I'm stumbling my way through learning how to grade coins. If you're trying to learn, in addition to the videos/CoinTalk/dealers that you should be consulting, I'd recommend getting your paws on a high grade example of your series of choice. I know this seems obvious but you cannot really know what the surface is supposed to look like until you can examine a coin that shows you a nearly perfect surface. It is like calibrating your expectations. For me a high grade Peace Dollar has been a revelation. It is the closest thing I've had to little light bulbs flipping on in my head. This does get easier - I was able to go through my collection of cleaned coins and point out why they got the 'Details' designation. If you keep at it you'll get to the point where you'll think, "Why wasn't this obvious to me a couple of months ago?". Getting a couple of high grade examples will really help you along.
This is why going to a coin show (or a well stocked dealer) is so important. You don't even have to buy the high grade coins, but seeing them in hand is absolutely priceless. When I was learning to grade, I had no idea what some of the terms meant. What the heck was cartwheel luster? Then I went to a show, looked at an MS-65 Morgan, and it was so blindingly clear. Grading from pictures is hard, but grading from pictures when you have no idea what it is supposed to look like in hand, and have no experience seeing it, is absolutely pointless.
I learned to grade pretty well between looking at Morgan's and Lincolns. I've examined well over 75,000 Lincoln cents. (Also helped with understanding varieties) You learn what a true gem looks like and all of the sudden that's what you want to collect. I love early Wheat cents. I cant buy them unless they look like these 65RB 65BN 64BN or Blue
@PennyGuy has a collection of 2 cents relegated for grading, top to bottom. Let's see if we can get the dear fellow in here to post some of his stuff, and share a bit of his expertise.........
I am here... Learning to grade any series of coins takes work. Books are very useful as are auction house pics along with in-hand examination. Over the years I’ve assembled several sets of two cent pieces. The first set was a raw AU grade set where I really learned to grade this series. Following that I assembled a set that consists of business strike and proof strike in 64 grade. A few of the proofs ended up being 65 grade because they were a good buy. Since then I’ve pursued two grade sets, one in NGC plastic and the other PCGS. I defined these sets as AG-3 to MS-65. This range fits well with the ANA Grading Guide book. When completed I will work on an Exhibit for a future Michigan State Numismatic Society Convention. The exhibit will compare the two top tier grading companies work to the long standing ANA technical grading standard. Here are the grade sets. I still need a VF-20 PCGS coin.
One way for current coins is to pick up several rolls of common coins such as nickles, Separate them into similar designs, and put them into rows of similar wear within the design. The first time is not too bad to get G,VG,Fine, etc ( large differences). which you can check with an online or paper reference. Then take all of the G and arrange them in order of wear and you will hit the "in-betweeners" , these look at very carefully and see if you can find any little difference that would favor one over the other if you were buying it. Do this as many times as you have time and you are well on your way. Then you can cash them in if you wish and try memorial cents, or Morgan dollars, whatever your interest. I still have the nickel , cents, and most of the morgans , that my son learned on, and I am secure he can handle what I eventually!!! leave him. It sounds silly, but most beginners will improve their eye-brain links and decrease their guessing/hoping evaluations. Jim
