My Lifelong Journey in Grading Raw Coins

After collecting for more than fifty years, I can tell you that learning to grade raw coins isn’t just a skill—it’s what makes this hobby so rewarding. It saves you from costly mistakes, builds your confidence, and turns every coin into a story waiting to be told. Today, I’m sharing my insights, practical tips, and lessons learned the hard way to help you with this essential part of coin collecting.

Why Learning to Grade Raw Coins Matters

I’ve seen too many collectors depend only on third-party grading services (TPGs), spending more on fees than the coin’s worth. Slabbing gets expensive fast—service tiers, shipping, insurance, and packaging add up, especially for common modern coins. Worse yet, if you send in a problem coin, it might come back rejected as cleaned, altered, or counterfeit, leaving you with nothing but a loss. When you grade raw coins yourself, you dodge these headaches, save cash, and make smarter buys. You’ll also start noticing the little things that make each piece special, turning the hobby into something deeply personal.

The Resources That Shaped My Grading Eye

Over the years, I’ve put together a solid toolkit from books that have become my go-to guides. I started with basics like Brown and Dunn in the 1960s, which used line drawings to show circulated grades. Then I moved to Photograde for its pictures, and later the ANA guide became my main reference. I also love the Whitman series-specific books for targeted help—I’ve found some amazing deals on these at used bookstores. But here’s the thing: as helpful as these are, they aren’t the whole story. I realized I needed to understand more about surfaces, strikes, luster, wear, and die states, so I dug deeper. That’s why I appreciate newer books that explain the ‘why’ behind a coin’s look, helping you tell a weak strike from wear or an early die state from a late one. Books are a bargain compared to the cost of not knowing, so I say get into them early and often.

How I Truly Learned to Grade

I started learning in the early ’60s with basic books, but it wasn’t until I handled tens of thousands of coins that it all came together. Working with an experienced dealer in the ’70s really sped things up, and so did studying the pictures in grading guides. Here’s the key: nothing beats hands-on experience. I’ve looked at countless coins to make the book knowledge stick, and it’s taught me that grading is something you keep learning. For example, I still find tricky series like Buffalos or Washington quarters challenging because wear patterns can fool you. My advice? Start with coins you know and love, stick to what you’re comfortable with at first, and then branch out. This approach has kept me from overpaying for raw coins that look like bargains but have hidden problems.

When Slabbing Makes Sense (and When It Doesn’t)

Through my dealings, I’ve learned that not every coin needs to be slabbed. For older U.S. series like Draped Bust, Capped Bust, Seated Liberty, Barber, Indian Heads, and even circulated Morgans, you can usually get by with raw grading—you can figure out the value without paying for slabbing. But for modern coins in top grades, like a 1998-D nickel with full steps at MS-66 (worth $360 slabbed), trying to sell it raw is tough; buyers just won’t trust it. I once sold raw Morgans that I graded around MS-62 to MS-63 to a local shop and got paid as if they were MS-60 to cover the grading risk. The takeaway? Know your coin: slab rare mint state coins to get the most value, but for circulated pieces, trust your own skills to avoid unnecessary costs.

Sharpening Your Eye for Details and Red Flags

Grading isn’t just about wear—it’s about the little details that change from one series to another. For example, Barber dimes had a relief change in 1901 that made Liberty wear slower, so grading standards are different. Or take Canadian George VI dollars: the hair details between 1937-1947 and 1948-1952 aren’t the same, which affects how you judge wear. I’ve also trained my eye to tell weak strikes from wear: weak strikes often keep more luster and have fewer surface marks, making them more desirable than worn coins. But with Morgans, I’m careful about raw weak-strike coins because they usually don’t grade above MS-64 when slabbed. To build your confidence, focus on checking surfaces, strikes, and luster step by step. This helps you catch red flags like cleaning or alterations, so you don’t get taken in the market.

At the end of the day, grading raw coins gives you control. It’s made collecting more fun and affordable for me. Whether you’re just starting or have been at it for years, I encourage you to learn all you can—pick up those books, look at as many coins as possible, and enjoy the ride. Happy collecting!