SCOTT SEMANS WORLD COINS
GRADING STANDARDS

   Briefly, we try to be conservative, to mention any damage beyond what is usual for the series, and will cheerfully refund your postage should you make returns for reasons of grading.
   In the U.S. coin field, grading abuse is still rampant despite the existence of certification services and the corpses of fleeced investors. It's never been a huge problem in the foreign coin field, and when you get to the outer reaches of exotic coinages such as I handle, it rarely comes up as an issue. However, I always urge collectors to be critical in this area, as even one grade difference can mean a serious difference in value for expensive or highly collected series.
   There are no absolute standards for grading, except perhaps for circulated vs uncirculated (and Proof is a special strike, not really a grade). Rather, grading is a means of communication. You must deal with a number of sellers and make critical comparisons to learn what each seller's standards are. If you buy a coin graded VF and get a F, but at a F price, have you been cheated? Not really, and you now know to discount this dealer's grading by one step when considering future offers. Following are my own standards. The "Our Env" column shows how we super-abbreviate the grade on the coin envelope.

MACHINE STRUCK COINS

Usual Abbreviation Our Env Name Description
Pr, Fr Pr Poor,Fair Really awful, little detail visible, or serious damage
G G Good Nearly all features visible, but barely
Vg Vg Very Good Well worn, somewhat unattractive & lacking in detail.
F F Fine Worn but not unpleasant
VF V Very Fine Sharp & attractive, but definite wear evident
EF,XF E Extra Fine Light wear
EF+ E+ Extra Fine Plus Very Light wear, usually some original lustre
AU A About Uncirculated Lightest of wear on very highest point or points; lustre
AU-UC AU Range AU to UC Confusing situation, as "AU" on our envelope indicates a range from AU to UC, not a simple "AU" grade.
UC,UNC,BU U Uncirculated,Brilliant Uncirculated No wear, no more than usual bag marks %age of lustre may be given for base-metal coins (EF+, AU, UC)
Pflk PL Prooflike May be a descriptive term for a particularly sharp UC with few or no bagmarks, or may be a special strike short of Proof quality.
Pf Pf Proof A specially-struck, brilliant, high-relief example
A, Abt, Nr A Almost,Nearly,About Nearly the specified grade (AVF, etc.)
+ + Plus High end of grade range, but not quite "almost" next grade
- - Dash Range grade (multiple specimens). Others use this to indicate midway between the two grades
/ / Slash 1. Obverse/Reverse grade   2.Abbreviation for repeated letter (E/+ = range EF toEF+)
cr. cr. Crude Crude striking method - portions of flan weakly struck, off center, etc. cr.VF may "look" Vg or F but is VF for series


ORIENTAL CAST COINS

   Wear, casting quality, and minor flaws are factored in. Pre-Sung coins will rarely grade EF, and some dynasties issued coins in VF or F. While struck lettering rises sharply from the coin surface, a cast Oriental character is like a mountain with a broad base and sharp peak. As it wears, the lines get thicker and the "valleys" fill in, causing a loss of interior detail. Unevenly distributed or discolored patina, edge chips, scratches, partial cracks, sandholes, or rough surface will be downgraded if minor, but mentioned and not downgraded if more serious.

Pr   Attributable by someone familiar with the series.
G    Heavily worn, but full exterior and some interior detail; usually attributable even by a novice.
Vg   Exterior details sharp, 25+% interior detail.
F     Average wear, 75+% interior detail.
VF   Light wear, all details clear; well-cast; attractive patina. Mint state for some dynasties.
EF   Little or no wear; very sharp casting. Mint filing scratches evident for Ch'ing dynasty.
UC   EF, from a hoard that apparently did not circulate.

   In practice, there is little difference among VF, EF, and UC. A VF can be more attractive than a raw EF-UC still showing Mint filing scratches.
   Patina is a matter of taste. Either a thin, even green or a dark brown are usually preferred. Crusty coins (lumpy green and/or hard soil) are noted, but not downgraded.

Abbreviations:
b = brown, g = green, c1 = light crustiness, mentioned for completeness; c2 = crust which obscures some character detail and detracts slightly; c3 = heavy crust obscuring 25+% of character areas. Let me know if you have a preference.

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