Bullion Grading: Third-Party Services
Share on:Professional grading is one of the most important concepts for anyone who collects coins rather than — or in addition to — buying bullion purely for its metal content. A grade from a recognized third-party service can significantly increase a coin’s value, protect you from counterfeits, and make resale much easier.
What Is Coin Grading?
Coin grading is the process of evaluating a coin’s condition and assigning it a standardized score. The score reflects the amount of wear, the quality of the strike, the luster, and any surface marks or damage. A higher grade generally means higher value — especially for numismatic coins where collector demand drives the price above melt value.
The Sheldon Grading Scale
The most widely used grading system for coins is the Sheldon scale, which runs from 1 to 70:
| Range | Category | Description |
|---|---|---|
| P-1 | Poor | Barely identifiable; heavily worn |
| FR-2 | Fair | Extremely worn but type is clear |
| AG-3 | About Good | Very heavily worn |
| G-4 to G-6 | Good | Major features clear; heavy wear throughout |
| VG-8 to VG-10 | Very Good | Well worn; main features clear and bold |
| F-12 to F-15 | Fine | Moderate to heavy even wear |
| VF-20 to VF-35 | Very Fine | Light to moderate wear on high points |
| EF-40 to EF-45 | Extremely Fine | Light wear on high points only |
| AU-50 to AU-58 | About Uncirculated | Trace wear on highest points |
| MS-60 to MS-70 | Mint State | No wear; varies by marks and luster |
| PR-60 to PR-70 | Proof | Special strike; no wear; varies by quality |
For investment-grade bullion coins, MS-69 and MS-70 (or PR-69 and PR-70 for proofs) are the most sought-after grades. The difference between MS-69 and MS-70 can translate to a substantial price premium for popular issues.
Major Third-Party Grading Services
PCGS — Professional Coin Grading Service
Founded in 1986, PCGS is one of the two most trusted grading services in the world. Graded coins are encapsulated (“slabbed”) in a tamper-evident holder with a label showing the coin’s name, date, grade, and a certification number that can be verified on the PCGS website.
- Website: pcgs.com
- Known for: Consistency, strict standards, and a large secondary market
- Population reports: PCGS publishes how many coins of each type have been graded at each level
NGC — Numismatic Guaranty Company
Founded in 1987, NGC is the other industry leader. NGC and PCGS grades are largely interchangeable in the marketplace, though some collector communities prefer one over the other for specific coin series.
- Website: ngccoin.com
- Known for: High volume, international coin expertise, and the NGC Registry for competitive collectors
ANACS
One of the oldest grading services (originally the American Numismatic Association Certification Service), ANACS is a more affordable option that is widely accepted by the market.
- Website: anacs.com
- Known for: Lower submission fees; good for mid-range coins where PCGS/NGC costs are hard to justify
ICG — Independent Coin Graders
ICG offers another alternative at a lower price point. Less common in high-end transactions but accepted by many dealers.
- Website: icgcoin.com
Does Grading Make Financial Sense?
Submitting a coin for grading has costs: submission fees, shipping, and the time waiting for the slab to come back. It is worth considering in these situations:
- High-value or rare coins where the grade heavily influences resale price
- Proof and limited-edition bullion (e.g., American Silver Eagle Proof, Gold Buffalo Proof) that trade well above spot
- Coins you plan to sell in the numismatic market rather than to a bullion dealer
- Authentication of expensive purchases, especially on the secondary market
For standard bullion coins bought and sold near spot (e.g., a common-date Silver Maple Leaf), grading rarely adds enough value to justify the cost. The premium for an MS-70 slab matters most when a large collector market exists for that specific coin.
Tracking Graded Coins in Precious Metals Manager
Precious Metals Manager lets you record the grading company and grade for each item in your inventory, keeping your collection details in one place.
Step 1 — Set Up Your Grading Companies
Before recording a grade on an item, you need to add the grading company and its grade values as presets. In the app:
- Go to Settings → Presets → Grading Companies
- Tap + to create a new grading company
- Enter the company name (e.g., “PCGS” or “NGC”)
- Add the grade values you use (e.g., “MS-69”, “MS-70”, “PR-70”)
- Save the preset
You can create as many companies and grades as you need. Grades are fully custom, so you can enter any value from the Sheldon scale or any other system.
Step 2 — Record the Grade on an Item
When creating or editing an item, scroll to the Specifications section and:
- Enable the Graded toggle
- Select the Grading Company from your configured presets
- Select the Grade — the list is filtered to the grades you added for that company
A grade must be selected once a grading company is chosen — the app will not let you save without completing both fields.
Step 3 — View Grading Information
Once saved, the grading company and grade are shown in the Item Details screen under the bullion specifications. You can also browse your inventory and open any item to review its grading information alongside weight, purity, finish, and other details.
Summary
- Third-party grading services like PCGS and NGC assign a standardized score to coins based on condition, protecting buyers and supporting higher resale values.
- The Sheldon scale (1–70) is the universal standard; MS-70 and PR-70 represent perfection.
- Grading is most valuable for rare, proof, or limited-edition coins — not for standard bullion traded near spot.
- In Precious Metals Manager, set up grading company presets, then enable the Graded toggle when creating or editing an item to record the company and grade alongside the rest of your inventory data.