The condition of a coin is, alongside its rarity, the most important factor for its value. But how do you assess the condition of a coin, and what do the different grades mean?

Coins vs. Medals

First, it's important to understand that coins and medals must be viewed differently. Coins were means of payment – they passed through many hands and were exposed to everyday use. Medals, on the other hand, were often made as collector's items and frequently remained in protected environments.

Earlier collectors sometimes pierced, attached, or set coins in frames to wear them as jewelry. Restoration attempts in the 20th century tried to return such coins to their original condition – with varying success.

Restoration vs. Manufacturing Defects

It's important to distinguish between later alterations and manufacturing characteristics:

Value-reducing alterations: Polishing, filled holes, mount marks
Production-related features: Uneven edges, weak strikes, double strikes

Since coin production was once handwork, every antique coin is unique. Weight adjustments, edge defects, or double strikes are considered characteristic and do not reduce value.

European Condition Grades

In Europe, the following five condition grades have become established:

1. Proof (PP - Polierte Platte)

A special manufacturing method for collector coins. The dies are polished, creating a mirrored background. These coins were never intended for circulation and show the highest quality.

2. Brilliant Uncirculated (ST - Stempelglanz)

Coins in brilliant uncirculated condition have never participated in payment transactions. All details are sharp, there are no visible signs of wear. This is the highest grade for circulation coins.

3. Extremely Fine (VZ - Vorzüglich)

With extremely fine coins, only minimal signs of use are recognizable – slight scratches or minimal wear on the highest points of the relief. However, all details remain clearly visible.

4. Very Fine (SS - Sehr schön)

These coins were in circulation for an extended period. The wear is clearly recognizable, especially on the raised areas. However, the basic structures and main motifs are still easily recognizable.

5. Fine (S - Schön)

Coins graded "fine" were in circulation for many years. The wear is heavy, imagery is partially only schematically recognizable. This grade is only collectible for very rare coins.

Intermediate Grades

In practice, intermediate grades are often used to describe the condition more precisely:

Brilliant Uncirculated/Extremely Fine (ST-VZ): Almost perfect, minimal contact marks
Extremely Fine+ (VZ+): Above average for this category
Extremely Fine/Very Fine (VZ-SS): On the border between both grades

The Impact on Value

The difference between "very fine" and "extremely fine" can double or even triple the price for sought-after coins.

Condition has an enormous impact on collector value. A rare coin in "brilliant uncirculated" can be worth many times more than an identical coin in "very fine." That's why it's worthwhile to pay attention to the best possible condition when building a collection.

Professional Assessment

Correctly assessing condition requires experience and a trained eye. If you're unsure how to grade your coins, we're happy to help with a professional assessment.

Coin Condition Grades