Coins cannot always be graded according to specific rules. There are many factors that influence the price and value of a coin, resulting in approximately 60 different existing grading methods.
Grading does, however, provide an important set of benchmarks that facilitate collectors’ and purchasers’ assessment of a coin’s quality.
It is important to asses the condition of a coin because the value of the coin is affected by the grade. If the coin has been in some form of jewellery it loses quite a bit of value. Rims, nicks, polishing and scratches are all important details that are considered in grading coins.