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Ounce of Silver Value

Grading coins

The ounce of silver value with respect to coins depends on the rarity and quality of the coins as well as the grade. All coins have the necessary details of origin and the denomination along with the date of printing and mint details on it. Hence, there is no doubt about its authenticity, but regarding the condition of the coin, there can be difference of opinions. There are many ways of grading coins in order to realize their comparative values.

Quality of Coins

There are various coins that are produced in large numbers for commercial, known as Business strikes and some countries also produce special coins for particular occasions or for presentation purposes. These coins are known as Proofs and are produced carefully with special packaging, to set them apart. You can easily differentiate these specimen coins or proof coins from the ordinary business strikes.

On the other hand, there are many coins which are in a very poor state, with no details regarding the date or the mint and where the design of the original minting is not very discernible. If the coin is in mint state then one ounce silver value will naturally be more than the circulated or used type. The mint type should have no sign of wear and tear, though a few marks due to contact with counting machines and so on are normal.

Factors affecting the Grade

Grading takes into account many factors and the mint state itself has many grades, with respect to the luster and shine of the coin, the kind of strike, etc. The aesthetic factor or the appeal of the coin can also be considered, in some cases. The grading usually involves six terms for determining 1 ounce silver value for the coin, ranging from good to Uncirculated, with varying degrees of fineness in between. Uncertified coins are also graded and hence we have about 25 grades of coins, in order to decide the value for coins.

Some people even grade coins numerically by assigning numbers 1 to 60 for circulated coins and for the uncirculated mint state coins, the numbers assigned were from 60 to 70. Various terms are used, such as MS for Mint State, and AU for About Uncirculated, EF for Extremely Fine and VF for Very Fine. Coins minted as specimens are given prefixes, such as PF, PL or just SP standing for proofs, proof like and specimens. Thus, we see that the ounce of silver value is determined by various factors pertaining to the condition and quality of the coins.

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