ELI5: Explain Like I'm 5

Coin grading

Coin grading is like giving a grade to a coin to tell how new or old it is, just like when you get a grade in school to tell how well you did on a test or a project. But instead of getting an A or a B, coins can get a number and a description that tells collectors and people who want to buy them what condition they are in.

When people grade coins, they look at lots of things like how much the coins have been used, if they have any scratches or marks on them, and if the features on the coin can be seen clearly. If a coin looks almost like it just came out of the mint, it would be called "mint condition" and get a high grade like MS-65 or MS-70. If a coin is really old and has seen a lot of use, it might be called "good" or "fair" condition and get a low grade like AG-3 or FR-2.

Coin grading helps people who want to buy or sell coins know what they are getting and how much they should pay for it. It's important to be careful when grading coins, because a small difference in grade can make a big difference in the price someone will pay for it.