Grading of Coins & Banknotes
Grading is a subjective art and we adhere to the adjectival grading system for coins.
This favours a descriptive terminology. You can find a thorough explanation here at the Australian Numismatic Dealers web site. Although it pertains to Australian coins the method is the same for all coins.
The other method offered is by a third party coin grading service and is often referred to as “slabbing”. A Third Party Grading Service (TPG) is a company that provides the service of authenticating and determining the state of preservation of a coin. They are called Third Party because they have no vested interest in either the buyer or the seller and are independent of both. Most TPGs utilize three graders and one or more finalizers so that means at least four people's opinions were used to determine the grade of a coin. All TPGs use the Sheldon 70-point grading scale.
For all bank note grading we follow the International Bank Note Society standards.