No Grade Coins – Part IV

By Mike Sherman - September 1, 2016

Last time we reviewed the "No Grade" coins which we could not put into holders. These included coins with peeling laminations, PVC residue and suspected and actual counterfeit coins. There remain, however, a large group of problem coins which, while we cannot assign a numeric grade, we can declare as genuine, and put into a holder with an adjectival details grade.

Let’s take a look at some of these categories:

82 – Filed Rims
Back when coins were made of precious metals, it was not uncommon for unscrupulous individuals to file away a bit of metal off the rims of coins they owned. Over time, enough "shavings" could be accumulated and they would be able to reap a small reward for their illegal efforts. While punishable by death during ancient and medieval times, it was still quite a serious offense in the 18th and 19th centuries. The threat of prison, however, did not deter everyone and filed coins are still occasionally encountered in the marketplace. Another reason one may find a filed rim is the removal of evidence of mounting.

An 1852 Double Eagle, part of which may have been "borrowed" many years ago. See rim at top.

91 – Questionable Color
Most experienced numismatists appreciate the beauty of a spectacularly toned coin. Because toning is a natural chemical reaction, there are ways of accelerating the process as well as "enhancing" the results. These artificial means of creating toning are largely frowned upon, and if PCGS encounters a coin which we believe has been helped along in the natural toning process, we will not assign a numerical grade. A questionable color call can also occur if one tries to recolor a copper coin back to its original "red" color. Toning is also added in an effort to mask a past cleaning. Whatever the reason, collectors like their coins naturally toned over many years.

While spectacular rainbow toning is normally an asset, when it is artificially created, it becomes a liability.

92 – Cleaning
This is a tough category and the subject of much debate and discussion over the years. PCGS interprets cleaning as surface damage due to any form of abrasive cleaning. "Cleaned" covers a wide range or appearances, from a grossly polished coin to one where faint hairlines can be seen only at a particular angle or in only one area on an otherwise perfectly normal coin. This is perhaps the most frustrating of all the No Grades, because subtle cleaning is often difficult to detect in less-than-optimal grading conditions. "Dipping" (the removal of toning with a chemical bath) is not considered cleaning under this definition, unless it has been done repeatedly or improperly. In the past, many coins were cleaned by well-meaning numismatists, before the dangers were fully understood.