07/23/2024 08:37:09 AM
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Certified Gold Coins

Certified Gold Coins at Provident Metals

Gold coinage has a long and unique history. Gold coins used to be the currency that moved the world forward, now, gold coins are used as a hedge against the market serving as a means for investors and collectors to diversify their portfolios. A recent development in the world of gold coinage is certified gold coins. These gold coins are certified by professional coin grading services and give investors and collectors an extra boost of authenticity. Learn more about what kinds of certified gold coins we have available here at Provident Metals.

Certification History

Certification is essentially the grading of a gold coin. There are several services that allow you to send in your coin to be analyzed for its rarity and its condition. Before certification, there wasn’t a standard to determine the different values of unique coins.

While there are plenty of coin grading providers on the market today, the two biggest names in that industry are the NGC and the PCGS.

  • NGC: The Numismatic Guaranty Corporation was founded in 1987 as a third-party coin grading service that is independent of any private or sovereign mint. The American Numismatic Association and Professional Numismatists Guild both use the NGC as their official coin grading service. You send in your coin, and the NGC will analyze, grade, and ship you back your coin in an NGC protective slab to preserve its graded condition.
  • PCGS: The Professional Coin Grading Service was established a few years prior in 1985. The service was formed by a small group of the nation’s leading coin experts. The group follows a similar process to the NGC, using the same grading scale but with different terminology.

The Sheldon Scale and Certification Terminology

Both the NGC and the PCGS use the Sheldon Scale for grading coins. Prior to the 1980s, coin collectors would use broad terms such as Good, Fine, and Uncirculated, to grade coins. This created a problem as multiple coins could be classified as good, but also differ from each other.

In 1948, Dr. William Sheldon created the Sheldon Scale to grade coins between 1 and 70. In theory, a coin with a grade of 70, is worth 70 times the value of grade 1.

While both the NGC and the PCGS use the Sheldon Scale, they each use unique terms that preface the grade, which can lead to confusion. Below is a breakdown of some common terms you’ll see in the world of Certified Gold Coins.

  • MS: Stands for Mint State. Mint State applies to grades 60 through 70 and is used to identify coins in the same format as circulation issues.
  • PF/PR: Stands for Proof. This term will preface a grade when the coin in question is a proof strike.
  • SP: Stands for Specimen coin. This term is used to identify a hybrid strike between Mint State and Proof.
  • DCAM/UCAM: Stands for Deep Cameo or Ultra-Cameo. This term is reserved for proof coins. The term refers to proof coins that display a strong, frosted finish on the design with a contrasting mirror-like background.
  • FS/ER: Stands for First Strike or Early Release. This term is used for coins that were received by the PCGS or the NGC within the first 30 days of the coin being released.
  • FDOI: Stands for First Day of Issue. This term is used for coins that were received by the PCGS or the NGC within the first 24 hours of the coin being issued.

As mentioned above, coins graded between 60 and 70 are regarded as mint state. Coins graded between 50 and 58 are regarded as about uncirculated. Coins with a grade between 40 and 45 are designated as extremely fine. Finally, coins with a grade between 20 and 35 are delegated as very fine.

Popular Certified Coins

The NGC and the PCGS certified almost every coin that is sent to them. These can range from modern gold coins to vintage gold coins, to even rounds in some cases. However, some of the most popular options you’ll see on Provident Metals are the following:

  • Pre-33 Certified Gold Coins: In 1933, President Roosevelt ordered all US citizens to relinquish their gold coins in exchange for other currency. US Citizens were not allowed to purchase gold for another 40 years. As such, Pre-1933 US Gold Coins hold a significant numismatic and historical value that can be enhanced with certification.
  • Certified American Eagle Gold Coins: American Eagle Gold Coins are the official gold bullion coins of the USA. As such, they’re among the most popular gold bullion coins on the market. Thus, they dominate the certification world as well.
  • Certified Canadian Gold Coins: Another popular option is the Canadian Maple Leaf Gold Coins. The official gold bullion coin of Canada is an extremely popular option in the certification world. Notably, in 2024 the obverse design was changed from Queen Elizabeth II to King Charles III. This marked the first time in the coin program that someone other than the Queen was shown on the obverse.

Purchasing Certified Gold Coins at Provident Metals

At Provident Metals, we have a wide selection of Certified Gold Coins available for purchase. Please don’t hesitate to ask if any questions arise. Our dedicated customer service team is available at 1-800-313-3315. Additionally, our team can be reached via email or through our online chat feature.