In the context of numismatics, an uncertified coin, also known as a “raw coin,” is a coin that has not been formally authenticated and graded by a third-party grading service.
Here’s a breakdown of what that means:
- Absence of formal authentication and grading: Unlike certified coins which undergo evaluation by numismatic experts who assess their authenticity and condition, uncertified coins lack this formal process.
- Reliance on personal expertise: The authenticity and grade of uncertified coins rely solely on the knowledge and expertise of the buyer or seller. This can lead to discrepancies and uncertainty regarding their true value and quality.
- No third-party verification: Certified coins offer assurance of authenticity from a reputable grading service like PCGS or NGC, [according to Wholesale Coins Direct] . Uncertified coins lack this external verification, increasing the risk of encountering counterfeits or altered coins.
- No standardized grading: Uncertified coins lack a standardized grading system, which can result in inconsistent evaluations of their condition and potentially impact their value.
- Lower initial cost: Generally, uncertified coins will have a lower premium than an identical certified coin due to the absence of the grading and authentication process.
- Potential for hidden problems: Without professional grading, problems like cleaning or damage may be masked or overlooked in uncertified coins.
In essence, an uncertified coin is a coin whose authenticity, condition, and value have not been formally assessed and verified by an independent authority within the numismatic community.
How do you know if a coin is certified?
A coin that has been certified will come in a tamper-evident encapsulation or slab from the organization that certified and graded it. This slab will have the necessary information to verify the coin’s grade and authenticity.
Are ungraded coins worth anything?
From my experience, Not All Coins Are Worth Grading
Example: You have a 1921 $1 Morgan silver dollar in what appears to be mint state condition. That coin probably sells ungraded for about $30 (assuming silver is at $20 an ounce).
Which US coin is currently illegal to own?
Thanks for asking. Currently, with the exception of the one sold on July 30, 2002, 1933 double eagle coins cannot be the legal possession of any member of the public, as they were never issued and hence remain the property of the United States government.