The E-Sylum:  Volume 6, Number 52, December 7, 2003, Article 20

ANA GRADING GUIDE OBSOLETE IN PRACTICE

  Joe Boling writes: "You printed Amanda Rondot's confession
  about becoming a numismatic bibliomaniac  I had already
  responded to the ANA as follows:

  Amanda Rondot, in writing about some of the books in her
  library, had this to say about one of them:  "Official ANA
  Grading Standards for United States Coins is helpful not only
  for those of us who doubt our grading abilities and wish to
  improve them, but also for all coin collectors.  Since few
  people are familiar with the grading standards for series
  outside their collecting specialties, this book is good for
  acquainting oneself with a new series before buying unfamiliar
  coins.  I find it to be an especially useful study guide when I
  am acquiring type coins for my collection."

  I took the ANA grading course last month [October 2003].
  I found, when comparing the ANA grading set (graded by
  NGC) with the book, that the book no longer reflects market
  practice. If you are using it to familiarize yourself with a new
  series, expect the circulated coins that you find in recent slabs
  to be at least one full grade different from what you will see in
  the photographs in the book. In other words, if you want a
  coin that looks like one called fine in the book, you will have
  to buy a coin slabbed as very fine to find one with that degree
  of wear. If the grading service is one of the ones reputed to
  use even more liberal standards than NGC and PCGS, you
  might find two grades difference between the slabbed grade
  and the book's illustrations.

  If you are trading by mail with another collector, and you both
  agree to use the standards of the book, that will work OK.
  But if you are buying from a dealer, and you find one who is
  still using the standards of the ANA's official grading book,
  you had better cultivate that relationship."

  Wayne Homren, Editor

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