[The following excerpt is published courtesy of DLRC Press and its author, John Feigenbaum. This information was originally published in 1994 in The Complete Guide to Washington Quarters.]
* * *
Washington quarters are very difficult to grade in poor states of preservation because obverse detail is often very weak even in mint state. Currently, only a few of the dates in the series are expensive in mint state. For this reason, few of the Washington quarter dates are collected in grades below XF.
Described below are the grading criteria used in the marketplace. Coins do not wear in discrete steps, but gradually. There really are not just a few grades but actually an infinite number of states of wear. Dealers and collectors typically use several grades for describing circulated coins and these are discussed below. Mint state coins have no wear and are judged by a different set of criteria (i.e. the number marks, light hairlines, “freshness”, etc.).
Circulated Washington quarters are almost exclusively graded by the obverse detail. This is due to the characteristics of the design and the protection afforded by the rim. In addition, coins from 1932 and 1934 (light motto) cannot be graded by motto detail as the words IN GOD WE TRUST were often faint to begin with.
About Good (AG)
The rim will be worn considerably into the letters and the date.
Good-Very Good (G-VG)
The rim will be worn just in to the tops of the letters and bottom of the date. Coins that grade Very Good exhibit slightly more central detail than coins grading Good. (It is difficult to distinguish between these two grade in Washington quarters.
Fine (F)
OBVERSE: There will be a full rim. Washington’s hairline will begin to show at his forehead. The rest of the hair should also show slight detail.
REVERSE: There will usually be a full rim. Feathers may show on the eagle’s breast.
Very Fine (VF)
OBVERSE: Washington’s hairline above the forehead begins to show three-dimensionality. The rest of the hair should show detail as well.
REVERSE: The reverse is not generally used to determine this grade, unless it shows an unusual degree of wear or damage.
Extremely Fine (XF)
OBVERSE: All the hair on Washington’s head shows detail. The locks of hair at the neck begin to show separation.
REVERSE: The reverse is not generally used to determine this grade, unless it shows an unusual degree of wear or damage.
About Uncirculated (AU)
OBVERSE: This coin exhibits only a trace of wear at its high points: the top of the forehead, Washington’s cheek and the lock of hair behind his ear will be slightly flat. Coins should have mint luster.
REVERSE: Only a trace of wear will be visible on the eagle’s chest; however breast feathers may be weak due to strike.
Uncirculated (MS60-MS70)
It is difficult and beyond the scope of this book to describe the subtle differences between the various uncirculated grades. Uncirculated coins, by definition, have never been exposed to daily use or circulation, even for a short period of time. Most often, the obverse of the coin holds the telltale clues of a coin’s grade. This is because the reverse of most coins grades higher than the obverse.
To achieve the minimum standard of being uncirculated (grading MS60) the coin must exhibit no wear even at its highest points. It can, however, show evidence of mishandling such as bag marks, hairlines, and so on. Professionals will often first examine Washington’s high cheek bone (just under the eye) for signs of “rub” which is usually manifested as a break in the luster.
Also examined are the fields in front of and behind Washington’s head. The degree to which the fields are hairlined (very light, thin lines noticeable only by rotating the coin carefully under a light) often establishes the “low end” mint-state grade. For example, a coin with many hairlines may be graded AU58. To achieve a grade of MS63 or higher the fields generally must be hairline-free.
The theoretical MS70 coin is absolutely perfect in every way. The coin must be completely devoid of marks or hairlines under 10X magnification, exhibit supreme mint luster and be otherwise flawless to the grader. This grade, almost never achieved, is used as a benchmark. Even a coin fresh from the mint press is likely to exhibit some minor flaw that will keep it from perfection. To date no Washington quarter has been graded higher than MS68 by a major grading service.
(For further assistance in grading mint state coins, the American Numismatic Association sponsors grading seminars that are very helpful. The A.N.A. can be contacted at: 818 North Cascade, Colorado Springs, CO 80903.)
