Teaching Kids to Be Responsible with Money

Experts In Coin Grading Services: Questions You Never Asked And Probably Should

by Ian Wallace

If you collect coins, you may never have considered turning your hobby into a career. There is a career connected to this hobby, and it is called a numismatist. A numismatist is someone who can look at all different coins and judge how valuable they are based upon their age, condition, type of metal in the coin and location where they were minted. Experts in coin grading have been collecting and staring at coins for years. If you want to know more about numismatists, want to become one yourself, or need to know if you are actually speaking to an expert in the field, here are a few questions and answers to ponder.

Do You Need a Degree/Do You Have a Degree in Numismaticism?

If you are speaking to someone who claims to be an expert numismatist, ask him or her if he/she has a degree. Generally, you do not need a degree, since there is not really one available. However, there are certifications you can earn, and many expert coin graders have these certifications. If your coin grader says that he/she does have a degree in this field, ask to see it. Chances are, he/she means to say that he/she has a certification instead (it is that, or your expert coin collector may be bluffing).

How Long Does It Take to Become an Expert Coin Grader?

That depends on how you look at it. If you take all of the available trainings for certification on the subject, probably less than a year. However, in terms of experience and being able to identify, read, evaluate, and price coins, that may take several years. The certifications allow you to call yourself an expert in name, but the years of experience validate your knowledge of coins and ability to accurately appraise and grade them.

Is There a Lot of Money in Becoming a Numismatist/Coin Grader?

Tongue in cheek aside (because you work with a lot of money to begin with!), no, it is not a "get rich" kind of job. Most coin graders and numismatists have the great dream of discovering a coin worth hundreds of thousands or even millions of dollars, but that rarely ever happens. You may see some old coins some time that are worth much more than face value, but a coin of extensive value and really high grade probably will never cross your path. Still, you can work in this field for coin shops, pawn shops, and jewelers, all of which will pay you a decent salary or wage for your skills.

For coin grading services, contact a company such as Rocky Mountain Coin Inc