The importance of grading credit pieces has come a long way. Specimens used to be grouped into one of two categories: unused or used. Unused generally meant a piece looked clean. Used meant it was dirty. Rarely did the terms have anything to do with wear.
This is understandable though. Many early collectors had never collected anything but credit pieces. They usually didn’t know any other credit piece collectors. With no previous collecting experience and no one to ask, how were they expected to know the difference between Mint and used? Besides, it really didn’t matter. Credit pieces were practically worth-
less. Many early collections were given away instead of being sold.
Why we need standard grading
Things have now changed. The number of collectors acquiring credit pieces has climbed. So have prices. Some credit pieces are worth hundreds of dollars. The need has arrived for finding a way to easily and accurately communicate the condition of a credit piece.
Collectors need a standard terminology to communicate the condition of a piece. Grading exists so precise information can be easily communicated. While fulfilling this purpose, grading should remain simple enough for all collectors to use and understand.
How to grade credit pieces
When grading an item, it’s best to hold it over a table that is padded in some way. This will help eliminate damage if a piece is dropped.
Before grading a credit piece, carefully examine its general condition. Observe if the piece has obvious damage such as bad scratches, rust, tears, or gouges. Look for anything that would lessen the desirability of the piece. Damage usually decreases a piece’s value.
When grading a credit piece, hold it by the edges between your fingertips. Avoid touching its front or back surface. Hold it at an angle so light can reflect from the piece’s surface into your eyes. Turn or rotate the piece slowly so its characteristics can be observed from different angles. Be sure to examine the edges.
Use an incandescent light when grading. Avoid fluorescent lighting, its nature easily conceals flaws and defects on the piece being examined. The same piece can appear different depending on the lighting.
Make allowances for age. Check the object’s entire surface: front, back, and edges.
Most beginning collectors have the idea that clean is best. They think cleaning a piece will improve it. Any amount of cleaning, no matter how small, changes a piece’s surface. Usually a credit piece is best left uncleaned.
When grading a credit piece, it isn’t necessary to take normal irregularities into account. If an irregularity is serious or prominent, it should be described along with the grade.
Example: A paperboard credit card is in Good (G) condition with a 1/4 inch tear. The card would be listed: G-small tear.
When you grade credit pieces, work with the grading standards alongside you. Soon, you’ll be able to grade without looking at the standards. You can master grading with practice.
How to grade charge coins (metal)
Check all of the piece’s high points for signs of wear. There must be absolutely no hint of wear to be Mint.
A weak strike sometimes appears to be wear. Most charge coins were stamped out on high power presses. The planchet wouldn’t fill the die completely when inadequate striking pressure was used. The design on a weakly struck charge coin will have details missing.
Check the coin carefully to determine whether a weakness in detail is a result of the strike or wear.
Charge coins with abnormal irregularities, such as weak or off-centered strike, pitting, or rust, should be described with the grade.
FM (Flawless Mint) – Perfect. No wear.
IM (Intermediate Mint) – A few scattered small nicks or hairline scratches. No wear.
M (Mint) – A moderate number of light surface scratches, nicks and blemishes. Any prominent flaw must be described. No wear,
VN (Very Nice) – Faint traces of wear on the highest points. Look for the slightest roughness or rub on highest points. If a fine design is the highest point, look for a slight loss of design. Even the faintest trace of wear means it isn’t Mint.
N (Nice) – Light wear on all of the coin’s high points. All design details are prominent.
G (Good) – Moderate wear on the high points. All major details are visible. All major features are distinct.
F (Fair) – Well worn. Some details still visible. All major features are visible.
P (Poor) – Heavy wear. Very little if any detail. Outline of main design visible.
How to grade metal charge plates
Metal charge plates were issued with carrying cases. The plate’s edges receive the most friction from being slid in and out of the case. Check the plate’s edges for wear. Also, examine the plate’s higher inner front edges. Check plates for any signs of bending.
A plate must show no signs of handling to be Mint. Mint means the original condition when issued. Pieces with the plate holder’s signature added to them after issue are not Mint. The best condition they can be is Very Nice.
FM (Flawless Mint) – Plate is perfect. No wear. Mount is clean and fresh. No wear.
IM (Intermediate Mint) – Plate has a few scattered hairline scratches. No wear. Mount has a few barely detectable flaws. No wear.
M (Mint) – Plate has a moderate number of light scratches and blemishes. No wear. Mount has a moderate number of blemishes. No wear.
VN (Very Nice) – Plate has faint traces of wear. Mount has just detectable traces of wear.
N (Nice) – Plate has light wear. Mount starting to show wear.
G (Good) – Plate has moderate even wear. Mount is worn.
F (Fair) – Plate well worn. Mount well worn.
P (Poor) – Plate heavily worn. Mount heavily worn.
How to grade paperboard cards
A card must show no signs of wear to be Mint. Mint means the original condition when issued.
Pieces with the cardholder’s signature added to them after issue are not Mint. The best condition they can be is Very Nice.
Make sure the card is complete. Some cards were cut so they could fit into a wallet. Check that all sides are straight.
FM (Flawless Mint) – Perfect. Clean and fresh. No wear.
IM (Intermediate Mint) – Sharp, well defined corners. A few barely detectable flaws. No wear.
M (Mint) – Light creasing and nicks. A few minor blemishes. No obvious signs of handling. No wear.
VN (Very Nice) – Almost Mint. Traces of corner and edge wear upon close examination. Light creasing. Just noticeable nicks and roughness along edges.
N (Nice) – Minor layering on edges and corners. Creasing. Edges and corners starting to show wear.
G (Good) – Some rounding at all corners. Layering on one or two corners.
F (Fair) – Layering on all corners. Frayed edges.
P (Poor) – Heavily worn, but complete.
How to grade plastic laminated paper cards
Examine plastic laminated paper cards carefully. Check all of the card’s edges to see if plastic lamination has separated.
Watch for what appears to be trapped air in the plastic; it could be early signs that the lamination is beginning to separate.
Check for signs of the clear plastic darkening. Also note if the card is bent or has any creasing.
Examine the paper card inside the lamination. Notice if the card’s ink has run or any other damage was caused during the laminating process.
FM (Flawless Mint) – Without any flaws whatsoever. Bright with full gloss. Plastic must be clear with no clouding or discoloration. No wear.
IM (Intermediate Mint) – Numerous hairline scratches. A few barely noticeable flaws. No wear.
M (Mint) – A moderate number of scratches and blemishes. No wear.
VN (Very Nice) – Almost full gloss. Traces of wear. There are no highest points to look for wear. Check the card’s entire surface for any dull roughness which might be wear.
N (Nice) – More than 75% of the gloss remaining. Small scattered dull/rough spots. Minor blemishes.
G (Good) – 50% or more of the gloss remaining. Blemishes.
F (Fair) – Less than 50% of the gloss remaining. Well used.
P (Poor) – Little if any gloss. Heavy wear.
How to grade plastic cards
Plastic cards should be checked for bends, folds and creases. Look for air bubbles under the plastic.
Check the card’s edges and around its raised areas for cracking. Also j examine the edges for imprinter cuts and indentations.
Be sure the printing is properly centered. Colors should be sharp and printed in the appropriate areas.
Look for credit card protection stickers. These stickers leave unsightly marks when removed.
A card must show no signs of handling to be Mint. Mint means the original condition when issued. Pieces with the cardholder’s signature added to them after issue are not Mint. The best condition they can be in is Very Nice.
FM (Flawless Mint) – Without any blemishes whatsoever. Bright with full gloss. No wear.
IM (Intermediate Mint) – Numerous hairline scratches. A few barely detectable flaws. No wear.
M (Mint) – A moderate number of scratches and blemishes. No wear.
VN (Very Nice) – Almost full gloss. Traces of wear. The first trace of wear will generally appear near the edge; it will show as a dull/buffed area. Check the magnetic stripe for clouding, which is wear. Check the signature space for glossy spots which is wear.
N (Nice) – More than 75% of the gloss remaining. Small scattered dull areas. Minor blemishes.
G (Good) – 50% or more of the gloss remaining. Signature space whole though worn.
F (Fair) – Less than 50% of the gloss remaining. Well used.
P (Poor) – Little if any gloss. Heavy wear.
Copyright 1989 by Greg Tunks
