Coin grading is one of the most important skills a numismatist can develop. Whether you are cataloguing your own collection or buying at auction, understanding the Sheldon grading scale — and its Italian equivalent — will help you make informed decisions and avoid overpaying.
The main grades
Coins are typically graded on a spectrum from Poor (P-1) at the bottom to Mint State 70 (MS-70) at the top. For Italian Republic coins, collectors commonly use the Italian terminology:
- MB (Molto Buono / Very Good) — Heavy wear, all major features visible but flat.
- BB (Bellissimo / Very Fine) — Moderate to light wear on high points, good detail in fields.
- SPL (Splendido / Extremely Fine) — Light wear on the highest points only, strong lustre remaining.
- FDC (Fior di Conio / Mint State) — No wear at all, as struck. Full original lustre.
Why condition matters so much
The difference between a coin in BB and one in FDC can be dramatic. A 1956 5 Lire Delfino in BB might sell for €30–50, while the same coin in FDC can reach €400–600 at specialist auctions. The gap widens further for key dates and scarce variants.
Practical tips for self-grading
Before sending coins to a professional grading service, develop your eye by examining your coins under good diffused lighting — never direct sunlight. Look for:
- Wear on the highest relief points (hair, eagle feathers, lettering edges)
- Contact marks and bag marks in the fields
- Lustre and the quality of the strike
- Cleaning — any sign of polishing or artificial brightening dramatically lowers a coin's value
Over time, consistency comes from handling many examples of the same type. Reference catalogues like Montenegro and Gigante provide photo grades for Italian coins and are invaluable tools for the serious collector.