7. Grading
The topic of grading will always bring controversy, but I will give brief guidelines.
a. Buy a copy of "Photograde" by James F. Ruddy and study all the pictures. Read the fine print about idiosyncrasies in each series. Try to grade yourself all circulated type coins you view , as moderate means collectors will include many circulated coins in their type set.
b. If you are uncomfortable grading yourself, buy only Professional Coin Grading Service or Numismatic Guarantee Corporation certified coins, even if they cost more. The old cliches read true in coin collecting, "you get what you pay for" and "there is no Santa Claus in Numismatics". On eventual resale, a high percent recovery of cost, or even profit, is more probable for coins graded by these services.
c. Do not buy weakly struck coins, even if attractively priced. A weakly struck coin shows design obliteration only in specific areas, not on all as is the case for a worn specimen. If you are unsure, pass on it.
d. If you do not like how a coin looks don’t buy it, as others probably wont like it either.
e. View as many coins as possible in all series. Internet auctions such as E-bay, www.ebay.com , and internet dealers on-line catalogs are great starters. Go to all local shows and scan the bourse floor! Learning to grade yourself before bidding is especially critical for internet auctions, as many coins offered there are grossly over graded.