Have you ever submitted coins to a grading service
and had some sent back in soft flips with a
sticker that said “No Grade?” If so, this booklet
is for you.
NGC, like most grading companies, will return some
coins as “No Grades.” In the case of NGC “No Grade”
coins, a brief statement of the problem is attached to
the flip containing the coin. NGC currently uses over 70
terms to specify coin problems. Although NGC believes
these terms are in general use by coin grading companies,
this booklet is designed to assist you in identifying and
understanding “No Grade” designations.
To maintain the hobby’s confidence in the coins
certified by NGC, there are certain coins that NGC will
not certify. Some of the problems or characteristics
that can cause a coin to be rejected are obvious, but
others are very subtle and may slip past the eye of even
experienced dealers and collectors.
While receiving a coin with a “No Grade” designation
is disappointing, this should be viewed as an educational
opportunity. By learning what conditions are not
desirable in a coin, you will be able to distinguish
those coins that are considered gradable by NGC.
In much the same way that mint error coins teach
us how normal coins are made, problem coins
serve as a reminder to handle numismatic pieces
carefully and to always look toward their longterm preservation.
One of our goals at NGC is to reduce the likelihood
of coin buyers being sold problem coins. By restricting
our certification service to only those coins that meet
market standards of wide desirability, we hope that both
dealers and collectors trading in NGC-certified coins
will develop more discriminating tastes and will come
to a greater understanding of what conditions can lead
to NGC giving a “No Grade” designation.
In the following pages we will explain with words
and pictures the reasons certain coins are returned by
NGC uncertified as “No Grades.” This will help you better
understand which coins to avoid submitting and will
provide possible remedies for some types of problem coins.
