Grading is the single most important factor in determining the value of a coin.
Coin grading has a universally used system that grades coins on a 1-70 point scale. The Sheldon scale was originally created in 1948 to grade copper large cents and continues to be the standard for grading all coins. It’s strength lies in it’s lower grades and it remains an integral beginning step to ancient coin grading basics.
Ancient coin grading has a few more complexities that require it to be broken down into multiple grading categories. This more accurate grading system was pioneered by David Vagi of NGC and more info can be found on their website. I use this system but expand their 3rd category to be more accurate in determining higher grades. I use Strike, Surface and Eye Appeal.
Strike is anything that involves the minting process and quality of the coin given to it at it’s production.
Surface is how the coin has survived since they day of it’s production.
Eye appeal is the x factor that arises when seeing the coin in hand.