GRADING COMPANIES

GRADING COMPANIES

A Guide to the World's Leading Numismatic Grading and Authentication Services

Compiled by Ujjwal B U Pant, Founder, AINCERT
All India Numismatics Council of Educational Research and Training

"Don't talk about money, talk about history."

WHAT IS THIRD PARTY GRADING?

Third party grading is the process by which an independent organisation, with no financial interest in the sale of a coin, assesses and certifies its grade, authenticity and condition. The graded coin is then encapsulated in a tamper-evident plastic holder known as a slab, which displays the grade, coin details and a unique barcode for online verification. Third party grading transformed the global coin market by creating a standardised, trustworthy system that protects both buyers and sellers.

COIN GRADING SERVICES

NGC — Numismatic Guaranty Company

NGC was founded in 1987 in Sarasota, Florida and is the world's largest third-party coin grading service, having graded over 60 million coins. NGC uses the 70-point Sheldon Scale, with grades running from Poor-1 at the lowest to Mint State-70 at the theoretically perfect level. For proof coins the designation changes to PF, running from PF-1 to PF-70. NGC grades ancient, world and United States coins and is considered the most internationally respected grading authority for Indian coins. AINCERT founder Ujjwal B U Pant holds an NGC graded coin in his personal collection, a 1926 Quarter Anna graded NGC MS-67 RD, which is one of the finest known examples of this issue in existence. The NGC website is available at ngccoin.com.

PCGS — Professional Coin Grading Service

PCGS was founded in 1986 in Santa Ana, California and is the world's first third-party coin grading service, established one year before NGC. PCGS pioneered the concept of independent grading and the sealed plastic slab. It has graded over 50 million coins and maintains the CoinFacts database, one of the most comprehensive coin reference resources in the world. PCGS uses the same 70-point Sheldon Scale as NGC. Special designations include RD meaning Red for full original copper colour, RB meaning Red-Brown for partial original colour and BN meaning Brown for fully toned copper coins. The PCGS website is available at pcgs.com.

NGS — Numismatic Guaranty Singapore

NGS is based in Singapore and specialises in Asian coins, particularly Indian, Chinese, Japanese and Southeast Asian issues. It is the most directly relevant grading service for Indian numismatic material and is increasingly used by Indian auction houses including Marudhar Arts. NGS uses the same 70-point Sheldon Scale as NGC and PCGS. For collectors of Indian coins, NGS certification is particularly meaningful as the graders specialise in exactly the material being certified. The NGS website is available at ngsgrades.com.

ICG — Independent Coin Graders

ICG was founded in 1998 and is based in Oklahoma, United States. It is known for faster turnaround times and lower fees than NGC or PCGS, making it a practical choice for mid-range coins where premium grading services may not be cost-effective. ICG uses the same 70-point Sheldon Scale. The ICG website is available at icgcoin.com.

BANKNOTE GRADING SERVICES

PMG — Paper Money Guaranty

PMG was founded in 2005 and is a sister company to NGC, also based in Sarasota, Florida. It is the world's leading banknote grading service, having graded over 8 million notes from all countries and all periods of history. PMG uses a 70-point scale similar to the coin grading scale. A special designation unique to PMG is EPQ, meaning Exceptional Paper Quality, which is awarded to notes that retain their original paper quality with no repairs, cleaning or alterations. EPQ is the most important designation for serious banknote collectors as it confirms the note has not been interfered with in any way. The PMG website is available at pmgnotes.com.

INDIAN AUCTION HOUSES

Marudhar Arts

Marudhar Arts was established in 1965 and is India's oldest and most respected numismatic auction house, based in Mumbai. Founded by the Maru family, it has conducted over 55 major auctions covering Indian coins, banknotes, stamps and antiquities. AINCERT founder Ujjwal B U Pant has a personal relationship with the Maru family spanning several years and has acquired significant pieces through both the Marudhar Arts auction platform and the Marudhar Arts e-store, including his 1835 East India Company William IV error coin in uncirculated condition. The Marudhar Arts website is available at marudhararts.com.

Classical Numismatic Gallery

Classical Numismatic Gallery is India's leading specialist dealer in ancient Indian coins, particularly punch-marked coins, Gupta gold dinars, Indo-Greek issues and medieval coinage. Based in Mumbai, it is one of the most trusted sources for authenticated ancient Indian numismatic material in the country. The Classical Numismatic Gallery website is available at classicalnumismaticgallery.com.

ONLINE RESOURCES

Numista

Numista is the world's largest online coin and banknote catalogue, built collaboratively by collectors for collectors. It contains over 700,000 coin types from all countries and all periods of history and allows collectors to log their personal collections, track values, research any coin and connect with other collectors worldwide. AINCERT founder Ujjwal B U Pant uses Numista as a reference and catalogue tool. Numista is accessible at en.numista.com and can be added to a mobile home screen for convenient access.

AINCERT — INDIA'S OWN GRADING STANDARD

While international grading companies provide excellent services, India has until now lacked its own grading standard designed specifically for Indian coins. AINCERT addresses this gap through the ARCHIER Scale for regular coins and the PF-ARCHIER Scale for proof coins, both created by Ujjwal B U Pant in 2026. These scales are calibrated for the unique characteristics of Indian coinage across 4,000 years of history and represent the first genuinely Indian contribution to numismatic grading methodology.

AINCERT Copyright 2026
sites.google.com/view/aincert
"Don't talk about money, talk about history."