Grading Guide for the Vn Cvarto of 1930-1947

Determinación del Grado de Conservación

The following is a grading guide for the Vn Cvarto coin of 1930-1947. It is based on the Sheldon grading scale of 1-70 which is widely used in the United States and elsewhere including Panama.

Grading is an art, and is subjective in nature. Different collectors and dealers will have legitimately different opinions about the same coin. However, there are generally recognized standards used as a basis for grading coins, medals and tokens. Standards have been published for grading Panama coins by the Isthmian Numismatic Society (now defunct) and the Asociación Numismática De Panamá (in Spanish). The guide below is my application of the Sheldon grading scale to the Vn Cvarto coin of 1930-1947, taking into account the standards previously published.

Quick Hints for Grading the Vn Cvarto of 1930-1947

On eBay or looking at a coin dealer's stock, you may want to quickly and easily grade this coin. Here are some quick hints.

  • If the helmet on the obverse merges into the face, the Vn Cvarto is low grade, Good or About Good.
  • If the flat spots on the eagle's breast and leg or legs have merged, the Vn Cvarto is a Fine or lower grade.
  • Count the rivits on Balboa's helmet that are visible. Four rivits is Very Good, five rivits but one faint is Fine, five clear rivits is Very Fine, six distinct rivits is Extra Fine or better.
  • For potential UNC or AU coins, look at the middle of the helmet on the obverse for evidence of friction, and the breast of the eagle on the reverse for a flat spot.

Poor (P-1)


Sometimes referred to as the "basil state". This is an object that is barely recognizable as having been a silver Un Cuarto from Panama. The design is almost completely gone due to wear or corrosion and date is illegible. This coin has no numismatic value, it is time to melt it down!

Fair (Fa-2)


Extremely heavy wear or damage. However, the coin is recognizable as to type and date. The date can be severely worn or damaged, including missing digits, but it must be recognizable. Except for rare dates, this coin has no numismatic value.


About Good (AG-3)


Very heavily worn with portions of the lettering, date and legends worn smooth.

OBVERSE: Balboa is outlined with nearly all details worn away. Legend is merging into the rim.
REVERSE: Coat of Arms, flags and eagle are outlined but flat with nearly all details worn away. Legend is merging into the rim. Date is readable but worn.

The rim is worn, and the design is very flat. Severe and numerous marks are allowed. This low grade has no numismatic value, only precious metal (silver) value.


Good (G-4)


Heavily worn. Major designs visible but flat and may be faint in areas. The peripheral lettering should be mostly full, and most legends should be visible. The rim or edge should be mostly intact, but worn edges are allowed. Numerous marks are allowed but should not be so severe that a major design feature is unrecognizable.

This low grade has some numismatic value, due to the scarcity of some of the dates, especially the 1931. And all the members of this variety certainly have precious metal (silver) value.

Example of a Vn Cvarto of 1930-1947 Coin in G-4
Example of a Vn Cvarto in Good (G-4) Condition

The above example has only three visible rivits. The helmet design is gone, and the helmet and face are starting to merge. The rim on the obverse is showing wear, especially along the top where several letters are starting to merge with the rim. On the reverse, the rim is mostly intact but shows weakness on the right and left. The coat of arms and eagle are flat, with many design elements outlined but lacking in detail. I would grade this coin as a Good (G-4).

Very Good (VG-8)


Well worn. Bold major designs but absence of fine details. Edges and rims should be intact. The peripheral lettering should be full.

OBVERSE: Part of the helmet design is still visible, and four of the rivits.
REVERSE: Parts of the motto "PRO MUNDI BENEFICIO" have disappeared.

Some marks are allowed but should not be too severe. This low grade has little numismatic value, but certainly has precious metal (silver) value.


Fine (F-12)


Moderate but even wear. Bold entire design but with some weaknesses. Deep recessed areas should retain their detail. About 50% of all the fine detail should be present.

OBVERSE: Wear shows on the beard and cheek of Balboa. Five rivits are still visible on the helmet although one or two may be faint.
REVERSE: Wear shows on the head and wings of the eagle. Motto "PRO MUNDI BENEFICIO" is still completely legible but faint.

Some marks are allowed but should not be very deep, long, or distracting. Many un Cuarto coins are in this state. They have some numismatic value, and are generally the minimum grade that collectors prefer to have in their collection.


Very Fine (VF-20, VF-30)


Generally light wear, moderate wear at high points. All major features must be present and clear. About 75% of all the fine detail should be present.

OBVERSE: At least five rivits are clearly visible on the helmet (without magnification). Helmet detail is faint but visible.
REVERSE: Flat spots show wear on eagle, especially on the breast and legs, but these flat spots do not merge together. Slight wear shows on the head and wings of the eagle. The fruits and vegetables from the cornucopia are worn flat.

Overall it should be an attractive coin.


Extra Fine (EF-40, EF-45)


Light overall wear on the highest points. Most of the devices on the coin are sharp, clearly defined. About 90% of all the fine detail should be present.

OBVERSE: All six rivits are distinctly visible on the helmet. Slight wear on the middle of the helmet.
REVERSE: Slight wear shows on the breast of eagle, and traces of wear on the eagle's head and eagle's right leg (our left). There are also slight traces of wear on the "PRO MUNDI BENEFICIO" motto, stars and lines of drapery. The cornucopia retains about 50% of the fine detail.

Traces of luster may show. Overall it should be an attractive coin.

Example of a Vn Cvarto of 1930-1947 Coin in EF-40
Example of a Vn Cvarto in Extra Fine (EF-40) Condition

The above example has six visible rivits, although the one in the middle is somewhat weak. There is light wear in the middle of the helmet, but the helmet still retains lots of detail. There are traces of luster remaining, especially around the word "DE" in the legend. On the reverse, there are medium-size flat spots on the eagle's breast and right leg. The cornucopia shows a relatively small amount of wear. Overall this is an attractive coin which I would grade as Extra Fine (EF-40).

About Uncirculated (AU-50, AU-55, AU-58)


Traces of wear or friction on the highest points. At least 50% of the original mint luster should be present. The details and lettering on the coin are very sharp and clearly defined.

OBVERSE: May have slight wear on the middle of the helmet.
REVERSE: May have slight wear (a small flat spot) on breast of eagle. There is no apparent wear on the "PRO MUNDI BENEFICIO" motto, stars and lines of drapery.

Overall it should be a very attractive coin. A novice may describe it as "shiny" and "new", and be unable to distinguish it from an uncirculated coin.

Example of a Vn Cvarto of 1930-1947 Coin in AU-55
Example of a Vn Cvarto in Almost Uncirculated (AU-55) Condition

The above example has six visible rivits, all strong. The detail in the middle of the helmet shows just a slight amount friction or disturbance. On the reverse, there are some small flat spots on the eagle's breast and right leg. The cornucopia shows a trace of wear on the bottom vegetable. Overall this is a very attractive coin which I would grade as Almost Uncirculated (AU-55).

Uncirculated (MS-60)


No trace of wear whatsoever. Original mint luster fully present, but can be poor and unattractive. Numerous marks are allowed, but not so many that the coins could be considered damaged. Overall this coin is not attractive and has poor eye appeal.

Choice Uncirculated (MS-63)


No trace of wear whatsoever. A nice uncirculated coin which is attractive and has positive eye appeal. There may be numerous marks or hairlines, including several major marks in the main focal areas. If there are distracting marks or hairlines on the major devices, then the fields should be relatively clean. If there are distracting marks or hairlines in the fields, then the devices should have less disturbance. The strike will range from about average to full. The luster will range from about average to full. There can be noticeable spotting, including several large spots or a group of small ones. Overall this is an attractive coin with some minor distractions.

Gem Uncirculated (MS-65)


No trace of wear whatsoever. Blazing original luster and virtually no surface flaws. A coin may grade MS-65 with scattered light marks, but with great luster and strike - or a coin with virtually no marks but slightly impeded luster also could be MS-65. The overall eye appeal must be very positive. There may be several scattered marks, hairlines, or other minor defects. If the flaws are in a main focal area, then they must be minor and fewer. Hidden marks and hairlines can be larger. The coin must be well-struck. The luster must be above average, and any toning can only slightly impede the luster. Overall this is a very attractive coin with nothing to detract from the eye appeal.