In Spanish numismatics, the rarity of a coin is classified according to the number of known examples and its frequency of appearance on the market. This scale helps collectors and professionals assess the difficulty of finding a specific piece and, therefore, its potential value.
The most commonly used scale in Spain is the following:
Some catalogs and auction houses may use intermediate grades (such as R4, R5, U for “unique,” etc.), but the table above summarizes the most common grades.
Differences between the degrees:
Scarce (S): There are relatively few examples, but they can still be found at auctions or in specialized stores. There are usually between 100 and 500 known examples, although this number can vary depending on the series or catalog.
Very rare (EE/ME): The difficulty in finding this coin is considerably greater. There may be between 30 and 100 known examples, depending on the source.
Rare (R): Very few known examples (often fewer than 100, sometimes up to 75 or even fewer depending on the series). They are rare and often fetch high prices.
Very rare (RR): Extremely difficult to obtain, with fewer than 30 known specimens in most cases.
Very Rare (RRR): Practically unique, with fewer than 10 known examples. Sometimes reserved for unique pieces or those with only 1 to 5 known examples.
Additional considerations
Rarity is relative: It can vary depending on the coin's condition. A common piece in fair condition may be very rare in uncirculated condition.
It's not just about the mintage: The number of coins minted doesn't always match the number that has survived to this day. Rarity is based on the number of coins actually available to collectors.
Supply and demand: Collector interest also plays a role. A coin can be rare on the market if demand exceeds supply, even if more examples exist in private collections.
This scale is a fundamental reference for valuing and classifying coins in Spain, although there may always be nuances depending on the historical period, the series, or the catalog consulted.
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