Coin grading is the process of determining the grade or condition of a coin, one of the key factors in determining its collectible value. A coin's grade is generally determined by six criteria: strike, preservation, luster, color, attractiveness, and occasionally the country/state in which it was minted. Several grading systems have been developed. Certification services professionally grade coins for tiered fees.
A Canadian silver coin graded by Professional Coin Grading Service as PR69
Coin slab is a type of holder for a coin. Slabbed coins are typically from one of the coin grading companies. The practice of sending coins to third-party grading companies and then "slabbing" them began in 1986.
Graded Morgan dollars within a variety of coin slabs
Reverse of PCGS coin slab with hologram in upper right corner