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VF verses XF recognized grade levels.
fivecents
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Hi David,
Any idea why the grade of Very fine has four recognized grade levels(VF20, VF25, VF30 and VF35) and a 20 point grading spread from VF20 to VF39, While the grade of Extra fine has only two recognized grade levels(XF40 and XF45) has only a 10 point grading spread from XF40 to XF49? It seems to me Extra fine should have the same recognized grade levels and number of grading points.
Any idea why the grade of Very fine has four recognized grade levels(VF20, VF25, VF30 and VF35) and a 20 point grading spread from VF20 to VF39, While the grade of Extra fine has only two recognized grade levels(XF40 and XF45) has only a 10 point grading spread from XF40 to XF49? It seems to me Extra fine should have the same recognized grade levels and number of grading points.
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The 1 to 70 grading scale was first devised by Dr. William Sheldon in 1949 in his book "Early American Cents." The numerical scale represented the market value of a common variety 1794 large cent. XFs were worth $40 or $45 depending on how nice they were. VFs were worth anywhere from $20 to $35 depending on whether they were high end or low end VFs.
Some have said that if Sheldon had waited until the 1950s we may have had a 1 to 100 scale. But I knew Dr. Sheldon and I know for a fact that the reason the grading scale stops at 70 is because that is the average IQ of coin dealers.
Thanks.
David