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Just curious: What was the history on "70" ending up being the top grade number?
WingedLiberty1957
Posts: 3,017 ✭✭✭✭✭
Why 70?
As an addendum, why is there an irregular spacing between other grades? 35, 40, 45, 50, 53, 55, 58?
Was this just pulling numbers out of a hat? Or was there well thought out reasoning?
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Wiggle room, kinda like a report card from the 1950's.
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wiggle room to go to 80 someday? and or 59 ? It all just seems so arbitrary. Perhaps there was a madman at the helm when this was decided.
in the 1960's I remember codes like UNC, BU, Choice BU, Gem BU. I dont recall numbers like 63, 65, 67, 70 -- but maybe those had already started in inner circles?
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Dr Sheldon created the “Sheldon” scale for grading To try and assign a value by state of wear for large cents. 1 being basal value and a cent graded 70 being worth 70x basal value for the date. Maybe at the time he felt no cent was worth more than 70x basal value for any given date. Each date was given a separate basal value based on rarity etc. Not sure when it was adopted by others.
I suggest reading Penny Whimsy.
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As the premium on many 70 moderns has evaporated, a 71 makes sense.
Not sure which smiley to use here.
See this article:
https://coinweek.com/education/coin-grading/the-early-days-of-numerical-coin-grading/
So now We have found the culprit.
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The numerals eventually became synonymous with the wording; ie, Unc = MS60 to 62, Bu = MS63, Choice BU became MS64, Gem BU MS65, Choice Gem MS66, Superb BU MS67, Choice Superb MS68. Choice meaning, a coin picked from its former grouping.
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That's how I remember the 1960's. No fuss; no muss.
Great article!
Here is a nice, short, explanation with out a lot of history. You can download it for ready reference.
The original top number was one lower, but the censors stepped in. The did the same when Trans World Airline and Transport first abbreviated their name and painted it on their aircraft. No, seriously.
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Thanks for all the great info on this.
The numbers were always there..........just didn't use them for advertising.
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Thirty years ago computers used "IBM" cards which held 80 characters of data.
Grades 01-70 took two characters while grades 001-100 took three.
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Kinda like after 9/11 when reporters were calling it The War Against Terror...which was dropped rather suddenly.
Interesting articles posted above.
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The Captain sure was one of them.
I'll add that AFAIK there were no coins graded '70 until around the late 1980's (can anyone help me out here?) although perfect coins had always existed. My guess is ANACS was the first to break the ceiling. Otherwise, it was PCGS. That coin was probably a "modern." NGC was the last major TPGS to adopt the grade.
I can remember the fuss when a Barber quarter was graded 69 by a major service.
While I was at ANACS, we grade a Matte Proof Saint a PF-70. Probably around 1980 or 81. Gorgeous coin and flawless.
Thank you! We now know the coin and the major TPGS that was first to assign that grade.