cncman

Wow, I bet that shows up on coin trivia some day!

weryon

What reference book is that ?

Hobo

A clue is in Post #14.

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No state shall emit bills of credit, make any thing but gold and silver coin a tender in payment of debts, coin money . . . - US Constitution, Article 1, Section 10

ANA LM-3799; OHNS LM-59; SUSCC R-4005. All coins stored in bank safe deposit box.

bhp3rd

Up until modern times you would be correct and only if coins made for commerce were graded, coins intended for circ. - which is probably the way it should be in a perfect world.
All proofs, American Eagles, Modern Commemorative, for that matter mint sets have a built in advantage from start to finish - they are made using standards that business coins simply don't get - they really should be graded separately IMO.
As a matter of fact, and we have argued this recently on Coin Talk one could support an argument that those coins mentioned are not really coins because they do not, were not, intended for commerce, that plus their primary purpose is int fact something other than coinage with value inherent for purchasing in the United States.
Isn't it very interesting indeed that about the time American Silver Eagles were started (1986) the first (PCGS) grading company also started.
I have never put the two together until this moment and to throw those(mentioned above) coins in the same bunch as made for circulating coinage puts the business strikes at a disadvantage form the get-go.
It's not very hard at all to grade a coin that was struck special, handled special, packaged special and never dumped in a tub but protected all the way into the customers hands. I mean, what are your choices, MS or Proof 67, 68 or 69 or the probably should not be reached lofty grade of MS or Proof 70.
Just some thoughts on the subject - you may like what you like, I sure do.

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tommyc03

Ah, how I remember the good ole days. The MS system was a gimmick developed by a crook for sure. It was invented for the investors and wheeler dealers who needed an excuse to get more for their coins then they were really worth. Then they did it with lunch boxes, stamps and finally comic books. it left the little guy out all around. If honesty were still the best policy, we would still have everyone grading by the old standards for sure.

timothytrout

What exactly ARE the old standards? I'm new to this, but based upon the base 10 numerical system we use - also arbitrary, but it has attained mass usage - I would say that a 100 point grading scale would make sense. Like measuring temperature in Celsius. . . but then again, why would we do that?

fretboard

So how much does it cost to have coins graded, I heard on one of the auction channels that it cost $30 bucks a coin, is that true?

GDJMSP

It depends on the coin and the grading tier you decide to submit it under. Grading fees are determined what tier you choose and the value of the coin. The more expensive the coin, the more it cost. But it can basically range anywhere from say $10 if you get a bulk discount to several hundred dollars - per coin.

As for the old standards, you'd have to read Brown & Dunn's grading standards. They were the first, published back in 1949. Not having a copy at my fingertips right now they went something like this - AG - G - F - VF - XF - Unc - and that's it.

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fretboard

Yeah, I remember those when I was younger, alot younger. In fact when I got back into collecting I was shocked to find this new grading system. As someone said above, comic books and baseball cards had been done so the grading of coins was just a matter of time, and money.

jessash1976

Does anyone have a Sheldon list for Large cents handy. I would like to go through mine, to see if I have anything of worth.

PeacePeople

hmmmm...somebody has breen doing some reading???

weryon

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yakpoo

My 1971 Red Book lists them like that. Do you recall what year it changed?

Say...it says here I can buy a "Unc" 1916-d Mercury dime for $675 (WooHoo!)

GDJMSP

1977 - and it evolved from there.

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DoK U Mint

Humm....my 1962 15th Rdition Yeoman's lists the 1916D for a meager $400.

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