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<p>[QUOTE=&quot;Cringely, post: 907814, member: 22271&quot;]A crude (by today&#039;s standards) grading system predated Sheldon&#039;s 1949 assignment of numerical values to commonly accepted descriptive (adjectival) grades. Sheldon derived the numbers based on relative pricing of 1793 - 1814 large copper cents. At that time, there was a linear relationship between Sheldon&#039;s assigned numerical grade and price. By determining the relative pricing and descriptive grades, Sheldon determined that a &quot;good&quot; condition coin had a relative price of 4, VG was 8, ..., almost uncirculated (AU) was 50 and uncirculated coins ranged from 60 to the ideal perfect coin being 70.</p><p><br /></p><p>I should point out that the pricing relationship between grades is no longer linear, but exponential. I&#039;ve submitted an article to <i>The Numismatist</i> detailing the relationship between pricing and grades. I&#039;ll let the list know if it gets accepted.[/QUOTE]</p><p><br /></p>

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