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<p>[QUOTE=&quot;Conder101, post: 1605189, member: 66&quot;]And it wasn&#039;t a grading system, it was a pricing system.&nbsp; The numbers had absolutely no meaning until you had determined an accurate grade for the coin, and they used all the adjective grades we do today (until you reached the Unc coins).&nbsp; Once you had the adjective grade you then looked up the price of that variety in Poor condition and multiplied it by the multiplier for that adjective grade.&nbsp; The numbers came from the historical ratios of prices between the grades at that time.&nbsp; A VG tended to sell for twice what a Good coin did, a Fine sold for three times the Good price or fifty percent more than the VG price and so on.&nbsp; A Good tended to sell for 4 times what a Poor coin did.&nbsp; And that was how the multipliers were established. Poor-1, Good-4 (4 times Poor), VG-8 (8 times Poor or 2 times Good). Fine-12 etc.&nbsp; Sheldon thought he had found some kind of natural law for the pricing of large cents or at least 1794 large cents which was what it was designed for.&nbsp; He thought that because cent prices had been relatively stable for 25 years.&nbsp; But as more collectors entered the hobby naturally they pursued the better coins and this changed the ratios so now the numbers have absolutely no meaning whatsoever.[/QUOTE]</p><p><br /></p>

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