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Message:: [QUOTE="Conder101, post: 2975615, member: 66"]First you have to understand why we have all 11 MS grades.  Originally when the ANA adopted the "Sheldon" system there were only 3 MS grades, 60, 65, and 70 and 70 was a "theoretical" grade and not actually used.  So in practice there were only two grades. But due to high price jumps there was pressure to create additional in between grades.  People thought "OK my coin isn't good enough to be a 65 but it is definitely better than your typical 60."  and "Well it isn't perfect, but it's better than your average 65."  So the ANA bowed to pressure and added 63 and 67. The market kept rising and people started "unofficially" using the 64 grade, and the ANA started looking at adopting it officially. About that time PCGS started operation and they were using all 11 MS grades  (Although it was several years before they actually did use all of them.  In their early years grades above 65 were unusual and above 67 pretty much unheard of.)  This forced ANA's hand and they officially adopted all 11 MS grades. The ANA originally only recognized AU-50 and 55.  Due to market pressure I think they now recognize 53 and 58 as well.  Let price differential between AU and MS continue to grow and I would think we may eventually see more AU grades.[/QUOTE]