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In the 1950s, grading practices were radically different from what we have today. A coin's condition was described using simple adjectives such as "Very Good" or "Uncirculated". Accordingly, numismatic references of those times conformed to the same set of adjectives to approximate retail coin values. Varying distinctions of Uncirculated (today's equivalent of MS-60, MS-61, etc) and Proof were recognized in some advertisements and auction bills by employing modifying descriptors such as "Brilliant Uncirculated" or "Choice Proof", for example. However, with no clear point of reference or consistency on how the modifying descriptors were invoked, most publishers resorted to listing values for only one "Uncirculated" grade and one "Proof" grade.
The 70-point numeric system (G-4, VG-8, etc.) in widespread use today was popularized by the
American Numismatic Association in the late 1970s, an
era when coin values were escalating dramatically, most notably for high quality specimens. Vague descriptors such as "Choice" and "Brilliant" were replaced by
the more precise numerically determined grades. Thus, finely differentiated grades like MS-60, MS-63, and MS-65 became commonplace, and by the late 1980s, the practice of assigning a numerical grade to indicate quality was universal (this does not imply the 70-point system eliminated grading inconsistencies, but it did help to stabilize the coin collecting hobby).
Throughout the 1990s and into the new millennium, more grading subtleties were introduced within the framework of the grading system, including coloration of
copper coins such as Lincoln cents. Brown (BRN) is considered "normal", while Red-Brown (RB) is more desirable. Red (RED) is the most highly prized color by discerning collectors/investors, and generally carries substantial
premiums.
The Coin Value Tables™ trend data for Lincoln cents reflect the historic availability of numeric grades and coin coloration to describe coins.
For the 1950-1980 rows, the values in the "G-4" column correspond to the "Good" listing of those years, "VG-8" corresponds to "Very Good", and so on.
The "MS-60 BRN" column records the "Uncirculated" value reported during those same decades.
Similarly, "PF-65 RED" corresponds to simple "Proof"
figures. Starting in the 1985 row, "Uncirculated" grades are broken down into "MS-60 BRN", "MS-63 RB", and "MS-65 RB",
even though most Lincoln cent listings from that year placed little
emphasis on coin coloration, deferring instead to a single value for a
"typical" specimen. By the year 2000, however, value trends based on
coloration were readily available, thus we see yet a wider representation of
data based on copper color quality beginning in the Year 2000 row.
Had a collector paid the "going price" in the early to mid-1990s for what
was then a typical MS-65 Lincoln cent, one that eventually earned a RED
distinction, he (or she) would have been rewarded with huge price
advancements as the coloration phenomenon came into full vogue a few years
later. Conversely, if another collector at the same time shelled out
the same price for another typical MS-65 Lincoln cent that later had the
misfortune to be classified as BRN or RB, he would still today be hoping to
recover from the ensuing price collapse of non-RED specimens.
For those interested, we have a
coin grading section with more details on the evolution of grading coins. |
