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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
eventually 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).
The Coin Value Tables™ trend data for Peace dollars reflect the historic availability of numeric grades to describe coins.
For the 1950-1985 rows, the values in the "F-12" column correspond to the "Fine" listing of those years, "VF-20" corresponds to "Very
Fine", and so on.
The "MS-60" column records the "Uncirculated" value reported during those same decades.
Similarly, "PF-65" corresponds to simple "Proof"
figures. Starting in the 1980 row, coin values strictly correspond to
numeric grades grades. Furthermore, "Uncirculated" grades are broken down
with greater specificity
beginning in 1980, because by then, this type of value data for Peace
dollars was becoming more readily available. Today, many gradations
between 60 and 70 are routinely reported on.
For those interested, we have a
coin grading section with more details on the evolution of grading coins. |