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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
the degree of separation of the horizontal fasces bands on the reverse of
mint state Mercury Head dimes. Dimes with rounded, full split bands
(abbreviated FSB) are much rarer than dimes with blended, flattened bands,
and are more highly prized by discerning collectors/investors, and generally
carry substantial
premiums.
The Coin Value Tables™ trend data for Mercury Head dimes reflect the historic availability of numeric grades and
the split band definition to describe coins.
For the 1950-1985 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" column records the "Uncirculated" value reported during those same decades.
Similarly, "PF-65" corresponds to simple "Proof"
figures. Starting in the 1990 row, selected "Uncirculated" grades are broken down into
regular and "FSB" columns.
Curiously, had a collector paid the "going price" in the 1980s (or
earlier) for what
was then a mint state Mercury Head dime, one that eventually earned an FSB
distinction, he (or she) would have been rewarded with huge price
advancements as the split band phenomenon came into full vogue a few years
later.
For those interested, we have a
coin grading section with more details on the evolution of grading coins. |