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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 1980s and 1990s and into the new millennium, more grading subtleties were introduced within the framework of the grading system, including
the degree of detail present in the head features of Miss Liberty on the obverse of
mint state Standing Liberty quarters. To qualify for a Full Head
designation, Type 1 quarters must have full details in Liberty's hair, a
complete hairline along Liberty's face, a visible eyebrow and a rounded
cheek. Type 2 Full Head quarters must have three well defined leaves in
hair, a complete hairline along brow and across face, and a small
indentation at ear. This
quality is a result of sharp strikes using fresh dies, and has nothing to do
with wear, as well as insufficient metal flow into the crevices of the die. These Standing Liberty quarters are designated as "Full
Head" (abbreviated FH),
and are more highly prized by discerning collectors/investors, and generally
carry substantial
premiums.
The Coin Value Tables™ trend data for Standing Liberty quarters reflect the historic availability of numeric grades and
the Full Head 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.
Starting in the 1980 row, selected "Uncirculated" grades are broken down into
regular and "FH" columns.
Curiously, had a collector paid the "going price" in the 1970s (or
earlier) for what
was then a mint state Standing Liberty quarter, one that eventually earned an FH
distinction, he (or she) would have been rewarded with huge price
advancements as the full head 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. |