The Sheldon scale is the standard numerical grading system used for US coins, developed by Dr. William Sheldon in 1949.
History
Dr. Sheldon originally created the scale to price Large Cents, where each grade point corresponded to a price multiplier. While pricing has evolved, the scale remains the industry standard.
Scale Breakdown
1-3: About Good (AG) - Outline visible, heavily worn 4-6: Good (G) - Major design elements visible 8-15: Very Good (VG) to Fine (F) - Increasing detail 20-35: Very Fine (VF) - Clear details, light wear 40-45: Extremely Fine (XF/EF) - Light high point wear 50-58: About Uncirculated (AU) - Slight wear, luster present 60-70: Mint State (MS) - No wear
Why 70 Points?
The scale was originally designed to correlate with pricing for Large Cents, where an MS-70 would be worth 70 times an AG-1 coin. The mathematical relationship no longer applies, but the scale persists.
Modern Application
Today, the Sheldon scale provides: - Universal language for describing condition - Standardized pricing benchmarks - Objective comparison between coins