Ignorant Aussie Has Some Questions About Sheldon Grading System

One should perhaps differentiate between "The Sheldon scale", which is what Americans in general, and now the American TPGs specifically, use, and the American grading standards. You can use the Sheldon grading nomenclature with any grading standard you please. Except on ebay, where using the Sheldon scale for non-slabbed coins is banned.

As an example, I personally have used the Sheldon scale in my coin database for grading my own collection, ever since I was introduced to it while living in Canada as a child in 1983. But the standard I use for grading all my coins is still the Australian standard. Thus, a coin I personally grade as "EF-40" would probably come back around AU50 if I were to get it slabbed.

A an aside, for those who do not know: the Sheldon grading scale was invented by American numismatist William H. Sheldon in his 1949 catalogue "Early American Cents". Theory behind the scale was simple: each coin was assigned a "basal state" value in the book, and this was the only value stated in the book. To work out the actual value of any specific coin you might have in your possession, you would multiply the book value by the Sheldon points assigned to that grade. Thus, if the BS value was $1.00, and your coin was in gVF condition (VF-30), then the book value for your coin would be worth $30. An EF condition coin of that exact same type would be worth $40, and so on. Simples.

The scale "worked" in 1949 for early American cents, but ceased "working" (in terms of accurately calculating coin values) shortly afterwards, and never "worked" for any other coinage series. Mainly because of the rapidly increasing value expected and demanded for higher-grade examples. But it was a popular book, and the system caught on. Even in Australia, if Basil's anecdote is fair dinkum.

Machin, there is no "one true grade" with slabs. That is why there is the crackout game and also why dealers will have several coins of the same date and grade at different prices as some are at the top end of their grade and others at the bottom.
Sap, I'd agree with "truly rare and valuable" describing Gem pre decimals, but I cannot accept that the Unc level only kicks in at MS67, otherwise for most pre decimal years and denominations (ex QEII) there are no examples in Unc. As for the term 'Gem"; that is a term freely used by dealers for coins that are no better than ChUnc, and often only Unc. True Gem coins are only a few percent of what ends up in MS65 slabs and less than half of the MS66 slabs.

I also have a personal memory of Alan Kingston at his small George Street shop in Sydney.

I presume from the designation "Mint State" that MS60 is the lowest possible grade for a freshly minted coin. viz all coins begin their life at MS60 or higher (I'm not talking about proof coins)

Or do they start higher and fall down to the lower MS grades after they land in a pile of other freshly minted coins and accrue "bag marks"?

I became good friends with M.R. (Bob) Roberts, his LCS in Wynyard Arcade I visited his LCS very often, on my home from work. I worked for 14 years in nearby Australia Square, - the round tower building.

Dave Allen who was a geologist, who worked for Bob for most of his numismatic life, later worked for I.S. (Stuart) Wright. Dave sold his very extensive collection of historic Australian medals and checks and tokens a few years ago. I sold an Aureus of Claudius to him in 1976. I believe he still has it.

I also developed a close acquaintanceship with many of Bob Roberts' clients. One of his clients was a pHd in geology, his rather extensive collection was only recently came to public auction. I was fortunate enough to examine quite a few of his more significant pieces at the pre auction view day.

Dave Tully also traded at two locations in the Sydney business district. I bought my first Roman gold coin from him (a Solidus of Constantius 11). The first Roman coin I bought from him in 1964, - a denarius of Antoninus Pius, with modius & corn ears reverse in VF, for $4. I sold it along with the Solidus to Dave Allen in 1976.

I sold the whole of my collection in 1976, which raised 15% of the total value of my first house for a mortgage. That is the reason why I have never paid a cent in rent for my whole life.
Since 1976, I have built another collection of quite a few thousand pieces (mostly valued at less than $20 each)

Currently, I just feel to be very fortunate to be a member of the CCF.

Hi Basil, I hope this forum (and Marks) keeps going forever. Whatever we post here is for the benefit of fellow collectors. Whatever is posted on Farcebook belongs to a mega corporation forever with them able to use/distort/commercialize forever in any way they want and you as the author has no say in that. So I'm not on any of those corporate media sites and never will be.

Is there anywhere that shows the same coin type in every possible Sheldon grade?

Thanks trig.

AU53 is not very flash is it. What Australian grade do you think that corresponds to?