Most modern collectors are familiar with the 1-70 grading scale popularized by
.
Just not as familiar as they think they are.
To start with, the Sheldon Scale was never intended to be a grading scale, but a pricing one. VF30 is worth half as much as MS60, and three times as much as VG10, etc. Even before it was published, it was obsolete, though the numbers worked surprisingly well for circulated coins.
, I found a tidbit about Sheldon to be most illuminating.
Quote:He is currently known to have stolen cents from the
American Numismatic Society, from Abe Kosoff, from Stack's, from the T. James Clarke Estate, from the Gaskill collection, and from New Netherlands. Sheldon wrote and published Early American Cents as part of his plot, for if he could become the expert on cents and on grading, he would be less likely to be found out.
Somehow, in its own peculiar way, like John Jay Ford, Jr. making fake gold bars to fund his $30 million coin collection, this seems to fit the whole
miasma.