Posted By:
Bill Todd...just not here.
The coin grading system in current use was originated in the 1800s. Don't remember offhand who it was that came up with it, but he felt that the numbers reflected a rational pricing structure. Grades went from 1 to 70. 60 is uncirculated, and 70 is perfect. An uncirculated coin "should" trade for about 60-70 times the price of a real beater. (At that time, anyway.) Eventually there was the "half grade" of 65. And, of course, then the 62 and 63. And 64 for the coin that "didn't quite make it"...ad nauseam. You just wait. In another 20 years, you'll see PSA grading cards as 7.3s.
Bill