Posted By:
davidcyclebackI believe collector's grade was meant to mean cards bought by the normal, average collector on a normal, average collecting budget-- either because they have a normal, average income or otherwise a limited budget for collecting. The proverbial collector in this case can't purchase a PSA 9 1955 Bowman Mickey Mantle (or at least many of them), but can afford one in, say, grade 3. If the normal, average collector aspired to own a 1958 Topps set, he'd be able to reasonably afford a Vg example rather than a PSA graded Nrmt-Mt example.
I believe this is the original and standard auction house meaning of the term. This definition leaves room for interpretation and argument over what grades for what card constitutes collector's grade. As already noted, the term is casual and shouldn't be taken too seriously. You won't be asked to define it on your entrance exams.
The majority of people in the hobby are normal, average collectors.