For as long as I can remember.... dating back to my early collecting days in the 1960's-70's I always remember using the Sheldon scale of 1-70 for a basis of a coins preservation.
In 1949, the original scale was first presented in "Dr. William H. Sheldon's Early American Cents" titled "A Quantitative Scale for condition" as a way to grade Large cents. The scale is known today as the Sheldon scale. However it really developed in the 1970's when the ANA standardized the scale.
For many novice New collectors the numbering system does not really seem intuitive so in a burst of marketing genius NGC had come up with the idea of using the 1-10 system (currently in use for other collectibles) for coins....
What follows below is their press release...
Numismatic Guaranty Company™ (NGC®) is excited to introduce NGCX, the first 10-point grading scale for coins. The 10-point grading scale has long been the standard for most collectibles, including comic books, sports cards, trading cards and more. Now, with NGCX, coin collecting will benefit from the same intuitive and approachable scale.
Certainly IMHO this will help draw new collectors into the hobby and simplify modern coins. Whats your thoughts?