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Who is in responsible for the grading process? (in terms of $)

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Answer: Dr. William Herbert Sheldon

The Sheldon Coin Grading Scale is an internationally accepted, 70-point assessment of a coin's condition and quality. It was originally developed by Dr. William Herbert Sheldon in 1949 in order to grade large cents. His scale was slightly modified in the 1970s to account for a wider range of coins.

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