Part Four - Martin Brown and John Dunn (1958), The First U.S. Coin Grading Book

During the 1950s, interest in coins grew tremendously. Prices were on the rise, and the number of new collectors entering the hobby turned it from a rather small fraternity into a national hobby. Coins like the low-mintage 1950-D nickel and the 1955 Doubled Die cent captivated the interest of the general public and "checking change" became a nightly ritual for many.

In 1958, Oklahoma dealers Martin R. Brown and John W. Dunn published the first book devoted exclusively to grading U.S. coins. Entitled "A GUIDE to the Grading of United States Coins," it was a simple 66-page booklet containing no photographs or drawings. It simply described the key points of wear, and qualifications for achieving a particular grade for every major U.S. coin type. [Interestingly, Brown and Dunn provided unique descriptions for early (1916-1920) and late (1921-1947) Walkers as well as the 1932 Washington Quarter.]

In the introduction, they recognized six basic circulated grades (Good, Very Good, Fine, Very Fine, Extremely Fine and About Uncirculated) and included two others for early and rare coins; Fair and About Good. While the booklet didn't address the grading of uncirculated coins in detail, they did note that "even in uncirculated coins there are grades" and they mentioned Choice, A-1, Select and Gem. While "A-1" never caught on, the other descriptions seem to have stuck.

This modest little booklet was so popular that within five years, there were three editions, and Whitman Publishing acquired the rights to the work. The fourth edition (1964) was a 206-page hardcover book and included line drawings for the first time.

In the preface, it was noted that "the line drawings represent the farthest advance in coin grading to date. Strictly speaking, they are diagrams. Placed as they are, adjacent to each paragraph of word-description, the task of arriving at the condition of any coin becomes pleasantly accurate."

During the decade of the 1960s, the Brown and Dunn standards were almost universally adopted throughout the hobby. Numerous ads in Coin World or Numismatic News carried a small note proclaiming that the coins were "graded to Brown and Dunn standards." By the end of the decade, the book was in its sixth edition, sporting a red, white and blue cover.

Inside, the authors attempted to extend the grading system to incorporate flaws in coins, whether mint-made or damaged in use. They developed a sort of "shorthand" nomenclature, to identify a rim nick, or scratch on a coin, appending a series of letters and numbers after the grade to describe a particular flaw and its location. Due to its complexity, this idea never caught on.