The PCGS Grading Standard was first used by the numismatic community; both the collectors who buy the coin and the dealers who sell them, in 1986. At that time, the PCGS Grading Standard was the consensus opinion of the grading experts at PCGS, along with comments and suggestions from the dealer-experts who provided PCGS with input on PCGS grading. In 1988, PCGS constructed a grading set. The PCGS Grading Set consisted of a small group of example coins in various grades from the major coins series, including $20 Saint Gaudens and Morgan and Peace dollars. The grading set was used as a reference by PCGS graders and was also displayed at major coin shows.

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