Characteristic Ratio (C.R.) is a numismatic term coined by the late numismatist Walter Breen in the 1950s and used to denote the percentage of the original mintage that remains in the hands of collectors. Breen gave the following examples of C.R. bands and their meanings:
- Characteristic Ratio of “nearly 100%”: A special mintage was struck and remains virtually intact
- C.R. of 10% to 60%: Indicates some degree of hoarding
- C.R. under 1%: Mass destruction befell the issue
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