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Pillar of the Community
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Edited by WheatBack
08/25/2018 8:48 pm
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Pillar of the Community
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Pillar of the Community
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Nice notes WheatBack  The stamp cancelled 76 was interesting. I didn't realize the TPGs would grade these stamp cancelled notes. So, I did a quick ebay search and saw that there are several available (none with a courtesy autograph like yours though  ) I also noticed that none of these notes was graded above 64. Do you know if it's PMG policy that because of the stamp cancellation the highest possible grade is 64? or does it just happen that nothing graded higher is currently available (or recently sold) on ebay? |
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Very nice! |
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Pillar of the Community
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Quote:I also noticed that none of these notes was graded above 64. Do you know if it's PMG policy that because of the stamp cancellation the highest possible grade is 64? or does it just happen that nothing graded higher is currently available (or recently sold) on ebay? That's an interesting observation and I think you may be correct. I searched through Heritage and all stamped notes graded by PMG were 64 or under, with no EPQ. PCGS, on the other hand, had a 65PPQ graded. |
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Pillar of the Community
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Quote:
That's an interesting observation and I think you may be correct. Since a note graded 65 or higher must have the EPQ designation and Quote:
PMG uses the designation Exceptional Paper Quality (EPQ) for notes that, in the opinion of PMG graders, are original. By original, we mean that a note has not been physically, chemically, or materially processed to lend the appearance of a higher grade. Maybe they consider the stamping process an alteration that disqualifies a note as EPQ? even though the stamping process does not do anything to the note to give the appearance of a higher grade? If that's the case, then PMG seems to be a bit inconsistent as the other alteration on your deuce (the courtesy autograph) does not preclude a note being given the EPQ designation as several autographed 65 and higher notes are available/previously sold. I suppose PMG would have to be asked about this to know for sure, so I've sent them a query about it. Edited by BadDog
08/26/2018 12:19 pm
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Bedrock of the Community
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94367 Posts |
I'll be interested to hear.
Wheat - That's a wonderful Grove City note, congrats.
Edited by Coinfrog
08/26/2018 2:54 pm
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Pillar of the Community
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1376 Posts |
Received a response from Jennifer at PMG in reference to my question about the stamp cancelled notes. PMG always seems to provide great customer service (and Jennifer in particular is really good about this) with regard to answering queries quickly. My question - Quote:
I have noticed that none of the series 1976 $2 Federal Reserve Notes with first day of issue stamp cancellations on them have been graded by PMG higher than Ch Unc 64 and none of them have an EPQ designation. Is it's PMG's policy that the maximum grade these notes can be given is Ch Unc 64? or have I just never happened across any note graded higher or with an EPQ designation? Thank you. PMG's response - Quote:
No, we have no such policy regarding notes. Every note is graded solely on the individual condition of the note. It is possible that we just have not received any that our graders felt qualified for EPQ designation. As far as I'm concerned, the response is a bit hard to believe, as I think most of these notes went straight from the bank, to the post office, to storage as souveniers. I can't imagine any of them being "enhanced" in any way. You'd think they'd all qualify as EPQ. Now I'll have to be on the lookout for one that is designated as EPQ. EDIT: Currently, there are 8 (if I didn't miscount) PCGS graded stamp cancelled notes for sale on ebay: 5 66PPQ, 1 65PPQ, 1 64PPQ and 1 64 (and 1 66PPQ sold recently). These numbers are more like what I would expect for these stamp cancelled notes. Edited by BadDog
08/27/2018 1:40 pm
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Bedrock of the Community
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Interesting. Thanks for the research and report, BadDog.
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Pillar of the Community
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I'm a nationals guy,and that Grove City is cool! preserve it for its history
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Bedrock of the Community
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Pillar of the Community
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  Madill is a railroad town in south central Oklahoma just north of the Red River. (I mainly just collect Texas but couldn't pass this one up!) #5404 was originally chartered as "The Cotton National Bank of Oakland Indian Territory" on June 6th of 1900. That bank issued a whopping total of 170 2nd charter brown backs with the Oakland title evenly split between 50's and 100's. The bank then changed it's name and moved southeast to Madill about 6 months later in January of 1901. It then issued 2nd and 3rd charter notes with the new Madill title. It did not issue 1929 small size notes. I suspect the move was because the railroad was in Madill and the railroad is where the action happened to be 117 years ago! Oakland, Oklahoma is still around and is just a northwest of present day Madill. If you blink while passing through it you just might miss it! This is one of the more interesting Oklahoma notes I've had the pleasure to own. Edited by westernsky
08/29/2018 02:08 am
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Bedrock of the Community
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Being from Texas, that note holds no interest to me, westernksy.  Kidding, very cool. I like that vignette with the two ships and that menacing-looking lady with the spear and shield. And how do you find the history on these banks? Very interesting and informative! Congrats on a nice note. Edited by CelticKnot
08/28/2018 11:47 pm
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Pillar of the Community
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7679 Posts |
CelticKnot...
I get most of my info from an old copy of the infamous "Kelly Book" and an old copy of Hickman/Oakes' "Standard Catalog of National Bank Notes". There are tons of info in both books regarding notes issued and bank history. You can sometimes find additional historical bank info in local town websites, too.
Thanks for the comments!
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Pillar of the Community
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5029 Posts |
western that is a great note. That is a very nice add to a collection. And even more so in my mind since I live in Oklahoma. |
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Posted 08/25/2018 9:13 pm
