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 Replies: 7 / Views: 1,903 |
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Pillar of the Community
United States
1812 Posts |
How can PMG grade a piece of currency Choice Uncirculated 64 when it has ink marks on it (I know it's signatures, but it's still ink)... I could see if they gave it a Details Grade as ink is ink and should not receive the grade it did (or am I now "old fashioned") When I first learned how to grade currency (before there was any TPG Services), it was impossible to receive any type of Uncirculated grade if there was any type of ink stain/writing on the note... All I can say is;  WHAT AM I MISSING HERE http://www.ebay.com/itm/33074683637....m1423.l2649
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Valued Member
United Arab Emirates
242 Posts |
There's a comment on the back of their tag reading:
"Pen Annotations"
Most probably, note is graded as "NET" 64 Choice UNC, but the seller didn't snap the whole PMG holder ...
As per PMG grading term, NET means:
"A "net graded" note is one which has had an adverse occurrence after it left the BEP. PMG will specifically state the reason(s) why any note is net graded. The PMG guarantee is not valid on any net graded note. A few reasons why a note may be "net graded" are tear, corner missing, repaired, re-embossed, washed, stained, ink or writing and PVC damage."
Cheers
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Bedrock of the Community
United States
14454 Posts |
looks like the seller thought that PMG would authenticate the signatures also (not sure they ever did) but they didn't and just marked it with Pen Annotations on the reverse of the holder label Edit: this is the Heritage Auction where he purchased this note and another one, so the signatures should be legit as he says because it is from the Monte Sherwin collection http://currency.ha.com/c/item.zx?sa...&lotNo=31238 I couldn't tell what the note said on the first line until I went to Heritage to look for it, the top line says "to Monte Sherwin" and the second line is her autograph |
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Pillar of the Community
United States
1285 Posts |
This is similar to "courtesy autographs" by the treasurer and or secretary of the treasury. Also the there are postmarked $2's as well....The notes with Sigs and Post Marks are grades for the note and I have seen grades as high as 67.
IF you look at the note closely there are minor imperfections...like a slight fold / bump toward the right margin when viewing....those little imperfections from handling will knock a notes grade down.
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Pillar of the Community
 United States
1812 Posts |
Thanks for the education on this, as I was taught (long before the TPG services graded currency) that any currency with a ink (signatures / short snorters, etc.) could grade no higher then a AU and was worth a premium for signature collectors... I remember back in the early 1970's being at a large coin show where a currency dealer (I believe it was Denly's of Boston, but not 100% sure) refused to pay over face value for a $500.00 Note due to a 3 digit number written in ink on the left side... After the person left the table, I followed him and asked if he would sell it for 10% over face, and that was my first purchase of a $500.00 note... As mentioned on another thread, when my interest turned into errors, I sold my currency collection... |
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Pillar of the Community
United States
1285 Posts |
What you are referring to is would be considered ink stains / writing on a note etc. On common notes even on a $500 I could see the dealer turning it down. That's a big nut to carry around.
FWIW, I have rare fancy sn's with ink stains folds etc......but the notes are still rare at the end of the day, meaning extremely difficult to locate / let alone buy as they rarely show up for sale.
To circle back...Is it rare / what are odds of finding the note etc...even though the notes have writing or not. I am somewhat deviating from your original question...hopefully you get the idea of what I am referring to.
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Pillar of the Community
United States
1812 Posts |
I enjoy reading Dave Bowers articles in Coin World, and while it's good to think about the past, it's time to change with the times... I really wasn't putting the note down, just curious to see how the hobby had changed in the past 40+ years... I remember years back reading a article (with photos) of the BEP laundering dirty and soiled notes, then releasing them back into circulation... It would be interesting if such a note (reguardless of grade) was located and submitted to PMG or PCGS to see if they would add the notation "past cleaning at the BEP"... I also know that when it comes ro rarity, sometimes condition has to take a back seat as when I used to collect Broken Bank Notes & Obsolete currency, sometimes the only piece available for sale would be a note with a large piece missing (and the catalogs show this) and I had no problem purchasing them in that condition... |
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Pillar of the Community
United States
2295 Posts |
That is interesting to note how grading has changed.
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Replies: 7 / Views: 1,903 |
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Posted 09/21/2012 1:57 pm
