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Note Grading Question

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GoldenChest's Avatar
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814 Posts
 Posted 01/24/2013  01:37 am Show Profile   Bookmark this topic Add GoldenChest to your friends list Get a Link to this Message Number of Subscribers
I recently picked up this lot on ebay. They are my first red seals and hawaii notes, so I'm quite happy with the price I paid despite the condition. My question is what is the highest grade a note can obtain while missing corners like these. VG8 IS what I've found from my limited research of PMG and PCGS grading guides. Id just like to bee sure of that. Also curious if NGC and ANACS grades banknotes.

http://item.mobileweb.ebay.com/view...7556&trxId=0
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United States
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 Posted 01/24/2013  07:04 am  Show Profile   Bookmark this reply Add lettow to your friends list Get a Link to this Reply
PCGS will assign its grade based on the paper present. If you took a note froesh from the BEP and cut it in half and submitted one of the halves it would receive the same grade as the entire note would have received. This has been discussed on the PCGS board many times.

Neither NGC nor ANACS grades paper money.
Pillar of the Community
United States
742 Posts
 Posted 01/24/2013  07:13 am  Show Profile   Bookmark this reply Add lettow to your friends list Get a Link to this Reply
The partial note will get an Apparent grade without PPQ but the number would be the same. See this discussion.

http://forums.collectors.com/messag...ord2=grading
Valued Member
United States
137 Posts
 Posted 01/24/2013  09:39 am  Show Profile   Bookmark this reply Add nationals to your friends list Get a Link to this Reply
I know you are probably asking just for the sake of argument. However, there would certainly be no value added in having any of those graded (in my opinion).
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Woodford's Avatar
United States
207 Posts
 Posted 01/24/2013  12:04 pm  Show Profile   Bookmark this reply Add Woodford to your friends list Get a Link to this Reply
Agreed with nationals, the cost of getting those notes graded would well exceed what you paid for them. I bought a lot from ebay similar to the one you got, GoldenChest, when I first started out and right now I'm trying to sell my VG/F 1928 $2 notes (one is missing a corner also) since I have numerous other examples in much higher grades.

A strategy I'd recommend now is buying the highest grade you can afford even if it is just a single note rather than buying a lot. Thats just my opinion.
But congrats on those notes, Are you planning to complete the set of Hawaii notes?
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GoldenChest's Avatar
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814 Posts
 Posted 01/24/2013  11:41 pm  Show Profile   Bookmark this reply Add GoldenChest to your friends list Get a Link to this Reply
Thanks everyone for the help. Yes, I'm asking just for my own sake so when I label them I can put an estimated grade on the label. I appreciate the advice about focusing o quality over quanity. I do plan on upgrading when the time is right.
I do plan on completing the Hawaii set, as it is part of my series/seal/type/experimental set. I'm still debating on collecting signatures. The over all goal is to collect one of every different note from 1900-present. Currently I have what I think is a decent collection that was mostly acquired at face value, well over $1000 fv. They are mostly FRN with a handful of silver certs and 2 national notes thrown in. Oldest currently is 1928 national and 1934 FRN, both $20 and aquired through work at FV. I'm sure you can imagine how excited I was when I saw that national, I had a stupid grin the rest of the week!
Not sure if this makes me a hoarder or a collector, but I simply cant let a small head bill pass me by at FV, regardless of condition. I enjoy the designs way more then these ugly new bills we have now and I plan on selling the duplicates to other collectors.
Ok I'm done rambling for now. Lol
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Woodford's Avatar
United States
207 Posts
 Posted 01/25/2013  01:29 am  Show Profile   Bookmark this reply Add Woodford to your friends list Get a Link to this Reply
GoldenChest, I am doing something similar to you. Trying to collect every small size note type from 1928 to 1963 with exceptions of course (No high denom. notes, Just one set of 1929 nationals from NY, FRNs from NY or Chicago, No crazy rare notes such as '33 $10 SC). Getting star notes whenever I can afford it.

It is not an easy task sometimes but very satisfying when your nearing completion. I think if you can get older notes at FV your just using common sense because the older notes to collectors always have a premium, sometimes a small amount and sometimes a much substantial amount such as finding a national like you did.
I can't believe someone would spend a national honestly, It is very obvious its different, old, and most likely worth something more than FV even to those who know nothing about collecting US paper money.

I think if you decide to do signatures as well, you just complicated your task tenfold. Personally I avoid signatures and most differences within a series.
Hawaii sets are a more pricey set to complete especially in higher grades. I currently have a $1 Hawaii in UNC, $5 in EF, $10 in VF and $20 in EF. Right now looking to upgrade my $10 Hawaii. Star notes for hawaii notes command astronomical prices so I decided to avoid those.
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