PMG does not mention pinholes in their grading scale but PCGS lists a pinhole as being a reason to mark down a note to a 64.
"64" is an intermediate grade reserved for notes that are better than Choice New but that don't quite reach the Gem grade. Such notes may have minor faults such as a couple of unobtrusive counting marks, ink or handling smudges, a single pinhole, or a rounded corner tip."
"64" is an intermediate grade reserved for notes that are better than Choice New but that don't quite reach the Gem grade. Such notes may have minor faults such as a couple of unobtrusive counting marks, ink or handling smudges, a single pinhole, or a rounded corner tip."


















