CPM Forum
General => Banknote Grading Standards and TPG => Topic started by: Ottawa on July 27, 2008, 09:37:30 am
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I recently came across a rather unusual PMG grade, i.e., UNC-61. It's Item #200241677059 on eBay (see images below).
One naturally has to wonder what the difference is between an UNC-60 and an UNC-61, especially since the note in question is described on the holder as having "Staple Holes and Discoloration from Mounting".
The major problem with PMG grading, in my opinion, is that nowhere on their web site (to my knowledge) do they actually define what their grading system is. That's why I like the Charlton grading system. Charlton describes exactly what is, and what is not, allowed on a high grade note. For example, a Charlton Unc or higher grade note must not be processed or pressed, a Gem Unc must be well centered, etc. The Charlton concept of "Demerit Points" is a most excellent one in my opinion as it removes most if not all of the subjectiveness of grading.
{http://img.villagephotos.com/p/2008-1/1293040/PMG-UNC61a.JPG}
{http://img.villagephotos.com/p/2008-1/1293040/PMG-UNC61bjpg.JPG}
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especially since the note in question is described on the holder as having "Staple Holes and Discoloration from Mounting".
Obviously the staple holes are Well Centered and Discoloration makes the note more Vibrant in color ;D
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I would have always thought staple holes bring down the value by as much as 50%
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I recall talking to an international note specialist and he said some foreign notes are often delivered stapled in bundles and are 'considered Unc', while the ones without tend to be specimens. In this case not always.
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So it seem that the paper money grading is getting just as technical as coin grading. By adding these ALMOST and ABOUT grades to the notes will it bring that little extra premium to the note or are you willing to pay that little bit more for the ALMOST or ABOUT grades.
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is it a surprise that PMG make such a grading? look at ebay#320286956588, the seller posted a few examples:
1) a 1880 US$50, graded AU58 both by CGGS and CGA, but PMG graded Choice Unc 64
2) a 1934 US$1, graded AU58 by CGA, but PMG graded Choice Unc 65
and more:
3) a 1917 US$1, graded by CGC as EF45, but PMG graded Choice Unc 63
4) a 1934 US$10,000 graded by CGA as Crisp Unc 60 but restored, PMG graded Choice Unc 63
please dont tell me these are due to canadian and american standards and please dont tell me a restored note can be graded as Choice Unc 63. If so, i'd like to know under what grading system a restored note can be graded as Choice Unc 63.
this is totally unacceptable, imagine if a collector paid a premium and bought a note as Choice Unc 63 and after certain years, he found that it is only a EF45 and worth much much less? this will definitely damage the hobby.
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You're telling me. I was going through some photos for the wiki, and I actually found one little gem. A *R/C Be-Co note graded by PMG GUnc-67 EPQ, but there was an obvious (and major) edge ding on the top.
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It is always welcome by a person who wants to have his/her note graded with a higher grade, esp if he/she wants to sell the note and the reason is very obvious, he/she can sell it at a higher price. Even to a person who just want to have a note graded without intention to sell it, would welcome a note graded higher cuz he/she thinks that he /she bought the note cheap and have a bargain. So some companies always grade the submitted item higher in order to get more business. I have seen this so many times in the jewelry business. In a short term, these companies can boost their business but in a long term, it will damage the hobby.