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Lists => Terminology => Topic started by: friedsquid on October 26, 2009, 01:47:07 pm

Title: What does the term "NET" represent on a PMG graded note?
Post by: friedsquid on October 26, 2009, 01:47:07 pm

I was just looking at some PMG graded notes and noticed the term NET on the description beside the number grade. For example:   VF 45 NET (the word NET is actually printed vertically beside the grade designation). Can anyone tell me what this actually stands for... ???
Thanks in advance

FRIEDSQUID

Title: Re: What does the term "NET" represent on a PMG graded note?
Post by: friedsquid on October 26, 2009, 03:52:56 pm

Quote from: mmars on October 26, 2009, 03:41:54 pm

Who knows, PMG states nothing about their grading standards on their website except that they use the use the system that is most commonly accepted by other people.

I did check the website before I asked and also could not find any info on it.
Guess I will just send them an email an ask.

Title: Re: What does the term "NET" represent on a PMG graded note?
Post by: friedsquid on October 26, 2009, 03:57:09 pm

Guess I got the answer:

"A "net graded" note is one which has had an adverse occurrence after it left the BEP. PMG understands that such a note can still be rare and valuable. Instead of returning it ungraded, PMG will holder and authenticate it as a "Net Graded". PMG will specifically state the reason(s) why any note is net graded. The PMG guarantee is not valid on any net graded note. Listed here are a few examples of why a note may be "net graded": tear, corner missing, repaired, re-embossed, washed, stained, ink or writing and PVC damage.  "

Now what is BEP?  ???

Title: Re: What does the term "NET" represent on a PMG graded note?
Post by: BWJM on October 26, 2009, 04:18:58 pm

Quote from: friedsquid on October 26, 2009, 03:57:09 pm

Now what is BEP?

The United Stated Bureau of Engraving and Printing (http://www.bep.gov/). They are tasked with producing all US banknotes.