US note grading

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Raising my glass in full agreement.

Troy

Don, bring it up at the CAND annual meeting. We would be pleased if you wished to run a grading seminar in January.

Rick

This doesn't make any sense:

Superb Crisp Uncirculated-67: A nearly flawless note with perfect centering. Full wide margins all around. Colors are totally bright, crisp and vibrant. Quality is outstanding.

Gem Uncirculated (Gem Unc) (UNC-65)
A note that is flawless...

So UNC-67 is NEARLY FLAWLESS while UNC-65 is FLAWLESS.  

The UNC 67 is being used by some dealers in the USA, and is not part of the Friedberg model as presented in their texts. The Friedberg perfect note is UNC 65 as stated my post above.

UNC 67 is instead part of the system used by the company (and a few others) from which Rick presented us with a note from.

Comparing a grade presented by some dealers/graders in the USA and the Friedberg model doesn't work.

I do however agree that anyone brave enough to slap UNC 67 on a note had better start with "a flawless note".

I like the Friedberg model and none other better at present. Adopting such a system will create significant change in the way UNC notes are valued in Canada. It is one thing to say a note is UNC, Choice UNC or Gem UNC, it is another thing for the pricing panel to price a GEM 65 at 2 or more times than an UNC 60 as they do in the USA.

Glad to see we are no longer laughing threads like this off the forum as I have seen in the past.

The light being cast on this issue and the other issue in the pricing panel thread appear to now have the markets full attention.

It is a smarter, more informed market these days and growing up fast; leadership will carry increased challenges.

Troy.

I like that grading better than this grading standard.
http://www.canadiancurrencygradingservice.com/standards.htm

Tom

Don't even get me started on this system

The collector would be educated both as to grading and the fact that there is and will be some judgment and subjectivity to it. Always and forever - BUYER BEWARE ! We can help a lot with grading education though - that could be THE most important step.
Don

Don ,
The collector has to want to be educated first. This has been the problem in both coins and paper forever.
People see what they want to see and others are more than willing to show them what they want to see. It seems to be a vicious circle.

Lets us say that CAND sponsors a grading seminar on paper money. (and we can afford it)
Couple of questions. Whose standards for grading should we use?
Who is qualified to teach such a course?.

I appreciate this is hypotetical.

Who are these great graders and instructors. If you were to hire someone to do some grading stuff, who would it be?

Rick

I would like to see Don do it and represent the Canadian tradition with a guest expert speaker from the USA who has had years as a professional grader of deciding between UNC 60 to UNC 65 notes.

Not Mel as the guest, that's too easy and predictable.

I could put forward a few ideas if you like on the USA person to invite once I was convinced the will existed to do this comprehensively. New blood is needed to freshen up the approach.

Troy

While I agree new blood may be required to liven things up, the new blood will have to be from within Canada. We are if nothing else, resistant to change (see comments about CCGS grading standards) . Bringing in an expert grader of  US bank notes to discuss the grading of Canadian notes will be dismissed.

It is my opinion that the conclusion of the last post is False if such an expert were invited for discussion as a guest speaker. The market is opening its mind, becoming more international, and ready for the next steps.

Those who serve at the pleasure of the market and are in tune with its pulse and beating heart knows and lives this daily. The focus of the guest speaker would be a summary of how the USA market has grown and the adoption and market acceptance of a multi-level UNC system. Someone could also speak about the migration of US based collectors moving into CDN currency via the Internet.  I could speak to this and (with sufficient notice) provide warm bodied 4-5 figure a month (spent on their CDN collections) examples under the protection of a non solicitation agreement.

If you wish to hold a seminar let me know how many you would like at the seminar Rick and I will ensure that some of the heavyweight online buyers both CDN and American based attend. I can bring such an event a lot of instant exposure if I have about 1 months notice. I will be offering to pay the cost of the seminar for my entire active client base if the cost is reasonable.

Adding an international approach will be received extremely well and the Canadian tradition would be in very good hands with Don.

I would highly recommend combining the overall theme of how to grade/accurate grading with an alliance of the top dealers in Canada who will simultaneously introduce a 3 level of UNC system. All dealers who subscribe to it need not attend but rather they need to sign off on it. I would reciprocate by delaying any plans I have to further introduce such a system to the market.

The panel should then endorse the movement as it will be expected to make its way into the 19th edition price guide, if there isn't time to address this before the new Chartered guide is compiled the market would understand.

Troy