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Topic: Worth Getting Graded?  (Read 9293 times)
coldironsbound
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« on: April 08, 2012, 04:04:51 am »

friedsquid
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« Reply #1 on: April 08, 2012, 07:42:41 am »

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Hi- Would it enhance the value of these notes if I had them graded? Thanks so much. ar

Personally if I were to be interested in these notes I would want to see them raw and not graded, so in this case the cost of you grading them would not enhance their values.
If your intention is to put them on Ebay, you may get lucky and have someone pay you more than their true value if they feel that they are buying a note that is honestly graded to its real condition.  Some collectors do not feel confident in grading notes themselves, so they tend to take the route of TPG notes.

Why not offer them for sale on the Trading Post when you are able and see what interest there is here...remember, if you plan to sell them on Ebay for example, after your grading costs/ebay fees/postage/paypal fees etc...how much are you really gaining at the end of the day....especially if the note is graded at a value less than what you originally believed



Always looking for #1 serial number notes in any denomination/any series
mmars
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« Reply #2 on: April 08, 2012, 10:57:05 pm »

Only the 1937 high grade $2 note could be worth it.

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coldironsbound
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« Reply #3 on: April 08, 2012, 11:06:10 pm »

Thank you. Is there some kind of calculation between what it might fetch on the open market
like ebay when most people who look at it will grade it AU (i think) or the PMG company grading
it a lot higher and BCCS which is so tight it might reduce the note to a grade lower.

It's all headache inducing. Part of me is curious to find out the 'official' grade.

How do you apply a criteria which I'm sure reduces the emotional component.

thanks so so much for your time

(Oh and how much more would this be worth, not book, with a graded note?)
friedsquid
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« Reply #4 on: April 09, 2012, 12:01:26 am »

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(Oh and how much more would this be worth, not book, with a graded note?)
Don't assume that you will get back what you paid to get your note graded...
it doesn't always work that way...



Always looking for #1 serial number notes in any denomination/any series
Mortgage Guy
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« Reply #5 on: April 09, 2012, 03:26:15 pm »

Not all grading companies’ grade equally and U.S grading companies do not have the same grading standards as we have here in Canada. Some times graded notes can sell at a slight premium but personally speaking I have seen such gross grading errors with some grading companies that some I won’t ever touch and others I will easily cut it down 2-3 grades to compensate for the grading discrepancies. By no means will a graded note guaranty a sell and for me personally would possibly discourage me from buying such notes.

Regards,
MG

Always Buying Any Replacements and Special Serial Numbered Notes In C.Unc+ Condition
walktothewater
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« Reply #6 on: April 09, 2012, 09:20:49 pm »

Re: Grading of paper money (or Third Party Grading aka TPG)

You should keep in mind that many of the contributors here are not coin collectors and typically know how to grade a note.  The whole subject of grading notes has been a bit of a hot topic since some in the hobby may have felt as if this tendency/or phenomenon has been thrust upon dealers/collectors in recent years.   Some might feel it was a trend (or phenomenon) we inherited from the hobby of coin collecting.  That may be why some paper money collectors would prefer to view, buy and sell raw notes.

I believe that many of the collectors on this forum would prefer to see a note in person before purchasing so they can grade the note for themselves (though this is not always possible).  TPG has helped to bring some assurance that a note is in fact as good as the seller claims it to be- but even that will not satisfy some. They will have to inspect the note for themselves.   

IMO: TPG is only helpful if the person is selling online & you want the buyer's confidence that you are indeed selling a higher graded note which should be somewhat rare or desirable. Unless the note is quite rare- it does not make sense to get a lower graded note TPG (though many people seem to be doing just that).  There are many "newer" collectors who are grading just about any paper that they come across- and I believe this has got to be a thorn in some of the forum contributors side! There are also many collectors who claim to know how to grade a note- and make false claims about a note's grade (which can also be a huge bone of contention- but that's grist for another thread!)

In the current "soft market" it seems a rather moot point whether to grade or not to grade (keeping in mind the costs to grade each note).  If you were to ask me- I would simply advise that all your notes can be put up for auction just as they are- raw- just don't expect much at this time.  Be sure to describe them as accurately as possible in the title of your listing to attract attention & provide clear sharp images of the notes.  If you want to get the most for your notes- then simply hang onto them- till a stronger sellers' market returns.

mmars
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« Reply #7 on: April 09, 2012, 10:56:12 pm »

The most important factor in determining the auction result is the presentation of your listing.  I was going to say the image of the note is most important, but the image is one aspect of the presentation.  Your note will sell based on how it looks.  It it looks better than the assessed grade, the selling price will be very close to the grade or higher if there are at least two bidders who are prospecting on the possibility that the note is actually better.  On the other hand, if the note looks lower grade than the stated grade, this will kill interest in your note, though you may still get lucky.  Bidders don't want to waste their time pursuing a note if they think they will be up against other bidders who will be offering more based on the higher assessed grade.  Grading companies tend to assess only technical grades that don't take into account the note's appearance.  This is usually bad because many mid-grade notes look worse than their technical grade.  A soiled VF will sell for much less than a cleaner, crisp-looking VF.  Notes in AU and higher all tend to look the same, so there's no way for the bidder to know the true grade, and with big price differences between AU, Unc, and Gem Unc, a slabbed note with an explicitly stated grade will insure you get a better result.  Raw notes in AU and higher will get much more wide-ranging results based on the faith the bidders put in your listing.

In terms of image size, bigger is not better.  There's a reason why so many sellers use smaller images with high contrasts: it makes their notes look better.  Actually, there are two reasons, the other being that a staggering number of paper money sellers are technologically incompetent and don't know how to use their cameras/scanners to achieve realistic images.

Item descriptions should be succinct.  The more you say, the greater the chances you will say something that turns off bidders.  Don't put your listing policies in your item descriptions, put them somewhere else.  For instance, put the item description at the top, then the pictures of the item, then the policies below the pictures.  Don't threaten potential bidders by saying stupid things like you expect payment in X number of days or you will file a non-paying bidder alert.  Follow the KISS rule (i.e., Keep It Simple, Stupid).  Bidders who really want to know something will send you questions, so answer them directly instead of providing every answer to every unasked question in your listing.  Don't overcharge for postage.  Buyers overcompensate for inflated shipping costs in their bids.  In fact, every dollar you overcharge in shipping can result in a $5-$10 loss on the auction result.  But don't offer free shipping either because that comes across as desperate.  Buyers expect to pay something for shipping because a seller taking money for shipping is like a guarantee that they will ship the item, whereas free shipping sounds a lot like no shipping, or slow shipping.

I offer this advice for free because I know nobody will ever use it  :D

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walktothewater
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« Reply #8 on: April 11, 2012, 05:58:01 pm »

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The most important factor in determining the auction result is the presentation of your listing.
- plus a seller's reputation.  If a seller has high number of sales (& 100% satisfaction) or a reputation amongst collectors- this is "priceless."  I recall one member on this forum who I followed for some time- but rarely won a note off him.  Almost all his high grade rare notes sold well above book- but then that was in the heady days (before 2008). 

I also know "mmars" as I have bought notes from him before & he has been very fair to buy from (has a good conservative grasp of grading a note, wishes to please, etc).   He has made some very salient points re: how 
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Raw notes in AU and higher will get much more wide-ranging results based on the faith the bidders put in your listing.
If you are new to selling notes or know of someone (with an established reputation) who sells on consignment- then you may want to list with such a reputable seller who may be able to get you "the biggest bang for your buck" (& make it easy for you).  Some "newbies" to this hobby have gone this route.

However, I'm not sure I quite agree with:
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In terms of image size, bigger is not better.
I am sure this is from mmars experience- but I have seen some online seller/dealers who sell pretty much any type of note (a lot of "filler" notes I would not give a 2nd look at) with super-sized images of their very ordinary notes and often get a higher price than I would dream of.   This is entirely a personal decision but if you can get free hosting for your notes and show higher resolution images - I would expect it to pay off.  Do not put off scanning/photographing the reverse side of your note as many collectors can get more info on the wear of a note from the reverse side. 

I agree with his remarks on KISS (Keep it Short and Simple  ::) ) to keep your listing policies separate (I've been turned off so many times by dealers who discuss freight or the several countries that they will not deal with/& such & such "historical baggage") so I would say this is excellent "free" advice.

However, I don't think "Free shipping" necessarily looks "desperate."  Yes- I agree -to charge too much is a huge turn-off.  But there is a well known East coast dealer who often provides "Free Shipping" & I am sure that his policy has ever detracted from his many successful auction/sales (the notes are rare enough and the end price high enough- that I'm sure he is confident he'll recover his shipping costs).  I have bid on many of his notes and I am sure I've helped drive up the the final bid price to make it worth his while.  In some cases (especially with higher grade/quality notes) free Express shipping is to me a huge symbol of confidence that you've got the best notes offered online & you're sure everyone knows it.  8)

Many buyers love combined shipping (on multiple listings) since shipping costs can be a real "barrier" for some & the idea that they will pay one shipping price is most appealing.  It can also lure buyers to review your other items.   Not everyone can provide free shipping (or combined shipping) - so maybe it is safe to just charge close to what it costs you (by regular mail) and offer an Xpress (secure) service on final bids over a pre-determined threshold (eg: $100).   

 

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