Third Party Grading Standards

News: Registration is free here at the CPMF!

Folks,

I've been to my local dealer several times over the course of the last month or two.  Whenever I buy graded notes, I generally stick to UNC60 or higher from BCS only.  Friends have bought CCCS notes that were graded.  Their standards are likely fine, but I dislike the thin sleeves that they are held in.  I generally don't like flimsy cases in general.

I also don't own any PMG notes.  They are probably fine to buy.  But, I've heard of notes being graded EF45 by BCS, and people cutting them out, sending them to get graded by PMG and getting AU 55 or higher.  Which makes me trust BCS as a high standard in grading.  But, a guy at my loval deal tells me they aren't all that.

If I were into American, or foreign notes, PMG may be more of a goto.  But for Canadian notes, I think I prefer BCS as they are Canadian.  I hear that BCS is attached to Colonial Acres. 

In any event.  I generally don't get my own notes graded.  For fear that they would come back undergraded.  Also, it costs too much.  Takes too much time, and I don't have things that rare that I feel they need to be graded.  But, I do buy notes that are already graded.  And I prefer BCS.

Any thoughts on these things?

You are correct in your assessment of BCS.   They are great for buyers, not for sellers.  I have seen numerous PMG 50-58 notes that would be BCS 45's.....I have just sold a PMG 66 note because my BCS 60 note of the same was nicer.  I't's a bit of a luxury when you can compare the notes side by side.  I also have personal knowledge of 3 BCS notes graded UNC 60, UNC 60, CH UNC 63 turn into PMG GEM 65, 65 and GEM 66......the PMG 66 was originally a BCS 60....and to think that I couldn't find any buyers for them in BCS holders.

CCCS sleeve have been ticker now for over 6 months!

The main thing to always remember when purchasing notes that are third party graded, is that you are to buy the note inside the sleeve and NOT the sleeve that its been sealed into with grading. If you see a graded note at UNC60 and there is a fold down the middle of the note, it is NOT UNC60. All third party grading companies can make a mistake no matter how good they are.

 I have noticed as well that notes graded by an American grading company are to a different standard than the Canadian companies.

 I have had notes from 4 grading companies and the only one I have removed from the sleeve was the note graded from CCCS, as stated above I also didn't like the flimsy grading sleeve it was in. (sorry CCCS). I have some from the grading companies that I question the grade, either up or down with each of them.

 What I understand with the American grading companies, is yes they usually grade higher but it also costs more to have them done. For a more collectable note when the price jumps quite a lot for a grade increase it might be worth the trouble.

 I personally use BCS for third party grading, S. Bell is usually right on for what I have personally graded my notes.