Note purchased at auction

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Hello,

I recently purchased a 1954 $10 BC-40b from an auction. The note was graded by a Canadian certification service as GEM UNC 65.

I received the note a few days ago but did not examine it until this morning when I noticed what I believe are 2 counting creases.  I have reviewed definition of GEM UNC in the Charlton catalogue as well as the websites of 2 Canadian grading services and none of these references seem to permit these flaws.

My grading skills leave much to be desired which is why I am asking for guidance on this site.

Would these creases normally require the note be assigned a lower grade?  Am I overreacting?

Thanks to all for any guidance you can provide.

Alain

I think most here would agree with your assessment that these flaws are not permissible on a Gem note.  However the reality is that most grading services will give a pass on counting folds depending on the severity.

The only one that I know that is really strict in that regard is BCS but they are less strict on other factors such as overall eye appeal.

In all cases it's better to see what you are buying and decide for yourself.  I've gotten great deals on CCCS notes that I could see for myself were accurately graded but I've seen many that had undisclosed defects.

Welcome to the forum!

Some 1979 multicolor low serials have similar features and Lious usually gives them choice Unc.  I guess he was being generous that day.  A US company may give this a 66 

Also, is there anything special/rare about this note?

Thanks for your responses.

No, there is nothing rare or special about this note. I was just looking for a CH UNC or Gem certified example and came across this auction.

Most of my notes are TPG with all but 2 being BCS graded. This is my first CCCS note.  I also have one PMG.

Maybe I will cut it out of its holder and send it to BCS simply to see the difference in grading.

Thanks again

Alain