Assigning a value to the number

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I recently had a bunch of notes graded by Steve Bell of BCS - located in Kitchener Ontario. I had 22 notes graded and almost all came back with grades of choice 62, choice 63, choice 64, gem 65, and gem 66. My understanding is that the Charlton catalogue uses the numbers unc 60, choice 63 and gem 65 for determining values.

My questions are as follows:

What, if any, premium should be paid for buying notes with a choice 64 or gem 66 designation?

Should notes with a choice unc 62 be bought at a discount?

Now I know that the catalogue is only a guide and prices shouldn't be determined on it's contents alone. I am just looking for others opinions.

Scott

How BCS' grades compare to the grades in the catalogue and the grades of other TPGs will be determined as time progresses and as BCS' notes become more prevalent.

I think it is fair to say that PMG notes ought to trade at a discount, although you'd be hard pressed to find a dealer who would even contemplate that atrocity. IMHO, BCS notes ought to trade at a premium, but how much is hard to say.

Thanks for bringing up your issues with the PMG grading.

Luckily I am just getting back into note collecting again after a long break.

After doing some searches I see there is not a lot of "love" for PMG notes and I am glad I didn't pick any up except one and it was only $10 for a VF 1937 $1 note.  (Was cheap.. couldn't resist).

After readinf a lot about the PMG Grading I recently checked a lot of auctions with PMG notes.  I was surprised myself with a lot of the grades that were put on notes.  (Overgraded IMO)

Thanks for bringing your concerns with PMG and bringing BCS's new service to light.

I am looking forward to sending in some notes and getting them back.

Cheers...

Should notes with a choice unc 62 be bought at a discount?

Only if I am buying them from YOU
 

I don't think PMG-graded, PCGS-graded, BCS-graded, CCGS-graded or any note should be discounted or increased in value as a rule of thumb.
As with any collectible, only a close examination should determine the buyer's value of any item. Any TPG note from any service can be under- or over-graded.
Although it's difficult to see through the holders at times, each note must stand on its own.
I am not defending any or all or denigrating any or all grading services. I have examined PMG notes that certainly support PMG's high grades and I have seen CCGS-graded notes whose assigned low grade I did not agree with.
What I am saying is that you simply must look before you buy. It's folly for anyone to put total faith in another's opinion if you're considering a purchase.

But Alvin, don't you agree that many times a TPG has a better chance of giving an unbiased grade than the seller? I'm not sure that widespread
harping on the fact that TPGs can get it wrong  is good for the hobby.
Sure it's buyer beware, but we don't want to scare potential newcomers into thinking they have to watch out for TPGs too. If that's all we preach then it builds mistrust in the whole thing. I would say that more raw notes are raw deals than TPG'd notes. Everybody is so quick to post or show off the miss-graded coin or note when 100 properly graded go unmentioned. Reminds me of a dealer that always tells the negative side of the  story regarding everything, kind of amti-promotion and really a detriment.

I'm not sure that widespread
harping on the fact that TPGs can get it wrong  is good for the hobby.

I have to agree with this....whether  it is a TPG note or a raw note; it is up to the buyer as to whether or not it is the note they want...and then determines what they are willing to pay for it.  The bottom line is that everyone (including me) makes mistakes and that always trying to pin something on the other guy will not always work.  The best thing has always been ....do your research, then bargain for the best price you can get....and buy it if you like it.. and sometimes ...realize that you will get screwed no mattter what you do   and that's LIFE

I'm not sure that widespread
harping on the fact that TPGs can get it wrong  is good for the hobby.

IMO, this harping IS good for the hobbyist who is new to the game, but bad for the dealers who exploit.