What Am I Missing

PROMETHIUS88

I know it can be difficult to tell from a pic, but being a novice at currency, what am I missing here? Really thought it was a gem.

If these images aren't big enough, can try the images online -

https://www.pmgnotes.com/certlookup/2373634-002/58/

golden

Probably a light center fold.

TxCollector

The off centering would probably cap this at a 64 choice uncirculated even without a fold IMO.

Steve_in_Tampa

Personally speaking, an AU note coupled with exceptional paper quality is the best grade when it comes to “bang-for-your-buck”. They’re usually considerably cheaper than an UNC note, and sometimes you can’t even tell the difference.

TennisCoach

Nothing definite, but I do see a couple minor things. Back side bottom left margin, there appears to be a small handling bend in the margin. Front side, there is a line mark starting from 8 o'clock on the district seal. It goes downward and to the left. It doesn't look like a fold line, just something out of the ordinary. Otherwise it looks like a 64Q note to me.

PROMETHIUS88

@TennisCoach said:
Nothing definite, but I do see a couple minor things. Back side bottom left margin, there appears to be a small handling bend in the margin. Front side, there is a line mark starting from 8 o'clock on the district seal. It goes downward and to the left. It doesn't look like a fold line, just something out of the ordinary. Otherwise it looks like a 64Q note to me.

Yes, I saw that in the scan as well. It's not a fold or a bend. I had looked at it in really good light with a 16x loupe but looking at it again in lower light, it appears to be an imperfection in the paper itself. It's like a a tiny "valley" and the ink on the L is actually stamped over it.
I wouldn't consider it handling or that it was a circulated note based on that but I can see where they could take issue with it.

Great learning experience. It wasn't a note I was going to throw back in my PC and I got it at a decent price raw. With only 2 graded higher, hopefully it finds a home in someone's collection!

Thanks all for the replies!

TennisCoach

Another interesting aspect to grading is "as made" wrinkles. Not saying that's what happened here, but it's interesting how sometimes the note remains Gem/ChCU with an as made wrinkle, and other times its graded as AU. It kind of depends on who's grading it.

Serial_no_8

I know it can be difficult to tell from a pic, but being a novice at currency, what am I missing here? Really thought it was a gem.

-I would need a loupe & a light box with your note in hand to comment fairly. That's what they use.

I submitted 2 bulk lots (100 notes) here in Canada & got all sorts of 58, 50 & 55's which I thought were choice 64's or better. I even submitted polymer personally handpicked from unmolested bundles/stacks which received some stupid # (60, 62 & 63's). I mean who gives UNC 60's & 62's? Some of the 63's were not cockeyed (like you'd expect) & many of my 62's were at least 64 in PMG's book.

I got 1 or 2 GEM 65's for each 50 submitted. Anyway, I've just learned that our guy will have some good (generous) days & somedays he's just going to be all over the note for the slightest, minute traces of handling. He's very conservative & I'm pretty sure his 65's are PMG's 67's. I try not to get overly worked up about the #'s even though its disappointing (& I often will go for this guys lower grades knowing he's super conservative).

...and other times its graded as AU. It kind of depends on who's grading it

-It is very subjective & that's the bottom line. Your pre-1950 note got the EPQ so you know the paper is original & that's significant considering the # of notes that were washed/pressed from that era. It has loads of eye-appeal too.