Your help is requested.

CharlieC

Hi. Need your help to be better informed. Looked at notes at a local shop.

If I am looking at a note that is graded 64 but on the back it states small
tear is this meaning the small tear (on the edge is taken into consideration
on the grade of 64). How is this different from the NET notation in the grade?

I ask as I see a 64 (with small tear is cheaper than the same type of notes)
also graded 64 with no issues noted. In this case is the 64 a grade of 64?
All are obsolete bank notes.

Thank you for your help in this.

Charlie.

DanCong

What grading company? A tear normally will impact the value of a note. The higher the grade, the greater the impact. (Unless extremely rare notes, which sell well in any condition). If it is an obsolete, 64 might indicate it was never actually circulated as money.
It might be a remainder or unissued. eBay is a reasonable source of pricing if you look at sold items. In any case , a damaged note will sell for less than an equally graded undamaged note. You maybe be able to find a remainder obsolete undamaged for about the same price. Or it could be the biggest bargain since manhatten for $24 dollars worth of beads.

delistamps

Generally you shouldn't find a tear on a 64 note. Picture or details would help!

CharlieC

Ok. Do not have a photo. It was PMG grading.

Have since looked in EBAY since posting. Found a CSA
graded 63 by PMG. This also notes minor tear. It
is EBAY # 152238510809 (tear noted, graded 63 w/tear). $395.00
EBAY # 381725238543 (sold) (graded 63, pinholes, previously mounted). $600
EBAY # 272281819211 (sold) (graded 63, no comments) $628.

Thank you for the replies.

Thank you. Charlie.

underbidder

PCGS has the apparent system. A 64 apparent would mean the note would be a 64 if not for the tears.

PMG has two systems. If they NET the note, the grade has already been lowered to account for the defect. If they just put a comment on the reverse, it is pretty much equivalent to apparent.

So 64NET is a higher grade than a 64 with a comment or a 64 apparent.

Personally, I despise the comments on the back. It is easy for unscrupulous dealers to rip off people by not mentioning the comment on the back. And it means that if I am buying an already graded note I have to remember to look for comments. It sounds trivial, but if you are buying a few hundred notes it is a PITA. If you buy stuff on eBay sometimes they don't show the reverse. In the latest Heritage sale there were comments on the reverse that were not mentioned in the auction description, which was unexpected.

CharlieC

Thank you for the additional info. To start with I was thinking
defects = a NET note. Appreciate the information.

Charlie.