Need Help Deciding Grade
kyleslie
Posts: 22 ✭
Hey guys, I have an opportunity to own an outstanding note. It could be my biggest purchase to date, but Im trying to decide what grade it is in. Seller says AU53 and it should get EPQ
I personally think its 45 at best, but these aren't the greatest pictures. the price between the two grade is about 50% and he's asking the high one.
let me know what you think and why, thanks for your help
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I personally think its 45 at best, but these aren't the greatest pictures. the price between the two grade is about 50% and he's asking the high one.
let me know what you think and why, thanks for your help
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Comments
Step 1: unscrew the holder and carefully remove the note;
Step 2: inspect the note in-hand using a high wattage incandescent light, looking for folds, pin holes and other surface issues;
Step 3: assign your grade
Good luck - I hope it's what the seller says it is.
Hard to view from a scan, but I think I see three vertical folds (1/4 folded) plus a horizontal fold in addition to an angular fold on the right as seen in the reverse. It is a nice looking note but is not even close to being AU. Note may have been washed as folds are lighter in color. XF may be too high.
I hate those hard plastic screw type holders.
Definitely not a AU53.
Hard to view from a scan, but I think I see three vertical folds (1/4 folded) plus a horizontal fold in addition to an angular fold on the right as seen in the reverse. It is a nice looking note but is not even close to being AU. Note may have been washed as folds are lighter in color. XF may be too high.
I hate those hard plastic screw type holders.
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Retired
Even without taking it out and examining it and just using the pics you provided, it is not 53 AU. Looks like a VF range to me from your pics.
Jim61
Looking for $1 CU FRN radar 16566561 - NOT ANY MORE, THANK YOU delistamps and TheRock!
Looking for $1 CU FRN radar 16977961.
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Looking for $50 FRN 00000061
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That is one way to detect pressing
OTOH, Higher grade notes will appreciate faster than lower grades
Smell the note - is there anything that has a faint scent like scorched distilled water?
That is one way to detect pressing
OTOH, Higher grade notes will appreciate faster than lower grades
i dont have the note in hand, its in another state, I've done a lot of business with this guy, like 15k +
he's guaranteeing me 45EPQ or he'll buy it back
As someone who has had to make grade guesses from literally tens of thousands of images, I can tell you that if you can clearly see three pressed folds, that the there is a lot more you can't see.
The note looks toned and flat. It is very likely the note would grade as a 35 no PQ.
I would stay away and wait for the next graded one at auction where you aren't having to play any games.
(sorry to be so bold)
are you able to quote what he's asking for it?
(sorry to be so bold)
8k
https://currency.ha.com/itm/gold-certificates/fr-1197-50-1882-gold-certificate-pcgs-very-fine-35ppq/a/3526-17158.s?ic4=GalleryView-Thumbnail-071515
(maybe 4k tops)
prob could be had for under $6000, which nets the seller closer to $5000:
Fr 1197 on ebay
note: this is not my sale
If you are willing to pay 45PQ money for that note, I'd say go for it as long as it's PMG or PCGS as the TPG. But make sure that "PQ" is part of the deal because that note seems a tad board-like flat - - still a very nice looking note.
story is, its been in that hard display case since the 50's.... dont know if thats really the case, but everything I've gotten from this guy has been spot on so far... he's actually kinda upset that I'm not snagging it, i buy a lot from him and he passes on some good deals. 45epq could bring close to 10-12k at auction? idk.... tough decision, i wish it was just already graded
EF 40 pcgs sold 2016 for $4,465.00
a PMG 53 from Krause collection $9,200.00
but that note isn't a EF 40 at all. And being squeezed flat for 60 years will not help. The back seems whiter than the front, so it might be toned from UV.
But, buy what you like because it makes you happy, if you buy to make money, you might wind up disappointed.
If I were to buy this note, if would agree to a price based on what the note would grade by PCGS. If you know the dealer, agree to a price for what it will grade and have him send it off to PCGS to have it graded. That would remove all doubt about the note and protect you and the dealer. I would not pay what he is asking because the note is VF to XF...not AU.
Extremely Fine 40
The old standard of “three folds makes an XF” is applicable here, as typically a thrice-folded note does indeed usually grade “40”. Common sense exceptions must be made, however, as three folds that are exceptionally heavy may drop the note into a lower grade category. Notes with three folds and a couple of other minor light bends or folds may occasionally make it to the “40” grade if the extra folds are light enough and are not obtrusive to the overall appearance. A typical XF note may have a couple of pinholes, but any larger holes would prevent a note from reaching this grade.
Very Fine 35
This is a “just miss” grade, comparable to the grade “About Extremely Fine” used by some companies. It represents a note that is very close to an Extremely Fine 40 but that has one or two minor faults, such as an additional light fold or two that preclude a higher grade. A “35” should have eye appeal that is well above average for a VF note.
When I was just starting out I learned some expensive lessons by trusting dealers and buying raw notes or notes graded by CGA instead of PCGS or PMG. Then once I sent them to PCGS I found that Every single note was vastly over graded.
My advice is to stick to graded notes. You have to ask yourself why a dealer would not have a note worth that much already in a holder to maximize his profits.
have you ever bought other items from him raw and then had them graded? if so what were the results?
no, i have only bought a handful of smaller demo and less rare notes that weren't graded, nothing of this caliber... i think I'm gunna either pass unless he grades it or make him come way down on his price...
thanks for all the help guys
if he wants $8k for it, then have him support that by getting it graded... cripes, its the least he can do lol
Heed the advice of multiple experts here and if you do go forward, make sure that the XF 45 PPQ guarantee is on the invoice, and that you are OK with that grade at that price.
An XF note at AU prices?
The paper looks better than most high VFs, more like an XF but the folds, etc. will limit grade, value, and desirability. Never fall in love with a particular numismatic item, it is so easy to do. Let him send it in before you shell out a red cent. Why isn't a multi-thousand dollar note like this already certified? Smells fishy, others with cert. tracking ware could find if it has any history, or is it from "an estate" or an elderly man's collection, happens to be on consignment with said dealer who is just taking a modest commission?