Rare note, before and after PMG VF25 to PCGS VF35

logger7logger7 Posts: 3,936 ✭✭✭✭✭
edited February 7, 2018 7:47AM in U.S. & World Currency Forum

I saw that this note that I had sent into PMG that graded as a VF25 had been treated and graded at PCGS as a VF35 with more problems noted: https://currency.ha.com/itm/gold-certificates/fr-1176-20-1882-gold-certificate-pcgs-apparent-very-fine-35/a/3561-22174.s?ic4=ListView-Thumbnail-071515

I bought it PMG called it "previously framed, pinholes" with the net grade.

https://i.imgur.com/ID7FCB7.jpg https://i.imgur.com/1gNxW00.jpg

In the same sale there was another note with less problems in a PMG VF25 holder: https://currency.ha.com/itm/gold-certificates/fr-1176-20-1882-gold-certificate-pmg-very-fine-25/a/3561-22175.s?ic4=ListView-Thumbnail-071515

Are collectors too "numbers bound"; ie they look at the numerical grade and do not examine the note with enough critical analysis?


  • TookybanditTookybandit Posts: 3,276 ✭✭✭
    edited February 7, 2018 9:07AM

    In most cases, the higher technical grade will reign supreme. However, with two examples that are similar grade, say F15 and VF20 and have issues/problems, the note that visually faces up better will be the one most people gravitate towards. With the two notes you referenced, I like the 35 better :)

  • mfontesmfontes Posts: 305 ✭✭✭

    I think there are a lot of collectors who trust the TPG companies and buy the note assuming the grade is correct. There are a limited number of grades for a note, but endless conditions. If a note fits somewhere in the parameters of a VF25.1 and VF25.9 then the grade of VF25 would be suited. However, as we all have come to realize not every VF25 will have the same eye appeal or paper condition. I've seen notes graded XF40 that are beautiful with excellent eye appeal and notes AU55 that should be fed through a shredder. It's no secret, but buy the note and not the holder. Also, if a note previously was graded VF25, removed, doctored, pressed, holes filled, etc., the TPG could assign a new higher grade. Not to say the note doesnt deserve it, but the TPG grades the note in the condition it is in while in their hands and not based on a previous grade. Same as a GEM 65 note removed and and folded; the new grade may be AU 58 or AU 55.

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