The Shiek

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Ungraded notes in my crosshairs

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Sheik Sheck

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Ungraded notes are sucking your wallet

Ungraded notes steal from your pocket. Why would a rare gold certificate from 1882 be ungraded? They are so rare, just about every dealer has seen every one of these notes. I see it all the time, dealers saying, "oh I sold this same note five years ago" The notes are ungraded because experts know they will grade NET. They are able to spot the tiniest flaw that even if an average collector had the note in his hand, he would not be able to tell it was "retouched" or "Repaired" Ebay doesn't provide a forum to air this out because guess what? Ebay profits off our stupidity! They don't want the big secret out that ungraded notes are for suckers. Once again, if you are buying a $100 star note from 1999 for $250 and the seller says "Superb Gem Uncirculated", it's probably OK. But on notes that are worth more than $500, you don't think those notes have been scrutinized again and again? An expert saying, "I can see a tiny tear that was repaired" Those words cut the value in half. So why not, recolor the note to make the image brighter and mask the flaws, sell it on ebay with no reserve as "GEM UNCIRCULATED" and know the buyer will not have it graded. Or by the time you have it graded, you have left feedback and it's too late to let everyone know the seller sold you a 30 NET. I wait until the notes are back from PMG before leaving feedback. One seller said of my negative feedback, "Well out of 5,000 notes sold, one negative review isn't bad!" No Mr. Seller, actually I had bought several notes from you ungraded, ALL came back less that what you advertised and I had simply left the feedback too early. The final ungraded note I bought, I waited until it got back from PMG praying that the seller was correct and it was "SUPERB GEM UNCIRCULATED" instead....35 NET, closed pinholes. I didn't even notice the closed pinholes until I got the note back!! DON'T BUY UNGRADED NOTES!!

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