Can It Be There's Been Some Sort Of An Error?
Entry posted by Fenntucky Mike ·
A Feature Photo/album/album cover art work to get everyone in the Holiday mood.
I was scouring the world for Ukrainian banknotes the other day and one auction, at a major overseas auction house located in Prague, had 39 PCGS graded Ukrainian banknotes! I've come across PCGS graded Ukrainian banknotes many times, so it's not like it's unusual to see them but typically PMG graded notes out number PCGS graded notes BY A LOT! A quick search of ebay lists 217 PMG graded notes and 21 PCGS graded notes, a roughly 10:1 difference, and this spread is typical of what I normally see on a daily basis. That's why a listing of 39 PCGS graded notes is shocking to me! The group of notes is IMPRESSIVE, with five Karbowanez issues, several specimens and error notes, the error notes are worth the time just to look at. Here are a few of the more dramatic ones.
The fold errors are cool but those inverted overprints are AMAZING! I've a few error notes, including a fold error, but man those overprints are fantastic. I'm super jealous right now, one day though.
The PCGS holders look good and have more information on the labels compared to identical notes graded by PMG. I'm not planning on switching to PCGS graded notes, HELL NO, but I do have a couple that I'm planning on crossing to PMG and the new PCGS holders are an improvement over the old ones. In addition to the 39 notes I have also been seeing a ton of PCGS graded Ukrainian coins, more now than in the last five years combined, right now on ebay there are 116 Ukrainian coins graded by NGC and 63 PCGS graded coins. A much closer spread than the banknotes.
The graded notes and coins have me wondering, how big of a play (if at all) is PCGS trying to make in the world market and the banknote market in general, PMG currently has a strangle hold on graded notes in general and NGC is the king of the hill in the world/ancient coin markets. Did this auction house submit these and do they have an exclusive deal with PCGS in regards to who they send coins and notes to for grading or were these from a collection and consigned to auction by a collector? I don't know, but it's interesting to see the increase in PCGS graded items in my collecting areas and hopefully it will mean more items get shook loose and hit the auction blocks. A bunch of PCGS graded notes is actually a blessing in disguise as they typically bring less at auction than their PMG counterparts, and the Karbowanez probably will sell for below typical pricing, but the specimen and error notes will be an exception, as the holder they are in should not affect the pricing. I expect these to realize pretty good prices. Especially those overprints.
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