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Posts posted by lettow

  1. This also underscores one of the significant differences in philosophy between PMG and PCGS. PMG net grades for defects such as graffiti, foreign substances, etc. which means they reduce the overall numerical grade to account for these. PCGS does not lower the numerical grade but notes them as apparent.


    Here is the hypothetical. The last two notes in a fresh pack. The higher number has a foreign substance and the other doesn't because the higher number is on the outside and picked up glue or whatever from being set down. But the paper for both is otherwise a 66. PMG will grade the one without the substance as 66 EPQ and the other as Net 64 (or whatever their standard determines the downgrade should be) without PPQ. PCGS would grade one 66 PPQ and the other Apparent 66 with no PPQ.


    Neither of these is wrong and both philosophies have their merits . It is simply the application of each company's standards. PCGS refers to PMG's method as market grading; that is, giving a lower number because the one with the defect should bring less money. But PCGS method has led to some otherwise absurd grades such as a note with one quarter of it missing being graded in the high 60s because they only grade the paper that is there.

  2. These were issued in Greece by the German army. They are listed under Greece in the Pick catalog. They should have the two handstamps you identify.


    A word of caution, however. The notes with the Greek handstamps were considered scarce and brought much more money than those without. Examples with faked handstamps have entered the marketplace.

  3. lettow, thanks for the information. I've sort of held off sending the $20 and $10 sheets for grading because I simply wasn't sure what was the better course of action. I certainly decided NOT to cut the individual notes from the sheets at any rate. Appreciate your insights. :)


    They do not appear to sell for much over face if Ebay is any indication. May not be worth the grading fee.

  4. Well, don't know about fractionals but I talked with PCGS about my four note sheet of $20 and $10 Star and they said $35 each. I'm going to be sending next week so we shall see,


    I think that you should rethink sending these notes in to be graded for the following reasons. Your notes were cut from a 16 note or 32 note sheet produced for sale to the public only and not for general circulation and therefore is not an actual circulation "sheet"(all these sheets were star notes). The cost of grading these notes in my opinion would greatly exceed the value of the notes themselves. AS I stated these sheets started to be printed in the 1970's and were so inexpensive ( not much above face value) that paper dealers and collectors (myself included) would take a whole sheet or a 16 note sheet and cut bills from the sheet to pay the tab at restaurants and bars, which would really spook the servers who on occasion called the cops (which I was one at the time) thinking the bills were counterfeit. If you still wish to send them in good luck. The graders may consider these post printed damaged sheets, and charge you just to no grade them.


    These are not "post printed damaged sheets". The BEP sold these as four subject sheets. While they started out life as part of a larger sheet, the BEP cut them down to the four subject sheet before selling them. Examples have been graded by PCGS.

  5. It will be difficult to reach any conclusions if you are going to track world notes. Every area has its own market and own market forces. It will also depend on what catalog you are using for pricing. Quite frankly, the Pick catalog is fairly useless for pricing for many countries including Germany, China and India (just to name a few) unless you use it for relative comparisons.


    The only place outside the US that I have seen TPG notes getting any premium over non-TPG is China and Hong Kong. I believe that this is due to the large number of fake notes in the marketplace.

  6. I don't think you can give a response to a generic question like this. It will depend on the note, how many exist and the collector demand.


    The Costa Rican note posted is a perfect example. There are hundreds of ungraded UNC examples in the marketplace. Why anyone would pay a premium for a graded example is beyond me.

  7. From left to right:


    1930 Central Bank 5 cgu P-326d catalogs at $.30/VG 1.00/VF

    1941 Central Bank 100 yuan P-243a catalogs at $.50/VF 3.00/UNC

    Japan 1946 10 yen P-87a catalogs at $1.25/VF 4.00/UNC

    Japan 1958 100 yen P-90c catalogs at FV in lower grades and $2.00/UNC

  8. I also noticed the corner impressions made by the holder in the folder and will remove it and place it between two heavy books and see if the corners smooth out.


    It appears that PMG is the only currency TPG left after PCGS bowing out? I noticed on the PMG submission guidelines you need a minimum of five notes for submission?


    I have other BEP products but I don't think they have enough of a premium to warrant grading.


    If you have removed all of yours from the set, did you keep the original BEP folders, etc?


    Thanks again, Steve, for the info.




    PCGS still TPG's paper money. It is no longer part of the Collectors Universe family but they still TPG paper money.

  9. High denomination US bonds are a tough sell to collectors because of the amount that has to be put into them to exceed face value. The number of collectors is fairly small and the number of collectors with the kind of money available to sink $5,000.00+ into an item like this is even smaller.


    Your best bet is to consign to either Heritage or Archives International. Both of these auction houses have experience with selling US bonds.