mike169

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Posts posted by mike169

  1. As for being able to 'rescue' these items. I don't know why anyone would want to pay this dealer to buy his notes, then try to 'rescue' them, if that is what you mean. They are his property, it is up to him to care for them. Just don't expect me to buy them. I have been known to ask dealers how they store their notes and what precautions they take before I agree to buy them. I never buy notes from a dealer that states something like 'oh that item has been on display for years.' That is a red flag for me. This is just my opinion, I hope it helps answer your questions.

     

    Sincerely,

     

    mintcollector

     

    My question was basically to ask if there is hidden damage that sometimes does not appear after a while, even if you move the notes back to a more stable environment. For example, if you had bought the notes, and at the time they were/appeared to be undamaged, could they become damaged later?

  2. I thank all those who responded to this question, as well as PMG (as this question was asked in the 'Ask PMG' section as well). It does amaze me that in all areas of collecting (and I collect CGC comic books, NGC graded coins, and more) that some collectors spend a lot of time and money putting together a very expensive and high grade collection, but spend little time and money trying to protect, properly store, and preserve it. That is why I asked this question. I just needed some advice, aas I don't want to end up like one of those collectors. Here is a prime example of a dealer that in my opinion needs to have his head examined:

     

    At a local antique market I frequent, an older gentleman has a stand selling all forms of coins, currency, fire arms, and tobacco cards. He even has some cool antique advertising items worth a small fortune. Unfortunately, the place where he has his stand is at an antique market that is not PROPERLY heated and cooled (though it is inside). It is open all year round, but in the summer months it gets ultra hot and in the winter you have to wear a coat as you can see your own breath (I live in Pennsylvania, where this is located).

     

    He has a lot of GREAT high grade PMG and PCGS currency that I would gladly buy, except for the horrid storage conditions! He keeps them directly under a light and in a case all year round subjected to these conditions. I once asked him if he ever bothers to move the items to a better location and he said 'what for, they are already graded and protected.'

     

    The point of this story is that some collectors seem to believe that since their items are already graded they can do whatever they want to them with no consequence. This is NOT the case and far from the truth. I would LOVE to buy from this guy (as his prices are fair), but I won't touch a note that I know has been put through these kind of conditions. Any thoughts? I would love to hear them. I truly believe that how we store and care for these items is just as important as the grade they receive from PMG or PCGS! Thank you for reading!

     

     

    Now, I have a question. Is there a problem with these notes, other than you know he puts them in adverse environments? I mean, if you didn't know this, is there something to say that the notes have been damaged already, or can be damaged in the future if you do purchase them?

     

     

    I am assuming you are talking to me, correct? I will gladly do my best to answer, and I hope this helps. I would prefer you to be more specific, but I think I understand what you are asking, so here it goes!

     

    To answer your question:

     

    Number one: Severe heat and humidity are extremely dangerous to all notes, graded or not, as is direct light. The dealer in question exposes these notes to all three elements listed above. Note that PCGS graded notes use a holder that is NOT heat sealed like the PMG holder, as PCGS claims that notes need to breathe (I do not know the truth to that statement I am ONLY reporting on what they claim on their own website).

     

    Second of all, and I don't know if you know this about me, but any note I purchase graded, I send in to be reholdered by the two third part grading companies I use (PMG and PCGS). I do PREFER notes graded by PMG, it is no secret there. I do this to get a NEW scratch free holder and to symbolize that it is ready to be placed in my collection (consider it a way to keep track of what I am buying).

     

    Third, any note can be damaged in a holder (i.e. note the three elements listed above). The truth of the matter is, when you buy from a trusted dealer, you have less a chance of this happening to. I don't worry about my notes in my safe deposit box, as much as I worry about my notes in transit (whether being in the mail or in transit to and from the safe deposit box).

     

    Did I answer your question? If not, I will do my best to help clarify anything else you are asking.

     

     

    Thanks for your reply and the information. I agree that adverse elements are dangerous to all notes. From your original post, it appears that the notes were in good condition (i.e. there is no mention of damage), other than the fact that he stored them in adverse enviornments? So, my questions are (1) were the notes damaged already, or (2) even if you "rescued" the notes, could it be possible that they still could be damaged at a future time because of the previous adverse environment?

     

    Thanks

  3. I thank all those who responded to this question, as well as PMG (as this question was asked in the 'Ask PMG' section as well). It does amaze me that in all areas of collecting (and I collect CGC comic books, NGC graded coins, and more) that some collectors spend a lot of time and money putting together a very expensive and high grade collection, but spend little time and money trying to protect, properly store, and preserve it. That is why I asked this question. I just needed some advice, aas I don't want to end up like one of those collectors. Here is a prime example of a dealer that in my opinion needs to have his head examined:

     

    At a local antique market I frequent, an older gentleman has a stand selling all forms of coins, currency, fire arms, and tobacco cards. He even has some cool antique advertising items worth a small fortune. Unfortunately, the place where he has his stand is at an antique market that is not PROPERLY heated and cooled (though it is inside). It is open all year round, but in the summer months it gets ultra hot and in the winter you have to wear a coat as you can see your own breath (I live in Pennsylvania, where this is located).

     

    He has a lot of GREAT high grade PMG and PCGS currency that I would gladly buy, except for the horrid storage conditions! He keeps them directly under a light and in a case all year round subjected to these conditions. I once asked him if he ever bothers to move the items to a better location and he said 'what for, they are already graded and protected.'

     

    The point of this story is that some collectors seem to believe that since their items are already graded they can do whatever they want to them with no consequence. This is NOT the case and far from the truth. I would LOVE to buy from this guy (as his prices are fair), but I won't touch a note that I know has been put through these kind of conditions. Any thoughts? I would love to hear them. I truly believe that how we store and care for these items is just as important as the grade they receive from PMG or PCGS! Thank you for reading!

     

     

    Now, I have a question. Is there a problem with these notes, other than you know he puts them in adverse environments? I mean, if you didn't know this, is there something to say that the notes have been damaged already, or can be damaged in the future if you do purchase them?