Personal notes/names on PMG label...

[mintcollector]

Hello,

 

Thank you for taking the time to answer this question. Some of us collectors are finding PMG graded notes with personal collection names and or names of collections on the grading label where no proper 'pedigree' information is documented. What are PMG guidelines for putting personal names or collection names on the label? Some of these names can be misleading and are being used to 'inflate' the value of a note when in fact, there is no real reason for the increase in price...

 

I thank you for your help and answer to this important inquiry.

 

Sincerely yours,

 

Mintcollector

[CHAWK]

Mintcollector,

 

When interpreting “pedigree” it is important not to link the terminology in a way that it is linked only to more popular collections. Many collectors like to have their names tied to their collections, and we do allow this. The field that this is used for is called the pedigree field, but it is not specifically designated for highlighted collections typically referred to as “pedigrees”. Although we do not have specific guidelines on what we allow, we do not allow just anything to be put on the holder. We want collectors to feel a connection to their collections, so we do all that we can to give each collector what they want with as little confusion as possible. Also, it should be noted that although this field may add value to certain notes, it is not the primary purpose of the field. Thank you.

[mintcollector]

Hello,

 

I thank you for your response. That being said, and I prefer PMG for all my grading, this is a 'slippery slope.' While I trust your answer and how PMG acknowledges this issue, looking at other collecting fields like comic books, etc.; a 'pedigree' has always added value to a collection. This is why for someone like me who collects paper money and comic books, I can easily be confused into thinking that a bank note with a 'name' on the label is worth more than one with not. This is just an opinion, as I know a lot of research has been done on 'true' comic book pedigrees; however no research (or little) has been done on paper money pedigree collections. Herein lies the problem...

 

I personally will NOT buy a 'pedigreed' bank note at auction for this reason. I always think in the back of my mind that someone is bidding on the possible 'pedigree' (which may be non-existent) and not the note; thus increasing the price. Ironically, when bidding on CGC graded comic books, I go after the pedigree...

[GW]

i would like to see PMG post their notice/disclaimer for

Pedigrees and Special Labels on the PMG website, same as NGC.

 

for reference NGC:Important Consumer Awareness Information

http://www.ngccoin.com/about/consumer_awareness.aspx

 

Pedigrees and Special Labels

 

At the submitter's request, NGC will label a coin with the name of a collection or a

hoard. The word HOARD or COLLECTION will appear in this pedigree designation.

 

Pedigrees indicate that a particular coin belongs to a group of coins assembled by

an individual or organization. They do not describe specific attributes of the coin,

and the marketplace may not place any premium on specific pedigrees. Most

often, they relate to the origin, source, or owner of a coin. We provide this option

to allow collectors to have their names or the names of their collections to appear

on the NGC label.

 

Sometimes, pedigrees are used because of the specific labeling needs of an

individual company selling these coins. As such, it is important to fully understand

the meaning of a pedigree, as well as the seller and price of the coin.

 

SPECIAL NOTE: In the case of a few very select collections, the word

COLLECTION is omitted. These include well-known and widely publicized

collections such as Garrett, Eliasberg, Pittman, and Norweb.