Another TPG Question: CGA

[Scott B]

I have another opportunity to purchase a note that was graded by Currency Grading and Authentication. This note I think is under graded but I wanted to find out if anyone knows anything about them.

 

For the record, I am not a regular currency collector. I've started collecting Maryland Colonial Currency and considering branching out. For now, any non-PMG or PCGS currency I buy will be sent to PMG for regrading.

 

Any info is appreciated!

 

Scott

 

[mintcollector]

I own only notes graded by PMG and PCGS. Therefore, I can't fully answer your question.

 

If you want to learn about the company you mention, you can do one of two things;

 

Either 'google' the company to learn more, or buy the note and see how they grade. If you like their grading and are happy with the note, that is all that matters.

 

I do not know if their notes get the same prices that comparable PMG and PCGS notes get? I have never done research on this...

 

Hope my answer helps...

 

[123cents]

They were the 1st paper grading service but are recently under new management.

They would probably rank 3rd behind PMG and PCGS.

[JIM F.]

CGA is frowned upon by many (most?) paper money collectors. Here's a link to consider:

 

http://www.ripoffreport.com/bait-and-switch/cga-jess-lipka-curre/cga-jess-lipka-currency-grad-5f655.htm

 

Many have been victimized by processed/overgraded CGA items. Here's my overgraded CGA note, now residing in a PMG holder.

 

 

I will never purchase a CGA graded item, period.

 

 

[Scott B]

I am learning that when dealing with colonial currency, grades tend to lean lower anyway. We are talking about notes over 230 years old that were never intended to be saved or collected.

 

The image I was given showed dark printing and a low grade (08). But after examining the image carefully, there was a repaired tear not noted on the label. I could not tell if it was period repair or not. I have seen repairs to colonial notes that were made years later (19th century) that the grading services have caught. So I passed on this note.

 

While disappointed, I know a similar note will come for sale soon.

 

And jimbucks... that is my favorite note of that era!

 

Scott

[johnny9434]

big difference on grade there jimbucks. still a nice note thou

[JIM F.]

More context. I bought this note raw in the 1990's on Ebay (advertised as an AU), and it came from Russia! Submitted it to CGA when they were the only paper money grader and was pleasantly surprised at the -63 grade. Later the CGA scandal pretty much made all CGA notes "poison" and "unacceptable". Submission to PMG resulted in a HUGE grade drop.

 

Hope this is educational for those even considering CGA notes.....DO NOT BUY THEM!

[Steve in Tampa]

Everyone is entitled to their opinion.

Many notes in PMG holders do not cross exactly to PCGS and vise versa.

As grading was, is, and always will be a matter of opinion. Grading and evaluation is an art and not a science. It's the same in other venues like buying or selling a car, a house, rating a stock or bond, or even wine. Buy the note, not the holder.

[mintcollector]

More context. I bought this note raw in the 1990's on Ebay (advertised as an AU), and it came from Russia! Submitted it to CGA when they were the only paper money grader and was pleasantly surprised at the -63 grade. Later the CGA scandal pretty much made all CGA notes "poison" and "unacceptable". Submission to PMG resulted in a HUGE grade drop.

 

Hope this is educational for those even considering CGA notes.....DO NOT BUY THEM!

 

If I experienced this I would feel the same way. Personally, I prefer PMG notes, but also do collect and buy PCGS notes.

 

I do not partake in any of the registries, as I collect in private (and value my privacy for my matter), so cross overs are not something I am concerned with either...

[coins92-migration]

As an owner of both PMG and CGA notes, i'll chime in.

 

Like someone mentioned in a previous post, CGA is under new ownership, and is on the up and coming.

 

The previous owner was the one "convicted" of overgrading.

 

Sometime in 2009, I believe April, ownership changed hands.

 

If you do not know, notes that were graded under the new owner have a star on the back.

 

I've bought a bunch of CGA notes, in the new star holder, that have crossed to PMG.

 

It really looks like the new ownership stepped in here and has the company heading in the right direction.

 

For anyone who doesn't know what the new holder looks like:

 

 

CGA is frowned upon by many (most?) paper money collectors. Here's a link to consider:

 

http://www.ripoffreport.com/bait-and-switch/cga-jess-lipka-curre/cga-jess-lipka-currency-grad-5f655.htm

 

Many have been victimized by processed/overgraded CGA items. Here's my overgraded CGA note, now residing in a PMG holder.

 

 

I will never purchase a CGA graded item, period.

 

[GW]

Thanks. I had no idea why they had the star.

http://www.cganotes.com/faq.php#

[123cents]

Thanks for the good info lipride.