What does "Previously Mounted, Annotation" mean?

[kingmidas-migration]

I am looking at purchasing a note that is graded 64 Net. It then says Previously Mounted, Annotation. What does that mean? When a note has a Net value after the grade, does it affect the value of the note?

[Jennifer F.]

Thank you for your post. The term "previously mounted" means the note was previously mounted to something (card stock, album, etc.). The term "annotation" means a note of explanation or comment that has been added.

 

A “Net” graded note is one which has had an adverse occurrence after it was printed. PMG will specifically state the reason(s) why any note is “Net” graded. A few typical examples of why a note may be “Net” graded are tear, corner missing, repaired, washed, stained, ink or writing, and PVC damage. Only the Genuineness Guarantee portion of the PMG Guarantee applies to Notes given a “Net” grade by PMG.

 

If you have any other questions, you can contact customer service at 941-309-1001 or by e-mail at service@pmgnotes.com.

 

Thank you.

[kingmidas-migration]

I am fairly new to collecting currency. I try to purchase only notes that are third party graded because it takes the subjective opinion element out of the transaction. I can't get a straight answer on whether i should stay away from notes that have a "Net" connotation added to them. Does it change their value? If the note is graded a 64 Net, does that drop to value to a 63 or even a 60?

[kingmidas-migration]

Hi Jennifer,

 

I will try to make this easy on you this time. Does a note that has a "Net" grading still show up in the population report?

[Nutmeg Coin]

No. Net graded notes like net graded coins do not get counted in the census.

 

Sometimes the problem is too great for them to give the note a clean grade, too many pinholes, previously mounted, a tear or split, I have seen notes not get a "net" for those issues. It depends on the extent of the issue and whether the graders think it is bad enough.

 

Here is an example of a Fr.1176:

 

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=261309894847&ssPageName=STRK:MESE:IT

 

The consensus was with the show dealers that it had a faded obverse due to where it had been, perhaps it had been exposed to too much sunlight at one point.