A PMG graded note has been found altered, is there any action to take?

[Dave939]

I just bought this note a few days ago on Ebay:

https://www.ebay.com/itm/ULTRA-RARE-1891-20-00-SILVER-CERTIFICATE-RED-SEAL-MANNING-VERY-FINE/153468203717?ssPageName=STRK%3AMEBIDX%3AIT&_trksid=p2057872.m2749.l2649

I just found that it was sold on another site a few years ago (link below) and it has been removed from the PMG holder and clearly bleached or cleaned some how. Not sure if there is a process out there to warn other collectors but thought I would ask. Does this happen often?

https://currency.ha.com/itm/silver-certificates/fr-320-20-1891-silver-certificate-pmg-very-fine-20-net/a/141708-83524.s?ic4=ListView-Thumbnail-071515#

 

[Jennifer F.]

Hello. Thanks for your message.  The two images you sent show different notes.  You can see the serial numbers are different as well as the seal.  One has a blue seal and one has a red.  If you have any other questions, please let us know.  Thanks!

[Dave939]

5 hours ago, Jennifer F. said:

Hello. Thanks for your message.  The two images you sent show different notes.  You can see the serial numbers are different as well as the seal.  One has a blue seal and one has a red.  If you have any other questions, please let us know.  Thanks!

I'm not sure what your looking at, when I open each link it clearly shows the same color seal and serial number, The Ebay link shows it as sold for $1525.00 bright colors no holder, The Heritage auction site shows it sold in 2017 Lot #83524 in PMG holder for $823.68 in rusty shape. Both same serial # E9065558

[Jennifer F.]

Hmm, the first link you included goes to this picture:

Maybe the link is incorrect.  At any rate, if the note is no longer in our holder, our grade would no longer be guaranteed.  Unfortunately, we would not have any idea how many notes might be removed from our holders and resubmitted to PCGS or if those notes have been altered.  I'm sorry we cannot be of more help in this case.  Thanks!

 

[GW]

Good job on finding that this note was removed from PMG holder and sold ungraded. 

The main reasons why I ONLY buy graded PMG notes. You take a risk when it's not professionally graded. Same for my coins. 

Thanks for posting this to warn collectors. 

 

[Dave939]

How do you get the screen shot picture?

[Dave939]

And just found another that will be sold in just over an hour on ebay out of it's PMG holder:

https://www.ebay.com/itm/Fr-727-1918-1-Large-Size-Federal-Reserve-Bank-Note-UNCIRCULATED/401759577564?ssPageName=STRK%3AMEBIDX%3AIT&_trksid=p2055359.m1431.l2649

And next link shows sold in march in the holder far less price and appears it has been brightened somehow now:

https://currency.ha.com/itm/federal-reserve-bank-notes/fr-727-1-1918-federal-reserve-bank-note-pmg-choice-extremely-fine-45/a/141911-82525.s?ic4=ListView-Thumbnail-071515

 

[Revenant]

On 5/8/2019 at 4:24 PM, Dave939 said:

How do you get the screen shot picture?

Probably just used the snipping tool app, saved it and attached it to his post.

Anyway...

Great catch as he said. Unfortunately I'm not sure there's much PMG or you can do other than maybe notify eBay (and good luck with that).

The bill isn't fake (we assume it's the real one taken from the holder). They took it out of the PMG holder and are no longer claiming it as PMG graded, or claiming the grade, or anything like that.

If you called them out on it they'd probably say it was sold to them like that and claim that they had no knowledge of it being bleached (and how would you prove them wrong?).