1928 $10 Gold Certificate 1 1

[XarrrdaS]

Hi!

Any ideas how much it might be worth and what rating it would get on the PMG scale?

Thanks!

[Fenntucky Mike]

On 5/17/2023 at 12:16 PM, XarrrdaS said:

Hi!

Any ideas how much it might be worth and what rating it would get on the PMG scale?

Thanks!

It's really hard to say what this might grade based on those pics but I would guess in the 45 range. Best way to determine value would be to look up recent sales of these at auction, according to Paper Money of the United States it would be in the $300 range but that info is dated. 

[GoldFinger1969]

I'm not sure it would be as high as 45, Mike.  I have this note -- which looks MUCH BETTER than the grade given -- but it's only a 45.

 

[Fenntucky Mike]

On 2/29/2024 at 3:47 PM, GoldFinger1969 said:

I'm not sure it would be as high as 45, Mike.  I have this note -- which looks MUCH BETTER than the grade given -- but it's only a 45.

 

You could very well be right, and if fact probably are, with all of the soiling on the OP's note it could drop it down to around 30 depending on other condition factors. I must have been in a good mood that day. 

I will also say that your note appears to be in fabulous condition for a 45, under-graded perhaps? PMG didn't give it an EPQ designation so I'll assume that the note was pressed. Fabulous ink on the face of the note. 

[GoldFinger1969]

On 2/29/2024 at 4:07 PM, Fenntucky Mike said:

I will also say that your note appears to be in fabulous condition for a 45, under-graded perhaps? PMG didn't give it an EPQ designation so I'll assume that the note was pressed. Fabulous ink on the face of the note. 

You know, it's funny/weird, Mike.......I thought the same thing but if you angle the light the right way, the folds/creases ARE visible.  But unlike a coin where you use a light's angle to HIDE problems...here you need to use the light to SEE them !!  

I think I had a GTG on another site....and the range was from 58 to 65.  I think grading bills/currency from pics might be harder than coins.  You really need to look hard to see the "defects."

No way anybody is going to think an EF-45 coin is MS-65 coin even from bad pics....but I took multiple pics (to not hide anything) and folks STILL thought the grades were 58-65ish. 

Edited February 29 by GoldFinger1969

[Fenntucky Mike]

On 2/29/2024 at 4:13 PM, GoldFinger1969 said:

I think grading bills/currency from pics might be harder than coins.

It is, WAY harder. Side lighting is a must to properly grade a note, along with actually handling it to determine embossing, quality of paper, etc... I've done most of my buying online and have had good luck so far even though I'm not seeing the note in person. 

[GoldFinger1969]

On 2/29/2024 at 4:20 PM, Fenntucky Mike said:

It is, WAY harder. Side lighting is a must to properly grade a note, along with actually handling it to determine embossing, quality of paper, etc... I've done most of my buying online and have had good luck so far even though I'm not seeing the note in person. 

You either have to trust the seller if it's raw OR go by the actual grade and assume it is correct.  At first glance, looking at my $10 GC, I would have thought it was misgraded and was high-50's if not 60's.  It wasn't -- the folds or creases (the smaller ones ! ) were visible if you held it the right way.

What I find is that not only are the grades pretty accurate for currency (less debate than with coins)....but that the big thing that keeps bills Mint State but drops the number (and the "eye appeal") is uneven borders.  Virtually all the low-60's bills I see have uneven borders, NOT one minor fold/crease that is tough to see.  My bill is much lower-graded than an PMG-63 or 62, but it looks much better unless you are a trained pro and can see the fold defects which unlike surface items on a coin are very tough to see.  This is something I had to learn with bills vs. coins. 

Just like AU-58 coins can be nicer than low MS-60's, a bill in the 40's or 50's can be nicer-looking than a PMG low-60's unless you are angling light to see the folds which the MS bill doesn't have and the AU and lower bills do.

Edited March 1 by GoldFinger1969

[Fenntucky Mike]

On 3/1/2024 at 11:56 AM, GoldFinger1969 said:

What I find is that not only are the grades pretty accurate for currency (less debate than with coins)....but that the big thing that keeps bills Mint State but drops the number (and the "eye appeal") is uneven borders.  Virtually all the low-60's bills I see have uneven borders, NOT one minor fold/crease that is tough to see.

You'd be surprised by the bickering of assigned grades and crack outs coming back with 5 point swings, it happens with notes but I agree to a lesser extent than with coins, probably because there are fewer note collectors, or at least fewer note collectors who send pieces to TPG's. I'm not as tough on borders, I'll take a decently centered note in better condition than a perfectly centered note in lesser condition, but that's me.  

On 3/1/2024 at 11:56 AM, GoldFinger1969 said:

Just like AU-58 coins can be nicer than low MS-60's, a bill in the 40's or 50's can be nicer-looking than a PMG low-60's unless you are angling light to see the fols which the MS bill doesn't have and the AU and lower bills do.

Plenty of AU notes dripping with ink, sharp corners, good margins, and bright paper that would put a MS to shame if it was a beauty contest. 

[GoldFinger1969]

XarrrdaS, did you ever submit the note or bring it to a dealer to gauge the grade ?

[GoldFinger1969]

XarrrdaS, a $10 GC similar to your with a grade of VF30 PPQ was sold tonight on GC for $245 (ex bp).

https://www.greatcollections.com/Coin/1539995/Fr-2400-AA-Block-1928-10-Gold-Certificate-Note-Woods-Mellon-PCGS-Currency-Very-Fine-30-PPQ

Similar color....comparable borders....could be a bit "dirtier" than your bill so maybe yours is a 35.  Mike's estimate of $300 was in the ballpark.