PMG grading! or Getting sumpthin started!

[BankNote1]

I thought this post was interesting over on the CU boards! About PMG grading of fracts.!

Thoughts on PMG's Grading of Fractionals!

[cointagious]

I am saddened by the grades being assigned.

 

Notes with folds thru the design are not cu. Pressing can make it a cu note again?!?!?!?!?!?!

 

Notes with pinholes are gems? Geez.

 

Maybe there is some bizarre marketing plan behind this rationalization of grading.

 

In the end, I'm only going to pay what I believe the note's true market value is. Unfortunately, the market, as it is, may pass me by for the time being.

[Architecht]

There's an interesting parallel here to lessons learned in comics grading. CGC did/does some things with separate label colors to differentiate a restored book from a "universal" or normal grade. This has come to be referred to as a PLOD (purple label of death). The reason is that the variety of things that can be done to a book to merit a purple label tends to bring down the value of some books because it's now grouped with the more heinous examples of mistreatment.

 

So for instance, a small amount of color touch to restore a book which is otherwise already in great condition ends up earning a purple label, thus grouping that book with other books that perhaps have had tape repairs, heavy color touching, and staples replaced. It creates some dissatisfaction in the market as it hurts the value of some books.

 

Perhaps the PMG approach of noting the defect while still assigning an "other than this issue" grade takes into account some of these lessons.

 

CGC also has what's called a "qualified" label. i.e. This would be the grade except for this issue (for example a pin hole). .

 

As the web guy (DISCLAIMER: NOT EDUCATED AT ALL ON PAPER MONEY, GRADING ETC. AND NOT TRYING TO SOUND LIKE I AM) it's interesting to see the parallels. How meaningful those analogies are, I don't know.

 

http://www.cgccomics.com/grading/

[gmarguli]

I'll admit to knowing very little about paper money, so please correct me if I am wrong. As I understand it, the paper money grading services basically copied the coin grading scale of 1-70. This detailed number scale never existed in this form in the paper money arena.

 

If that is correct, then people complaining that a Gem 65 shouldn't have this or that problem, they have no real basis for saying this as it is a new grading scale. Perhaps what they are considering a "Gem" note should look like is now what the grading services would call a 67? Same with coins when they were first being slabbed.

[BankNote1]

It looks to me that the grading services are easier on grading than the collectors have been. What used to be called just CU or Ch CU is now a Gem!?! I am sure the dealers are laughing all the way to the bank!

If a pressed out note can be CU then there is something just wrong with the "new" grading standards, IMO.

[cointagious]

If a pressed out note can be CU then there is something just wrong with the "new" grading standards, IMO.

 

 

 

It's a shared opinion, Monty. It's downright scary.

 

The greensheet has now equated CH CU with MS63 etc. so there doesn't appear to be a misunderstanding in the marketplace re the intent of the slabbers juxtaposed the conventional adjectival market.

 

What they're doing just ain't right.

 

Over the long hull, a lot of collectors are getting burnt.

[additude]

Also keep in mind the differences between grading services. There are some services that have an inherant reputation of grading low.

 

And to add: I sent a $10 Gold 1922 in to have it certified/graded. This was a beautiful note. No holes, rips, tears, very light fold-some crinkle folds (but you have to really stare to see them). It looked everything a 55+ would be. When I hold this up next to my other $10 Gold 1922 graded a 62 the this one seems to be it's a little lighter in color. It graded a 25. I have seen 40's in equally good shape.

 

I guess my question is, "What's the rhyme and reason behind professional grading"? What is the true benefit of professional grading?

 

Is there a grading standard? It seems to be very subjective and I don't mean just subjective, I mean very subjective.

 

I had a dealer once tell me that if they think a professionally graded note should have been graded higher they will cut it out of it's holder and re-sell it calling it a higher grade.

 

I bought a note once I thought was at least an AU+. It came back professionally graded a 40. I sent it to a different service and it came back a 45....

 

Wes

[cointagious]

Is there a grading standard? It seems to be very subjective and I don't mean just subjective, I mean very subjective.

 

 

Unlike coins, currency grading is very easy and virtually standardized throughout the professional end of the business. On page 2 of each Greesheet is a simple and accepted method of grading paper money.

 

BTW, by your description alone, the note is a VF.

[BankNote1]

10-4! Cointag!!!

I really don't see any use in TPG grading circ. notes.

[cointagious]

10-4! Cointag!!!

I really don't see any use in TPG grading circ. notes.

 

 

Gee, Monty, whadda call it when they jam pressed xf & au notes into holders with MS64 on them???????

 

I don't expect the slabbers to be the policemen of the hobby but to join in the looting is pretty slimy.