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Getting bills graded?


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With grading you need to have the same thoughts as with coins...

 

Will slabing the <insert what you will> make it worth more retail then what it is worth now + the charge to slab it.

 

For example if a debatable bill is worth $200 in Fine and $400 in Extra Fine, it would be worth it to have it graded. If a delaer will only give you $200 becasue they state it is a Fine Note, there isnt much you can do. If you have it in a slap that says it is Extra Fine then you have proof it is. You can now sell it for $400, therefore you can look at it as a $180 profit if it only costs $20 to have graded.

 

If it is a personal Item not for sale... I dont see the point in having it graded.

 

-Bobby

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If your collection is for personal enjoyment only, there is really no reason to get a bill, or coin, graded/slabbed. (unless grading it somehow makes you enjoy it more). If you are into selling stuff (which I am not), you need to do a self-assessment and decide how good you are at grading. Bobby and the other professionals here are probably extremely good. If you can do it accurately enough to make your customers happy and build some trust, that's probably okay for most bills/coins under a certain price. Over a certain price, people will probably want an offical grading unless they are also experts.

Although I would sell my car before I sold my 1896 Education Bill, if I did, I would want to get an official grading in order to make sure I got every penny it was worth. Also, if you can tell that the bill/coin is not going to make a high grade anyway, it is probably not worth doing.

Sometimes, I see people selling large amounts of inexpensive coins that are graded/slabbed. I can only guess that they have some kind of inside track to get that stuff done at a very low cost.

Dave

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heheh, i'm hardly a professional. i've seen many note slabbers adopt the 70-point coin grading system (au-58, cu-64, gem 66, etc), but i'll stick to the international banknote society standards. it's a lot simpler, and it doesn't take a doctorate's degree to figure out.

 

UNCIRCULATED: UNC A perfectly preserved note, never mishandled by the issuing authority, a bank teller, the public

or a collector. Paper is clean and firm, without discoloration. Corners are sharp and square, without any evidence of

rounding. An uncirculated note will have its original, natural sheen.

 

NOTE: Some note issues are most often available with slight evidence of very light counting folds which do not "break"

the paper. Also French-printed notes usually have a slight ripple in the paper. Many collectors and dealers refer to

such notes as AU-UNC.

 

ABOUT UNCIRCULATED: A virtually perfect note, with some minor handling. May show very slight evidence of bank

counting folds at a corner or one light fold through the center, but not both. An AU note can not be creased, a crease

being a hard fold which has usually "broken" the surface of the note. Paper is clean and bright with original sheen.

Corners are not rounded.

 

EXTREMELY FINE: EF(XF) A very attractive note, with light handling. May have a maximum of three light folds or

one strong crease. Paper is clean and bright with original sheen. Corners may show only the slightest evidence of

rounding. There may also be the slightest sign of wear where a fold meets the edge.

 

VERY FINE: VF An attractive note, but with more evidence of handling and wear. May have several folds both

vertically and horizontally. Paper may have minimal dirt, or possible colour smudging. Paper itself is still relatively

crisp and floppy. There are no tears into the border area, although the edges do show slight wear. Corners also show

wear but not full rounding.

 

FINE: A note which shows considerable circulation, with many folds, creases and wrinkling. Paper is not excessively

dirty but may have some softness. Edges may show much handling, with minor tears in the border area. Tears may

not extend into the design. There will be no center hole because of excessive folding. Colours are clear but not very

bright. A staple hole or two would not be considered unusual wear in a Fine F note. Overall appearance is still on the

desirable side.

 

VERY GOOD: A well used note, abused but still intact. Corners may have much wear and rounding, tiny nicks, tears

may extend into the design, some discoloration may be present, staining may have occurred, and a small hole may

sometimes be seen at center from excessive folding. Staple holes and pinholes are usually present, and the note

itself is quite limp but NO pieces of the note can be missing. A note in VG condition may still have an overall not

unattractive appearance.

 

GOOD: A well worn and heavily used note. Normal damage from prolonged circulation will include strong multiple

folds and creases, stains, pinholes and/or staple holes, dirt, discoloration, edge tears, center hole, rounded corners

and an overall unattractive appearance. No large pieces of the note may be missing. Graffiti is commonly seen on

notes in G condition.

 

FAIR: FR A totally limp, dirty and very well used note. Larger pieces may be half torn off or missing besides the

defects mentioned under the Good category. Tears will be larger, obscured portions of the note will be bigger.

 

POOR: PR A "rag" with severe damage because of wear, staining, pieces missing, graffiti, larger holes. May have

tape holding pieces of the note together. Trimming may have taken place to remove rough edges. A Poor note is

desirable only as a "filler" or when such a note is the only one known of that particular issue.

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using a popular and widely accepted grading company is always the better choice when it comes to reselling down the road. while no grading service is 100% accurate, people will be more inclined to believe a pcgs gem 66 over a smaller company gem 66.

 

along with pcgs, ngc's parent company is also grading notes.

http://www.pmgnotes.com

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