I may be selling this note to a member. I took it to the CSNS show for opinions and they were mixed. Talked to the people at PMG and that was like talking to a box of rocks.She had no idea what I was talking about. On this note If you look at the top and bottom there is a little bit of a wave to the paper. My questions is. Is this acceptable for the grade? If not should it be sent back to PMG for review? And last but not least what's its value. Thanks Doug
I would want to examine the note under magnification before buying it to insure it was not damaged by what caused the waves. If it was caused by humidity or storage conditions the grade seems fine and the wavyness probably brought the grade down to 50. If someone did something to the note you should be able to tell under magnification. If so then the grade should be "apparent". Jmo. Value is up to the buyer and they should be able to look at recent ebay auctions to get a feel for a fair price.
Take into consideration that "waves" in a paper can also happen from the printing process. While it is true that a note this old probably should have had the waviness removed from age, it is in very nice condition, so it may be that they stayed. USS656 is right about doctoring. PMG would have given it an apparent grade instead of a normal one. Look under magnification and a strong light to be sure.
From what I can see, on the reverse of the note, is that it looks like the paper wave was caused by moisture. On the reverse top border (the mid section) you can see paper color differences (light stain) as well a the wave. The bottom border has the same indications however less of them. I feel pretty certain that the graders saw this as well as some light handling and thus the AU grade. Although it is a nice note, there are plenty of high grade examples of this type available. I would check Heritage, Lynn Knight and Bowers for auction activity in this grade range. RickieB
I concur with RickieB. I had not noticed that slight stain on the back before. Looks like moisture to me also. Disregard the previous reply about printing press causing the waviness.
I,am not sure if your talking pre or post damage but based on the grade on condition Your looking at between $225-$250 per the dealer Green Sheet
