Grading Notes

Can someone point me in the direction of a source for learning the basics behind grading notes. I assume, as with coins, this is a very difficult art to master...but you have to start somewhere. Is it safe to assume that for the most part, the grading of notes is the same across all notes (as opposed to coins where each coin design has it's own unique wear spots and you must know each type of coin)?

As I continue to become more and more interested in paper...I want to make sure I am properly educated so I don't waste my money.

 

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Here are a few good resources to start with:

http://oldcurrencyvalues.com/GradingCurrency.html

http://www.pcgscurrency.com/g_scale.html

http://currency.ha.com/c/ref/grading.zx

 

I'm not a currency specialist, but just from observation, here are potential issues that could cause grading differences (similar to coins and detail stamping with older issues):

1) Materials used. Some countries use polymer based notes, so circulation will be more evident in the form of hard creases, but less so in overall wear.

2) Inks / colors used. With US notes changing inks and with the impending vertical $100 notes, wear patterns / characteristics may also change. Also, since you're grading not only wear on the "paper" but ink, as well, you have additional factors to consider.

I think for these reasons, net grading (which seems frowned upon in numismatics) may be far more commonplace with currency grading. Good luck at branching out your collecting.

 

Grading is very subjective. Even PCGS and PMG has different standards. Here is a site I received from fellow member Clayirving

http://www.clay-irving.com/currency/grading.html

 

Nice site. Good work Clay.

That poor Poor educational silver. Took me a minute to even figure out what that note was.

 

This is a good place to start:

http://www.pmgnotes.com/grading/grading-scale.asp

 

Keep in mind that grading from TPG's is via their own standards, and are generally used in the USA for US notes. The rest of the world uses the IBNS grading standard (www.theibns.org), which is again different.

Dave

 

I spent a lot of time talking to one of the PCGS Currency graders at the National Money Show last week. It was very interesting to listen to him talk about grading versus individuals on forums. Not sure I am any better at grading but do have more of an appreciation for it.