I'm digging through past auction records in Track & Price, and I see a remarkable difference in prices paid for CGA notes versus PCGS or PMG notes of the same grade. I know that CGA is not top gun, but I figured they are well known and respected enough to command somewhat similar prices. I was surprised when I looked at Fr. 2300 the $1 Hawaii Silver Certificate in 68 grade. PCGS 68 PPQ - August 2012 - $1,645. CGA 68 - April 2012 - $370. PCGS 68 PPQ - April 2012 - $1,035. PCGS 68 PPQ - January 2012 - $1,380. CGA 68 OPQ - November 2011 - $361.66. This pattern repeats itself among other notes and grades as well. I didn't think that CGA was so lenient or so disrespected in their grading to result in such a dramatic difference in price. If they were that much more lenient I would expect many more CGA notes when compared to PCGS. Looking through past auctions, they're very close. For 68 grade, we have 12 CGA and 9 PCGS, with 1 PMG which hooked $2,185 in 2008. For 67 grade, we have 32 CGA vs 34 PCGS vs 30 PMG. So why is there such a dramatic difference in price? Why all the hate for CGA?
The Fr.2300 encompasses everything from the common S-C block through the somewhat rare A-C block. You can pick-up a GEM S-C block for under $200, and the GEM A-C block can run 5 to 10 times that amount regardless of the TPG name on the holder.
From what I understand they still have a stain from grading issue before being purchase by current owners. I guess it is significant enough that the notes graded since the new ownership have a star on them (below is a picture of a holder I found on Ebay). At least that is my understanding. From what I have heard they have done a good job since the ownership change. Hopefully this information is correct.
This is correct. I'll add that the CGA brand was purchased April 13th 2009 by John Spinelli and they added a STAR to the back of the holder. About a year ago, CGA revised their holders. They made them 30% thicker and added the STAR to the front of the holder. All three TPG's have a currency forum and of the three major currency graders, (PCGS, PMG & CGA), CGA is the only one that does not require annual membership fees to grade your notes.
Ah yes, I forgot about the various blocks of the Hawaii series. I will take a look at that tonight and see if that accounts for the price difference.
