I normally collect experimental U.S. coins but decided to expand to experimental U.S. paper money also. Background: At the 2007 International Paper Money Show, an original pack of previously unknown COPE Experimental Notes surfaced. Unlisted in any reference guide the trial pieces were submitted to PCGS for authentication and grading. Although none of the specialists they consulted had ever seen an example prior, each concluded that the specimens represented genuine experimental test notes, manufactured during the 1970's. Additional research uncovered the presence of invisible roller marks, left by COPE machinery during the manufacture offering unequivocal evidence of their origin. 100 pieces known to exist.
Awesome acquisition! I can see the roller marks on your photo. The realm of experimental currency is surprisingly broad and can get pretty expensive. A good place to start are the experimental 1928 and 1935A series of silver certificates. Do you mind me asking how much this note cost you?
I am aiming for the 1928 and 1935 series next, it is fascinating the more I read into experimental notes. I spent $400 on this piece.
That's pretty cool and for only 100 in existence a bargain I believe. You mentioned experimental coins could you give me an example of those too?
Nice piece even though i don't collect these i always find them very interesting !! Keep up the good finds !!
While I think this is a really cool piece...I'm unsure what to make of this statement. If none of the PCGS specialists had ever seen an example and they are unlisted in any guide...how can the graders determine if they are authentic or not?
It's just like any other discovery note or authenticating a coin planchet. There are characteristics of the paper and printing process that can help authenticate it. After verifying the paper is correct, the serial numbers correspond to the proper equipment, and the roller marks, the graders likely contact the BEP to verify the existence of such notes and the serial number range. I think all that will qualify the note to be authentic. I wonder more about how they determined the grade, since notes 65 and above are generally free of any handling. At that point it's just centering and registration that differentiate a 65 from a 67, or 70. This note lacks both centering and registration.
I feel like you answered your own question. If the only thing that separates a 65 from a 67 or 70 is centering and registration and this piece lacks anything to center, than it's highest grade can only logically be a 65. It's like 65 is the highest grade and above that is bonus points if the piece happens to hit the standard needed to raise the grade. This piece doesn't have the mechanisms to measure so it sits at a 65. That's just my take on what you mentioned.
I guess that makes sense. Thanks! I assume verifying the paper is correct is done by feel or something. Isn't the paper composition itself still secret? As for grading...couldn't centering (at least to a degree) be determined my measuring the location of the serial numbers to the boarders? My guess is that's the only thing on this note and needs to be centered...since it's the only thing present.
Barring expensive scientific equipment, one easy way to verify the paper's composition is its weight. Feel could be another way, but I'd like to think that graders do not rub their fingers on our notes. It's definitely possible to measure the relatively positions of the serial numbers to determine centering. I'm not sure if the graders would've gone that far, or simply left it at 65 as treylxapi47 said.
Here's one with a "Buy It Now" Price of $2,750: http://www.ebay.com/itm/C-O-P-E-EXPERIMENTAL-TEST-NOTE-PCGS-67-PPQ-/110711612969
