It seems that every book or site I read on grading has different standards. Even PMG and PCGS seems to have different opinions on grading. Some sources claims XF should have no more than three folds while some say none allowed. Is there a universal grading standard for collectors to use? Also I picked up a note recently with a date stamp inked on it. Its not heavy and seems a bit faint, I can't find a site or book that says anything on how this affects the grade. Can anyone help? Thanks.
Grading can be discussed endlessly, so I won't start... But a date stamp will get either a notation or an apparent/net depending on the grade. Teller stamps and other processing stamps will not normally affect the overall grade but will usually draw a notation on a graded holder. Personally I find them distracting to no end on modern notes, but mind them much less on obsoletes and confederate notes (alot of confederate notes were interest bearing circulating notes that could be paid yearly interest, and were stamped on the back when this interest was paid).
Thanks. Sucks about the apparent notation, now I'm thinking about returning the note. The only saving grace is the note is a really nice AU and is not easy to come by in that grade.
Post a picture or preferably a scan and we can give you better advice. Do you like the note? My advice is always keep a note you like unless you paid an enormous premium for it based on it's grade. I'm buying the note, not the potential holder, could care less if the grader likes it as long as *I* like it...
Here is a visual guide that may help you estimate the grade of your note: http://www.clay-irving.com/currency/grading.html
Thanks for the link Clayirving. Heres the note in question. You can clearly see the date stamp but its not strong enough to make out the date.
1. I like this note. 2. 1940/3/9 - it's easier to read on the reverse. Hold it in front of a mirror and it might become clear. 3. If you didn't pay too much, that stamp isn't as bothersome as I might imagine, especially since it's the same color as the seal and sort of blends with it. If you paid just a little, I hang on to it.
Thanks. Wasn't that cheap but I'm going to hang on to it. I like the condition and my ebay bucks cushioned a good portion of the price.
If you sent this note to be graded it would most likely get the high grade, but with an "apparent" designation due to the stamp. I don't find it overly distracting, so I think it would still be worth hanging onto.
