Searched and read through a ton of old threads but all I could find was the question of which currency grading company to use but I was more interested in finding out whether of not its preferable to have notes graded at all. All of my notes are raw and it seems more and more the notes I see on eBay and dealer sites are all graded which is limiting my choices as there are less and less raw notes available. I know raw notes are subject to varying opinions on their grade but after reading all of those threads on the different grading companies, it doesn't seem like there's much more consistency in graded notes from company to company either. Though it seems like at some point every note out there will be slabbed. So I guess my question is, are graded notes really preferred that much over raw notes by collectors?
Depends. I usually won't buy any Large Size, or high denomination notes unless they have been graded. My exception to date has been a recent $1,000 note that I bought raw from an ex-PCGS grader that told me the note would grade with a *PQ designation. I trusted his expertise and it worked out. I prefer original, unmolested notes. As far as grading companies go....if you plan on auctioning, any time soon and prefer eBay, Heritage, Stacks, etc. they will need to be raw, PCGS or PMG. If it's a high valued note, the auction house may advise you to have it graded first, or they will send it in for grading for you. National's and Obsolete's are a horse of a different color. If you want the note graded to keep in your private collection, I recommend Greg Davis at Superior Grading. All of my recent submission have gone there. An example of a mid-grade, unmolested Large Size note.
Thanks for the reply. I don't have any plans on selling ever them. I'll just hand them down to my kids. They don't even know I own them so It'll be a cool surprise when they find out in twenty years (hopefully longer!) I asked a coin dealer many years ago about how to get notes graded and he was against it and said collectors don't want them that way so I let it go. And reading through the older threads there seemed to be some that were deemed conservative, some lenient and one whose reputation is now unreliable. One post said "I use XYZ because their holder is classier" which makes no sense as that has nothing to do with the note or the grading Aside from that, would you say the only reason to have notes graded is for resale? If you're not going to sell them then just protecting them is the way to go?
Grading assures authentication and condition, and protects the note. Most of my collection (90%) is raw, and most of the graded notes I own were purchased already graded. Some collectors have their collection graded to participate in registry competition.
I only have six large size notes. I only bought the ones I really loved the designs on so I feel like i'm kind of done collecting them. The only thing I was considering was seeing about upgrading one or two that could be in better condition. Not sure if dealers take "trade-ins" towards the cost of obtaining the same note in a higher grade. Most all the notes I bought about twenty years ago from a guy named Stanley Morycz. I still have the paperwork that came with the notes so hopefully his grades are accurate. The issue I see coming is that if I want to upgrade to an amazing note, like a GEM it will most likely be already slabbed. I don't see many raw GEM notes out there.
Really nice large size notes (GEM) will usually sell for more when sold or auctioned in a TPG holder. Buyers typically want an assurance of condition and will spend more to get it.
I always look for raw notes first. Collectors and dealers expect to make more per note when they are graded, usually full retail. I trust my own judgement enough not to need a third party for grading. I can always have it graded at a later date so yhe fids have something to reference. Unless your children are as well versed in the note's value as you, they may sell them at a much lower premium than their true worth. I have even thought of selling my collection myself, to avoid this problem. Will they have the patience to get the most dollars for your collection or will they not want to put in that much effort?
I'll probably leave a note telling them that the notes are for them and they can do what they want with them and instructions for getting them graded if they intend to sell them but would prefer if they just passed them on to their kids as well.. I'm more of a collector than an investor, don't really want valuable stuff, just like having things that I enjoy without the added stress of having to protect and insure etc...but some of the things I really like are expensive so I do have a few expensive notes... Collecting/Investing is a catch 22 to me... Can't collect and invest and have your cake and eat it too unless you buy two of everything...
It appears that you want to leave your children a surprise and that's awesome, however why not show them the notes now and explain what makes them special. For starters, you will get to see if your children are interested in collecting them or not. If they are interested, it's something you guys can work and bond together with. I would also think they are most likely to keep them and pass them down to their children if they have memories with you talking about the notes (as opposed to just getting them after you have moved on). I don't know what kind of relationship you have with your children, but just thought maybe that's something you might want to consider. Lastly, if you want to leave them a surprise, then maybe keep a few very special notes set aside. Leave it to them with a note saying you got it with them in mind and wanted to give it to them as a last gift.
I have purchased graded/slabbed notes. I have sent some of my notes to be graded/slabbed. With that being said I prefer the notes raw. My primary goal for the grade/slab process is preservation of the note itself; not necessarily because they are rare or valuable, just because I want to pass them along in the best condition possible. All the notes here were purchased raw. == not rare or big $$, just a nice note to preserve == not rare or big $$, just another nice note == I just happen to like $3 dollar notes == this one needed to be preserved
Those're some snazzy note ya got there. Never looked much at non-US currency, didn't realize some of it was so ornate
Here's another reason I'm not convinced that there really is a consistent standard for grading... I found this note on a website and it's been Graded. I cropped so you can't see the grade. and I'd be curious to hear the consensus on what grade this note should be given ...
This thread went from the topic of whether one should buy raw or graded notes to a showing off thread, LOL.
Endeavor your are correct and ask that all overlook my lack of decorum in this matter. Perhaps this should have been a POLL question with only two choices: 1 = Raw 2 = TPG
