Is PCGS bank note grading currently preferred over PMG or vise versa? Have both so I don't really care. Was wondering if there was a recent preference and why.
I prefer PMG just because they have been around longer, hey lets face it experience counts ! I do have a couple high denominations a $500 and $1,000 note graded by the new PCGS as well by the debacle that is called collectors universe the old PCGS people including me lost allot of money when there contract wasn't renewed. because the leadership was to busy in china trying to adopt and let there business go down the toilet
I really should not have any preference because I try to go by the maxim, "buy the note, not the holder." But it was a few hard lessons that made me that way. I really dislike the super large, old flimsy PCGS holders b/c they don't fit in my binders & are usually open (don't seal the note). I have a few of those & wouldn't mind getting rid of them. The newer PCGS (Gold?) holders are more contemporary (note sealed/better size) & seem accurate enough. I understand the debacle @mpcusa refers to but just look at each note in terms of whether they're a good fit for me in terms of my sets (& correctly assessed). This is very challenging for lower circulated grades & listings without decent photos so I tend to avoid anything that's not full disclosure if its pricey. I have avoided Legacy too (up until recently). My preference is Banknote Certification Services (BCS) which are more conservative than PMG but I tend to buy far more PMG graded World notes than PCGS (BCS only accepts Canadian submissions/no world). I got a few very poorly/over graded PMG notes b/c I trusted the grade on the holder (failed to inspect the note thoroughly enough) whereas no flawed PCGS grades. Overall, I feel its crucial to learn how to grade & not trust the TPG's & then buy the ones you need if you feel each is priced/graded right.
Yeah I had a few of the PCGS large first generation holders, just garbage! also learned that most were over graded to boot, they really had there head up there butt in the early days, one of the reasons they left one side of the note open was to allow air in to the holder so the note wouldn't rout just an old wives tale but its what they believed back in the day.
