I’ve been bidding on some currency auctions on Great Collections and have picked up a few world notes graded by Legacy. It seems that Legacy is used quite a lot by GC. What is the current consensus on the value of that certification relative to PMG and PCGS? Is the grading generally accurate and are they well accepted by the market? Or is it a newer equivalent of the old CGA certs?
For lack of a better word, there is no trust, and where theres no trust theres no value, ask yourself this question, how many legacy notes do you actually see on e-bay or any other auction site? the answer is not many and why is that? because the owner of legacy grading is the same guy that ran PCGS ( Collectors Universe ) in to the ground !! basically overnight causing people like me to lose Thousands of dollars, so i would think twice about buying anything with legacy grading tab. If i were you i would avoid CGA certs as well, there was a big scandal several years ago in where they were caught over grading notes for an individual in Florida and thats bad news when it comes right down to it. As far as value i would go with the industry standard PMG or PCGS (Gold Shield) both offer integrity and value.
Given the less than stellar reputation of this grading company, I’m surprised that GC has so many of their notes in the their auctions. For world currency it seems to be the majority. I wonder if they have negotiated lower grading fees for consignors.
