Is EPQ that additive to a bill's value, like CAC ? We talking 20-30% onto FMV or more like 5-10% ? Maybe it's more critical for very rare bills where condition of the paper is usually not that great, like older bills ? Was wondering because I saw a PMG-40 $10 1928 Series GC just like mine but 5 grades lower....but with EPQ...and it went for about 2x what I paid for mine 7 years ago, about $600. I think FMV for mine is maybe $450. But maybe I'm wrong. Veteran currency guys....thoughts on EPQ ? Does it depend on the type of bill and age or if it's for a bill near an inflection grade where price jumps alot ?
Yes & "it depends" always. To some collectors the Q is not really that important (usually, from what I can tell, coin collectors don't care, esp if they're just trying to assemble a basic type set). Sometimes, when a deal is too good to pass up, it is hard to get too worked up over whether the desired note has a Q (or not), esp if the note has great eye appeal & doesn't come up for auction frequently. What I have found is that every collector has different "deal breakers." For some, its "less than UNC," others "no Q = no deal" & still others it may be ink, tears, or some other issue/details. On certain older series, the Q is less relevant, such as Nationals (I believe from what I have observed on several forums). Most Nationals, when you go back far enough, just don't have examples with the Q (original) designation. So many were pressed or washed & collectors know that they wouldn't have any sets if they were waiting for an EPQ example. Were some nationals actively culled? If that's the case, then you know a Q is impossible. So a series reputation (how many we think are out there) has some play in it too. For me, the "Q" (or "Original") is absolutely "within reach" so a must for me, even on our Bank of Canada 1935 series (Original are probably 20-30% of the total #) but the grade number & even borders, don't mean as much (ie: I'll take a VF35 EPQ over an EF 40). But your question about how much a premium is very difficult to answer. For the tougher, work horse notes, I'd imagine it is higher. I would think that the premium would depend more on how popular a specific series is & how often Q notes come up to market. If the market gets very soft (due to World events) a mark up for Q might be impossible. So, that's how I look at it.
Thanks Nota....I think I just have to find a similr Gold Certificate to the ones listed with a 40-45 grade without EPQ and see what the price is. They are affordable in that grade and denomination so they certainy got bid during Covid by the newfound keyboard kollectors so the price jump is not unbelievable even without EPQ.
Prices have gone up right across the board (on just about everything). If I were in the game for a Gold Certificate, I'd be posting my desire on a few of the forums. There are senior collectors who know their kids/descendants have 0 interest in their sets, & are often willing to part with some pretty tough notes (& often would prefer another collector buy it, rather than go through the auction house rigmarole). Good luck!
Right now I'm just trying to gauge what the price trend has been. Not actively in the market for a GC but you never know. If anything, might use the weakness in gold to buy something I know probably won't be at FUN 2027 and need to buy it at HA, GC, or even Ebay. I was considering a higher-end GC at FUN 2026 but then came across that nice pair of DEs I've talked about (1 Saint, 1 LH) so went with them. Checked out a $50 GC which I believe was close to $2,000. Mid-50's grade as I recall. All the Covid buyers chased low-priced stuff that they could afford: circulated large denomination bills....MSDs.....gold fractionals (and this was with gold at $2000 and under !)....all stuff from $150- $750 more-or-less. Full-ounce gold coins and higher-end stuff they stayed away from. Guess they were buying Giannis or Michael Jordan cards with their 5-figure money !!
If possible, when collecting paper money always seek out PPQ ( PCGS ) or EPQ ( PMG) you will find the notes much brighter and the paper crisper, heres a good example of my $1,000 note in 58PPQ and the $500 in 55 all grading a side you can clearly see the difference,
+1 Great examples @mpcusa! This is how I feel 98% of the time (& it used to be 100%) but the longer I've been immersed in this hobby, the more certifications I doubt are 100% accurate. So, for some certified examples, I might bend the rules for a softly pressed note. That's what I imagine is why the note did not get the "Q" or "Original" in the case of certain Canadian BCS + other TPG notes (PMG, PCGS, CCGS, Legacy, etc). I have seen some pretty bright, rich coloured "original-looking" notes without the Q (or no "Original" designation) & have just about gone blind looking for a pinhole or some other offence/deficiency. Often I have come up empty handed, I have surmised that UV evidence must have suggested an inordinate amount of handling. I have also figured that the example I am considering may have been lightly pressed & something else (broken fibres) that may have disturbed the certifier. For the most part, however, I just take a pass on these non-Q note. Not worth it in my books (esp with high-end, expensive notes). I have seen too many washed jobs that have a different kind of "bright" that took a great deal of time for me to discover the evidence.
Its a very selective process and open to debate in most cases, i use to be big in to cross grading from PMG to the old PCGS in high quality notes 67 and above have a real problem with 65 graded noes most are way out of wack on the centering. But if your going for max value PPG or EPQ is the way to go if possible, i like 58PPQ notes there usually well centered and problem free, i,am the same way with coins
