Grading companies and there Professional Responsibility

Discussion in 'Paper Money' started by rjbeck, Apr 17, 2009.

  1. rjbeck

    rjbeck COLLECTOR

    Has anybody read about a third party grading company and there numerous lawsuits and charges of consumer fraud in many states regarding there practice of over grading there currency for dealer friends so they can get a premium price for there currency. I mention this because being new to collecting currency I rely on these companies to help me make decisions on my purchases, I also rely on cointalk and there very knowledgeable collectors and my reference books to help me with my final decision to buy a bill. I just think it's a kick in the face for this company to continue to operate in this manner.RB
     
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  3. spock1k

    spock1k King of Hearts

    learn to grde before putting serious money in or ull be sorry
     
  4. Daggarjon

    Daggarjon Supporter**

    buying note sin plastic can be nice, BUT they are humans who grade those notes. Humans ARE prone to making mistakes. TPG's are no exception even if the CRC or whatever the green sticker says, gets involved.

    If you learn to grade notes for yourself, you will never be disapointed. If the plastic says EF 40, and you think the note looks maybe VF 30... dont second guess yourself. In a situation liek that - i would still bid ... but iwould only bid up to what i thought a VF30 would cost

    DO NOT get wrapped up in bidding that you over bid for the note. There will always be another note to come along!
     
  5. dursin

    dursin Senior Member

    I agree with the previous posters. Learn how to grade and recognize what grade a note is by yourself. Not a big fan of the TPG's...imho they've done more harm to the hobby than good.
     
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