Been trying to learn a bit more about Grading by looking at notes on the web and comparing them to the guidelines from the PCGS website (posted below) and other graded notes but to my untrained eye some of the guidelines don’t seem to follow what I see on notes. The guidelines say that an XF-40 can have three folds and pinholes but all the notes I’ve seen at 40 don’t have any folds and look really nice. The latest note I’ve been trying to guess the grade on is this one. It looks pretty good and does have three folds (one grading chart said a typical VF-30 would have 7-10 folds) so having trouble figuring it out. My initial guess based on the guidelines was that this Educational is probably a VF-25 but then I found the PMG-25 posted below and think it looks much worse so maybe the first note is a 30? or can they both be a 25? Anyway…I figured I’d bring up the topic and see if someone more knowledgable on grading might chime in Extremely Fine 40 The old standard of “three folds makes an XF” is applicable here, as typically a thrice-folded note does indeed usually grade “40”. Common sense exceptions must be made, however, as three folds that are exceptionally heavy may drop the note into a lower grade category. Notes with three folds and a couple of other minor light bends or folds may occasionally make it to the “40” grade if the extra folds are light enough and are not obtrusive to the overall appearance. A typical XF note may have a couple of pinholes, but any larger holes would prevent a note from reaching this grade. ___________________________________________________________ Very Fine 35 This is a “just miss” grade, comparable to the grade “About Extremely Fine” used by some companies. It represents a note that is very close to an Extremely Fine 40 but that has one or two minor faults, such as an additional light fold or two that preclude a higher grade. A “35” should have eye appeal that is well above average for a VF note. ____________________________________________________________ Very Fine 30 One or two extra folds on an otherwise Extremely Fine note would lower an example to this grade level. The paper should remain nearly fully bright, and it should retain strong crispness. A “30” will retain good color and eye appeal and should have no more than a few scattered pinholes. ____________________________________________________________ Very Fine 25 A “25” is basically a “20” that for some reason appears slightly nicer than average or has some (but not enough) claim to a Very Fine 30 grade. A “25” will typically have bright, solid paper with some signs of light handling or circulation, and it may have more folds than are allowed for a higher grade. ___________________________________________________________ Very Fine 20 A Very Fine 20 note should have plenty of body remaining in the paper, although numerous folds, wrinkles, or other signs of circulation may be present. Mild soiling might be apparent, but it should not be serious. The paper should remain relatively bright. No tears, stains, or other impairments should be readily apparent, and the note should still have nice eye appeal. Several minor pinholes may be visible when the note is held to a light. The corners may be slightly frayed or slightly rounded at this grade, but the paper should retain nearly full crispness and there should be little or no loss of color in the design.
I can definitely see them on the front but they're just not a noticeable as the reverse. Though, the second note seems much worse off and that's graded at 25, can both notes be a 25?
Unfortunately, there is no way to properly detect folds from scans or photographs. Early on, while attending a large coin and currency show (FUN 2011) I stopped by Scott Lindquist's table and he was kind enough to talk to me about grading paper money. He said the key was to get a small, LED flashlight and shine it across the paper, from end to end. He showed me this with 6 or 7 different notes. It not only detects unseen folds but also shows any embossing, as with the serial numbers. When I left the show, I stopped by Home Depot and picked up a small LED flashlight like Scott used. It's an LED Lenser. It's about 7/8" diameter and only 4" long with an aluminum body. I use it with every note I get. While Scott was explaining grading to me another collector stopped by, and then another, and another, and by the time he was done there was at least a dozen of us hanging on every word he was saying. Scott Lindquist is one of the authors of the Standard Guide to Small-Sized U.S. Paper Money. Photographs and scans are OK for general eye appeal, but even that can be manipulated with lighting.
The front part of this note is very clean would be thinking a easy 30, however the back you can really see the major issues the heavy fold and staining, which really drag it down to 25
Why do they go in increments of 5? Why not have a VF-28 etc.? It seems nicer than the Graded 25 but maybe not a 30.. is there no middle ground??
No middle ground there, either 25 or 30, how ever once you get in the upper ranges Like A/U grades there is 50,53 and 58 then you get in to the uncirculated notes which go through 60,61,62,63,63,65,66,67,68,69,70 each grade having a specific requirement for more detailed look go to either PCGS website or PMG,s
That's where I got the info I cut and pasted in the first post Yeah, it makes more sense to only have the smaller increments in the upper grades anyway
I don't think it looks nicer at all than the graded note. On the contrary, I like the graded one better. The reverse stains just kill the first one for me.
