Hello, I have always been just a coin guy, but Colonial paper money has been grabbing my interest for quite some time now, so I decided it was time to take the plunge. My biggest question right now is how do you grade it? I have found a number of things on paper money in general, but Colonial notes often have certain issues that are not mentioned in any of the generic grade descriptions I can't figure out how it affects the grade. Are these usually just noted in addition to the grade? What would cross the line to making it an "Apparent" grade? Some of the issues I have in mind are tears, missing sections from the edge, torn and repaired, pin holes, etc. Curious too if it is generally a good or bad idea (assuming you have the requisite skill) to remove tape repairs and do something like a Japanese paper repair instead? I know that is how documents are usually repaired, but I can't find anything on what is best for notes. Thanks!
I collect some currency (U.S.) and have some colonial era notes. I'm not good enough to grade so I buy only PCGS or PMG graded notes. I couldn't tell a counterfeit from a plum. Good luck on your hunt.
You should leave the notes as found. Removing tape will leave residue. Most importantly, you are removing a part of that bills history. Any attempt to repair or restore is risking a chance of creating further damage, even by an expert and most bills just aren't worth the cost.
Grading notes is basically the same, regardless of what type of paper Your grading most have issues especially from the time period your Talking about.
After reading this thread, I contacted a friend that was formerly a grader for Jason Bradford at PCGS and asked his opinion/advice. This was his reply; Colonials are usually the bane of grading services. Something I would call XF would get 58. Its kind of like obsoletes. Obsoletes get a one point bump simply because of the paper used. All the issues you mentioned can result in a commented grade. Don't forget about retraced signatures and serials as well. Some foxing or staining may be present. If its minor I would let it by. Some are silked as well. As for the repair question. I do some restoration work (removing stains, tape, ink, etc) for some people and I have been practicing the japanese repair method. As long as it doesn't have acid in the tape it wont yellow or hurt the paper. BUT it will look cosmetically better, but would still be called out by a grading service. But hey, anything is better than a huge hunk of scotch tape! As with any restoration work you have to keep in mind it is a gamble. Everything reacts different and you would have to assume the risk the note could come out worse. Hope this helps.
