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<p>[QUOTE=&quot;Numbers, post: 1477377, member: 11668&quot;]Okay, see the PCGS grading standards <a href="http://www.pcgscurrency.com/g_standard.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.pcgscurrency.com/g_standard.html" rel="nofollow">here</a>, and in particular their explanation of the PPQ designation:</p><p><br /></p><p><br /></p><p><br /></p><p>So paper wave is a sign of originality which PCGS sees a need to reward.&nbsp; That sounds pretty favorable to me....&nbsp; Furthermore, if you click on the &quot;overview&quot; link on that page, you&#039;ll find:</p><p><br /></p><p><br /></p><p><br /></p><p>So original notes should have paper wave, but a very large fraction of surviving high-grade large-size notes have been pressed to remove this feature.&nbsp; In the past, paper wave was considered by some to be a defect, because it didn&#039;t look good in their view (much like the OP in this thread).&nbsp; However, in today&#039;s market, the majority favor original notes that still retain their paper wave, and these notes therefore merit a premium.&nbsp; PCGS points out that &quot;this may not always be the case&quot;: future collectors, like past collectors, may decide that they like pretty flat notes rather than original wavy ones.&nbsp; But the wave is still a sign of originality, not of decay/alteration over the time since printing!</p><p><br /></p><p>The <a href="http://www.pmgnotes.com/grading/grading-scale.asp" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.pmgnotes.com/grading/grading-scale.asp" rel="nofollow">PMG grading standards</a> don&#039;t use the term &quot;paper wave&quot;, but they do list &quot;may be flat&quot; as a reason why a CU-63 note might not receive the EPQ designation.&nbsp; Doesn&#039;t sound like they believe flatness is a natural, original state for a note, then.</p><p><br /></p><p>Aside from the TPGs, we could also look at the grading standards of a respected dealer like <a href="http://scottlindquist.com/guarantee-glossary/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://scottlindquist.com/guarantee-glossary/" rel="nofollow">Scott Lindquist</a>:</p><p><br /></p><p><br /></p><p><br /></p><p>Here&#039;s <a href="http://www.panix.com/~clay/currency/grading.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.panix.com/~clay/currency/grading.html" rel="nofollow">Clay Irving&#039;s grading glossary</a>, which I&#039;ve often seen linked on this and other forums as a reliable source:</p><p><br /></p><p><br /></p><p><br /></p><p>Notice &quot;should&quot;--as in, something&#039;s wrong if they don&#039;t.</p><p><br /></p><p>Finally, <a href="http://www.oldcurrencyvalues.com/GradingCurrency.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.oldcurrencyvalues.com/GradingCurrency.html" rel="nofollow">here&#039;s another site</a> which doesn&#039;t look especially authoritative as far as I know, but which I&#039;m linking anyway because it&#039;s got a good image (the last one at the bottom) showing an example of original paper wave on a large-size note graded 67.</p><p><br /></p><p>Now, Krispy: Can you produce any evidence at all, besides your own statements, that knowledgeable modern-day collectors consider paper wave to be a *bad* thing?&nbsp; Or that any large-size notes were originally flat, and that they became wavy over time due to improper storage?&nbsp; If these claims are really as obvious as you say, then you ought to be able to point us to somebody besides you who agrees with them....[/QUOTE]</p><p><br /></p>

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