I am not too familiar with graded currency, and I am wondering about a PMG Note. The note in question is a 1886 $1 Silver Educational Note. The grade is PMG 25 NET and starts out at $175. Would this note even be worth it? The holder says the NET is due to rust and a tear. Any suggestions?
Thanks for the link. I was looking more along the lines of whether this note would be one to consider due to the NET designation. I checked on the PMG note verification and it has this grade due to rust and a tear. Any suggestions as to whether it would be worth going after?
Many collectors won't touch net graded notes, it's similar to details grade in coins. If you don't mind the damage or repair, you can get nice looking note for the money though. Net graded notes sell for less than notes that are not net graded.
I 100% agree, and I'm guessing you're referring to lot 141124 in the upcoming Heritage Tuesday Night Auction. A friend and dealer once told me to buy notes I like with good eye appeal, and stay away from notes where the word "but" is in the general description, for instance, The margins are good, but the seal is faded, or The price is great, but the it has a small stain. If it's an imperfection you see before you buy it, then it's going to be an imperfection everyone else will notice if you ever try and sell it. There are alot of Fr.224's & 225's in the market place, and I , personally, would wait for a more attractive note somewhere down the line. Just my 2 cents Matt.
is "NET" similar to "APPARENT" on PCGS notes? i have a 1922 gold certificate that was in a PMG holder with a 35. i thought the note was much better than that so i resubmitted to PCGS. came back with a 50 but "APPARENT" it has a small edge tear that wasnt really even noticeable in the PMG holder. i would think that for this note it might only take away a small premium. besides that that note is beautiful. tell me what you guys think. sorry to thread crap BEFORE AFTER
I would avoid problem notes just like I avoid problem coins. Long term you will regret settling for it and when you want to upgrade it will be hard to sell.
Thanks guys, I appreciate the advice. Steve, that's the exact note I'm looking at. Besides the rust on it, it looks pretty nice and I've always wanted one of those notes. I just wasn't sure about the NET grade. I think I'm going to pass on this note. I had my reservations before after seeing NET and now I know they weren't unfounded.
Yes, "NET" & "EPQ" (PMG) are the equivalent to "APPARENT" & "PPQ" (PCGS)....both connotation's describe evil & good for both of these third party graders.
