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<p>[QUOTE=&quot;funkee, post: 1695990, member: 37925&quot;]PMG states:<i> <span style="color: #000000"><font face="Verdana">A “Net” graded note is one which has had an adverse occurrence after it was printed. </font></span></i></p><p><i><span style="color: #000000"><font face="Verdana"><br /></font></span></i></p><p>Basically a Net or Apparent (PCGS) grade indicates a flaw with the note that occurs after the note was printed, aside from usual circulation, without which the note would achieve that grade. Things that might result in a Net grade are: stains, edge tears, internal tears, pinholes, missing pieces, writing, stamps, restoration, etc. </p><p><br /></p><p>Without the pinholes, your note would have likely achieved the same VG-10 grade, with no Net. Having pinholes, it would have achieved VG-10 Net with a comment &quot;Pinholes&quot;. If the pinholes were closed, the note would grade VG-10 Net with a comment &quot;Closed Pinholes.&quot; Closing the pinholes does not get rid of the Net grade, and it doesn&#039;t improve the grade. The idea is you can&#039;t &quot;uncirculate&quot; a note - although many people try.</p><p><br /></p><p>This leads us into the area of restorations. There are plenty of opinions on the subject. Some feel that professional and undetectable restorations add to the value of a note. Others feel that notes should not be tampered with at all. The difficulty is how to define a restoration. It can range from crappy job using scotch tape and Elmer&#039;s glue, to professional restorations closing pinholes, reattaching pieces and removing stains. And then there&#039;s doctoring.</p><p><br /></p><p>In my opinion, the difference between doctoring and restoration has to do with disclosure. If anything is done to a note to improve it&#039;s appearance without disclosure, I would call it doctoring.</p><p><br /></p><p>The TPGs like PMG and PCGS do not increase the grade due to a restoration. There are sellers out there <i>**cough** </i>Jimrob23 <i>**cough**</i> that will attempt to improve the appearance of a note and resell it at a higher grade, without disclosing what was done - that&#039;s doctoring. I&#039;ve seen notes graded at 25 being passed as uncirculated after cleaning and pressing. Search around and you&#039;ll find a lot of threads on the subject with plenty of images.[/QUOTE]</p><p><br /></p>

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