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<p>[QUOTE="CR Wallace, post: 3069051, member: 95091"]The 692 $20 Missing Undertone error that will be at the Fest for auction is HUGE and very significant. The opportunity to even have a chance at owning one is incredibly rare. If you are into US MPC's then you have to get euphoric from this note, because if you know about MPC printing and production; then you understand just how rare MPC errors are, and while there are other series that have errors - the total sum that made it to circulation is astonishingly miniscule. They aren't like the plentiful accidents that come from intaglio printing and enormous volumes of notes like the BEP, MPC is printed using lithography and inspected by the printer and then military multiple times... and the D.O.D. loves destroying flawed things. </p><p><br /></p><p>My opinion on graded MPC's presented with some facts (not opinions.) Grading MPC is a tricky thing, again because of how they are printed. For me, a number is a number when it comes for MPC. Especially when it comes from PCGS who still to this day mark a plate number on graded MPCs.... there are no plates, they are sheet position indicators. And there's margin/centering issues like with the Series 691 $20 that was posted here at a 68... with those margins? But the REAL problem with grading MPC and why it doesn't really account for a beautiful note is the FACT that in intaglio printing which uses dye, not ink.... there are vast differences in pigment richness and density from run to run. There was a Series 661 $1 posted at a 69 which suffers from the usual strong face/weak back - weak face/strong back issue. That one has a weak printed back, you can see the color is more transparent and less rich than the face. I can tell you from personal experience - that finding a 661 $1 with rich printing on both sides is frustrating, and unfortunately these intricacies of MPC fail to factor into grading, when they absolutely should given the crazy price differences between 66 and 68 and the like.... But here an example of a strong face and back from my collection:[ATTACH=full]771038[/ATTACH]</p><p><br /></p><p>The Series 661 $10 with the bright red, and the yellow and orange of the back is possibly the most affected by the printing process. Personally the most beautiful one I have ever seen was one of David Seeley's and graded at a (unflattering to some *not me!) mere 45. The printing was amazing. Strongest back I've seen yet. And I regret not grabbing it everyday. Here's the drastic difference with intensity in them, and between a 65 and a 68 no less! (images from Heritage). </p><p><br /></p><p>[ATTACH=full]771045[/ATTACH] </p><p>Another example of how a slight lower grade looks vastly different than the one posted earlier. (one thing that annoys me is the overlooking of paper whiteness and it's regardless to the PPQ designation). </p><p>[ATTACH=full]771053[/ATTACH] </p><p><br /></p><p>Now to go back to where we began; MPC errors... so far there is only one of these known, and it's in my possession. It's known in the key tier of MPC aficionados, and quite the note of contention between them. I would like to state gratitude to Carlson Chambliss for sparking me to follow through with this note for the love of the hobby, which at the end resulted in a confirmed authentication from PMG. This is the first time this note has been shown publicly. </p><p>[ATTACH=full]771056[/ATTACH] </p><p><br /></p><p>Lastly for the number lovers - this wonderful note with the PMG STAR designation is the only one of this denomination... and it's for sale! <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" /></p><p>[ATTACH=full]771057[/ATTACH][/QUOTE]</p><p><br /></p>
[QUOTE="CR Wallace, post: 3069051, member: 95091"]The 692 $20 Missing Undertone error that will be at the Fest for auction is HUGE and very significant. The opportunity to even have a chance at owning one is incredibly rare. If you are into US MPC's then you have to get euphoric from this note, because if you know about MPC printing and production; then you understand just how rare MPC errors are, and while there are other series that have errors - the total sum that made it to circulation is astonishingly miniscule. They aren't like the plentiful accidents that come from intaglio printing and enormous volumes of notes like the BEP, MPC is printed using lithography and inspected by the printer and then military multiple times... and the D.O.D. loves destroying flawed things. My opinion on graded MPC's presented with some facts (not opinions.) Grading MPC is a tricky thing, again because of how they are printed. For me, a number is a number when it comes for MPC. Especially when it comes from PCGS who still to this day mark a plate number on graded MPCs.... there are no plates, they are sheet position indicators. And there's margin/centering issues like with the Series 691 $20 that was posted here at a 68... with those margins? But the REAL problem with grading MPC and why it doesn't really account for a beautiful note is the FACT that in intaglio printing which uses dye, not ink.... there are vast differences in pigment richness and density from run to run. There was a Series 661 $1 posted at a 69 which suffers from the usual strong face/weak back - weak face/strong back issue. That one has a weak printed back, you can see the color is more transparent and less rich than the face. I can tell you from personal experience - that finding a 661 $1 with rich printing on both sides is frustrating, and unfortunately these intricacies of MPC fail to factor into grading, when they absolutely should given the crazy price differences between 66 and 68 and the like.... But here an example of a strong face and back from my collection:[ATTACH=full]771038[/ATTACH] The Series 661 $10 with the bright red, and the yellow and orange of the back is possibly the most affected by the printing process. Personally the most beautiful one I have ever seen was one of David Seeley's and graded at a (unflattering to some *not me!) mere 45. The printing was amazing. Strongest back I've seen yet. And I regret not grabbing it everyday. Here's the drastic difference with intensity in them, and between a 65 and a 68 no less! (images from Heritage). [ATTACH=full]771045[/ATTACH] Another example of how a slight lower grade looks vastly different than the one posted earlier. (one thing that annoys me is the overlooking of paper whiteness and it's regardless to the PPQ designation). [ATTACH=full]771053[/ATTACH] Now to go back to where we began; MPC errors... so far there is only one of these known, and it's in my possession. It's known in the key tier of MPC aficionados, and quite the note of contention between them. I would like to state gratitude to Carlson Chambliss for sparking me to follow through with this note for the love of the hobby, which at the end resulted in a confirmed authentication from PMG. This is the first time this note has been shown publicly. [ATTACH=full]771056[/ATTACH] Lastly for the number lovers - this wonderful note with the PMG STAR designation is the only one of this denomination... and it's for sale! :D [ATTACH=full]771057[/ATTACH][/QUOTE]
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