Problems with PMG overgrading notes

What do you all think of this. I was blown away. And PMG is widely considered on of the top 3 grading companies!

http://www.mindstar.com/currency/PMG.html

 

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well i would say that is just 1 example. you cant just judge a grading company on that. here is a note that i had that was originally graded by PMG. i thought the note was undergraded so i resubmitted it to PCGS and you can see the grade below. i prefer the holders of PMG over PCGS and CGA. i plan on submitting about 100 notes to PMG later this summer.

 

Hmmmm. Maybe an ad for CGA or porscheahmet? Can't wait to see others replies.

 

Interesting, I'd like to know how others weigh in on this as well.
Maybe this is a good one for Rusty's (mpcusa) TPG support group to address too.

 

Send it to a third company....or even better, start your own and get the grade you want every time? TPG is just an opinion....and they do not have to agree.....

 

I am aware of a case that was thrown out of court on Feb 19, 2010 where there was a suit filed against former owner of CGA...the plaintiff's case was thrown out...could this possibly be counter proof of other subjective faults?


My Opinion:

TPG is a subjective opinion only and until a firm set of regulatory practices are put into place (which will never happen) it will remain objective.
It is your judgement, (the collector) to buy the item of interest and not it's holder.
While I am an advocate of TPG and own many graded notes, I still try to be objective when I buy a note valued at several thousands of dollars.
Talk to the Dealer you are working with and seek out his information on his return policy before you jump off into this. Are there people out there who would knowingly try to make a buck? You bet cha!!
So proceed with caution Will Robinson, Danger, Danger...

RickieB

 

Hey thanks for all the responses ... and that example of a PMG UNDERGRADED note is great. I've never seen that before.

This whole field of TPG is very confusing to a novice like me.

I wish there was just one TPG company that would give the right answer. But as someone posted ... it's more an art than a science ... and there might not be one right answer.

 

urban, that's the nicest looking 1922 VF i've ever seen ... i can see why you resubmitted it.

curious ... why did you say you prefer PMG's holders? what's different about them?

 

they are more rigid and stiffer then the other 2. CGA's are just flimsy plastic. PCGS arent to bad but i have some that have started to bow. i need to keep them in big books to keep them flat. i have yet to have any PMG holders do that. yes the 35 by PMG is just crazy. if it wasnt for the tear on the right margin and the lack of upper and lower margins that note would be probably 60 or higher :thumb:

 

What do you all think of this. I was blown away. And PMG is widely considered on of the top 3 grading companies!

How do you know PCGS and PMG did not undergrade the note?

There is a fine line between an AU with a very light center bend, and the same note being a 64 with an as-made drying wrinkle or paper wave.

Sometimes it comes down to subjectivity, which is the risk you take having a note graded.

 

Phubanks thanks for the info!!! This is very scary as iam in the process
Of getting a note from PMG cross graded to PCGS but your example is
Unbelievable!!! And there,s noway you can compare a 58 to a 64, I would
Think at a maximum one grade either way but 5? NO CHANCE!!

I find this very disturbing!!

 

Yep this ones needs a little discussion for sure!!

 

And there,s noway you can compare a 58 to a 64,

Then you do not know how to grade. The single difference between these two grades can be a very, very light center bend. Discerning one from the other can be very diffucult, and as I stated before, very subjective.

 

On the Mpc side PMG, Is very conservative now with other notes
Iam not so sure of, But iam sure they use different people for
Each??

 

Youv,e got to be kidding me, Your telling me that someone that does
This for living is going to make that kind of mistake, I would expect
This from a 3rd rate grader but not PMG!!

 

Excuse me! :bigeyes:

 

They all make mistakes. This is why it pays to know how to grade.

 

Who knows what happened. They have tried using that type of marketing for years.
Could not this have happened if you were the conspiracy type

This is just a story and is made up but could be real who knows. And by any of the company's.

1. you are cga or whoever and you want to make your company look like they have a tougher grading then others so you take a CU 64 note out and grade it 58.

2. you then take pictures of that note and pass it to porchemet or coin vault or whoever to then advertise for you and show it deserved a 64 from PMG or whoever.

Boom your company the cga or whoever looks like your a tougher grader and thus better publicty for your company...

So who knows what really happened, by whom and when...

 

mpcusa..

in my post above I mentioned that regulatory status will never be achieved in this hobby. What we have is humans with specific knowledge in different areas of Banknotes. What you get when you pay for a note to be graded is the opinion of several people on that particular item. Just like all of us here, we have differing opinions at times. It is to be expected.

When on the other side of the coin, when a person abuses this and adjusts these so called grades to their advantage knowingly, well that is Fraud.

We will endure the TPG Co's until a defined or regulated set of standards is imposed..this I am afraid can never happen as no one sees something exactly the same as someone else...this is why they imply a general set of guidelines.
everyone makes mistakes..haven't you? I know I have and will make many more before my time on Earth is finished.

I for one believe that mistakes are made by all TPG Co's wether or not they are honest mistakes is the real question!

Regards,

RickieB

 

Well that,s something to think about, Like i said i have a note thats PMG 66EPQ
And hoping for PCGS 66PPQ When i send it in, I will definitley post the results
This note has good centering so i wouldnt think it would even be a candidate
for a 65, Will see!!