PMG Journals

 

ADDING - ONES in FEBRUARY 2019 - THIS YEAR OUTLOOK IS ON THE SMALL SIZE NOTES SETS TO FILL IN THE OPEN SLOTS

The first will be the updating of the existing Five Dollars Small Size Notes sets to fill in the open slots and the addition of the 2017 series notes. The One and Five Dollars notes, along with the addition of 2017 series of $10 and $20 notes. The plan is to complete all of the remaining twenty nine Back Plate Error and Mule notes for the One Dollar FRN District Master set by the end of this year. This will be part of 46 note slots needed to complete the “$1 FRN District Master Set” for all the open slots. I have the SSFRN Five Dollars note sets schedule this year with 35 notes for one of the bulk submittal. Over last year (2018) a total of 237 notes were sent in for grading by PMG and added to the sets. Also this year will be the updating and adding more “Large Size Notes” this will expand the existing sets. Also updating all of the One Dollar sets with addition or up grading with higher graded notes. Also the addition of more Red and Silver Certificate notes.     As part of this expansion I hope to see the BEP SHEET NOTES added to the Registry this would fill in and complete all of the sets for the One, Five, Ten and Twenty Dollars notes.  

STEVE R

STEVE R

02/09/2019

Picking out the Alternate Anniversary Present

Since making the decision to return that ungraded 20 Trillion note my wife and I had said we’d sit down together once we got the refund and pick out what we were going to get instead. We got the refund on Tuesday 01/29. With the nature of being parents being what it is, we didn’t get to sit down together until shortly before bedtime on Friday 2/1, after the Ben was already in bed to pick out the new notes / purchase. I’d been looking at notes / options online for about a week at this point, so I was able to pull up about 11 options I’d been considering, and we talked about them together. I talked to my wife about each one and she even provided input on which ones we should chose based on which ones she thought were the prettiest. One option had been getting the 50 Billion note, graded by PMG, which would have completed my “Billions Series” set now that I Have the 20 Billion note. That note was being offered for $60 by the merchant so it would have pretty much been a direct item for item swap. My wife was surprised that I wasn’t leaning in that direction just to complete the Billions set, but, for the money, they had other things that were cheaper, looked better, and would contribute more to my overall set right now. I’m not ruling out getting the 50 Billion note later but it’s always been a harder sell for me. I acquired all of the rest of these notes mostly for $20-30. If I actually got that for the price they list it for it’d easily be the most expensive note in the set. Instead, they had several other notes that were graded 66 EPQ or 67 EPQ for S15-16 each. I could get four of those for about the same price as the price of that 50 Billion note and I thought that path could add a lot more to my set overall. So what did I go with? 1: P-12, the 2003, first dollar, 1,000-dollar note 2: P-8, the 1994, first dollar, 50-dollar note 3. P-33, the 1 cent, 2nd dollar note 4. P-71, 3rd dollar, 1000-dollar note Why these four? I was really wanting to get the 1,000-dollar first dollar note. It looks great, it’s the last and highest denomination first dollar issue before they started making the emergency checks. I see it as representing the beginning of the end for the currency. My wife and I also agree that the first dollar notes, in contrast to many of the later issues, are actually quite pretty and intricate in their design. I wasn’t initially going to get the 50-dollar note too, but, again, they’re some of the most attractive notes of the entire series and I do like the look of it. This may or may not lead to trying to get more of the first dollar notes. I wanted the 1 cent note because 1) it would be the first 2nd dollar note I’ve purchased, and 2) it’s just such an odd note. Much like the 100 Trillion note, it’s one of those crazy, freakish things that only happens in a hyperinflation situation. You would never normally see a 1 cent note. This note shows that it’s not always a story of big numbers on notes. There’s a broader selection of oddities and aberrations that occur. The 1,000 -dollar 3rd dollar note (P-71_ was selected because I’d been wanting to get another 3rd dollar note that extended my set back into the lower denominations of that series. Prior to this my lowest denomination in the 3rd dollar set was the 500,000-dollar note. I’d also considered getting the 20-dollar note from the 3rd dollar series. I’d thought the 20-dollar note (P-68) might be a better choice to continue the “trend” or the denomination choice with the 1983 and 1994 first dollar notes I have. $20 is also a significant / prominent denomination in the US. We went with the 1,000-dollar note because the 20 just doesn’t look as nice. The coloring just isn’t as appealing. I think hands down the most enjoyable part of the whole process was sitting down with Shandy and talking about the notes and the history and what I liked about each one and narrowing down the list of ~11 notes to four and ordering those four. (Yup, I totally paid $15 for a 1 cent bank note, but they’re all demonetized anyway so who even cares about face values anyway at this point?) Two of these notes – these already graded notes – were $15 and two were $16. So, the total purchase was $62 – versus the $60 charged for that ungraded 20 trillion note, which I still and will forever think was a rip-off given that other on eBay are offering those things graded by PMG for $40 in some cases. I think the $40 is still a little steep considering the popularity of these things seems to have waned over time, but it’s a lot more reasonable. In many cases these notes can be had ungraded for a couple of bucks from what I can see. The lowest grading fee tier for world bank notes at PMG right now is about $13-15 dollars depending on what kind of bulk submission you’re doing. So the difference in price on a lot of these is just enough to cover the grading fee, if that, over the cost of an ungraded note. But even then, they don’t sell a lot of them at these prices – I’m guessing because I’m one of the small few that sees value in collecting these things as graded notes (and I’m apparently about the only one that feels like participating in the registry with them). I’m okay with that though. I have very specific reasons for why I want what I want with this set. The notes should be arriving in the mail today. This has re-ignited my interest in the set and so I'm probably going to be putting a little more money and a lot more time into this set / project this year to flush out some things that I feel are gaps in my collection.

Revenant

Revenant

02/07/2019

BABE IN THE WOODS

HELP! HELP!! HELP!!! Hello fellow collectors. I JUST got my first real set of paper money. In fact, I got a few sets. BUT, they are all in CGA holders, and before I go and send them all into PMG for re-holdering and grading, (for which I may need to go back to work to pay for) I need to know how to get the bid and ask for these new adoptees of mine. Can anyone help? Thanks in advance. Capt. Brian To see old comments for this Journal entry, click here. New comments can be added below.

CaptBrian

CaptBrian

10/03/2015

Last Reply:
01/31/2019

Even at Heritage the Scans are ALTERED - Part 1

Heritage Auctions posts scans that are not realistic either!! Heritage says, "The margins are outstandingly large for this type, and the gold inks are as deeply colorful as we have ever seen them. PMG likely saw some very minor flaw with the note out of the holder, but in the holder its obvious original embossing along with its other attributes makes it look like a 65 EPQ to us. From The Yuri Solovey Collection" Now look at their scan compared to mine once I received the note. When will this monkey business stop!!?? I expect it from Ebay trolls, but a fine Auction House?? To see old comments for this Journal entry, click here. New comments can be added below.

Sheik Sheck

Sheik Sheck

01/25/2017

Last Reply:
01/31/2019

 

Ch #6301

My beautiful Ch #6301's. Just tell me I have a reason to be in love with this Charter.     

Sheik Sheck

Sheik Sheck

11/16/2018

Last Reply:
01/26/2019

 

ADDING - ONES in JANUARY 2019 - THE REGISTRY UPDATED THE ONE DOLLAR SSFRN SETS FOR 2017, MULES, BACK PLATE ERROR NOTES.

Over 2019 you will see this set type “One Dollar Federal Reserve Notes – District Set with Stars and Varieties” change as more new notes are added and with the correction of Mule and Back Plate Error, also the addition of the sheet notes and other BEP issue items. This year, I hope to see the scoring system be completed to remove all of the dual scoring system. Over the last year 2018, with all the changes added up to more than 15 note slots to the sets. You will also see the addition of more 2017 series notes to fill in the open slots as the notes are graded by PMG.  One of the sheet note that need to be added is the 2003 Fr #1928-J sheet note serial number J99910479A in a PMG-67E this should be listed a RARE note with only 14 graded to date and only 471,000 printed with the serial number range 99500801 thru 99971801.

STEVE R

STEVE R

01/01/2019

Oswego County, NY Nationals

By accident, I've become of fan of these small towns along I-81! Just added an 1882 Value Back $20 from Mexico, NY. It joins my Albion, NY notes. Albion is England and Mexico is typically known for its beaches and sun, not so much for its lakes. Look for these town names when you are on I-81, but don't blink! Notes are in my Signature set of Nationals along with a few better PA notes. I'd love to add other Mexico NY (and other states) nationals to my collection. Happy Collecting! To see old comments for this Journal entry, click here. New comments can be added below.

ddr70

ddr70

09/23/2015

Last Reply:
12/24/2018

 

A PMG Grading Kanban

In Japanese, a Kanban (看板)  is a signboard or billboard, but in lean manufacturing a Kanban is a scheduling system.  Submissions at PMG start out in a Received Status.  Then your notes move into a dreaded state, "scheduled for grading"; a purgatory for notes. You you eagerly await a status of Quality Control--if you're like me, you start checking every day after about 30 days.  Where are my notes submitted last October?  Purgatory.  Quality control means the notes made it to the end of the queue and were graded by PMG.  In my experience, notes move fairly quickly to Finalized/Imaged/Shipped and you can actually see your grades posted.  So what's the point of a Kanban? On the production floor workers and managers can see how progress is going.  And if a customer shows up on the production line, they have an idea of when they might receive product.  At a show, a customer submitting notes has an idea when the notes will return graded.  I think we need a Kanban for grading!  The metric could be by tier (economy is my tier), 'how long (on average of course) is it taking from Scheduled for Grading to Quality Control.'  Then, let me get a bit crazy here, send me an email (or let me subscribe to receive an email) so I know when the note emerges from scheduled for grading.  (Note:  I did receive an email when I was charged back in October which is good to know.)  If there was a Kanban, I'd have an idea whether or not I might see my notes before the new year.  Speaking of the new year, here's what the Union NB of New Castle, PA was doing in 1906--getting it's charter from the Registry of the Treasury.  You can just make out the date above the president's signature (Dec. 31, 1906).  My $20 is currently in purgatory and not in my Large Type Nationals series 1902 set :-(.  You can see all the sets competing in Lg Type Nat'ls of 1902 here:  https://notes.www.collectors-society.com/registry/notes/public_sets.aspx?CategoryID=950&SetTypeID=3316  (my PA notes are #7)...  Happy holidays :-)!

ddr70

ddr70

12/08/2018

Last Reply:
12/14/2018

Collage from Los Angeles Ch # 2491

I can't find the $5 note!?!? Other than that, this is an awesome collection I put together. They are all graded but finding notes with the same signatures for all the denominations was not easy. I really enjoy putting sets like this together. Comments would be nice!!

Sheik Sheck

Sheik Sheck

08/14/2018

Last Reply:
12/08/2018

 

ADDING – ONES in NOVEMBER 2018 - THE REGISTRY UPDATED THE ONE DOLLAR SSFRN SETS TO ADD MORE BACK PLATE ERROR and MULE NOTES

The One dollar Federal Reserve Note – District Set with Stars and Varieties set type, was just updated to add the missing mule (m) and back plate error (bpe) notes to the set. The last change added more note slots count and was change to 704 within the set. As more information and research work is done, the number of notes within this set will be added. Also some of the mule note are BEP sheet note and would need to be added as part of this set and are some of rarest. You will find most of information in Robert Azpiazu book, “Collector’s Guide to Modern Federal Reserve Notes – Series 1963 thru 2009” from Whitman Publishing, it’s also list all of series. This would help you the collector with notes that may not be listed within sets and help you fill in missing notes with in your collection. The SSFRN One Dollar set is one that will change with each new series. As I noted before this is like a penny collection that will change with time or a living set and sum of the later notes can be pick up at your local bank.

STEVE R

STEVE R

11/19/2018

 

Salem, OH Charter 43 sequential serial numbers

I've managed to reunite an interesting pair of $20 Plain Backs from Salem, OH, Charter 43.  Both were acquired in Baltimore from different dealers about 6 months apart.  So far these are the only two PBs with Lyons | Roberts signature combinations or Fr. 650 and dated Apr. 11, 1902 just like charter 43 date backs.  Other $20 PBs that I can find have Speelman | White signatures or Fr. 635 and are dated Apr 10, 1922 (note:  Track and Price doesn't identify the Fr. #).  The Serial numbers are 5226/V967960B (back plate 325) and 5227/V967961B (back plate 315).  Both are from A plates as are all $20s on Ch. 43 notes.  Now, why would the back plates differ?  A prior owner submitted these two notes together to PMG.  I like these notes because of the low charter number, interesting Fr. # possibilities (rarities), pretty penned signatures of bank officers W.F. Church and Z.R. Pow, sequential serial numbers (of course) and in the exact same grade of 30EPQ.  Let me know if you owned these before, or if you have any insight into why the back plate numbers would differ.

ddr70

ddr70

10/27/2018

Last Reply:
11/17/2018

 

CH #252

I am trying to complete a set from one national bank set. I chose the First National Bank of Pittsburgh (Ch #252) because I originally bought an ungraded 1902 $5 Plain Back. It graded 35 EPQ and the signature of the bank president Lawrence Saunders is a wonderful signature. Also, this is a common bank with many notes so I thought the chances of getting most of the denominations would be better. It's not as easy as I thought. I rarely see the large denomination notes for sale. If anyone can help, I am BUYING CH #252's. Notice the the cashier was C.C. Taylor on the large notes and is also the same cashier on the small Type 1 notes! C.C must have worked at the bank as a cashier for many years. Anyone else trying to do a collection like this??

Sheik Sheck

Sheik Sheck

11/20/2017

Last Reply:
11/15/2018

Ch # 252 Multiple Signatures for $5 Note

How about FOUR different signature pairs for a single bank. Two of the notes show the cashier presumably promoted to the President. And C.C. Taylor, the cashier quite common on the Ch # 252 notes is President on the 1929 small versions from this Charter. I wish someone could explain this bank's storied signatute lines. Obviously the "FirstSecond NB" merged to become the First NB but the multiple signatures requires some research of which I haven't done yet. 

Sheik Sheck

Sheik Sheck

08/25/2018

Last Reply:
11/10/2018

 

Is this note under-graded?

I sent out my first submission to PMG in March and they just came back.  Of the 7 notes I had graded, 3 had been graded by lesser respected grading companies.  I have no issue with 6 of the grades I received.  One of the regraded notes, however, I feel was significantly under-graded.  I was curious as to your opinions, or that of anyone from PMG that may read this. The grading process as described on the PMG website states that 2 industry professionals grade each note in a submission separately, without knowing what grades the other has assigned each note.  A third professional will be used in the case that the first two do not agree.  After encapsulation, the notes are then reviewed again by an industry professional to make sure the grade assigned is correct for the note, in addition to verifying that the label information is correct and that the holder is free of any issues. I have included front and back images of the 1914 $10 that I feel is under-graded.  I have also included front and back images of an 1899 $2 that was in the same submission and received the same grade from PMG.   At the end I have added front and back photos of my 1914 $20 that is graded 30 by PMG to avoid any cross series misrepresentations.  Note the visible fold lines and rounded corners that are absent from the $10. What do you think? Edit: PMG's response was, "Based on our grading scale, a note that has graded a 30 would be a note that is lightly circulated and may have light soiling.  There will typically be seven to ten folds.  It can sometimes be difficult to see the folds once the note is inside our holder.  Also, if a note has been pressed at all, then the folds may be more difficult to spot as well."  Just by looking at these 3 notes, all graded VF 30 by the same grading company, it is my personal opinion that one of them is clearly not like the others.  And if it were the opinion of the grader's that this note had been pressed, why would they omit any notation to that effect?  That is because PMG's opinion instead is that I should pay shipping, insurance, and grading fees again for them to fix their own obvious mistake. Why won't this company just look at the photos, admit a mistake was made, and offer to rectify the situation?  Why do they despise creating goodwill with their customers?  What do they expect my opinion to others about their services to be in light of this situation, especially when I can show any potential customer these notes and the egregious disparity?  I just don't understand what happened to customer service, nor will I tolerate this extortion attempt.  

Last Reply:
11/02/2018

 

Example of Bad

I did business with the purveyor of these notes. Note the tape as the holder fell apart. Fortunately I don't see many of these holders anymore but it was not a good way to begin collecting, doing business with a person that doesn't care about long term customer relations as opposed to making a quick buck. If you do see these holders, treat them as CGA or ungraded notes as the owner was grading and selling notes at the same time. I still find it hard to believe that ungraded note sellers on Ebay fetch top retail dollar . People just don't understand that large size old notes are not graded for a reason. The note has certainly been inspected  by professionals, probably dozens of times. They are not graded because there is some small flaw that translates into hundreds or even thousands of dollars for high dollar large notes. And folks bid these notes up to full retail based on the sellers description "Strong XF, Choice Unc., check out my 100% feedback"...etc. 

Sheik Sheck

Sheik Sheck

11/22/2017

Last Reply:
10/28/2018

 

ADDING – ONES in OCTOBER 2018 - IS IT’S TIME TO ADD BEP SHEET NOTES TO REGISTRY SETS

At this time the BEP SSFRN sheet notes are not part of the Registry sets of notes and are not parts of the scoring system, but the sheet notes are listed in all are part of the some of the existing one dollar sets at this time. I have ask that the BEP sheet notes be added for all sets or as a stand-a-loan sets. All of the information is listed on the US Paper Money Website for $1 thru $100 notes with all the serial number listed. The Registry list Disney Dollars as part of sets, but this is not currency and was shut down by Disney and is only a collector items with full valve as normal currency.     I have two sheet notes on hand, they are 2003 Fr #1928-J with the following serial numbers J99896479A and J99910479A both were graded as PMG-67E and should be listed a RARE note with a high point count, with only 471,000 printed with the serial number range 99500801 thru 99971801. Both notes are listed in the updated population report.

STEVE R

STEVE R

10/14/2018

Last Reply:
10/18/2018

ADDING – ONES in June 2018 - THE BEP CLOSING OUT THE SERIES OF 2013 ONE DOLLAR D AND J STAR NOTES

SSFRN – THEY ARE ONE DOLLARS 2013 D AND J STAR NOTES The last two one dollar star notes to be added to the $1 Federal Reserve Note – District Set with Stars and Varieties, master set are the 2013 D star block with two runs totaling 3,450,000 as a normal run and the 2013 J star block with only 250,000 notes printed making this a rare note. All the information is on uspapermoney.com and in BEP mouthy production data. The note were added to the MASTER ONE DOLLAR SET.

STEVE R

STEVE R

06/20/2018

Last Reply:
06/27/2018

 

ADDING – ONES in May 2018 – CLOSING OUT THE 2013 SERIES NOTES, AN NEW 2017 SERIES

BEP NEW RUNS - ONE thru HUNDRED DOLLARS NOTES with STARS – NO WOMAN ON THE TWENTY DOLLARS BILL The closing out of the 2013 series notes, the first printing were in November 2013, could be change out within the next two years with the changing of the existing Treasurer of the United States or the Secretary of the Treasury, the year could be as soon as 2017 or 2020 with the printing delay with the new series notes. The 2013 notes came in under the presidency of Barack Obama’s under his second term, the newly elected president will have a change of appointing a new Secretary of the Treasury and a Treasurer of the United States, after January of 2017 with him being sworn in as the 45 President of the United State of America. Only after the printing on new notes will see if the change made to 2013 will remain or if some changes are made. The first notes were the 2017 $1 dollar currency printed in 50-subject sheet format, but the other were printed on 32-subject sheet.   Also during the same time the new resign twenty dollars notes was to be printed with Harriet Tubman the first African-American woman on United State currency and would replace President Andrew Jackson on the twenty dollars notes. This would be the first woman in more than a century that will appear on US currency. The new designs was to be unveiled in 2018 and go into circulation shortly after the unveiling of the new twenty small size Federal Reserve note.     The currently announced delay could be a precursor to outright cancelation of the Tubman portrait. With Trump in the Whitehouse we will not see a new twenty in the near future with a women’s right to vote. For more information see David C. Harper in May issue Numismatic News.

STEVE R

STEVE R

05/15/2018

 

ADDING – ONES in MAY 2018 - UPDATING THE SCORING SYSTEM

UPDATING THE SCORING SYSTEM and CORRECTING THE SETS FOR MULES AND BACK PLATE ERROR NOTES   I am very happy to see the Registry adding and updating the scoring system and also being proactive in adding the new series of 2017 notes as the information is issue by BEP and other website for the notes that have been printed. In this way a collector can see what notes that have been printed an issue by BEP and can picked up a new note as a bank note fine. They also have update the sets with mules (m) and back plate error (bpe) notes for the one dollar sets with stars and varieties and checking with the notes that are existing in the population report. Over the last year they have corrected and changes the scoring for more than hundreds notes and sets. Also at this time you can see the changes made to the scoring over the past six months. They have also added new 2017 sets for the one and twenty dollars notes along with star notes for that series.       The next is for the Registry to correct and update the existing remaining scoring system that stall have some of notes with duel or two difference scores or points for the same note, this was part of the old scoring system stall exist within the system today. This may take some time for the Registry to correct and remove all of the dual scoring.    

STEVE R

STEVE R

04/30/2018