PMG Journals

 

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

 

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:
11/26/2018

 

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

 

ADDING – ONES in April 2018 - ADDING NEW 2013 FIVE DOLLARS NOTES

THE BUREAU OF ENGRAVING AND PRINTING – ADD MORE THE NEW 2013 FIVE DOLLARS STAR NOTES.       SSFRN – THIS UPDATE THE FIVE DOLLARS 2013 series B, F AND H STAR NOTES   The last update on uspapermoney.info show the adding of the following new Five Dollars star notes MB/star, MF/star and MH/star all form Eastern Facility (DC) and one MK/star from the Western Facility (FW). The star note complete the DC taking the series to 17 notes and one note from FW facility.   Below are the photo of new B and F stars notes, the notes are schedule for grading by PMG.

STEVE R

STEVE R

04/16/2018

 

ADDING - ONES in FEBRUARY 2018 - NEW 2017 ONE DOLLAR SHEET NOTE

THE BUREAU OF ENGRAVING AND PRINTING – NEW SERIES OF 2017 SHEET NOTES LISTED IN BEP STORE        SSFRN – ONE DOLLAR 2017 F/A BLOCK SHEET NOTE   The notes were printed and is not part of standard runs for this 2017 issue by the eastern currency facility or Washington D/C an the same serial number block F/A of notes with serial F35315001A thru F35400000A, the photo below is one of the note cut from a sheet of five notes. The note below will be sent in to PMG for grading within week, along with the other nine. Updated on March 24, 2018, the first four notes came back graded from PMG-64 thru PMG-67 EPQ.    I have added a Signature Sets to cover the one dollar sheet notes, as the notes are added a photo and description will be added, at this time I have 20 sheet notes set for grading. The 2017 note photo below is one in for grading at this time. New update for both the BEP and USpapermoney.info in March 2018. They also listed the new addition of B/A, F/A, F/B, F/C, block from the Washington D/C and the first Fort Worth series G/A, G/* and the first L/A and L/B blocks one dollar block.   The sheet note were part of a normal run, the first one of the F/A block starting with F35315001A thru F35400000A and are listed in the 2017 notes.        

STEVE R

STEVE R

02/09/2018

 

ADDING - ONES in FEBRUARY 2018 - NEW 2017 $20 NOTES

SSFRN – THE FIRST TWENTY DOLLARS 2017 B-STAR NOTE ISSUE   In checking the monthly production report, BEP in December 2017 show the first printing for the 2017S series of notes and is listed for fiscal year 2018 and fiscal month December 2017. A small run of 320,000 notes from 10,000 sheets. The notes are listed as New York $20.00 2017S NB/* star and issue by the eastern currency facility or Washington D/C. This will make this run of twenty dollars notes a “RARE” issue with this low printing an also the first one printed. I also check the BEP store to see if the show up as sale item, the BEP store was not updated. The serial number for this twenty dollars note starting with NB00000001* thru NB00320000*.   Also in checking uspapermoney.info new notes are listed, with the last update 2/2/18. I will update this journal as more information is released. Both the Washington DC and Forth Worth have been update, that also added $5 five dollars notes.  

STEVE R

STEVE R

02/04/2018

 

ADDING - ONES in DECEMBER 2017 - NEW 2017 ONE DOLLAR NOTES

THE BUREAU OF ENGRAVING AND PRINTING – NEW SERIES OF 2017 NOTES WERE LISTED IN OCTOBER CURRENCY REPORT      SSFRN – THE FIRST IS A ONE DOLLARS 2017 F-STAR NOTE   In checking the monthly production report that BEP for October 2017 show the first printing for the 2017S series of notes and is listed for fiscal year 2018 and fiscal month October 2017. A small run of 250,000 notes from 5000 sheet with the serial F00000001* thru F00250000*. The note is listed as a Atlanta $1.00 2017S F* star issue by the eastern currency facility or Washington D/C. This will make this note a “RARE” issue with this low printing an also the first one printed. I also check the BEP store to see if they showed up as sale item, the BEP store was not updated. Also not reported is the new F/A block that were also printed but not listed in the October 2017 production report.   Also in checking uspapermoney.info/serials/f2017 new notes are listed, with the last update 10/16/17. I will update and edit this journal as more information is released. On 12/18/17 the BEP production data was added. To see the new 2017 series F/A block go to www "Steven Mnuchin's wife strikes a pose with a sheet of money", the notes with the following serial number "F33922301A" is one of note on this sheet is a part of the BEP sheet note issue.   Update on March 10th - The new series of 2017 notes, BEP updated the production report and added November 2017 notes, the second run of F star with 3,200,000 notes, with  serial F03200001* thru F06400000*. Also the first run F/A block of notes with serial starting at F57600000A thru F96000000A and the second run printing starting at F00000001B thru F19200000B. The sheet notes were the first to be printed starting with F353150001A thru F35400000A. Also the information is also on uspapermoney.info with the last update also dated 3/24/17. The note slot were added to PMG sets for new 2017 series of one dollars series of notes.   Also the BEP have not updated the mouthy population report for the last two mouth for JAN 2017 and FEB 2017 for fiscal year 2018 and uspapermoney.info is also have not been updated, the last update was on 2/2/18 thru December 2017.    BEP Store just issue the new 2017 Uncut Currency Sheet notes on January 30, 2018, all the notes are Fr #3003-F with same series serial number. I have order the notes and will add serial numbers amount and photo at a later update.   The 2017 series sheet notes came in today, February 8, 2018 with the same serial number as the standard run. I could not remove the photo below, so I have add a new journal entry to add the picture of the 2017 new note with Serial number F35397184A.      

STEVE R

STEVE R

12/19/2017

 

1929 Baltimore Small Town Notes

I am a collector of all Baltimore MD small town notes.  With the exception of Charter 1413, I am buying all Charter Baltimore notes.  They should grade VF35 or better.  My only missing note in my collection is Charter 1432 which has 7 total in the inventory and last was in a public aucthion dated 2009.  

TOYSOLDIER2

TOYSOLDIER2

11/25/2017

Last Reply:
11/29/2017

 

1875 NBN Paris, IL Graded

I finally had it graded. I picked the note up for a very nice price ungraded. There are several notes that were preserved with about the same serial number range so the lack of extreme rarity makes these notes of less value. I have seen several of the CH# 1555 in $10 and $20 denominations sold at auction. They are always graded and always seem to be AU or Unc with the EPQ designation. So, as I have posted before, these type of notes are not graded for a reason and here is it this time. When I received the note, it was clearly AU or Unc so I thought it had probably been flattened. This time it did not grade NET but it was commented as "Previously Mounted" I always thought that meant it was in another holder and cut out and sent without the previous holder to another grading service. Matarcat showed a CGA $50 note mounted in a CGA 62....he cut it out sent it to PMG and was delighted it came back as a PMG 63. I wondered why they didn't put "Previously Mounted" on his note. So I called PMG. Maybe I am educating some of you. "Previously Mounted" was detected as remnant of adhesive on the corners which was probably because the note was in a frame or something like that with adhesive tape or something to hang it. I checked the corners before I sent it and I could not see any problems but PMG did. I asked them not to place it but they said they had to. Can anyone see the presence of adhesive on the corners? Anyway it graded out as 62, not EPQ. A mixed blessing. I don't think I lost money but I don't thin it is super valuable like I had hoped for. Moral of story...buy an ungraded note, and you may get lucky and get a fantastic grade making the note worth far more than you paid, but if you buy a relatively rare, expensive, especially old note ungraded, it is probably for a reason. How many experts looked at this note under magnification, saw the remnants of adhesive and balked on purchasing or sending it for grading because they know it was worth more ungraded? On another note, I am so disappointed in this Journal board. I hoped it would be active and teach us all a lot. Instead, I post more than anyone, rarely get a response and when writing, feel like this hobby is so obscure, it's all a waste of time. Anyway, here are the images. 

Sheik Sheck

Sheik Sheck

10/21/2017

Last Reply:
11/05/2017

 

New Note for Collection

This Thomas Flynn Fr. 774 "battleship" note was sold for $6,037.50 in April of 2008. The same note sold for $4,312 in 2014. I just picked it up at auction for $3231.75. This is 46% reduction in 9 years. I wish there would be a really good article on how much the currency market has softened quite a bit. One vendor says the premium for low serial number specimens has dropped out the bottom. Interesting since there are Bison notes and other low serial number notes still going for several hundred thousand dollars up to over a million. It seems one needs to be really careful with the premium on low serial number notes. I never thought it was worth it anyway. I thought it was an interesting and nice feature to have but never bought notes for any serial number feature (low #, ladders, radars etc....) Happy collecting. 

Sheik Sheck

Sheik Sheck

06/24/2017

Last Reply:
09/29/2017