The Shiek

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Example of Bad

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Sheik Sheck

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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. 

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I have not heard of CGC before, are they even in business?  The holder does not look like decent quality and the grade looks a little high.  I may be off, but it looks more like a 62 or 60.  With regards to CGA, they were bought out by John Spinelli in 2009 and he has really turned that place around.  However, a lot of people got burned by them prior to 2009 and thus, there reputation is still suffering.  The "Diamond" and "Star" that I own appear to be graded fairly, but they have become conservative and very cautious with their grading.  I used to use PCGS for most of my grading, but I am moving over to PMG because PCGS takes way too long to grade notes, i.e. 4 to 5 months.  CGA is quick, 14 to 21 days, but the notes cannot be sold on eBay, and PMG takes only 45 days or so to grade.  CGA is great for lower cost and foreign notes though. 

Kevin

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