eBay Seller cutting out PMG notes and inflating grades
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Just a warning to large size note collectors: Be very careful when buying raw notes as they may not be what they seem. PMG has a very useful tool which can be used to search for a note by serial number.... USE IT.

 

There's an 1896 Educational $5 listed on eBay right now as AU. Looks AU in the images, but it was cut out of a PMG VF-30 holder. Someone may get hosed on this one. Don't let it be you.

 

Not an isolated incident either. I checked one more he has listed (1899 $5 Chief) which was in a PMG Net 25 holder (retouched). Note is now raw with no problems mentioned.

 

I'm sure there are others but haven't gone through all his listings.

 

PS: if you don't have the Gengerke census of large size notes... buy one. Consider it cheap insurance against this sort of thing.

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