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QUERY: BANKNOTE GRADING, STAMPS AND OVERSTAMPS

The E-Sylum (2/12/2017)


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On a related topic, Kavan Ratnatunga writes:

I assume if a laminated currency note was sent for grading it will be returned as unable to grade as mutilated. But I was amazed to find recently on sale on eBay attached PMG 64 certified US$2 note which had a UN and a US postage stamp affixed with ink cancellations.

I don't understand the grading logic - isn't this also a mutilated currency note? The question I have is how a mutilated currency note can be Uncirculated.

PMG64_LKUN_f

PMG64_US_s PMG64_LKUN_s

Well, a grading service will grade almost anything you pay them to - witness the recent trend to certify the WORST examples of various coins. But in this case, few collectors would consider this a mutilated note. These postal cancellations aren't everyone's cup of tea, but they are collectible. And just as with coins, condition is based on the item itself and any visible wear or damage - actual prior handling is irrelevant if there is no physical evidence of it. -Editor

Kavan adds:

I have even found red faded on front maybe washed clearly dirty and VF condition at back that have been certified as PMG AU50. it seems grading is just a commercial enterprise not supporting numismatics but auctions to the gullible.

1946_kgvi_faded_AU50_f 1946_kgvi_faded_AU50_b

The phrase Caveat Emptor is just as valid today as it was when it was coined. -Editor
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