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my corner

1 April 2013 - On Line Auction House  Banknotes Grading

Question - Why would sellers keep asking potential buyers to grade the note from the scans provided and also provide a statement that they are not an expert in grading banknotes?

Well, here are my 2 cents worth.

1) You can't grade a note by simply looking at the scan. No one can do that, not even an expert;

2) Even if you have the note in your hand physically, you may even sometime over looked other minor flaws on the note;

3) If the seller is not an expert in grading, then why listed the item as in un-circulated? Isn't this is misleading in the first place?

4) When you look at some of this listings, you always have a sense of wondering, I mean wondering if the seller was simply just a crook to misled potential buyers;

5) Many banknotes with minor flaws on it and still be able to grade them as in un-circulated provided seller describes the condition accurately. Common flaws are binding marks with crimps, cutting cup mark on the edge of the security thread. Cutting cup mark is the most common type but you will never find this problem on any polymer notes. If you do, then this is definitely made after the note was issued. I would not grade a note as un-circulated if it has teller flick(s) on it;

6) There are some sellers do really grade their stock very well and a credit to these sellers and I do not believe that they are experts in banknotes grading either. You just have to be honest in what you are selling;

7) My own person experience was that I bought a note which was listed as un-circulated but when I received it, it has multiple folds on it. Seller told me that it was un-circulated went posted and suggested that perhaps it was damaged in transit. The note must have folded by itself between delivery and then decided to unfold itself, like stretching it's legs after a long journey. I know that miracles do sometime happened, and this must be one of them - halleluiah, it is a miracle!;

8) And sometime you wondering why buyers post negative feedback on seller's listing?;

9) Checking a note to see if they are in un-circulated condition or not, is just a very simple task, but that would be my next topic.

10) If you are a buyer, perhaps you too should expect some minor flaws of a un-circulated note too. Getting a banknote in gem un-circulated condition is not always possible, and I believe this can only be possible on polymer notes.

Good luck to you all.


2 comments:

Kelvin said...

Point 5 is good. Some swappers said it is UNC with a teller flick. I never agreed with that. this is the problem caused by mishandling after leaving the printing plant. SO it is aunc at most.

me said...

Hi Kelvin,

Thanks for your comment. I agree with you on that. I would never consider any paper banknotes which have teller flick as uncirculated. However you will find some dealers still listing them as UNC but with teller flick comment next to it.

BTW, do you have your own site that I can view and admire your collections? Thanks

Cheers