..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 un-circulated? Isn't this 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 the seller describes the condition accurately. Common flaws are binding marks with crimps, cutting cup marks on the edge of the security thread. Cutting cup marks 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 who 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 personal experience was that I bought a note which was listed as un-circulated but when I received it, it had 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 - hallelujah, 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 uncirculated 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 an uncirculated note too. Getting a banknote in gem uncirculated condition is not always possible, and I believe this can only be possible on polymer notes.

Good luck to you all.