Paper Money Guaranty® (PMG®) announced that it has now graded 5 million notes, becoming the first third-party grading service to achieve this important industry milestone.
PMG’s achievement is even more impressive in that it comes at a time when the world faces unprecedented challenges. Recognizing that its certification services are essential to the global numismatic marketplace, PMG proactively developed and instituted enhanced health and safety procedures to ensure the continuity of its operations. As a result, all of PMG’s locations have remained open and fully operational.
Expert and impartial certification from PMG has made it possible for banknotes to be bought and sold online, even sight-unseen, from the safety and comfort of one’s home. During the current coronavirus crisis, PMG certification has provided vital confidence and liquidity that have enabled the banknote market to continue to function.
On March 19 2020, for example, Stack’s Bowers Galleries sold the unparalleled D. Brent Pogue US currency collection, in which 224 PMG-certified notes realized more than $9 million. An 1863 $100 “Spread Eagle” Legal Tender note graded PMG 65 Gem Uncirculated EPQ topped the sale at $432,000, and 26 other PMG-certified notes achieved prices of at least $100,000.
In the April 2020 Central States auctions of Heritage Auctions, which were held entirely online and over the phone, more than 3,000 PMG-certified banknotes were sold, including two 1934-dated rarities that achieved six-figure prices.
The strong results for PMG-certified notes at recent auctions are a testament to the trust that collectors and dealers have in PMG’s certification and the resilience of the paper money market.
PMG, which celebrates its 15th anniversary in 2020, stands out among its competitors for its accuracy, consistency, impartiality and unwavering commitment to the banknote market. As a result, PMG has graded far more notes than all of its competitors combined.
We are honored that so many collectors and dealers have placed their trust in PMG’s certification services over the last 15 years,” said PMG Chairman Mark Salzberg. “Our continued emphasis on expertise, impartiality and innovation will keep PMG at the forefront of numismatics and paper money certification.”
The 5 million notes that PMG has certified include many of the world’s greatest rarities. Among them are three iconic US notes that were sold at auction for a combined $5 million:
- an 1869 $500 “Rainbow” Legal Tender Note, attributed as Friedberg-184 and graded PMG 55 EPQ About Uncirculated;
- an 1869 $1,000 “Rainbow” Legal Tender Note, attributed as Friedberg-186f and graded PMG 53 About Uncirculated; and,
- an 1891 $1,000 “Marcy” Silver Certificate, attributed as Friedberg-346e and graded PMG 30 Very Fine.
Chinese notes constitute about half of the total notes certified by PMG, and they also represent a number of important rarities. Among them are multiple examples of the 1951 10,000 Yuan, one of the most treasured notes in all of Chinese numismatics, and two examples of a very rare China 1975 2 Yuan Proof featuring blue-collar hero Wang Jinxi.
PMG remains the industry leader in part through its constant innovation. PMG recently announced its fourth-generation holder, which features a new high-security hologram with an improved design that boasts a dozen overt and covert security features. PMG also released an upgraded label design that has a more modern look with additional space for more detailed note descriptions.
PMG also serves more collectors and dealers through its comprehensive, worldwide network. A truly global certification service, PMG has five offices, 21 Official Submission Centers and thousands of Authorized Dealers. It also serves collectors and dealers online with the most comprehensive suite of free educational resources.
To learn more about the topic, visit the PMG website.
