NGC's New Brother Company Paper Money Guaranty LLC

[gmarguli]

This was in the Numasmatic News enewsletter.

 

From what I have heard, the current paper money grading companies have little respect. Hopefully, this new company will gain the respect of the paper money collecting community.

 

 

PARENT FIRM OF NGC EXPANDS TO PAPER GRADING

 

A new paper money grading and authentication service plans to begin operating in February 2004 (likely a mistake, 2005).

 

The new firm is called Paper Money Guaranty LLC. It joins Numismatic Guaranty Corporation, Comic Guaranty LLC and Numismatic Conservation Services as a division of The Certified Collectibles Group.

 

PMG has hired longtime currency dealer Glen Jorde as its grading finalizer. Jorde is proprietor of Lake Region Coin and Currency Exchange, of Devils Lake, N.D., and is a past president and current board member of the Professional Currency Dealers Association.

 

Like all PMG employees, he will be prohibited from buying and selling paper currency once he begins working for the firm.

 

"The creation of a truly professional and impartial paper money grading and encapsulation service is a dream I've shared with the people at CCG for some time," Jorde said. "The combination of knowledgeable people and the finest facility is something that only CCG could put together, and I’m delighted to be a part of it."

 

PMG will use a 70-point grading scale. PMG holders will consist entirely of archival-quality materials. Initially, PMG will accept submissions of only large-size and small-size U.S. federal currency.

[GP_]

cool! Good Luck PMG

[truthteller]

"PMG will use a 70-point grading scale."

 

 

 

If they do this, they will fail. In the curency collecting community, a 70 point scale is considered a perverted reach from the coin sheldon scale and is not accepted widely. Many major currency auction houses will not accept returns for 'slabbed' currency. Bad decision on NGC's part.

 

 

TRUTH