Are There Authoritative, Third-Party Currency Graders?
There are grading services for coins that dealers and the numismatic world trust. It is essential for buyers and sellers to agree on both the condition as well as the selling price of a coin. Grading services help facilitate that.
Is there an equivalent for paper currency?
While there are many currency grading services, the two pre-eminent organizations in the United States are the Professional Currency Grading Service (PCGS) and the Paper Money Guaranty (PMG).
Are the Grades for Paper Currency Similar to the Sheldon Scale?
U.S. banknotes are graded On a system like the 70-point Sheldon scale used for grading coins. The grades are determined by factors like brightness, depth of color, crispness, and more.
Like coin grading, there are designations in addition to the numerical scale to provide detailed context about what makes a banknote unique and valuable. PMG uses Exceptional Paper Quality and Star designations, while PCGS uses Premium Paper Quality and Details designations.
How Do I Get My U.S. Banknotes Graded?
Getting your banknotes graded is also like getting coins graded. Each organization has its standards for accepting currency and its pricing structure.
To have your banknotes graded by PCGS, you will need a membership, which costs as little as $69 and may include several free submissions if you are a new member.
PMG memberships start at $25 per year for an Associate membership. These include direct submission privileges and 10% off select add-on grading services but not the grading costs. A Premium membership is $149 per year and includes a $150 grading credit.
Turnaround times, special designations, and other add-ons carry their own cost with each organization.
