PMG grades 2.5 million notes

Paper Money Guaranty (PMG), the world’s largest third-party grading service for paper money, recently announced it has become the first third-party grading service to certify 2.5 million banknotes.

Founded in 2005, PMG rose to the position of world’s largest third-party paper money grading service “due to its accuracy, consistency and integrity,” according to a statement released by PMG last week.

“We are honored by the trust that collectors and dealers around the world have placed in our services,” said PMG CEO Steven R. Eichenbaum. “We will continue to adhere to the principles and practices that have earned us our position in the marketplace.”

‘PMG GUARANTEE’

“Every note that PMG certifies is encapsulated in a transparent, high-quality holder, and is backed by the comprehensive ‘PMG Guarantee,’ which guarantees that the note is genuine and not overgraded.”

PMG has invested millions of dollars to globally expand its expert services, which have elevated the paper money market and accelerated the company’s growth.

“A testament to the speed of PMG’s growth,” according to the press release, is in the numbers: it took 10 years for PMG to reach one million notes graded but less than three years to reach 2.5 million notes graded.

PMG IN CHINA

A particular area of focus for PMG has been China, where it has offered grading services since 2015. Last year marked a major expansion of these services; as a result, more than half of all notes certified by PMG are now Chinese notes.

In the past 13 years, PMG’s expert graders have certified a number of iconic banknotes, including the historic Serial No. 1 1861 $10 “demand note,” which was graded PMG 30 Very Fine EPQ (exceptional paper quality). Another highlight was the extremely rare People’s Republic of China 1951 10,000 yuan (Pick 858Aa), which was graded PMG 50 About Uncirculated.

STRONG REALIZATIONS

Rarities certified by PMG have also achieved strong prices over the years.

In 2014, a U.S. Series 1891 $1,000 silver certificate graded PMG 25 Very Fine, sold in a private sale for $2.6 million USD.

Earlier this month, a U.S. 1882 $1,000 gold certificate (Fr#1218e) graded PMG 30 Very Fine realized $600,000 USD at an auction in Florida.

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