Paper Money Guaranty® (PMG®) was founded in 2005 as a fully independent third-party paper money
grading service.
With an unparalleled commitment to accuracy, consistency and integrity, PMG is the world's
largest third-party paper money grading service with more than 9,000,000 notes certified. Every
note that PMG grades is backed by the comprehensive PMG guarantee of grade and authenticity,
which gives buyers and sellers greater confidence.
The American Numismatic Association (ANA), the only numismatic organization chartered by the US
Congress, and the Professional Numismatists Guild (PNG) have both named PMG their official paper
money grading service.
The PMG Grading Scale
70 Gem Unc 70 EPQ
The highest grade assigned. Notes must have no evidence of handling
visible at
5x magnification. The margins and registration must appear centered to the unaided eye.
Notes must qualify for the PMG Star Designation to be
graded 70.
Superb Gem Unc 69 EPQ
This note is nearly visually indistinguishable from a 70 but the margins
and
registration may appear slightly off center. There is no evidence of handling visible to
the
unaided eye.
Superb Gem Unc 68 EPQ
The margins and registration are slightly off center. There may be very
minor
handling.
Superb Gem Unc 67 EPQ
A note with above-average margins and registration. There may be minor
handling.
Gem Uncirculated 66 EPQ
There may be slightly more handling than a 67 EPQ note. The centering must
be
above average.
Gem Uncirculated 65 EPQ
The note may have one or two minor distractions as a result of minor
handling.
The centering must be above average.
Choice Uncirculated 64
The centering is off on one or two sides. Some handling may be evident but
there must be no folds in the design.
Choice Uncirculated 63
The centering is imperfect and the design may be flat. There may be
several
flaws but there will be no folds.
Uncirculated 62
The note is strictly uncirculated but may have minor-to-moderate handling
and/or corner tip issues. There will be no folds, however. The margins may touch or come
into the design.
Uncirculated 61
The note is poorly centered and the margins come into the design. There
may be
counting marks, smudges or other signs of handling. There will be no folds through the
design.
Uncirculated 60
A note with problems that may include toned paper, a small stain or
fading.
There will be handling issues but there will be no folds through the design.
Choice About Unc 58
Often a note with a single fold that crosses the design.
About Uncirculated 55
This grade is commonly assigned to a note that has one fold or two to
three
corner folds through the design.
About Uncirculated 53
A note with two vertical folds or a single horizontal fold. May also have
signs of handling.
About Uncirculated 50
The note has two heavier folds or light horizontal and vertical folds. The
handling can be significant.
Choice Extremely Fine 45
A note with two to three heavy folds, one of which may be horizontal.
Extremely Fine 40
There are three or more folds, one of which may be horizontal.
Choice Very Fine 35
For years dealers and collectors called this grade “VF-XF.” This note
looks
Extremely Fine, but it will have four to seven light folds.
Very Fine 30
This note will be lightly circulated and may have light soiling. There
will
typically be seven to ten folds.
Very Fine 25
A note that shows modest evidence of circulation as well as more folds
and/or
soiling than a note graded 30.
Very Fine 20
The note is moderately circulated with numerous folds, mild soiling. There
are
no serious detractions but there may be minor defects.
Choice Fine 15
This note may look like a Very Fine note, but upon closer examination it
is
found to have too many folds or too much circulation to warrant a Very Fine grade.
Fine 12
The evidence of circulation is considerable with rounded corners, margin
splits and other issues. The note must be whole with solid paper.
Very Good 10
A solid, whole note with lots of circulation. The note is too limp and has
a
number of minor problems.
Very Good 8
The note is heavily circulated but is intact. Some small pieces may be
missing. Soiling, light stains or splits are common for this grade. The note is limp.
Good 6
The note is very worn with serious splits, fraying of the margins and
damage.
Good 4
A very heavily circulated note with numerous problems. It is totally limp
with
impaired visual appeal. Notes in this grade are commonly seen with pieces missing.
Grades under 4 Good are generally not collectible unless the note is rare. Most notes at
these
grade levels are “Net” graded due to major problems.
PMG Designations
In addition to the 70-point numerical grading scale, PMG uses several designations to give an
additional description to select notes. These designations are Exceptional Paper Quality
(EPQ), the PMG Star Designation and NET.
EPQ
An Exceptional Paper Quality (EPQ) note is, in the opinion of PMG graders,
completely original. EPQ notes will not have been physically, chemically, or materially
processed to give the appearance of a higher grade. Notes exhibiting normal
wear-and-tear for their grade are eligible. All notes graded Very Fine 20 and higher
will be evaluated for the EPQ designation. Notes must qualify for the EPQ designation to
grade Gem Uncirculated 65 and higher. For additional details,
click here.
PMG Star Designation®
PMG assigns the PMG Star Designation to
notes with exceptional eye appeal for their assigned grade.
While eye appeal is
one of the most subjective characteristics of notes, there are general standards which
numismatists typically use to define exceptional eye appeal. To receive a from PMG, notes must exhibit exceptionally strong plate
and / or overprint embossing, vibrant ink color, and pristine paper quality exceeding
the well-established standards used to determine the Exceptional Paper Quality (EPQ)
Designation.
All US and world notes are automatically evaluated for the
distinction of the PMG Star Designation. Notes that
do not qualify for the EPQ Designation will be disqualified from receiving the Star
Designation.
Notes graded PMG Gem Uncirculated 70 must also qualify for the PMG
Star and EPQ Designations.
NET
The NET designation indicates a note that has problems that are more
severe than can be reflected by the note’s assigned numeric grade. If a note receives
the NET designation, the severe problem or problems will be listed. The grade portion of
the PMG Guarantee does not apply to Notes given a NET designation by PMG. Notes with the
NET designation are guaranteed to be genuine only.
