About third-party authentication, grading and certification
Case Antiques, Inc. Auctions & Appraisals utilizes specialty grading services when preparing to auction high-value currency, coins, and gemstones. We are proud members of PMG (Paper Money Guaranty), PCGS (Professional Coin Grading Service), and GIA (Gemological Institute Of America) among others. These professional agencies have experts that review authenticity as well as condition to provide a grade (rating) for the item. In addition to grading an item, they offer services to secure the item in tamper-proof holders that include identification and grading information or in the case of gemstones, to provide an identifying serial number along with paperwork that includes identification and grading information. These services help a buyer understand details about the item in order to value it in the marketplace.
For this particular currency and decorative arts auction, we have several paper currency lots that have been graded by PMG.
About Paper Money Guarantee (PMG)
Both coins and banknotes are graded using a 70 point system modeled from The Sheldon scale. This grading system was originally created by collector Dr. William Sheldon as a method for grading early American large cents. Dr. Sheldon’s grading scale was later adapted by the American Numismatic Association in the 1970s for use in grading all US coins. As early American banknotes and world paper money began to enter the numismatic marketplace, the Sheldon scale was again adapted for use in grading paper money.
Like fine art, antiques and antiquities, condition can determine the value of numismatic material. There is one notable difference however when it comes to the grading of coins and banknotes. In some cases, a graded banknote with the point number on the lower end of the 70 point scale may actually be a very rare and desirable note simply because few notes are known in any higher grade. There are a number of rarities in this particular sale that would fall under that category. Additionally, whenever there are factors in assessing the condition of a banknote that would make it difficult for the average collector to determine its grade, third party grading reduces uncertainty in determining condition, thus ensuring the collector or dealer can formulate a better idea of value and can bid/buy appropriately.
Case Antiques, Inc. Auctions & Appraisals is proud to have Paper Money Guarantee as our preferred grading service for many of the banknotes in the James A. Newman collection. PMG is the world’s largest fully independent third-party paper money grading service with more than 2 million notes certified. All PMG graded notes are backed by the comprehensive PMG guarantee of grade and authenticity.
More about PMG can be found here – http://pmgnotes.com
The Friedberg Paper Money Numbering System
In 1953, Robert Friedberg (1912-1963) published “Paper Money of the United States.” In this book, Mr. Friedberg had devised a numbering system to organize all types of U.S. banknotes that quickly became widely accepted among collectors and dealers. His reference book has been updated through the years by he and his family (sons Arthur and Ira) and continues to be considered the international standard for U.S. paper money identification.
It is important to note that the Friedberg Numbering System is not a grading scale, but is strictly for identifying and cataloging. Assigning a Friedberg Number is similar to assigning a UPC or SKU to paper money. Grading is done by independent companies such as Paper Money Guaranty (PMG) and Professional Currency Grading Service (PCGS). Although Friedberg’s reference book does list market values for some notes, they are generally only valid for the time period of that particular publication. Today, more accurate valuations can be found on Websites.
The most important aspect of the Friedberg Numbering System is identification verification for dealers and collectors. By providing much faster identification, dealers and collectors can spend more time determining value and less time studying long text descriptions and photographs for clues to identification.
Banknotes from the collection of the late James A. Newman (1892-1964).
James A. Newman (Nashville, TN, 1892-1964) earned a law degree from Cumberland University and served in World War One, where he achieved the rank of Captain. After the war, he returned to Nashville where he began a distinguished legal career and won election to the state Senate in 1938. His currency collection has remained intact and in his family’s possession from the time of his death in 1964.
This is one of the finest collections of Banknotes from a Tennessee collector to be offered at auction. Among the collection are some banknotes that are truly special including Lot 90: Rare 1902 $100 First National Bank of Nashville, Lot 98: 1882 $5 First National Bank, Salinas, CA Note, and Lot 61: 1905 US $20 “Technicolor” Gold Certificate.