Currency Grading: PMG Expands “EPQ” Designation to Notes Graded 25 and Above
Paper Money Guaranty® (PMG®) has announced that starting February 1, 2014, all notes graded Very Fine 25 and above will be considered for its desirable “Exceptional Paper Quality” (EPQ) designation. PMG assigns the EPQ designation to notes that are fully original with no evidence of physical, chemical or material enhancements.
To determine whether a note qualifies as EPQ, PMG graders will thoroughly examine the embossing, ink and overall integrity of the note to confirm that it is original and unrestored. Notes with normal wear and tear are still eligible for the EPQ designation provided they meet PMG’s originality requirements. Previously, notes needed to be graded Very Fine 30 or higher to receive the EPQ designation, except for a few select instances when a Very Fine 25 note was described as EPQ.
“PMG made the decision to expand our popular EPQ designation to notes graded Very Fine 25 and above after consulting with a number of collectors and dealers,” says Bruce Thornton, PMG Finalizer. “There is significant demand within the dynamic paper money market for greater recognition of lower grade notes that are original and unrestored.”
PMG graders evaluate notes for EPQ as part of the normal grading process. Submissions of uncertified notes can be sent under any grading tier and will be evaluated for EPQ.
Notes graded prior to February 1, 2014 may be resubmitted to PMG for evaluation for the EPQ designation. For notes already certified by PMG, the EPQ review fee is $15 for notes valued under $3,000, $30 for notes valued $3,000 to $10,000, and the regular grading fee for notes valued above $10,000. To submit PMG-certified notes for reconsideration for the EPQ designation, write “Designation Review” at the top of the PMG Submission Form.
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