PMG CrossOver Service Introduced
Posted on 3/7/2019
Paper Money Guaranty™ (PMG®), has introduced a CrossOver service for notes that are still encapsulated in PCGS Currency holders. PCGS Currency notes may be submitted for CrossOver to NGC Hong Kong, Ltd. (NGC Hong Kong), PMG's Hong Kong-based affiliate, during one of its Hong Kong on-site grading events.
This CrossOver service allows notes encapsulated by PCGS Currency to be submitted to PMG for grading without being removed from their holders. PMG will remove the notes from their PCGS Currency holders only if PMG believes that the notes will meet or exceed PMG’s standards for the grades assigned by PCGS Currency. If PMG does not believe that the notes will meet PMG’s standards, the notes will be returned in their PCGS Currency holders, and the grading fees will be refunded, less a $10 USD processing charge per note.
Note: This special rate is available only during Hong Kong on-site grading events. Please see the “Instructions” and “Important” notes below for further information about this CrossOver service.
The new CrossOver service was launched in response to overwhelming requests from paper money collectors and dealers after PCGS Currency abruptly ceased operations in early 2019. The closure of PCGS Currency left owners of PCGS Currency-graded notes wondering whether the authenticity and grade of their notes were still guaranteed. It also left prospective buyers and sellers without access to current PCGS Currency population data or the ability to verify the certification of their PCGS Currency notes online.
Every note that PMG certifies is backed by the comprehensive PMG Guarantee of authenticity and grade. Virtually all notes graded by PMG are listed in the free online PMG Population Report, which allows collectors and dealers to research the relative rarity of their notes, and all PMG-certified notes can be found in the popular Verify PMG Certification feature on PMGnotes.hk.
"PMG hasn’t offered a CrossOver service in years, but there have been so many requests for it in the last few weeks that we felt compelled to respond to market demand,” said Mark Salzberg, PMG Chairman. “This service will hopefully enable more collectors and dealers to benefit from the protection of PMG’s comprehensive guarantee and high-quality holder."
To submit for this CrossOver Service, select a PMG grading tier according to the note’s fair market value (FMV) and write CROSSOVER in bold letters on the PMG Submission Form. The regular PMG grading fees apply to CrossOver submissions. For a list of PMG grading tiers and fees, click here.
CrossOver submissions made to NGC GmbH will be held for the next on-site grading event.
If you would like the note to be encapsulated by PMG regardless of the PMG grade that it will receive, write CROSS AT ANY GRADE in bold letters on the PMG Submission form. PMG’s grading fees will be discounted by 20% for CrossOver submissions designated as “CROSS AT ANY GRADE.”
PMG will use reasonable efforts to remove PCGS Currency-graded notes from their holders only if it believes that the note will receive the same grade or a higher grade with PMG. However, due to the possibility that notes may have issues that are hidden by the holder (such as pressing), PMG cannot guarantee that PCGS Currency notes submitted for CrossOver will not receive a lower grade with PMG. By submitting for CrossOver service, the submitter agrees that PMG shall have no liability in the unlikely event that it removes a PCGS Currency-graded note from its holder and the note subsequently receives a lower grade or no grade with PMG.
If PMG believes that a note graded by PCGS Currency is not genuine, altered or otherwise ungradable by PMG, the note will not be removed from its PCGS Currency holder. For submissions made at on-site events, the grading fee will be refunded less a $10 USD processing charge per note.
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Questions? Contact PMG Customer Service at Service@PMGnotes.hk or +852 2115-3639.
Q. Can I submit notes for PMG CrossOver from grading services other than PCGS Currency?
A. At this time, this CrossOver service is limited to notes graded and encapsulated by PCGS Currency.
Q. If my PCGS Currency-graded note has the PPQ designation, will it be crossed with PMG’s EPQ designation?
A. PMG will cross PPQ-designated notes only if they will receive the EPQ designation at PMG. (Note: if you request "Cross at any Grade," the note will be removed from the holder regardless of the grade and designation. However, notes that are determined to be not genuine, altered or otherwise ungradable will not be removed from their PCGS Currency holders.)
Q. Will my note keep its pedigree?
A. In most cases, PMG will assign the same pedigree attribution as long as sufficient evidence (such as an auction lot listing) is provided.