Frequently Asked Questions

PMG will not grade notes that are counterfeit, are of questionable authenticity or have been altered. Most notes that are issued for reasons other than socioeconomic exchange are not eligible for PMG certification and PMG will not grade checks, stocks or satire and advertisement scrip. In addition, PMG maintains a list of specific note types that are not eligible for PMG certification. Learn more >

Unless requested otherwise by the customer on the submission form, PMG will generally encapsulate notes in the smallest possible holder if doing so allows them to fit in one of PMG’s standard holder sizes. For example, a vertically oriented note will be encapsulated in a horizontally oriented PMG standard holder if it will fit. Notes that require the PMG Oversize Holder or Custom Holder will generally be encapsulated according to the note’s orientation.

If PMG graders believe that a note is likely not genuine, but its research is inconclusive, the note will be labeled "Questionable Authenticity" and not encapsulated. In most instances, the full grading fee will be refunded. However, notes without serial numbers, unique serial numbers or identifiable serial numbers, as well as notes with a block number only, will be assessed a £5 processing fee. Examples of these notes include, but are not limited to, select Specimens, Proofs, Essays, Fractional Currency, US Remainders and regular issue notes with block numbers only.

For more information, click here.

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 25 and higher will be evaluated for the EPQ designation. Notes must qualify for the EPQ designation to grade Gem Uncirculated 65 and higher.

PMG assigns its trademarked Star () Designation to notes that have exceptional eye appeal for their assigned numeric grade. For a note to be designated with a Star () by PMG, it 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.

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.

A pedigree describes the current and/or past ownership of a note. It notates the collector or collectors who have previously owned a particular note. For example, a note from the collection of Drs. Edward and Joanne Dauer may be pedigreed “Drs. Edward and Joanne Dauer” or “Dauer” on the PMG certification label. PMG will pedigree notes to significant collectors or collections if sufficient documentation is provided. Pedigrees can also be used to describe hoards. A submitter may request that their own name or the name of a collection be listed as the pedigree on the PMG certification label, subject to PMG’s approval.

PMG attributes most world paper money according to "Pick" catalog numbers described in the Standard Catalog of World Paper Money. These catalogs are continually updated by Krause Publications and, on occasion, some catalog numbers are changed. As a result, some PMG-certified notes are encapsulated with a label that has an outdated Pick catalog number.

Changes to the Pick catalog numbers are completely outside of PMG's control and PMG therefore cannot be responsible for notes that are no longer correctly attributed on the PMG label due to a later Pick numbering change. When attributing notes, PMG will use the most current Pick catalog numbers in the Standard Catalog of World Paper Money. For PMG-certified notes that have a now-outdated Pick catalog number, PMG will discount its ReHolder rate to £6 (incl. VAT) to update the attribution. Similarly, PMG will offer this discounted ReHolder rate of £6 (incl. VAT) to update the label for notes that were previously encapsulated with a Pick Unlisted attribution and have since been assigned a specific Pick catalog number.

PMG offers a free Appearance Review service in the event that someone believes that a PMG-certified note is overgraded. Notes that are reviewed and downgraded by PMG are covered by the comprehensive PMG Guarantee of grade and authenticity. To read the full PMG Guarantee, click here.

If you disagree with a grade previously assigned by PMG, you may submit the note for review for a higher grade. The note must be intact in its PMG holder. Choose a grading tier according to the note’s value and the tier requirements. Notes are graded according to PMGʼs grading standards, and a higher grade is not guaranteed. Fees are not refunded if a higher grade is not received. A note submitted for ReGrade will be removed from its PMG holder by PMG staff and encapsulated with a new PMG holder, label and certification number, even if the grade does not change. All notes submitted under ReGrade are subject to the terms and conditions of the PMG Guarantee. In the unlikely event that the grade is determined to be lower through ReGrade, the ReGrade will be converted into an Appearance Review under the PMG Guarantee.

When a submission is received by PMG, it is opened by trained staff under security cameras. Each note is entered into PMG’s proprietary system and assigned a unique identification number with a barcode that is used to track the note throughout the PMG grading process. Relevant submission information, including a description of each note, is entered into a proprietary computer tracking system.

The London office sends submissions with insurance coverage (based on the submitter’s declared value) to PMG headquarters in the US for authentication, grading and encapsulation. Upon arrival at PMG headquarters, the submission’s status is updated, and the notes are separated from the submission paperwork so that PMG’s graders never know the submitter's identity, which ensures impartiality.

Notes are then transferred to the PMG grading room, where multiple professional graders carefully examine each note. After grading, notes are encapsulated in PMG’s archival-quality holder designed for long-term preservation and protection.

After encapsulation, notes are returned to the PMG grading room for a final inspection.

Finally, the notes are matched to the original submission form and brought to PMG’s shipping department. Every note is individually counted and checked against the submission paperwork to make certain that no mistakes occurred. Notes are then securely packaged in a sturdy cardboard box and are ready to be sent back to the London office, again with insurance coverage based on the submitter’s declared value.

PMG headquarters is a secure 6,000-square-meter purpose‐built facility with two large vaults, a staff of armed guards and more than 150 security cameras. PMG’s London office also has extensive security measures in place to protect collectibles in its care.

All submissions are opened under security cameras and each note is immediately assigned a unique identification number that is used to track it throughout every stage of the grading process. All notes are fully insured while in PMG’s possession and are handled only by trained staff.

Gloves make it more difficult to examine a note and increase the likelihood of it being torn or mishandled. It is widely accepted within numismatics that a note should be held with clean, dry hands and without gloves.

Similarly, librarians who handle rare books are generally discouraged from wearing gloves due to the increased likelihood of tearing a page or otherwise damaging a book. The Library of Congress, for example, states that “contrary to widespread belief, gloves are not necessarily recommended to handle rare or valuable books…it is generally preferable to handle your books with clean hands, washed with soap and thoroughly dried, rather than with gloves.” Extensive research on this subject is available online.

No. PMG does not buy, sell or appraise notes in order to maintain their independence. PMG is focused on providing expert and impartial assessments of authenticity and grade.

Yes! PMG Collector members and Authorized Dealers may log in at PMGnotes.uk to track the status of their submission. Submitters may also contact PMG Customer Service at Service@PMGnotes.uk or call + 44 (0) 20 3968 3848.

No. Once a note is removed from a PMG holder, the PMG Guarantee no longer applies. This is because PMG cannot account for where that note has been, what if anything has been done to it, and for the overall subjective nature of note grading itself.

PMG attributes most world paper money according to "Pick" catalog numbers described in the Standard Catalog of World Paper Money. These catalogs are continually updated by Krause Publications and, on occasion, some catalog numbers are changed. As a result, some PMG-certified notes are encapsulated with a label that has an outdated Pick catalog number.

Changes to the Pick catalog numbers are completely outside of PMG's control and PMG therefore cannot be responsible for notes that are no longer correctly attributed on the PMG label due to a later Pick numbering change. When attributing notes, PMG will use the most current Pick catalog numbers in the Standard Catalog of World Paper Money. For PMG-certified notes that have a now-outdated Pick catalog number, PMG will discount its ReHolder rate to £9 to update the attribution. Similarly, PMG will offer this discounted ReHolder rate of £9 to update the label for notes that were previously encapsulated with a Pick Unlisted attribution and have since been assigned a specific Pick catalog number.

Paid PMG Collector members receive direct submission privileges as well as various discounts. Click here for details.

Yes. Your PMG Collector membership entitles you to submit to Paper Money Guaranty (PMG) as well as Numismatic Guaranty Company (NGC) and Numismatic Conservation Services (NCS), Certified Guaranty Company (CGC) and CGC Trading Cards.

Yes. This credit expires one year from the day it was issued.

If you joined as a Premium or Elite Collector member, your £120 grading credit will be posted to your account instantly. It will then be automatically applied to your submissions until the credit is exhausted.

If you have a member credit, you must still provide a valid payment method to cover shipping and handling fees.

No. Your membership is valid for submissions of your collectibles ONLY. You may not submit on behalf of any third party.

No. The credit is only valid for the member to whom it was issued.

Because of the benefits you received with your membership, a prorated refund is generally not available. However, if you have signed up for auto‐renewal and have not used any grading credits that you may have received, you may cancel your membership within 30 days of auto‐renewal to receive a refund of your membership fees. Contact PMG Customer Service at Service@PMGnotes.uk or + 44 (0) 20 3968 3848 for more information.

PMG’s headquarters is a secure 6,000-square-meter purpose‐built facility in Sarasota, Florida, USA. In the UK, Certified Collectibles Group – International UK Limited (CCG UK), an affiliate of PMG, operates a submission office in Bloomsbury, London. PMG also has submission offices in Munich, Germany, Hong Kong, China and Shanghai, China as well as Official Submission Centers in the UK, the Netherlands, China, Singapore, Korea, Japan, Thailand and Malaysia.

PMG can be contacted by mail, telephone or email. For a list of PMG submission locations, click here.

PMG members may submit their notes directly. Join today!

Once you are a member, you can schedule an appointment to drop off your submissions at PMG’s London office, or you can ship your submissions to the London office.

To schedule an appointment to drop off at the London office:

Contact PMG at +44 (0) 20 3968 3848 or at Service@PMGnotes.uk. You must schedule an appointment to submit in person.

To arrange a shipment to the London office:

The submitter is responsible for selecting the carrier and level of insurance. PMG is not liable for losses or damage to notes in transit. Shipments should be addressed to:

Certified Collectibles Group – International UK Limited
69 Southampton Row, Second Floor
Bloomsbury
WC1B 4ET
London, United Kingdom

Note: Submissions sent through the mail must be delivered to PMG’s London office during normal business hours.

To arrange a shipment from the London office:

Fill out the UK Return Shipping Form, which can be found here. Make sure to:

• Enter all information requested in the form.
• Select your own carrier (which requires a completed shipping label) or authorize PMG to arrange shipping and insurance by Malca-Amit according to the rate table in the form (recommended).
• Make sure you sign your form.
• Include the completed form with your submission.

Note: If a UK Return Shipping Form is not included with a submission, PMG will hold the notes at its London office for pick-up.

Payments to PMG are accepted by Visa, Mastercard, American Express, electronic transfer and cheque. PMG has online payment portals to make it easier for clients to pay securely by credit card. To learn more, click here.

Many PMG Authorized Dealers also accept submissions from the public.

Submissions to PMG’s London office from customers located outside of the UK may be subject to import duties upon arrival in the UK. Customers are responsible for all costs, including any import duties, incurred when shipping to PMG’s London office. (PMG covers all shipping costs between its London office and its US headquarters.)

CCG UK will not ship submissions to customers in the EU. Customers located outside of the UK will need to make their own arrangements to pick up collectibles from PMG’s London office.

CCG UK encourages customers within the EU to submit to its affiliate in Munich Germany, to avoid additional costs and complexities due to Brexit. For more information about PMG's Munich office, visit PMGnotes.de (for paper money) or NGCcoin.de (for coins).

Alternatively, EU customers may also consider submitting directly to PMG’s US headquarters. For more information, visit NGCcoin.com (for coins), PMGnotes.com (for paper money) or CGCcomics.com (for comics, trading cards, magazines and posters).

To access submission forms, simply log in, click on the profile symbol (head icon) in the upper right corner of the website and click on "My Submissions." Select the appropriate form for your location and collectible type.

PMG’s grading fees are generally based on a note’s fair market value and the submitter’s desired turnaround time. For a comprehensive list of all grading tiers, service tiers, fees and requirements for PMG submissions made in the UK, click here.

PMG uses the submitter's declared value to insure the note while it is in its care and, when applicable, in transit between PMG’s London office and PMG Headquarters in the US. The note's value also determines the PMG grading tier. Since PMG guarantees the authenticity and grade of notes that it certifies, it charges a higher fee for more valuable notes. For more information, read the Declared Value Policy.

PMG does not value or appraise notes but it does provide a price guide on its website to help collectors approximate their note's value.

PMG World Paper Money Price Guide

PMG Collector members and Authorized Dealers can drop off and pick up their PMG submissions at our UK office in London or at shows by appointment only. To schedule an appointment, contact PMG Customer Service at Service@PMGnotes.uk or + 44 (0) 20 3968 3848.

PMG Collector members and Authorized Dealers need to make an appointment with PMG to pick up their notes at our London office. To schedule an appointment, contact PMG Customer Service at Service@PMGnotes.uk or + 44 (0) 20 3968 3848.

The PMG company websites offer a free Submission Tracking resource that enables you to check the status of your submission as it makes its way through the certification process. The Submission Tracking tool is the quickest and easiest way to see that your submission has been received, whether it has been graded and when it is on its way back to you. Grades are available to view online when a submission's status is "Shipped." 

Customer Service representatives do not provide the grades of submissions over the phone.

To access Submission Tracking, simply log in to your account by clicking "Sign In" at the upper right of the PMG website and then clicking on "My Submissions" under your profile symbol.

If you remove your collectible from its PMG holder, you can return the label to PMG so that the collectible is no longer counted in the PMG Registry. This helps to make the PMG Population Report more accurate. Please note that removing a collectible from its PMG holder will void any guarantee provided by the company. If you would like it to be re-encapsulated by PMG, it would need to be submitted for grading as a raw (ungraded) collectible.