Quick summary
- Each grading service sets its own fees, so the price depends on the service and the note; check the current submission form before you commit.
- For PMG-certified notes, a Star Designation review costs $15 under $3,000 in value and $30 from $3,000 to $10,000.
- Round-trip shipping and insurance are real costs that many first-time submitters forget to budget.
- Resubmitting the same note means paying again, so repeat submissions only pay off on genuinely scarce notes.
- Free verbal opinions from reputable dealers can settle most questions before you submit anything.
Professional grading turns a loose banknote into a sealed, certified holder, and the price of that service is not a single number. Each service sets its own fees, shipping and insurance cost extra, and smaller charges add up fast. Here is where the money goes and how to tell whether your note justifies it.
What You’re Paying For: Encapsulation and a Grade
When you submit a note, the service evaluates its condition, seals it in a tamper-evident holder and prints a label showing the grade plus any designations. For paper money, the best-known service is Paper Money Guaranty (PMG), part of the Certified Collectibles Group alongside the Numismatic Guaranty Company and Numismatic Conservation Services.
Two designations matter on the label. EPQ, short for Exceptional Paper Quality, is a designation tied to paper quality. PMG also awards a Star for exceptional eye appeal, an idea NGC pioneered for coins in 2000. To earn the Star, PMG looks for exceptionally strong plate or overprint embossing, rich ink color, and paper quality that goes beyond its EPQ standards. A note that misses the EPQ bar cannot receive the Star.
What you are buying is a third-party opinion and protective encapsulation, not a guarantee of value. The grade does not make a note worth more than the market says it is.
The Main Currency Grading Services and Their Fees
Grading services publish their fees on submission forms. One PMG fee is easy to pin down: the Star Designation review, open to notes the service has already certified.
Resubmitting a PMG-certified note for a Star Designation review costs $15 when the note is valued below $3,000 and $30 from $3,000 to $10,000. Above $10,000, the review costs the same as a regular grading submission. To request it, mark “Designation Review” prominently on the PMG submission form.
Fees and options differ from service to service, so the only reliable figure is the one printed on the current form.
How Declared Value Shapes the Bill
Declared value is your own statement of what the note is worth, and it plays into what you pay, as the Star review fees above show. How each service uses it is spelled out on its submission form. Base your estimate on recent sale prices for comparable notes.
Shipping, Insurance and Costs People Forget
The grading fee is the number everyone compares, but it is rarely the whole bill. Budget for the items below before you submit.
| Cost item | What it runs | What to know |
|---|---|---|
| Grading fee | Set by each service | Check the current form |
| Star review, PMG-certified notes | $15 under $3,000; $30 from $3,000 to $10,000; regular fee above $10,000 | Mark “Designation Review” on the form |
| Shipping to the service | Varies by carrier | Use rigid, protective holders |
| Return shipping and insurance | Varies by coverage | Ask the service how insured returns work |
| Dealer submission routes | Varies by dealer | Many collectors submit through a dealer |
Two extras deserve attention. First, repeat submissions add up. Some collectors crack notes out of holders and resubmit them hoping for a better grade, a pattern critics call gradeflation, because the same item generates fee after fee while grading standards drift upward. That only makes sense when a note is genuinely scarce and a higher grade would meaningfully change its market standing. Second, moving notes between holders and mailers is where handling damage happens, so pack carefully before taping a box shut.
Collector’s tip
Photograph both sides of the note before shipping and record the declared value you assigned. If anything goes wrong in transit or the grade surprises you, those records are what you will fall back on.
When Grading Makes Sense and When It Doesn’t
Grading pays off most often in these situations:
- The note is genuinely scarce, whether by type, district, serial number or run size.
- It is in exceptional original condition, and the EPQ or Star designation would add real standing.
- You plan to sell it, and certified holders help buyers trust the grade. The same applies when preparing an inherited collection, so it helps to understand grading before you sell a coin collection.
Grading usually does not pay off when the note is common, heavily circulated or worth close to face value. A folding error, a stamp or a repaired tear will cap the grade no matter what the label says, and the fee comes due either way. Modern notes found in change, including most star notes, rarely justify the cost unless research shows something unusual about the run. If you are unsure what makes a star different from a regular bill, see our comparison of star notes versus regular bills.
Cheaper First Steps: Get a Free Opinion Before You Submit
Before you fill out a submission form, get a free read on the note. Many reputable coin and currency dealers offer free verbal opinions in the shop, which tells you roughly what the item is worth and whether certification would help. Written appraisals are another option for estate situations, though those typically run by the hour.
Learning to judge condition yourself also saves money. Our guide to grading the condition of paper money walks through the terms collectors use, and the same skill transfers to coins, which are graded on a 1 to 70 scale. Study recent auction results, then decide whether the declared value justifies the submission fee.
Grading has its place, and for the right note it protects both the paper and your credibility as a seller. For everything else, a safe holder, careful handling and a patient eye cost nothing. If your note lives alongside coins, our guide to handling and storing coins without damaging them covers storage habits that work for banknotes too.
Collector questions
What does professional paper money grading cost?
There is no single price. Each grading service publishes its own fee schedule on its submission form, and shipping, insurance and designation reviews add to the total. Check the current schedule on the grading service’s own form before you commit.
Should I grade a common note worth a few dollars?
Usually no. Once you add shipping, insurance and the grading fee itself, the total can exceed what a common note would ever bring. Grading makes the most sense for notes that are scarce, unusually well preserved or genuinely valuable.
What is the PMG Star Designation?
It is a designation PMG awards to notes with exceptional eye appeal, including strong embossing, vibrant ink color and pristine paper quality. A note must first qualify for the Exceptional Paper Quality (EPQ) designation, and already-certified notes can be resubmitted for review for a fee.
Can I get an opinion without paying for grading?
Yes. Many reputable dealers offer free verbal opinions when you bring a note into the shop, and you can learn to judge condition yourself using grading references. A free opinion tells you whether the note is worth the cost of submission.
Coin values change with demand, condition and metal prices. This guide is general information, not an appraisal or investment advice.
