Collector's Guide · Grading · October 2026

How to Read a PMG Banknote Label, Line by Line

A PMG label fits a country, a catalog number, a serial number, a grade and sometimes a name into a strip a little wider than the note. Here is what each line tells you, using a label from our own PMG 68 EPQ Zimbabwe 100 Trillion stock.

What does each line on a PMG label mean?

Here is the front of one of our labels, word for word, and what each part means.

For world notes, PMG can also print the region, a secondary catalog reference, the printer and the watermark when they matter for identifying the note. The certification number is not on the front of this label. If you do not see it, turn the holder over.

What does the grade number on a PMG label mean?

PMG grades on a 70-point scale adapted from the Sheldon scale used for coins. The number describes the note's condition, and the name beside it puts the number in plain English. At the top of the scale the names are:

Our guide to PMG's 70-point scale covers the circulated grades below 60 and how each grade is judged.

What does EPQ mean on a PMG label?

EPQ stands for Exceptional Paper Quality. PMG gives it to notes whose paper is original, with the embossing, texture and surface they left the printer with, and that have not been processed, pressed or washed to look like a higher grade.

Two rules make EPQ more important than it looks. PMG offers it only from Very Fine 20 upward, and it is required for any grade of Gem Uncirculated 65 or higher. So a 65, 66, 67, 68, 69 or 70 always carries EPQ. Below 65, EPQ is optional: a 64 may carry it or not, and a 64 without it is one where something about the paper kept it from qualifying.

What does the star mean on a PMG label?

A star (★) after the grade is the PMG Star Designation, for notes with exceptional eye appeal for their grade: strong embossing, vivid ink, paper beyond the EPQ standard. A note cannot get the star without first earning EPQ, and any note graded 70 must also qualify for the star.

The PMG star is not a star note. A star note, also called a replacement note, has a star or asterisk in its serial number because it replaced a sheet spoiled in printing. PMG notes that on the label too. The two are unrelated, and a note carries both only by coincidence.

What is a pedigree on a PMG label?

PMG's own definition: "A pedigree is generally used to indicate a banknote's present or past ownership." It can also mark a plate note pictured in a major catalog, the discovery example of a new variety, a trade show or charity auction, or a date that matters to the owner.

The rules behind the line are worth knowing:

• PMG adds a pedigree on request, for an additional fee, and decides at its sole discretion whether to accept it.
• A collector's own pedigree is almost always their name followed by the word Collection.
• PMG will generally not pedigree a note to a company unless the request comes from that company.
• The pedigree is not part of the grade, and PMG does not guarantee pedigree attributions under the PMG Guarantee.
• Pedigreed notes are counted in the regular population report, not listed separately.

So the Planet Banknote line on our labels means one specific thing: we submitted the note to PMG ourselves, from our own stock, and asked for our name on it. It tells you where the note came from. It does not change the grade.

A pedigree records where a note has been. The grade records what it is.

Does a pedigree add value? PMG is candid that many pedigrees do not add any premium. Famous collections can, because collectors pay for provenance they can trace. For most notes, the grade and the paper drive the price, and the pedigree is the note's history.

What does NET mean on a PMG label?

NET appears when a note has problems more serious than its numeric grade shows, such as repairs or missing pieces. PMG lists the problem on the label, and the guarantee on a NET note covers authenticity only, not the grade. Most notes graded below Good 4 are NET. If you are buying, read the comments line before the number.

How do you verify a PMG label?

1. Find the certification number on the label. If it is not on the front, turn the holder over.
2. Enter the number and the grade at pmgnotes.com/certlookup. Labels made since September 2022 also carry a QR code on the back that opens the same page.
3. Compare what PMG shows, the description, the grade and often an image, with the note in front of you. The serial number should match to the last digit.
4. Check the holder. PMG lists a hologram, a custom embossed seal and a watermark in the label among its security features.

Our comparison of PMG and PCGS holders covers how the two services differ if you are choosing between them.

Frequently asked questions

What does EPQ mean on a PMG label?

Exceptional Paper Quality. PMG awards it to notes whose paper is original and has not been processed, for example pressed or washed, to look like a higher grade. It is available from Very Fine 20 up, and it is required for any grade of Gem Uncirculated 65 or higher.

What does Superb Gem Unc mean on a PMG label?

It is the name PMG gives grades 67, 68 and 69 on its 70-point scale. 65 and 66 are Gem Uncirculated, and 70 is Gem Unc 70. All of them carry EPQ.

What is a pedigree on a PMG label?

A line that records a note's present or past owner or another part of its history, such as a famous collection, a plate note or a submitting company. PMG adds it on request for a fee, at its own discretion, and the pedigree is not part of the grade.

Does a pedigree make a banknote worth more?

Sometimes. A note from a famous collection can draw extra interest, but PMG itself says many pedigrees do not add any premium. Buy the note for its grade and paper, and treat the pedigree as its history.

How do I check whether a PMG label is real?

Enter the certification number and grade at pmgnotes.com/certlookup, or scan the QR code on the back of newer labels, and compare the note and image PMG shows with the one in your hand. Then check the holder's hologram and embossed seal.

What is the difference between the PMG star and a star note?

The PMG Star (★) after a grade means exceptional eye appeal. A star note is a replacement note with a star or asterisk in its serial number. They are unrelated, and a note can be both only by coincidence.

Sources

• PMG: The PMG Holder and Label
• PMG: Pedigrees
• PMG: Learn Grading, What Is a Pedigree? (January 2021)
• PMG: Learn Grading, What Is the PMG Star Designation?
• PMG: Paper Money Grading Scale
• PMG: PMG Announces QR Codes on Labels (September 2022)
• Wikipedia: Zimbabwean one hundred trillion dollar note