Disney “Proofs” vs Disney “Remainders”


Welcome Disney Dollar collectors.

Happy 59th Birthday Disneyland !  July 17th 1955 – July 17th 2014

As most collectors that collect Disney Dollars are probably already aware, the Walt Disney Company was the first private institution to print its own money and have it accepted and used like the US dollar inside any of the Disney theme parks.

Disney Dollars have come in various designs and denominations, celebrating Disney characters, anniversaries, films, and attractions. They may be used as payment, just like cash, at any Disney location in the United States, including the Disneyland Resort in California, the Walt Disney World Resort in Florida, and even aboard the Disney Cruise Line.

All Disney Dollars, except for Proof or Specimens have a unique serial number assigned to it and the series year.

1988-five-specimen-66ppqSpecimen Dollars are printed well ahead of the final release for the series for that denomination.The purpose of the Specimen note is to test the size & placement of the Disney character used, paper weight, Ink quality and overall inspection of the specifications for that Disney Dollar series design.The Disney Specimen note does not have a serial number assigned to it at this stage.The word “SPECIMEN” is often placed somewhere on the note or OOOOOOOO’s (zeros) are where the assigned serial number would go. Specimen Dollars are not printed for release or circulation for the Disney theme parks, but as any currency, a few end up in collectors hands and though can be pricey, are a very sought after Disney Dollar for collectors to have in their collections.

 

Jeff Smith of TreasuredStocks.com sold the only known 1996A $1 Mickey Disney Castle PCGS graded 67 PPQ Specimen Disney Dollar.

1987-five-proof-65ppq

 

Proof Disney Dollars are also printed ahead of the actual release date for a Disney series.The Disney Proof note is also printed to test the final specifications of the Disney character size, color and placement, final paper weight, ink quality and other specifications for that Disney Dollar series being printed that year. Disney Dollar proofs are printed in sheets of 18 notes and most of the sheets are numbered, but we have found some sheets that were not numbered. Disney Proof Dollars ARE printed and purposely meant for early release into the Disney theme parks, unlike the Disney Specimen Dollars.

 

A very interesting email was sent after viewing one of our notes advertised as a “Proof” Disney Dollar, and asked the following question to Disney Collectors Club the other day that brought up a rather new and confusing topic when it comes to the grading of Disney Dollar proof notes.

How can you tell that this is a proof and not a remainder? I have purchased what I thought were proofs in the past, only to find out from the grading service that they were not proofs at all.~ Roy

Disney Collectors Club sent a reply back to the email;

Our Disney notes we offer are guaranteed to be as described.
I have never heard of “remainders” for Disney Dollars. Disney “Proof Dollars” are cut from sheets and are recognized by PCGS and PMG as proofs.
The proof dollars offered here were purchased from professional and reputable Disney Dollar dealers. I have seen other obsolete notes as remainders but i have not personally had a question about remainders concerning Disney dollars. As you probably know already, proof dollars do not have serial numbers on the notes and the sheets are also numbered.~ Disney Collectors Club

At the time of receiving the first email with the question being asked about “remainders” we did not realize the sender even had it graded by PMG and sent Disney Collectors Club the photos for us to use. The FIRST Disney Dollar we have seen listed as a “REMAINDER” and graded 64 EPQ CH unc by PMG.

Read our Disney Dollar Collecting Ideas and Set Registry Comparison For Disney Dollar Collectors post to learn more about Professional Currency Grading Service (PCGS) and Paper Money Guaranty grading services and their Disney Dollar Set Registry available for avid Disney Dollar collectors.

Disney Collectors Club responded to the email with the best answer we could after speaking with who we consider to be one of the foremost experts in Disney Dollars we know of, Jeff Smith of Treasured Stocks.com. Neither Jeff nor Disney Collectors Club had ever seen a “remainder” note in the Disney Dollar collecting world until now. The subject was interesting enough that Jeff Smith, a PMG Registry member himself, took the time to call PMG and ask their grading expert PMG’s definition of a remainder directly for us and received the same answer earlier than the return emails the owner of the note and I were waiting for and had received later on that day.

PMG response to our definition of Disney Dollar “REMAINDER” question:

We classify a Remainder as a note without signatures, serial numbers, or date on it. It will be missing one or all of the above to be classified as a remainder. A proof is a prototype of a note that is printed by the printing company before it is issued.~ PMG

PMG Remainder note definition :

  • A note without signatures
  • A note without serial numbers
  • A note without a date on it
  • A note missing ONE or ALL of the above

PMG Proof note definition:

  • A prototype note
  • A note printed before it is issued
Q: What is the EPQ designation?
Do notes bearing the EPQ designation carry more weight in the Registry?A: The “Exceptional Paper Quality” designation (indicated on the PMGC label with an EPQ following the grade) specifies a note that PMG’s graders determined to have exceptional paper quality.PMG uses the designation Exceptional Paper Quality (EPQ) for notes that, in the opinion of PMG graders, are original.
By original, we mean that a note has not been physically, chemically, or materially processed to lend the appearance of a higher grade.PMG graders examine the embossing, inks, and overall integrity of each note to make the determination whether it will qualify for EPQ.
Notes exhibiting normal wear-and-tear for their respective grades are eligible; normal wear may include factors affecting grade such as counting marks and folds.

Notes receiving the EPQ designation must furthermore be unrestored.
A restored note has had non-original material added to bring its appearance to a known or assumed state.A note with EPQ designation is automatically assigned a Registry point premium in order to recognize its exceptional paper quality for the grade.

1987 $1 Disney Dollar Remainder - front

1987 $1 Disney Dollar Remainder - back

THANK YOU TO: Roy and his wife for allowing us to use these photos.

Visit them for fun things, including antenna toppers, Disney Dollars and Grateful Bear stuffed dolls at their eBay and Amazon stores
Red Ant’s Bev on eBay
Red Ant’s Bev on Amazon

I am still a little confused after the PMG explanation for remainder? The back of the PMG label also states “Cut from Sheet, As made Ink”

I always thought a remainder note was not issued for circulation therefore was considered an obsolete note. In this case with Disney Proof Dollars, they are printed purposely for circulation, they do have a currency value in any of the Disney theme parks and are not obsolete.

All Disney Dollar notes are cut from sheets and printed in ink. An email back from the notes owner answered my questions as this;

The ink they are referring to on this bill is on the front – it is an ink spot from the printer, not added later

Our Disney Dollar Proof Note

1987 Disney Proof Dollar

1987 Disney Proof Dollar-back

A very interesting topic..How should the Disney Dollar collector look at the difference in labels between PCGS and the PMG grading services and..How can a value be determined for the 2 different labels ? Is the “Remainder” note less or more valuable to a Disney Dollar collector than a “Proof” note. There is only one listed so far in a registry as a remainder, there are 100’s listed in a registry as a proof, and with the sheet number. PCGS does not place “Proof” on their PCGS front label unless it is from a numbered sheet.

Which registry is correct in naming the Disney notes a Proof or a Remainder ?

Technically they are both correct as the definitions go for each term, but I still believe that a remainder note is an obsolete note and Disney Dollar notes are in no way obsolete. Unless you are a PMG Note Registry member, the remainder label will never be placed on a PCGS Disney Dollar.

I believe the reason Paper Money Guaranty ( PMGcollectors-society.com ) lists their Disney Dollar Remainder notes as such is to keep their PMG Registry definitions unique to their Note Registry and not have any conflicts with other grading services and the terms they choose to use. PMG calls their registry “THE PMG NOTE REGISTRY” and has 2 capacities,Competitive Sets & Signature Sets with 16 Set Types to start collecting Disney Dollars.

Les from  Professional Currency Grading Services ( pcgscurrency.com ) was kind enough to call us back with the answers to our same questions we had asked PMG yesterday.

PCGS Currency only designates the Disney Dollar notes as a “Proof” on the front top right of the label if it came from a numbered sheet.The sheet number would be shown at the top right as well. If a single uncut “proof” note is received for PCGS grading, it would have the grade at the top right but would not say Proof and it would not have a number from the sheet it had come from because there is no way for the PCGS expert grader to determine where it came from. ~ Les from PCGS currency

After Howard Ross of Disney Collectors Club was speaking with Bruce Norton of PMG this morning and discussing this at length, PMG even though is technically correct in naming the Disney Proof note as a “Remainder”, did agree the given designation was not entirely accurate when it came to Disney Dollar Proofs. Mr Thornton said they would send out letters to any that were previously designated as a remainder and offered for free to have it replaced in their new designated labeled holder as a proof. Bruce noted that it is a new field for PMG as well and welcomed and appreciated Disney Collectors Club feedback on the topic as well.

We enjoyed talking to both Disney Dollar professional grading services over the last 2 days. Disney Collectors Club appreciate Roy and his wife,along with the grading services taking the time to discuss this. We received fast, courteous service from Jeff at TreasuredStocks, Les at PCGS currency and Bruce from PMG currency on all of our questions. Thank you

There are no professional Disney Dollar grading books for us to refer to, when it comes to collecting Disney Dollars. The History of Disney Dollars by Charles T Rodgers was the only book available to collectors until a few private ones came out on eBay, but not like the numerous professional well known currency reference books. Disney Dollar collecting has become very popular and it wont be long before a professional reference guide is available with unknown facts and realized prices.

We look forward to seeing more of PMG graded Disney notes in the future with the new designation the same as being used in the other registry. I think the confusion of the two labels would have been hard to put a value on it if in only listed in one registry.

Happy Disney Dollar Collecting everyone !!

As of January 2014 there are now 172 Disney Dollar notes required for a complete Disney Dollar Registry Set.

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