PMG Label Error (Mistake by PMG)

I recently purchased a 50 Zlotych Polish banknote that has been graded by PMG.

After receiving the note, I noticed that PMG made a mistake in the label description. The label incorrectly states that the note is a 10 Zlotych, while the actual banknote inside the holder is clearly a 50 Zlotych.

Has anyone else encountered such an error from PMG before?

Also, do you think such a grading mistake could be considered a collectible error and potentially increase the value of the note?

Has anyone else encountered such an error from PMG before?

I have a few but they're less dramatic than your example. Usually the error is of a variety (& of course I am always snapping up 65's which appear to be well centred & registered).  But that's another topic.

PMG labelled this “P-22l1” as “signature 1” (Jacobs) when in fact it is clearly the 2nd & much tougher K Dwight Venner signature (P-22l2). The St. Lucia version is probably the easiest of P-22 but in general, P-22 is much tougher note to catch than P-18 ("Anguilla not named on the map") or the corrected version. People saved the first series because it was a perceived “error” & the revised version was dismissed as “common.” The 2nd (last) signature variety was short & can be quite tough to find so this incorrect label worked in my favour.  Now, I don't really care about the incorrect label but if I were to pass away tomorrow my wife would never know it was labelled incorrectly & if she were to ship it off to be auctioned- the incorrect label would be someone else's prize.

Also, do you think such a grading mistake could be considered a collectible error and potentially increase the value of the note?

I don't think the TPG labelling error will have a positive result on any note being offered b/c they're often incorrectly sold as the wrong type (sellers often assume the TPG is correct). An incorrect label would be more likely to decrease the value of your note.  I look for them because, like an unpopular TPG (older PCGS holders for example), collectors don't want to go through the bother of re-submitting & getting it corrected (like me).  I look at these as “bargain  TPG notes” (esp if graded correctly or conservatively)

mohamadriazi

Has anyone else encountered such an error from PMG before?

Yes.

I came across two Irish notes graded by PMG with similar errors. 

One was described as a replacement note, which it wasn't; and the other was a contemporary forgery of a scarce 1832 30 Shillling note which had been graded without it being noted as a forgery. 

The second of those two items would be the more serious of the two, as an issued 1832 30 Shilling note  would be worth around US$3k, a contemporary forgery of such note is worth a tenth of that. 

Five examples of the 30 Shilling note forgery have been recorded, including the PMG graded note - all are pictured in an article on contemporary forgeries of Irish notes on irishpapermoney.com.

While browsing one of the auctions, I came across a Ukrainian 100 hryvnia in a holder from a 50 hryvnia banknote.