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The P-1d

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Revenant

Entry posted by Revenant ·

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I still don’t have a P-3 at the moment and I still have that nagging hole in the set, but I recently won an auction for a P-1d – one of the highest grade examples you can ask for – a 68 EPQ Star.

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This thing popped up on my radar about three months ago when it and a 68 EPQ (no star) were put up for sale with price tags of $190 (with the star) and $100 (no star). They were up for auction and those were the starting bids.

Buying a P-1d was a dream and a goal of mine for over a year now but getting one of these notes at those prices would have easily made the note the most expensive note in my set. I could not make myself pull the trigger on a bid even though I knew I’d hate missing out on such great examples of the note.

Apparently, I was not alone though in that no one else bid and they went unsold, so the seller posted them as a BIN at the same prices as the old starting bids. They sat on inventory for a while after that.

I kept expecting them to sell but they didn’t. My problem wasn’t that I thought the asking price was unreasonable. I have seen rarer varieties of the 1st dollar notes go in auctions for ~$125 before and these were 68s. I was just having a hard time convincing myself to pay that for one.

As time went on the thought of adding one of these to my set grew one me and I was close to ordering the 68 EPQ (no star). I couldn’t convince myself to go for the start for $190 but I did like the idea of getting this scarcer variety for my set in a really nice grade. I was just waiting a few more days to pull the trigger – lucky me as it turned out.

The Star note got pulled from the BIN listing and a few days later popped up in an auction with a starting bid price of $100 – same price as the BIN on the non-star. At that point I decided to go ahead and wait a week for the auction to end and see what it would go for. I knew the 68 EPQ was unlikely to sell in the interim with this one up for auction. So that made me feel safe enough to wait longer.

I waited and no one bid. So, Friday night, with the auction ending at 2:30 AM Saturday, I put in a bid of $114 and went to bed hoping for the best. I woke up the next morning and found out I’d won it without other bidders.

I was going to be out of town for a few days soon after the note ended so I casually bid on some of the seller’s other auctions and waited a few days to pay, knowing that would help make sure it was delayed shipping out and that it would not arrive when I wasn’t home to receive it. I’m glad I did because it still came just a couple of days after we got back home.

Its really exciting to have this and to have a complete variety set for at least 1 of the 4 first series notes.

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Fenntucky Mike

That's neat, having all the varieties. That was a hell of a get, I think.:golfclap:

I was paying attention to that note, same thing, I couldn't justify it to myself at $190 (not even close). I did not see it get relisted for an auction starting at $100, I might have thought about it a little more if I did see it, I don't think I would have bid on it. Guess we'll never know.lol

How far do you think you'll take your collection, specifically, will you or do you look for replacements and/or specimens? I haven't looked around but how readily available are Zimbabwe specimens?

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Revenant
2 hours ago, Fenntucky Mike said:

I was paying attention to that note, same thing, I couldn't justify it to myself at $190 (not even close). I did not see it get relisted for an auction starting at $100, I might have thought about it a little more if I did see it, I don't think I would have bid on it. Guess we'll never know.lol

The P-1d was the note that single handedly knocked me out of the #1 spot in the 1st dollar category when someone else added a 66 EPQ to a set a while back. So it has been on my radar for a while as it is hard to compete in that category without having these scarcer varieties and I increasingly take pride in the overall strength of that variety set.

2 hours ago, Fenntucky Mike said:

How far do you think you'll take your collection, specifically, will you or do you look for replacements and/or specimens? I haven't looked around but how readily available are Zimbabwe specimens?

I already have several replacement notes and there are a few cases where I have a replacement and a normal note. I could easily see that expanding with time. I've often thought a full replacement set of 3rd dollar notes could be fun but it would be expensive. Replacement notes for the 100 Trillion tend to have moon-money asking prices. I have seen Specimens but I don't see that happening as when they come up people like to slap $2,000-3,000 price tags on them and I nope out on that.

Edited by Revenant
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Revenant
On 10/22/2020 at 6:04 AM, Fenntucky Mike said:

I might have thought about it a little more if I did see it, I don't think I would have bid on it. Guess we'll never know.lol

Side note but I think there's a 65EPQ P-1D going for $40 on eBay. It's *only* a Gem Uncirc note but it's a P-1D - still one of the highest point getting 1st dollar notes - for $40 if you want to start down that road to a 1st series set.

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Fenntucky Mike
28 minutes ago, Revenant said:

Side note but I think there's a 65EPQ P-1D going for $40 on eBay. It's *only* a Gem Uncirc note but it's a P-1D - still one of the highest point getting 1st dollar notes - for $40 if you want to start down that road to a 1st series set.

Maybe, if it is still there in a few weeks. I went a little crazy with my mad money this last week, need to build it back up.

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Fenntucky Mike

How do you get caught in a country as corrupt as Zimbabwe when your a relative of the man in charge. Did she walk through the one terminal/scanner that wasn't on Mnangagwa's payroll?

In my mind I'm imagining the gold bars bursting from the bottom of the handbag and falling to the floor for all the airport to see and hear. Then, sheepishly, she tires to calmly pick them up and place them back in the handbag, by that time everyone is gathered around cell phones out video taping the whole thing. Finally, the guard is like "Ok, that's enough. Let's go.".

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Revenant
1 hour ago, Fenntucky Mike said:

How do you get caught in a country as corrupt as Zimbabwe when your a relative of the man in charge. Did she walk through the one terminal/scanner that wasn't on Mnangagwa's payroll?

In my mind I'm imagining the gold bars bursting from the bottom of the handbag and falling to the floor for all the airport to see and hear. Then, sheepishly, she tires to calmly pick them up and place them back in the handbag, by that time everyone is gathered around cell phones out video taping the whole thing. Finally, the guard is like "Ok, that's enough. Let's go.".

I mean... it was a lot of bars but they must have been small. Article says 6 kg. That's only about 13 lbs. That'll make a heavy bag but it's not enough to break most bags unless you're carrying it around in a plastic shopping bag. I would hope / think someone carrying around $300,000 in gold would be able to buy a bag with good stitching and strong material.

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