Sheik Sheck

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Journal Entries posted by Sheik Sheck

  1. Sheik Sheck
    This note was recently returned from grading. I am growing fond of the new holders. They seem to have solved the problem of crooked notes and bulging ridges between the note and label compartments. Track and Price lists only 13 large notes and one Value Back. The VB listed is a $20 so this is new to then census. When I received the note from the seller, I could smell the strong tint of tobacco! If only this note could speak. I am sure the yellow color is a result of cohabiting with a smoker for a long time. However, in the holder, no one will ever know!!
     


  2. Sheik Sheck
    Happy New Year! I stumbled upon Lawrence and his exquisite signature he was not only representing the bank I collect (Ch#252), but also apparently lived in the neighboring state. I assume bank presidents were equally mobile in the early 20th century, looking for the best job. Looks like he lived in both Pennsylvania and West Virginia. 
     

  3. Sheik Sheck
    This little old lady always seems to have some nice stuff. I love being able to locate good stuff that is ungraded and has potential. I was looking through her rotation case and found this Dallas FRBN. We started talking and she pulled out of her special drawer 100 star notes and a local Type 2 NBN, I was thrilled. When I bought the 100 consecutive star notes ($800) she gave me a good deal on the FRBN ($32) and the LaGrange note ($250). I sent them in promptly for grading. 




  4. Sheik Sheck
    Hey ddr70, I was checking out your nice Large Nationals and noticed your Newton, Mass note. It has the rare Woods-Tate signature combo. Attached is New York Dunbar of the same ilk. You ay be aware but Peter Huntoon wrote a nice article in the April 2019 Bank Note Reporter about the rarity of the combo. Attached is also a .jpg of the article and the banks that issued such notes. 


  5. Sheik Sheck
    Educating all on the difference between CGA and PMG
    As the esteemed Matarcat says, treat CGA as ungraded when purchasing.Note, the even though PMG did not assign it "NET" another surprise was the note had been "Retouched", impossible for most to realize before sending in for grading.

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  6. Sheik Sheck
    If you want to really feel like your collection is small and futile, check out the Bebee collection at the ANA museum website. You can see just about any rarity you could hope for. DDR70... you will salivate at the high denomination, territorial NBN's. It's just an astounding collection! http://www.ana-museum.org
  7. Sheik Sheck
    After shopping for the vaunted Bison for several years, I finally made the plunge. I am trying to pick up only EPQ when at all possible since observing sales, the slightest comment can cause the price to be extremely volatile. The most minor of comments, NET or not, seems to reduce the price by quite a bit. I'd like to hear your opinions. Bank Note Reporter noted that recent auctions seem to ding notes with "closed pinholes" or "minor repairs." PMG tends to obscure the topic by assigning NET in a somewhat arbitrary fashion. NET can really kill the value of a note, no matter how minor the flaw. Thus, please enjoy my EPQ Fr-122!!


  8. Sheik Sheck
    I can't find the $5 note!?!? Other than that, this is an awesome collection I put together. They are all graded but finding notes with the same signatures for all the denominations was not easy. I really enjoy putting sets like this together. Comments would be nice!!
  9. Sheik Sheck
    Heritage Auctions posts scans that are not realistic either!!
    Heritage says, "The margins are outstandingly large for this type, and the gold inks are as deeply colorful as we have ever seen them. PMG likely saw some very minor flaw with the note out of the holder, but in the holder its obvious original embossing along with its other attributes makes it look like a 65 EPQ to us.
    From The Yuri Solovey Collection"
    Now look at their scan compared to mine once I received the note. When will this monkey business stop!!?? I expect it from Ebay trolls, but a fine Auction House??

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  10. Sheik Sheck
    I am trying to complete a set from one national bank set. I chose the First National Bank of Pittsburgh (Ch #252) because I originally bought an ungraded 1902 $5 Plain Back. It graded 35 EPQ and the signature of the bank president Lawrence Saunders is a wonderful signature. Also, this is a common bank with many notes so I thought the chances of getting most of the denominations would be better. It's not as easy as I thought. I rarely see the large denomination notes for sale. If anyone can help, I am BUYING CH #252's. Notice the the cashier was C.C. Taylor on the large notes and is also the same cashier on the small Type 1 notes! C.C must have worked at the bank as a cashier for many years. Anyone else trying to do a collection like this??

  11. Sheik Sheck
    How about FOUR different signature pairs for a single bank. Two of the notes show the cashier presumably promoted to the President. And C.C. Taylor, the cashier quite common on the Ch # 252 notes is President on the 1929 small versions from this Charter. I wish someone could explain this bank's storied signatute lines. Obviously the "FirstSecond NB" merged to become the First NB but the multiple signatures requires some research of which I haven't done yet. 
  12. Sheik Sheck
    I did business with the purveyor of these notes. Note the tape as the holder fell apart. Fortunately I don't see many of these holders anymore but it was not a good way to begin collecting, doing business with a person that doesn't care about long term customer relations as opposed to making a quick buck. If you do see these holders, treat them as CGA or ungraded notes as the owner was grading and selling notes at the same time. I still find it hard to believe that ungraded note sellers on Ebay fetch top retail dollar . People just don't understand that large size old notes are not graded for a reason. The note has certainly been inspected  by professionals, probably dozens of times. They are not graded because there is some small flaw that translates into hundreds or even thousands of dollars for high dollar large notes. And folks bid these notes up to full retail based on the sellers description "Strong XF, Choice Unc., check out my 100% feedback"...etc. 

  13. Sheik Sheck
    I finally had it graded. I picked the note up for a very nice price ungraded. There are several notes that were preserved with about the same serial number range so the lack of extreme rarity makes these notes of less value. I have seen several of the CH# 1555 in $10 and $20 denominations sold at auction. They are always graded and always seem to be AU or Unc with the EPQ designation. So, as I have posted before, these type of notes are not graded for a reason and here is it this time. When I received the note, it was clearly AU or Unc so I thought it had probably been flattened. This time it did not grade NET but it was commented as "Previously Mounted" I always thought that meant it was in another holder and cut out and sent without the previous holder to another grading service. Matarcat showed a CGA $50 note mounted in a CGA 62....he cut it out sent it to PMG and was delighted it came back as a PMG 63. I wondered why they didn't put "Previously Mounted" on his note. So I called PMG. Maybe I am educating some of you. "Previously Mounted" was detected as remnant of adhesive on the corners which was probably because the note was in a frame or something like that with adhesive tape or something to hang it. I checked the corners before I sent it and I could not see any problems but PMG did. I asked them not to place it but they said they had to. Can anyone see the presence of adhesive on the corners? Anyway it graded out as 62, not EPQ. A mixed blessing. I don't think I lost money but I don't thin it is super valuable like I had hoped for. Moral of story...buy an ungraded note, and you may get lucky and get a fantastic grade making the note worth far more than you paid, but if you buy a relatively rare, expensive, especially old note ungraded, it is probably for a reason. How many experts looked at this note under magnification, saw the remnants of adhesive and balked on purchasing or sending it for grading because they know it was worth more ungraded? On another note, I am so disappointed in this Journal board. I hoped it would be active and teach us all a lot. Instead, I post more than anyone, rarely get a response and when writing, feel like this hobby is so obscure, it's all a waste of time. Anyway, here are the images. 


  14. Sheik Sheck
    This Thomas Flynn Fr. 774 "battleship" note was sold for $6,037.50 in April of 2008.
    The same note sold for $4,312 in 2014.
    I just picked it up at auction for $3231.75. This is 46% reduction in 9 years. I wish there would be a really good article on how much the currency market has softened quite a bit. One vendor says the premium for low serial number specimens has dropped out the bottom. Interesting since there are Bison notes and other low serial number notes still going for several hundred thousand dollars up to over a million. It seems one needs to be really careful with the premium on low serial number notes. I never thought it was worth it anyway. I thought it was an interesting and nice feature to have but never bought notes for any serial number feature (low #, ladders, radars etc....) Happy collecting. 

  15. Sheik Sheck
    A very happy birthday to my Fr. 1225h graded PMG 25VF. It's date is February 20, 1917 so Monday (tomorrow) February 20, 2017 this note will be a century old. Nice!
    Tomorrow, February 20, 2017, this fine old $10,000 gold certificate turns 100 years old. Note the date on the note is February 20, 1917.
    Most were destroyed, with the exception of a number of 1900 $10,000 bills that were in a box in a post office near the U.S. Treasury in Washington, D.C. There was a fire on 13 December 1935, and employees threw burning boxes out into the street. The box of canceled high-denomination currency burst open. Much to everyone's dismay, they were worthless. There are several hundred outstanding, and their ownership is technically illegal, as they are stolen property. However, due to their lack of intrinsic value, the government has not prosecuted any owners, citing more important concerns. They carry a collector value in the numismatic market and, as noted in Bowers and Sundermans' The 100 Greatest American Currency Notes, the only United States notes that can be purchased for less than their face value. This is the only example of "circulating" U.S. currency that is not an obligation of the government, and thus not redeemable by a Federal Reserve Bank. The note bears the portrait of Andrew Jackson and has no printed design on its reverse side

  16. Sheik Sheck
    Now my scan
    Heritage says, "The margins are outstandingly large for this type, and the gold inks are as deeply colorful as we have ever seen them. PMG likely saw some very minor flaw with the note out of the holder, but in the holder its obvious original embossing along with its other attributes makes it look like a 65 EPQ to us.
    From The Yuri Solovey Collection"
    Now look at their scan compared to mine once I received the note. When will this monkey business stop!!?? I expect it from Ebay trolls, but a fine Auction House??

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  17. Sheik Sheck
    Almost 2000 have been graded by PMG of this common note. This 66EPQ is in the top 3% graded with only 6 notes graded at 67EPQ.
    The Fr. 39 is a very common note. But this one has such perfect centering, embossing punched all the way through the note and a note that is so bright, the note looks like it just came off the printing press.

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  18. Sheik Sheck
    The best grades are not always the greatest eye appeal.
    My $20 large note gold certificate collection is almost complete, only lacking the Fr-1179. As you may know the Fr-1179 and 1180 are the technicolors so you will forgive me if I only have one of the two in my collection? This reverse is my most wonderful. I love it dearly.

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