Love Collection

On 5/24/2022 at 1:34 AM, Fenntucky Mike said:

Excellent! That is a true beauty, love it!

There are a few more Ukrainian 70* notes ending today, one is a stunner but not in the budget at the moment. Congrats to whomever wins this note, it's amazing, and I hope to see it in someone's registry set soon. 

Thanks a lot!!

wow what a note and u$600 with 12 hours to go!! What did it end up selling for?!

On 5/19/2022 at 7:16 AM, Fenntucky Mike said:

Thanks! I'm pretty stoked about these notes, well any notes I get really. 

I'm not too broken up about loosing the 70/s, there have been several posted of other denominations as well, I just have a hard time justifying going over what I bid when there are things like that uniface specimen I can get for the same money or less than what those 70 notes sold for. Congrats on yours though, can't wait to see them in your sets! 

Huh, it's odd that prices rose pre-pandemic and stabilized during. Have you noticed a drop in prices overall or for individual notes?

Hey Mike,

the first 70* note turned up today safe and sound! 🤩

On 5/23/2022 at 1:33 AM, ColonialCoinsUK said:

That wouldn't surprise me - it would seem to be a generational undertaking! It is certainly the case for Napoleonic coins and medals housed in old European collections.

Great example, issued notes seem to be a real challenge - I've got the cow though

 

Yes I could imagine in Europe there are some real treasures locked away!

ah yes it’s interesting to see notes that had used the stock images available! I have seen quite a few different ones now! 
 

that one is quite unique that apart from the cow the same Columbus portrait was also used on the 1910 pesos issue! 😁

On 5/22/2022 at 6:48 AM, ColonialCoinsUK said:

Mainly Mexico, and Revolutionary where there are still plenty of gaps in known control letters, serial number ranges etc. I find all the early notes (Specialised catalog) interesting so I seem to have some from various places in Central and South America, although it looks like nothing from Nicaragu at the moment so I may have to do something about that

There are lots of short Banco series for these but I have also been looking at a complete run for a few countries - Guatemala seems to be winning at the moment with only >90% of the notes still needed for P6 to current. I wonder if anyone has ever put a complete collection together for any of these countries, I think I read somewhere that the biggest collections ever of Mexican Revolutionary notes are ~60%

On 5/22/2022 at 6:48 AM, ColonialCoinsUK said:

Mainly Mexico, and Revolutionary where there are still plenty of gaps in known control letters, serial number ranges etc. I find all the early notes (Specialised catalog) interesting so I seem to have some from various places in Central and South America, although it looks like nothing from Nicaragu at the moment so I may have to do something about that

There are lots of short Banco series for these but I have also been looking at a complete run for a few countries - Guatemala seems to be winning at the moment with only >90% of the notes still needed for P6 to current. I wonder if anyone has ever put a complete collection together for any of these countries, I think I read somewhere that the biggest collections ever of Mexican Revolutionary notes are ~60%

Oh that’s really good to hear! Seems like you have your work cut out for you! Especially if you are only 10% through a set! Maybe you should break it down into different years or types to make the goal of completion that little bit easier! 

Nicaragua has very limited specialised issues….and I have seen very few that have come up for sale over the years. I had the opportunity to see the below beauty as it was offered to me about 4 years back but I just wasn’t in a position to part with the cash for it! From what I’m told there is only one other known example at the National Bank museum that is in far worse condition!

Ive been told that there exists collections at least in Nicaragua that span generations, and they have no need or want to sell. I would imagine that such collections exists in other parts of the world such as Mexico also!

On 5/21/2022 at 10:16 PM, Fenntucky Mike said:

I am 100% with you in that it's all about the notes/hobby and having something unique to pass on to the next generation. The money only matters when I can't afford a note and have to pass.  

Beautiful notes by the way, I love those solid #'s! 

Yes definitely that’s what it’s all about! I started this hobby as a kid and have been collecting on and off ever since…I have sold and traded a little bit but it’s never been about the investment or making money.

and yes they are awesome notes! Hopefully my friend one day will let me buy one or two of them 😅😂

On 5/20/2022 at 9:39 PM, Fenntucky Mike said:

 You put a smile on my face my friend. One day I'll make it to the 70 club. 

Based on what you've posted and the notes in your sets, you must have one outstanding Fancy S# collection. You could probably start, may be complete, a modern, Fancy # only registry set. Very nice pick ups! There were some solid S# Ukrainian notes recently up for auction, starting price was $300, I was interested but passed as I thought that too high a price. Only one out of the five or six available sold. 

Ah. Ok, that makes sense. I hadn't realized the economic situation in Nicaragua had become so desperate so as to cause a glut of notes to hit the market. I am sad to hear that such a situation has befell the people of Nicaragua, and to hear of the closing of your business.  You are correct in that my part of the world (Michigan, USA) it has been quite the opposite, but things are starting to turn here and not for the better. Anyway, you are also correct in that there are more Ukrainian notes hitting the market due to the situation there but I tend to think that it has less to do with the hardships people in Ukraine are facing and more to do with advantageous sellers outside of Ukraine.

There are multiple factors fueling the Ukrainian banknote market, there was an overall increase in interest in Ukrainian notes and collectors prior to the invasion, the NBU released 6 new circulating note varieties (signature variety) and 6 commemorative notes just prior to the invasion resulting in a glut of modern notes being graded and Über high grades coming from them, increased interest, and now the war, have shook loose some of the older rare notes, specimens, proofs, errors and fancy number notes. Add to that all the money being thrown around and we have a hot market for Ukrainian notes. As I mentioned above I see this coming to a screeching halt in the near future, then we'll see a bunch of notes trying to be off loaded and sitting out on the market place, people will be taking losses. Especially people who were "investing" in common modern notes. Sorry, I don't mean to paint such a dire picture, hopefully I'm wrong.

How frustrating I lost my response as I got sidetracked!!

haha definitely Mike you need to join the “70 club”

and yes it’s a shame what has happened in Nicaragua, I am hoping at some stage it will bounce back like it did in the 90s.

also like your idea about building some custom sets. I’ll have to get on it and let you know! My Nica friend had also sourced some excellent solid serial #s but he wouldn’t part with them. They are really hard to source in Nicaragua due to generally only having one prefix per issue. So you are limited to a possible max of 9 per note! I’ve add some photos!

I also understand what has happened now with the Ukrainian notes with the additional interest in the new releases and high grades which everyone loves to have as part of the collection! Hope you can take advantage of some of the rarer pieces that come to light!

And well I understand that many people also use high quality notes as investments, but for me it’s about the hobby collecting and hopefully passing on this legacy to my kids. For that reason I’m not afraid of any price drops and I would see that as a great buying opportunity 😁

On 5/20/2022 at 8:35 AM, ColonialCoinsUK said:

I noticed that there was a Nicaragua 70 P178As at the upcoming World Banknote auction?

I knew putting sets together for Mexico and some of the other Latin America countries would be a real challenge - turns out that was a massive understatement! As such your Nicaragua set is very impressive, particularly with all the detailed information which is fascinating,

Yes thanks I already had that one on my watch list! It will make it a trilogy if I manage to get that one! I’m hoping as it’s a specimen it might not go as high! I do already have that note in 67 so it will be an upgrade!

And thanks a lot I have really tried to focus on completing the Nicaraguan sets to the best of my ability and more recently I’m focusing on higher grades or quality notes I don’t have.

And yes if your putting together a Latin American set that can be a daunting process! are you trying to collect a series from each country or how are you trying to break it down? 

If you need any help or guidance with Nicaragua please don’t hesitate to ask. I know that a lot of the ungraded inflationary Nicaraguan notes can still be picked up for cheap, but there are even some modern 1990s notes that are becoming increasingly hard to find.

I have picked up some other neighbouring Central American countries notes mainly to take advantage of combined shipping! however I know that I’ll probably never be able to fill out complete sets.

On 5/19/2022 at 7:16 AM, Fenntucky Mike said:

Thanks! I'm pretty stoked about these notes, well any notes I get really. 

I'm not too broken up about loosing the 70/s, there have been several posted of other denominations as well, I just have a hard time justifying going over what I bid when there are things like that uniface specimen I can get for the same money or less than what those 70 notes sold for. Congrats on yours though, can't wait to see them in your sets! 

Huh, it's odd that prices rose pre-pandemic and stabilized during. Have you noticed a drop in prices overall or for individual notes?

That’s the way! Yes I’m actually happy that I’m in a position to start acquiring a few more notes also! I haven’t been acquiring too much of late.

And yes I know the feeling when you set a budget for an auction, but I just wanted those perfect notes! I was close with a 69* in the collection but it just wasn’t quite the same! And same here I could have used that money to fill holes with older rarer notes…but I feel like I have joined the 70 club now! 🤩😎

It’s like the below but I’ve been told it’s serial #55 which is cool that it’s a such a low serial #….I had also previously bought some ungraded low serial # notes of this same note inc serial # 7 of the same guy which I’ll have to get it graded one day also! 

I think the issue with the prices was a completely separate issue in Nicaragua itself that had as a result of some political issues which caused the economy to tank in April 2018 onwards….so many local collectors started offloading their collections and there was more supply.

I had the opportunity to purchase beauties but unfortunately I was also not immune to this as I owned a business and property there still. I ended up closing up the business just before Covid hit in 2020 after sustaining heavy losses. And on one of my properties I have had 7 different tenants in the past 4 years and the rent has now halved from what I was receiving pre 2018 which is in stark contrast to what has happened here and no doubt in your part of the world!
 

The exception always is the extremely rare notes which never seem to dip in price. And obviously is not reliant on the local market activity.

I don’t know if you will see a similar phenomenon with Ukraine given what is happening in that part of the world at the moment.

On 5/16/2022 at 8:39 PM, Fenntucky Mike said:

One thing is certain and that is graded notes are pulling multiple times their value when compared to their raw counterparts. Around 90% of my banknote purchases over the past year have been raw notes. The prices for modern graded notes are just stupid right now. Prices for rare raw notes are strong right now, but they are more in line with what I would expect. Now the real question is will I send any of mine in for grading? Yes, some day. I actually downloaded a submission form this weekend but am still working out what I want to send. 

The 2 Karbowanez (P50) note mentioned in the Journal entry comes to mind, for me. A few years ago, 3 I think, an ungraded example went for around $1,700 then another a few months later went unsold at NYINC. Should have bid on those when I had the chance, now I'll have to wait. I tend to think that prices will fall in the near future, as opposed to continually rise. I believe prices could fall back 50% to pre pandemic levels, maybe more. Just my gut feeling.

Congrats on the wins Mike!! 
 

and a shame about the ones that got away!! Especially the 70*

I was so frustrated about a month back when I was outbid on a 70* note. Which was the first Nicaraguan 70* I had seen available in years!!
Then as luck would have it a Nica collector friend of mine tells me he has a a pair of 70* notes and he would be willing to part with one.

Then luck shines again and another completely different note pops up a few days later and I ended up bagging that one also! 
 

As far as the pricing is concerned fortunately I haven’t seen such noticeable increases in Nicaraguan notes….although there are a few people chasing big dollars for particularly the 1990s graded 20 and 50 Cordobas notes. However I’m yet to see any of these actually sell. However I noticed a huge upswing in prices from 2010-2020.

That’s good! So I assume just a year/signature variation ?! 👍

Mine was a completely different note design and pick number but the same denomination! But it was sorted which was good 😁

20 minutes ago, Revenant said:

Yeah... I recently discovered that I have one with that problem that I'll need to fix.

It is a little frustrating as I recall I had to source another note to fill that slot at the time! 😅😁

If it was an error speak to PMG first and in my case they waived the costs for the reholder fee. 👍

Great score with your Venezuelan notes 👏😊

I don’t have any certified but I was intrigued with them also and picked up some notes a few years back! 

I guess you really have to study what you are buying! I know I have had the issue with a few notes that the Pick numbers have been labelled incorrectly. PMG were able to fix one that was a mistake. Another was because they actually updated the Pick numbers for Nicaragua giving a 100 Cordobas note it’s own pick number rather than just a B. This then caused the new notes that were graded at the time to actually have Pick #s that are one number out!!! 
 

You can see an example from BanknoteWorld below of the 20 Cordobas note that you have that is labelled as P209 which was correct at the time!!

On 5/14/2021 at 9:50 PM, Revenant said:

I'm definitely not going to be in any rush on Argentina. I'm going to still be focused on Venezuela for a bit and maybe going for some low-hanging fruit upgrades for my 4th dollar set.

Ok it’s good to see your keeping to your core collections!

I liken collecting to a race that you will never finish! I am sure in 20 years there will be pieces I will be still searching for!! 

On 5/14/2021 at 6:08 AM, Fenntucky Mike said:

Absolutely!

That seems to be the norm now and I tend to agree with that decision. I fell like PMG is separating the specimens as people try to add them to sets, at least that's what happened with the Ukrainian sets. One day someone tried to enter a specimen in a set and the next day, POOF, I had three new specimen sets created for me with my notes already added. 

Yes I was shocked also as half my set disappeared one day! Then Ali clarified that they are breaking all the specimens off into their own sets! 😳 

which does make sense and it’s a good way to showcase both issued notes and specimens! 👍😊

On 5/14/2021 at 4:05 AM, Revenant said:

If you mean the Venezuelan set, I feel like I'm much more torn on how to approach it than I ever was with the Zimbabwe set because I feel very torn on how to use the set description / note descriptions to balance two wants that are competing with each other.

On one hand I want to do deep dives into that was going on around the time the note(s) came out and putting the note releases is their context. On the other hand I really want to go into the historical figures on each note and the endangered animals on each note. The Zimbabwean notes never had people on them so there was no person to bio and my blurbs about what was on the back tended to be shorter - like some of my blurbs about the animals. But I don't feel like I can have historical information, biographical information and talk about the animals on each note and have it not be excessively overwhelming. So I'm trying to strike a balance.

I'm thinking:

- the Set Description will become something talking about collecting hyperinflation notes similar to what I have in the Zimbabwean set

- P-88 to P-93 will focus on the economic history and the backdrop of the notes being released

- P-94 to P-99 will be about what's on the notes, but each will note about what that note was worth in US dollars when released / announced (it tweren't much!)

- P-100 will go back to the historical context and the switch from Fuertes to Soberanos

- P-101 to P-108 will focus on the people animals and places again.

- P-109 to P-114 will place more emphasis on the economic history and the advance to the hyperinflation timeline.

If I can make that work in a way that feels good I think I'll finally be happy with it.

Australia has a lot of 1 oz NCLT with cool designs and when I was younger that silver NCLT was almost my sole focus. I've moved on to other things over the years in part because I just do not have the time or the budget to keep up with the many many many NCLT series out there and trying and failing was bumming me out. Lol

Hey that’s why it’s your set...I feel you should do what makes you feel good and not overthink it. If you wanted to go into detail of both animals and historical figures maybe space them out and label them?!

maybe something like: 

- Simon Bolivar -

un excerpt about him...

- Sea Turtle -

This note is part of my growing set on turtles 🐢 

I actually was just watching a video from Drew Binsky on Facebook called I tried to exchange $100 in Venezuela. I failed. I tried to post the link but it didn’t let me. It’s an interesting insight into the Bolivares and how difficult they are to actually get your hands on worth a watch if you haven’t already seen it!

And with the Aussie silver Oz coins I hear you...We get issues that are even available for sale at our local post offices and there is some amazing designs and themes, but there is just way too many to collect and you would need limitless resources if you wanted to try and keep up!! 😅 I often get asked if I collect Australia and as much as I would love to I would never be happy as I would never be able to even partially complete it! 
 

I’ve added some photos from our trip to the Perth Mint where most of those proof issues come from about 5 years ago....there you can see what would no doubt be one of the most expensive coins in existence the 1 tonne gold Kangaroo!

you could easily spends 1000s in the gift shop and we had a few coins custom etched for us! 

Great job with this set!

I just checked out your NGC coin sets and can see you have a very diverse range including some Aussie sets! 👏😊

23 minutes ago, Fenntucky Mike said:

Yep, that too. I'll take a key note or a note to fill a hole over a 70 any day. Way to many other things to think about other than top grades.

That’s it like you said before it’s the novelty factor! It would be nice to have at least one in the set however I have a lot of holes to fill and even more now they decided to split off the specimens! 

27 minutes ago, Revenant said:

Cool! I'll have to mentally add that to the legacy of that set, along with the fact that it's has been used to teach kids about Hyperinflation now.

The Nicaraguan Hyperinflation hasn't really at all been on my radar. I'm aware of there being various Latin American Hyperinflation events before Venezuela but the one that seems to get the most attention is Argentina, so I'd say that's more on my radar than Nicaragua, but maybe one day.

😊

I was definitely intrigued with the hyper inflation notes also, my in laws had told me stories about how literally you would have to take a suitcase full of cash to buy anything of value and the cost of goods could literally double overnight! And you would have to spend countless hours just counting up 1000s of notes that might only be worth a few dollars! 🤯

Argentina was also another country that had a turbulent financial history! So I can see the attraction there and look forward to seeing what you put together 👍😊

28 minutes ago, Revenant said:

I've had similar problems in getting things like the P-1d for $100 when so many of the other notes in that set were had for $8-30. But it is a dang good feeling to have a full variety group of the P-1.

The rare varieties can be painful....I had this issue with a newer polymer replacement note....I had a rough circulated note but couldn’t locate an uncirculated note anywhere until one finally popped up on eBay last year...unfortunately a lot of the Nicaraguan collectors had this one in their sights also and I ended up winning the auction with a u$200 bid which was a hard pill to swallow on a note that has a face value of less than u$10!

Yes definitely the one that got away....it popped up at a time when I had only just started to dabble in certified notes and couldn’t justify it to myself at the time.

I am sure we all have those stories, I know of many other buying opportunities I had passed on because I thought at the time it was overpriced or out of my league. Only to find out years later what a great opportunity it actually was! 🤦‍♂️

16 hours ago, Fenntucky Mike said:

For that price I'd definitely think about it. What would that note go for today?

.Been thinking hard about a themed set, just haven't found the right thing yet.... A stench of skunks  nah.

Hey Mike,

I am honestly unsure but I wouldn’t imagine it wouldn’t go for very big $$ as the demand for high graded quality in Nicaragua notes just isn’t there at the moment!

I picked up this beauty 69🌟 my highest graded note for just under u$150 last year.

19 hours ago, Revenant said:

Yeah. I think we all feel that pain sometimes. I just have to remind myself sometimes that they have the same right to bid and out-bid as I do.  

Ha. Thanks. The Zimbabwe notes are very fun and interesting to me but I think you have to really be interested in them to go nuts with building that set like I have. It's good to know you're not more competition but I don't worry much anymore. My set is mostly built. I have examples in 65+ grades for almost everything, so if prices start getting bid up I just shrug and I won't do any upgrading.  

I really am just so proud of what I achieved with that set, and I'm very happy with it. I'd just love to fill in a last few holes that I'm working on. But I have no shame in that set not being full of "top pops" it's a dang solid collection that achieves everything I wanted for it and more.

Congrats to you on what you've done. I was happy to see your Nicaragua set win Best Presented in 2020. I feel like your sets are some of the best out there in terms of descriptions and overall presentation - to say nothing of the notes! I think you've gotten a couple of feature articles on your sets too, right?

I just recently got a NIcaraguan note for the first time to go with my turtle theme set.

 

Haha that is true, I think the FOMO gets to every collector at some point too!

Thanks for your kind words! And with your Zimbabwe notes you can definitely can see this dedication in your sets 👏 

I actually noticed your set when I was adding my own Zimbabwe notes and saw this attention to detail with your images and descriptions and decided that I had to up my game with my own Nicaragua set!

I had already spent a lot of time researching and felt that I had to share this info with others 

I also had some competition of my own with another collector that had won an award with a neighbouring country set that was expanding into Nicaragua, and was now aggressively adding more notes and this had briefly relegated me to second spot!

And yes I did get a featured article in the newsletter and also one of my notes was  shared on the Facebook page! 

Its great to see you have one of the Nicaragua notes, the latest polymer issues are great bright notes!

That is the great thing with this hobby is that there is so many collecting possibilities! Be it turtle images or other animals, personalities, type sets, serial numbers the sky is the limit! 😅😂

Are the Nicaraguan hyperinflation issued notes on your collecting radar?

Hi there Revenant,

You have made some very valid points, I have seen the prices dip when certain eBay vendors over sell a certain issue. And in some cases they are lucky to even get back face value for some of the higher denominations after many examples of the same note have already been offered!

I did dabble in Zimbabwe a few years back but I was generally just picking up some extra certified notes to take advantage of the higher costs in international postage! 😅 so you don’t have to worry about me 😁

I personally would love to have a 70 in my Nicaragua set and am regretting passing on the opportunity I had several years back. I thought at the time paying u$150 for a note that had a face value of just u$3 was crazy 🤯

And unless they have added some more recently at last check there was actually only 3 in 70 for all of the Nicaraguan issues. And all three are for a 2011 50 Cordobas commemorative polymer issue!

I do have a few graded at 69 and I have one at 69 🌟 

And I know your struggles with those auctions, I seem to see the same *** out names bidding against me on a regular basis! Some of them I have actually come to know as we are in a Nicaraguan collecting group together! 😅😂 and in between typing this I just got sniped on a couple of extremely low serial # notes I had my eyes on for the past week 😢