Fenntucky Mike

Welcome to the Forum. The Friedberg number is 2182-E*

I sent off a second submission of specimen notes to PMG and I have to say that the team at PMG did a fantastic job as the notes arrived just prior to hurricane Ian and were sent back shortly after Ian passed. Even though PMG had to shut down due to Ian, the submission was processed well under the stated turnaround time. Amazing job! Unlike my first submission, in which all the notes straight graded, it seems that I had a few problem notes in my second, one I knew of and two I didn't. In addition to the low points there were also some "high notes" which are worthy of celebrating. I'll go through all the notes in the submission with some short comments on each, and a dedicated Journal entry on one note to be forthcoming. Right off the bat the first note in the submission was body-bagged. It was labeled as QA (Questionable Authenticity). I have a request into PMG to see if there were any graders notes for this one and I'm also waiting for two more of these notes to arrive from sellers in the U.K. and the Czech Republic which I recently picked up. If you haven't already guessed I'll be writing about this one later once I have more info, for now it's a note that PMG won't encapsulate. Ouch! I was not charged the grading fee for this note. Next up was a note that finished out the Control Coupon registry set that PMG has. It's always a good feeling to finish out a set! I'll have more on these notes later and what I think constitutes a complete set, including varieties. Hopefully I'll get PMG to agree to adding a few, unlisted at the moment, varieties and expand that set even further. The back of the note is of the same design as the note above but in green ink and with the numerical denomination 50. Notes 3-5 were all additions to my 1991-'95 specimen set, specifically the 2nd through 5 series coupons, all three received numerical grades in the range I expected with two being towards the high end and one being graded 68 EPQ! Sweet! There was one slight disappointment in this group though, the 1994 100,000 Karbovantsiv note came up short and did not receive the EPQ designation. It's a tough note to find and the condition wasn't on par with the others, but I was hoping to squeeze out an EPQ designation on this one. It's the only note in the set without exceptional paper quality, I'll be keeping my eye out for another example, but it will probably be a long while before this note pops up again. Pick # 97s2 has the same back design as the note above, 96s3. Now this is one sweet note, one of the very few Ukrainian specimen notes with the specimen overprint on only one side. Pick 98s2 in my set is also graded 68 EPQ making a matching set, quality wise, for me. The rest of the specimen notes are denominated in Hryvnia and are the first such notes I've submitted. Again, there is some highs and lows in here but nothing as dramatic as the first five notes above. All in all not bad, but I need to pay more attention to what I send in for grading. Gotta hone my skills a bit more. Not a great result on this one but more are easily had and are relatively inexpensive. Note #7, not too bad. Notes 8 & 9 are duplicates, the note with the "Tears" annotation was a little disappointing but I should have caught that one. Serves me right for being in a hurry and not examining the notes further prior to submitting. Live and learn. Notes 10 & 11 are of the same series but different signature varieties. The grades are on par with the rest of the Hryvnia denominations. Finally a couple of 20 Hryven notes from the same series with signature/date varieties. All in all, not bad results and it'll be interesting to see what PMG says about the first note, that is if they say anything, but if I could change one grade it would be to give P97s2 an EPQ designation. It really bugs me to see all the EPQ notes in that set and then run into this one none EPQ note, it makes the set feel unbalanced. I'll just have to live with it for now. On another note, I managed to find a 100 Karbovantsiv specimen note to bring me closer to finishing out the 2nd - 5th coupon series notes and I'm contemplating sending in some of my older Ukrainian notes to fill out the front half of my type set. We'll see when I get around to that though as I'd like to see some changes made and I'm not sure PMG is going to agree with me on them, probably not.

There are confirmed examples of T1 and T2 notes of the 1992 issued coupons in denominations of 100, 500, & 1000 karbovantsiv, none have been confirmed of the 200 karbovantsiv notes but I suspect they exist. As far as additional identifying markers on the 100 & 1000 denomination notes, beyond the initial ones posted in Part 1, I don't know but I will begin to study each in turn and will post any findings. Circulated notes of this era are cheap, you can get 100 notes for under $20 including shipping, it's an inexpensive research project that has been a blast and yielded results. The UV ink is a real head scratcher! While I'm waiting for the notes to arrive I think I'll do a little research into the longevity of UV and how it holds up in circulation. All the notes have UV fibers in them and those all illuminate when placed under UV, of course the fibers are embedded in the paper while the ink, if any was used, would be on the surface. My gut feeling is that there are four varieties in this denomination T1 with UV, T1 without UV, T2 with UV, T2 without UV, and the remainders which all have had UV so far, I guess that makes five varieties if you count the remainders, I just don't know the prefix ranges for each and would like to be a little more educated on UV ink. I'd also like to upgrade my UV light situation and will be doing so soon. Awesome!

In further researching the subject of Type 1 & 2 notes of the second series control coupons of 1992, 500 Karbovantsiv notes only, and acquiring and examining roughly 75 circulated notes and a dozen uncirculated, in addition to viewing another 100 or so examples online, there appears to be additional identifying markers between the two variants. Whether these markers are due to plate, ink or production variations is not known, by me anyway, but they have so far held true when used with the original fractional prefix denominator number ranges given in my previous Journal entry for T1 & 2 notes and the initial indicators used i.e., gapping between prefix and serial number and light or dark shading in the area of the prefix and serial number. In addition to the original diagnostics, it would appear that the T1 notes with denominators of 5,6,7,8 &15 were more heavily inked, or a darker ink mix was used in certain areas, specifically, on the face, the word КУПОН (COUPON) and the numerical denomination 500 located immediately below, on the back, the ornamentation has the same light and dark variations. On the face of T1 notes the word КУПОН is darker than on the T2 notes, as is the numerical denomination below, and on the back of the T1 notes the ornamentation around the numerical denominations is lighter than on the T2 notes, also, the central ornamentation on the back of T1 notes is again lighter than on the T2 notes. Also, all replacement notes (denominator 99) seem to be universally of the T2 variety, having the same diagnostics that are associated with the T2's. T2 notes (including replacements) are much more easily found in uncirculated condition which would suggest a common printing date/production after the T1 notes and this would follow an ascending numbering sequence for the denominators. T2 notes with denominator 28 seem to be rare at best, as I have yet to cross paths with one. Of the 75 circulated notes I have 48 are T1's and 27 are T2's, this falls in line with the number of denominators used for T1 and T2 circulating notes, five denominators for T1 notes and three for T2 notes, 5:3, assuming all production runs with unique denominators were of roughly the same size. Unfortunately, even though additional diagnostic markers have been found to differentiate between T1 and T2 notes I am no closer to figuring out what is going on with the UV ink in the numerical denomination and background on the face of the note, as all of the circulated notes either have none or only slight traces of UV in those areas. Most of the circulated notes show no signs of UV, leaving me to believe that it has worn off? The uncirculated notes that I have are too few to come to any conclusions on what notes may have UV ink and which do not. The only notes of this type that have had UV ink in the denominator and background every time are the replacement notes, this would lead me down the path that all T2 notes would also have UV ink since they share everything else in common and yet the circulated notes do not reflect this assumption. More on that later, I hope, as I have another hundred circulated notes from a different source on the way. Just for fun I took a pic of the face and back of a mix of twenty-four T1 and T2 notes, not having been previously identified in this journal entry, and I wonder if anyone wants to take a shot at identifying the T1 and T2 notes in the image. Most of the prefix and serial numbers are covered up so you'll have to use the second set of diagnostics given in this Journal entry to identify them. Although I guess you could go back, using the totals and notes I've already posted, to come up with the numbers. So no cheating. I'll post the answer key later in the week, all notes are in the same location in each picture. Good luck.

Main vignette from the above. That's it.

From the above

From the above

Back of tickets from the above.

Tickets, from the above.

Just got this one not too long ago, some great looking ink from the Franklin Bank Note Co.

The primary background color is usually a dingy brown-grey-green, finding one with a very pronounced blue is a real treat. The blue-green background on the previous 100 Karbovantsiv note I posted is a great look as well! I'm a little torn between the two as the darker brown overprint on the first note really makes the boarder and interior design elements pop, but masks some of the finer details such as the rays and floral design above the Cossack in wreath, and the floral designs upon which the left and right numerical denominations are located. The first note with blue-green background is the better overall note but this one is just a gorgeous looking note to look at, glad I have both. This note is P#38a, the previous was P#38b which could explain the ink variation.

UPDATE: The 2 Karbowanez graded 53 by PMG sold for $2040 at HA yesterday. The same note was offered raw in Jan of 2021 with an opening bid of $2500, it was passed on at that time.

I'd love to come up with a reason to keep it but I'd say this is a spender. Of course I do have several "spenders" in my collection but keep them under the guise of a rainy day fund. So... If you like it keep it.

I'd be better to ask over at the NGC Forum as you'll get more responses but if you want to post it here as well I doubt anyone will care. I'd take a look at any rate, either here or at NGC. Link to NGC forum below. https://boards.ngccoin.com/forum/6-us-world-and-ancient-coins/

+9 = 3,687 20 Hryven +1 50 Hryven +1 100 Hryven +1 200 Hryven +2 1000 Hryven +1 100 Karbovantsiv +1 5 Karbowanez +1 20 Karbowanez +1

The note itself is common but a missing third printing error is unusual. If I was going to guess I'd say it could sell in the low to mid three figures, possibly higher on a really good day at auction. The condition of the note holds it down and I suspect it would receive a "NET" designation if graded. As far as it being worth it to have this note authenticated I would lean yes, just to verify it is an actual error which will help with selling (if that's what you want to do), and if you had other notes to send with it to keep cost down. I don't see any obvious signs of tampering but without seeing the note in hand it's hard to say.

Fr. 2133 I'd recommend getting the latest edition of Friedberg which came out earlier this year, it's the 22nd edition.

Definitely an interesting story, and of recent vintage. I'm not sure when the last time one of the notes was auctioned, you'd think that some of these would have been put up with the crazy prices being realized for high denomination notes. It probably go for mid six figures now. I'd love a chance to get a look at one.

The only Binion notes that I know of are the $10k notes that made up the display at the entrance of the casino, I've not heard of any notes from his hoard, I thought that was all silver. I never saw the display/notes in person, just pics.

All of the 11k number range binaries, except for 0011000 & 0011111.

On Oct 4th, 2022 the Governor of the National Bank of Ukraine, Kyrylo Shevchenko, submitted, to Ukrainian President Zelenskyi, his letter of resignation siting health issues. Shevchenko has headed the country's Central Bank since July 16, 2020 when he was tapped by Zelenskyi and appointed by the Verkhovna Rada of Ukraine. In the past 27 months Ukraine has issued new circulating banknotes in all denominations with his signature, as well as commemorative notes in all denominations of the 30th Anniversary of Ukraine's Independence with his signature, plus the upcoming, 500 Hryven, 300th Anniversary of Hryhoriy Skovoroda's birth commemorative banknote, also with his signature. In his brief tenure as head of the NBU, Shevchenko has sought to modernize the banking system and bring Ukraine more inline with international standards and regulations, he has also overseen the NBU over one of its most volatile times since the country gained independence in 1991, the Russian invasion in February of this year and subsequent war, which is still raging. Shortly after Shevchenko submitted his resignation the Verkhovna Rada approved, on October 6th, resolution No. 8104 dismissing Shevchenko's from all duties, his effectiveness as Head of the NBU will be scrutinized and debated in the years to come but his legacy will forever live on with the 13 banknotes that his signature resides upon. A new Governor of the NBU has already been appointed, Andriy Pyshnyi, who was nominated by Zelenskyi on Oct 7th and appointed by the Verkhovna Rada the same day, making him the 12th Governor of the NBU since Ukraine's Independence in 1991. Pyshnyi promised to continue "ensuring that the central bank remains an independent regulator with strong institutional capacity.", along with focusing on "macroeconomic stability" in the short term. He will also have the monumental tasks of ensuring that the banking system in Ukraine continues to run in a smooth uninterrupted manner during wartime and securing the needed international funding and support from the IMF, U.S. and others for reconstruction and recovery after the war and acceptance into the EU. The schedule for the next production run of banknotes is not known at this time but when they are printed, Pyshnyi's signature will most likely be on them. I suspect it is to late to alter or have new plates made for the scheduled 500 Hryven Skovoroda and 20 Hryven "WE WILL NOT FORGET! WE WILL NOT FORGIVE!" commemorative banknotes slated for December but we'll see what happens. I have crossed paths with some 2022 commemorative Skovoroda notes being offered but have yet to see an official press release from the NBU on the subject so I can't confirm their authenticity at this time. Buyer beware.

+15 = 3,678 10 Hryven +2 20 Hryven +3 50 Hryven +3 100 Hryven +2 1000 Hryven +1 1 Hryvnia +1 5000 Karbovantsiv +1 1,000,000 Karbovantsiv +1 20 Karbowanez +1

Thanks! I've been keeping an eye on some of those Czech notes over the past few weeks and have been drooling on my computer screen. There are some real beauties out there, hope you get to add more than a few to your collection. That is pretty much the strategy I go with as well. The moderns I can usually just wait and pick up what I want, in the grade I want, as they come out. Saves me the hassle and expense of trying to get a high grade modern note, it's just a better way to go if you're patient. Most of the older notes don't live in TPG holders and the ones that do are way expensive, raw is definitely the better way to go on those for the most part. Just sent off a second submission about a month ago now, just waiting for the results now.

I had forgot to mention that but yes, I agree! A registry effect and perhaps a broader acceptance of graded notes in Europe? Or Americans finding graded banknotes wherever they can and European auction houses placating/acquiescing? Probably a little of both. I also think that European collectors are WAY more into varieties than U.S. collectors and TPG's think, they may not be on equal ground but the appetite for varieties is there and is not even close to being sated. I can only wait and see if there is a crash at this point, if prices continue to rise I'm afraid that the truly rare notes will always be just out of reach.

Not me, I got caught up in ASE's when I got into graded coins a four or five years ago but have since abandoned that train of thought for the most part. I do still go after 70's in some of my modern coin sets but that's a little different as the money involved is negligible when compared to chasing notes. The main difference between coins that I chase in 70 grades and notes graded 70 is that I can submit modern coins on my own and be very confident that most or all will come back as 70 and then I can add one to my set and sell the rest for a small profit to be put into my banknote addiction. There is no way I could submit notes with the same success rate, apparently nobody can.