Fenntucky Mike

Well, I finally hit the 50% completion mark in my Ukraine Complete 1917-Date, P1-Date set and here's the note that did it the humble P#81a. Ahhh, always feels good to hit a milestone along the way in your collecting journey. I acquired my first Ukrainian banknote back in 2017, my first TPG note in 2018 (I can't even remember which ones they were now), started my registry set here in 2019 and hit 50% completion this week. It's been a great experience so far, I've learned more about banknotes, banking/finance, history and Ukraine than I ever thought I would. I've expanded my contacts in regards to people (some in Ukraine) and places to acquire these notes (some are hard to find). The people at PMG are always nice and helpful and the people here on the Forums have been great so far, I'm getting way more out of this than I thought I would. Thanks everyone. Next goal? I'm thinking 75%, if I can get there in the next 2 years I'll be doing alright. I might include completing a short Zimbabwe set in that time frame as well, we'll see. I have a couple of Journal entries roughed out, I'm just waiting to get a few things back in the mail and to see how a couple of things fall in place this week. There could be some interesting developments happening in the next week with this set.

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.".

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.

So using the seal to fourth digit identifier would not be accurate 100% of the time, you would also need to take into account the font, spacing, tilt, "rubber stamped" look etc.? Are there some instances were there are no discernible differences between a normal production note and a replacement?

That's neat, having all the varieties. That was a hell of a get, I think. 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. 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 did. It looks like it was a short sale, it's back at $1,000. I'm guessing it'll follow the same sequence as your P-1d until someone is willing to pony up. The only question now is how low will it go.

I'm looking at the new $20 now and since you mentioned it, yeah, the elephant is not depicted well. The legs seem to long, the body is baggy, ill defined and to offset to much to one side and the head looks to small. That being said, Hmmmm, I think I like the new $20 reverse better than the P-4. I like the perspective better on the new $20.

That is too funny! Sounds like you had/are having a good day, being around family and everyone's happy and well, that's the best. Getting a funny story out of it, well that's the icing on the cake. The note is pretty cool and a really good gift to boot. Congrats.

When I first started collecting Ukrainian banknotes, three or four years ago, the first purchase I made was the Standard Catalog of World Paper Money (Modern). hereafter Krause. This book gave me the general information I was looking for, what did some of the notes look like, how many different notes are there, etc.. This basic info gave me an idea of #1 did I like the notes (are they interesting and attractive to me), #2 how much was this going to cost (how many different issues and how rare), #3 how long will it take and will I be able to obtain most of the notes (availability). I then used the information in Krause and cross referenced to online sources like eBay and a few different auction sites to verify availability and cost. Once I had answered these questions to my satisfaction I went out and made my first Ukrainian banknote purchase and then my second, third and so on. Once I was about three months in I thought "I still need more information" on these notes especially the pre 91' issues, so I went out and found a few more references to add to my collection (Make no mistake about it, a book about banknotes that you collect IS part of your collection.). As I collect these notes the process continues, get a few notes, get a new reference. I have absolutely spent more time reading (and writing) about these notes than I have spent looking at them, at least 10 to 1 probably way more than that. Which makes me wonder what I enjoy more studying/reading about these notes or actually owning them (A Journal for another time perhaps?). At any rate, the trigger for this entry was that I bought another reference this morning (and I'm still kind of annoyed about the "mushroom" watermark thing), the 2010 NBU Banknotes and Coins of Ukraine for the year 2010. Hopefully this entry will give any new collectors an idea of what they could be getting into and if there are any current or new Ukrainian collectors out there, I consider all of these "must haves" for your collection. PMG if you don't have any of these you may want to add them to your library, just saying. Krause: Good for general information, a good first purchase. Wonderful book, in English. Includes Ukraine along with several Eastern Bloc countries. Full color pictures. A great "pocket book" it's small (8"x6"x1/2") so it's easy to carry around. Cyrillic with English captions. Full color pictures. The most thorough book on Ukrainian banknotes there is, lists every known banknote printed including issues specific to banks and territories including during periods of occupation. All text is in Cyrillic but if you can learn a few key words (or use google translate or similar software) you'll be all set. Full color pictures. The NBU issued catalogs of all coins and banknotes produced in a said year (they stopped in 2013 I think). These are great with descriptions and numbers direct from the NBU. Cyrillic and English, full color. This is a downloadable .pdf, it covers the modern issues. Not a bad issue, if you wanted to skip Krause and go with this you'd be alright (has Pick #'s for reference). Full color. Downloadable .pdf's from the NBU. The NBU issued a new catalog in 2019, (for the first time is several years) FREE, and downloadable in English. Full Color. Finally the NBU website is an invaluable source of information for modern notes, including detailed security descriptions, the website has Ukrainian and English versions. I probably have a few more but I'd have to look for them. I tend to have these books scattered about, as I reference them so much. Here's another, Banknotes and Coins of Ukraine, Cyrillic so bring your translator.

Thanks, Pictures with instructions always help me. Is using the Seal the most reliable diagnostic because it is overprinted with the serial #? Is the "tilt" of the serial # an indicator? Sure, I always like learning new things. I have some NBN's but have spent almost zero time learning about them, hope to start getting serious about them next year sometime.

When I do get that 50 it's going to be great! Even better if the price goes down instead of up. I'll probably hang it on a wall, or put it in a picture frame on my desk so I can bask in it. It's not entirely self restraint and common sense that has me pushing this note back again. One of the big selling points to myself is, "Well. Do you want just one note for $X or do you want several really good notes for $X? Hmmmm... ". I can usually sell myself on more is better.

So I'm really torn here. As some may know I've been selling off some of my duplicate coins to acquire funds to purchase a particular banknote (Pick 125, 2011 50 Hryven Commemorative), see Journal entry "Right now! Catch that magic moment, do it right here and now?". I've been wrestling with this since July, I've hit the total needed to get this note probably 3 times and each time something else came up, i.e. a coin or a run of banknotes, etc.. We'll here I am again, I hit the target amount to buy the 50 Hryven note and guess what, a slew of notes pop up from multiple sellers that would be great in my collection/s, aghhhhh! Soooo, now what? Do I get the 50 Hryven, bid on about 8 different banknotes that are now available in auctions or both. Then if I buy the 50 and place bids on the others, do I make serious bids to try and get all the notes? This is killing me, why, why, why! I think the most sensible thing to do is, again, pass on the 50 Hryven note and place serious bids on the notes I'm eyeballing. I know the 50 will wait but my big fear is that it will continue to climb in price, last I checked it was running around $650. I hate pushing the 50 to the end of the line again, but I think it's the right move, right now. On a side note, one of the latest additions to my collection was this 1920 (No Date) 5 Hryven note with "P" on the back. There are a few varieties/errors with this note. Variety one, large ПЯТЬ (FIVE) on the reverse (about 16mm in length). Variety two, small ПЯТЬ (FIVE) on the reverse (about 13mm in length) which is what my note is. Error one, "P" missing from ГРИВЕНЬ (Hryven) on the back, which is why "With "P" on Back" is denoted on the label of my note. Finally error two, where the Obv and Rev images are inverted. There are no known specimens of this issue, the paper has "mushroom" watermarks. I haven't looked but I'm assuming that Krause does not have a watermark listed for this note and that is why PMG did not call it out on the label. This always bugs me to no end, that PMG and Krause (or whomever) don't communicate more on their own in regards to improving descriptions and/or discoveries (rant over). Note in PMG Holder: Varieties: Watermarks "mushrooms":

Lol, all in good fun my friend. I'll be waiting... It would be hilarious if you did get a "nothing box" as a gag. Have fun.

In addition to foreign banknotes I also collect Obsolete and NBN's from the State of Michigan and I recently picked up this beauty. It's not in the best shape but the price was right and the $3 notes are always hard to find because of the "nonstandard" denomination (the $3's are the most popular because of this and harder to find). It's not a real attractive note in regards to the design, a simple geometric design wreathed in a stylized floral design was used for the left and right dies, then a depiction of an eagle for the center image. The eagle is not well depicted, with an overly large body in relation to the wings and to put it politely is "ratty' looking. Especially when compared to a similarly depicted eagle on say a 1918 FRN. These "Wildcat" Banks began popping up in 1837 (Michigan was admitted to the Union on March 15, 1837) shortly after the first Michigan State Legislature session ended (March 22nd). During the first session the General "Banking Law" was passed and went into effect on March 15, this law authorized any 12 persons to make an application to the treasurer of the State for a bank. The capital stock had to be at least $50k and not more than $300k and 30% of this capital had to be in specie by the time of commencing operations. But due to economic hardship, over-trading and mismanagement a large amount of debt, nationally, was accrued, as a result the specie would not meet the outstanding debt. Reacting to this, eastern banks got their states to suspend specie payments this caused a drain of specie out of the State of Michigan so on June 22, 1837 specie was suspended by the Michigan banks enabled by an act of the Michigan legislature. The suspension of specie payments meant that unscrupulous individuals could open a bank/s without having to redeem the bank notes until May 16, 1838 when specie payments were to resume. The state legislature sought to curb this by appointing three bank commissioners instead of just one and have them examine the books and specie of said banks. The examiners found that instead of actual gold and silver, specie certificates were being used and were given by bank officers as a receipt of specie being held on deposit. Also "borrowed" specie was often used and then returned by a fast courier. One such instance of borrowed specie involved another Allegan County wildcat bank, a local Native American was transporting the needed specie, to present to an examiner, from one bank to another but the canoe he was traveling in capsized and the specie fell to the bottom of the Kalamazoo River (another story for another Journal entry). The Bank of Allegan (Organized Dec 30, 1837 - closed 1839) was one of many banks that began operation during this time, it was formed using "borrowed" specie. The opening and closing of this bank falls nicely into the "wildcat" timeline, around $100k was "poofed" when the bank closed.

Well after much foot dragging (and a little prodding), BAM!, I created a set for my Zimbabwe (new dollar) notes today. I must say the air is fresh and crisp up here at the top, (deep breath) ahhhhhh (thumbs firmly hooked onto suspenders *SNAP!*, hands on hips and looking stoically into the distance from atop the Registry.) . I recently purchased the final three notes I needed to complete the set, the $2 & $5 Bond Notes and the new 2020 $20 (say that three times fast). They arrived today, no big surprises on the Bond Notes as they are almost identical to the 2019 $2 & $5 issues the only difference being the serial number, date and the words "BOND NOTE" on the front and back. I haven't done a side by side comparison of the Bond Notes to the new dollar notes yet but as I now look at photos of both there maybe a few additional differences that I'll have to checkout later with a loupe and the notes in front of me, more to follow on that. I was hoping to complete this set in 68 (and I still might) but I'm impatient sometimes and well with a $2 PMG 67 sitting there at a reasonable price and a pocket full of eBay Bucks I didn't want to wait, I'm more than happy with both. Here are the Bond Notes. The real surprise to me was the $20 note, it just doesn't look as good 'in hand' as it does in images. It's not the graphics, all the images look crisp and well detailed, it's the colors. The blue just does not look as 'blue' as in images and the yellows just seem to detract from the blue even more, while the yellows/off whites just seem dingy. I don't know if it's the color combination of blue and yellow/off white but the note just looks musty and aged, like one of my notes from the 1800's. I'm not saying it's ugly but to me it's definitely the weakest note of the series when it comes to eye appeal. I suppose there could be several factors, not being able to see something in person before you buy it, doctored images or maybe the settings on my monitor are off, who knows. The other surprise with this note, in general not specifically this one, are the relatively low grades they seem to receive. I don't think I've seen one over 67, for a modern note that is low. Again many factors in play there like sample size for one, but who would know since PMG doesn't post populations of unlisted notes in there reports (sorry, getting off track here). Since I haven't seen any $20 notes over 67 I decided to pick up a 66 for now. Overall I'm happy with the note, but I was kind of considering this as a place holder until I could find a 67 or 68 in a year or two, now I'm not so sure... I think I'll take my time and ponder this question from the Top of the Registry Set. P.S. PMG should be assigning a point value to the $20 slot soon as I tried plugging it in today. Update: Done! As I was typing this Journal Entry, PMG updated the slot.

Awesome! Can't wait to read about it.

I think you're right, no takers on that $5 70EPQ at $995 I'd be feeling BIG TIME buyers remorse if I was the person who bought the first one.

You could say that. I thought about that 69 for quite awhile, I've been watching it for at least 3 weeks. I hated not having this set complete, all those notes popping up everyday and a pocket full of ebay bucks.... I couldn't take it any more , I wanted to finish the set. Now that I have those holes filled, I'll probably never think about that 69 again. Well not as much anyway.

Ha, if it was that $20 66EPQ then yep that was me. I was looking at a 69 $5 and I just couldn't justify the price, even with my eBay Bucks to offset some of the cost. I figured it was better just to go with a lower grade and kill two birds with one stone, in the end I'm just looking for some quality examples. Like you said the odds of these increasing in value is not good. If there were like 25 registry sets I might have been willing to take a gamble on the 69 as an investment but right now it's only you and soon to be me.

Ha. I'm just dragging my feet on getting them into the registry. I got kind of side tracked with Isle of Man coinage, so I've been spending my time on that. I'm kind of shifting back to banknotes again so I'll probably get the set started on PMG this week, maybe next. I have the $2, $5 and $10 in 68 I've been waiting for a $20 but just haven't seen one in the grade I'm looking for, I was kind of waiting to get the $20 so that, BAM, I could just post them all at once. We'll see, I just used my eBay Bucks to get the $5 Bond note.

You've probably already seen this but another $5 70 EPQ is for sale on eBay, starting price $955.55. I'm watching it, let's see if it sells. I'm suspecting bigtime buyers remorse for the person who bought the last one. Apparently getting a 70 is no big deal with these notes. The new notes are still not listed in the population reports If this note sells for that price or higher, then I have to conclude that there was something going on with the $2 listings. I don't know what else it could be, we'll see.

Awesome! glad I didn't jinx you on the grade. LOL, nice find.

The second 70EPQ $2 sold for $399.99 (same price as the first $2 70) with one bid, significantly less than the $5. This has me scratching my head, I don't get why the $5 would sell for that much more. I feel like there is something going on with the sellers listings, seems like they are not showing up in searches very well. Yep, I just can't bring myself to spend close to those amounts for a 70, at least for these notes. I have a hard time believing these (if a person was purchasing for an investment) will appreciate in value. If people are buying because they enjoy the notes and have that level of disposable income, then more power to them. Hope to see these in the registry some day.

I wasn't planning on a Journal entry today but what the heck, I saw something that just got the juices flowing, mostly jealousy. While wrapping up my morning browsing of eBay I enter my final search "Zimbabwe PMG". Sort, "Time Newly Listed", check. Scroll, scroll, scroll,wait what! Back, back, back, ooooooh! A PMG 2019, 70* EPQ Zimbabwe $2 banknote, sweet. I hadn't seen or noticed this note earlier in the week, as it looks like it was posted several days ago, with a little over a day left in the bidding. It's listed by a seller I've purchased from before in fact this is the seller I purchased my Zimbabwe $10 note from, another listing that seemed to pop out of nowhere as I didn't see that listing until the day it was ending. Seems that I have a propensity for passing by this sellers listings, anyway. This "70" comes on the heels of a PMG 2019, 70* EPQ Zimbabwe $5 banknote that sold a few weeks back for $1,026.02. As I write this, the available "70" $2 note has a starting bid of 399.99 with no current bids. (Damn it, I just did an advanced search and the current listing is the second PMG 2019, 70* EPQ Zimbabwe $2 banknote this seller listed, the first listing ended a few weeks ago with 1 bid and final price of $399.99, a steel compared to the $5 "70".) These "70" notes got me thinking, first that someone will or could have a chance at a real sweet "70" set, how much will this one go for, how often does a ""70" happen, better document this and wish I had a "70". In that order. The chance at a perfect "70" modern set (short set), that would be quite an accomplishment (and expense) if someone could do that. The cost of a "70" note is typically astronomical, the hammer price on the $5 note blew me away, comparatively speaking, $400 for the $2 note doesn't sound so bad. This (low hammer price, along with me consistently overlooking them) makes me think this seller is doing something wrong or eBay is screwing them, In my mind there should not be a $600 difference between the two ($5 & $2). A "70" for a modern banknote is not like having a "70" modern coin, a banknote in that grade is WAY more difficult to find, for example as I look at the PMG population report for Zimbabwe there are currently 2 listed out of 13,242 total notes graded, going back to 1980. The unlisted Picks, which include the 2019 issues, are not currently listed in the population reports (a RANT for another journal entry). In series that I collect, I like to catalog the higher grade notes that I do not own (I extensively catalog the notes in my collection), this helps me keep track of them in case I win the lottery in the future and it gives me a standard to hold my own notes to. I'll save images and sell prices for these notes and compare them to my own, this helps give me an idea of value and gives me a "70" example to compare ungraded and lesser graded notes to, theoretically honing my grading skills. Finally.... Man, I wish I had a "70" (stomping feet and crossing arms)! Nothing like having a supposedly "perfect" note (I have none), maybe someday but not this note, even though I feel there is value here if some entrepreneurial minded person wanted to invest and flip it at a later date. To whomever ends up with this note, it's a beauty and you'll have "The best! Around!". Going to watch "The Karate Kid" now, (original version) My highest graded note/s is/are a 68 EPQ, here is one of them. P.S. A 2020 PMG 68 EPQ Zimbabwe $20 banknote has been proving elusive so far, they don't seem to be grading very well.Just going to have to wait it out.

I've seen that one, I did a double take, said "No WAY", and moved on. The gold foil took me a minute before I came to my senses. I would consider picking up one of each, if the price was right, to add to my collection. For sure. I forgot about those, thanks for posting them. The Zimbabwe Million, Billion and Trillion dollars notes are some of my favorites to pick up in circulated condition. If I find a 10 pack of any of them, for a buck a piece, I'll pick them up and hand them out (Halloween maybe) or leave one with the tip. Anyone else have some "Fantasy Issues" ,in their collections? Feel free to post'em. This might be a good discussion for the chat boards (If anyone was there).