Fenntucky Mike

On 5/23/2022 at 6:22 PM, Love Collection said:

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

That ended up being the final price, $620.50 with the shipping.

Another 70* Ukrainian "Test" note went for $415.50 with shipping. If remember correctly there was around 2,000 of these printed and they were sold in folders as presentation pieces. 1,200 in Ukrainian language folder, 400 in Russian and 400 in English. Something like that.

On 5/23/2022 at 9:32 AM, Love Collection said:

Hey Mike,

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

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. 

On 5/20/2022 at 10:44 PM, Love Collection said:

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 😁

 

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! 

On 5/20/2022 at 6:51 AM, Love Collection said:

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! 🤩😎

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

On 5/20/2022 at 6:51 AM, Love Collection said:

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! 

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. 

On 5/20/2022 at 6:51 AM, Love Collection said:

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.

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.

On 5/9/2022 at 2:18 AM, ColonialCoinsUK said:

No. 5, but the top corners didn't look correct.

Yeah, 5 & 6 are the most convincing IMO. I think 6 is the better of the two but. 

On 5/9/2022 at 2:18 AM, ColonialCoinsUK said:

SNAP! but my meds are starting to work now

On 5/18/2022 at 8:50 AM, Love Collection said:

Congrats on the wins Mike!!

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

On 5/18/2022 at 8:50 AM, Love Collection said:

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

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! 

On 5/18/2022 at 8:50 AM, Love Collection said:

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.

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

+29 + 3,070

20 Hryven +6

50 Hryven +5

100 Hryven +5

200 Hryven +5

500 Hryven +4

1000 Hryven +3

1000 Karbovantsiv +1

The 2021 commemoratives and regular issue notes continue to dominate the population report but what gets me is why people submit fewer of the large denomination notes. You would think complete sets would be submitted. 

On 5/16/2022 at 3:21 AM, ColonialCoinsUK said:

One of the reasons I started collecting more notes than coins was that the coin prices were getting beyond silly, almost 3x, or higher, over the last few years. As my original area of interest was British Colonial issues it rapidly became apparent that the cost of many such notes was just as bad hence Mexico and Latin America (also less well documented and therefore things to discover, and there are plenty that are affordable).

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. 

On 5/16/2022 at 3:21 AM, ColonialCoinsUK said:

A key thing I learnt the hard way from collecting coins was you have to grab some of the rarer items when they appear or that might be it for many many years - and then next time you can't afford it (a pattern gold sixpence instantly springs to mind which would now require a re-mortgage )

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.

+5 = 3,041

2 Hryvni +1

1 Karbowanez +1

2 Karbowanez +1

200 Karbowanez +1

500 Karbowanez +1

Another 2 Karbowanez gets graded, interesting. 

On 5/7/2022 at 6:33 PM, ColonialCoinsUK said:

So I guess that none of them are authentic, possibly one - if this is wrong I claim that it is late here and I have enough trouble reading a small screen anyway

You are absolutely correct my friend, all 6 of the notes posted are contemporary counterfeits.    

Which one did you feel was the most authentic looking? 

On 5/7/2022 at 6:33 PM, ColonialCoinsUK said:

Very detailed study - you should definitely put together the future 'reference' The challenge may be getting auction houses to adopt the findings!

Thanks! The biggest challenge will be me actually doing anything and/or finishing it. I'm a terrible procrastinator and LOVE starting new projects before finishing what's at hand.  

+16 = 3,036 The 2021 issues and commemoratives are still boosting the pop reports.

50 Hryven +6

100 Hryven +3

200 Hryven +3

500 Hryven +3

100 Karbowanez +1

That 24s is a beauty! Czech '60-'64 and '85-'89 issue notes are some of the best looking notes ever made IMO. 

How was the turnaround time at PMG?

On 4/26/2022 at 3:28 PM, ColonialCoinsUK said:

That was a no-brainer as we used to keep lots of axolotls as pets

That's neat! We're they pretty easy to care for and do they like company?

On 4/26/2022 at 3:28 PM, ColonialCoinsUK said:

Now I have to get a graded example!

Definitely! 

On 4/26/2022 at 10:13 AM, ColonialCoinsUK said:

Most numismatic journals seem to mainly cover ancients and medieval now, having said that the IBNS journal seems to publish the discovery of new varieties etc - this may be an option?

I thought about posting this over at IBNS and the "black ink" variety as well, just haven't had time lately. I have to jump through hoops to access their site on my computer for some reason, so I don't get over there much. What did you think about the Mexico 50 Pesos note winning IBNS 2021 Bank Note Of The Year? Second year in a row for Banco De Mexico. That was my first place vote, I went with Scotland and Azerbaijan for second and third respectively. 

Everyone probably knows about this variety but doesn't care.  Not significant enough,  , I don't think so but I'm cra-cra.  

Maybe someone will read this, take up the torch and beat me to it.  Props to them if they do. 

+37= 3,020 

5 Hryven +1

10 Hryven +1

20 Hryven +1

50 Hryven +3

100 Hryven +7

200 Hryven +4

500 Hryven +6

1 Hryvnia +1

1000 Karbovantsiv +7

20 Karbowanez +3

100 Karbowanez +1

200 Karbowanez +1

500 Karbowanez +1

+33 = 2,983

5 Hryven + 2

10 Hryven +2

20 Hryven +3

50 Hryven +1

100 Hryven +3

200 Hryven +2

2000 Hryven +1

2 Hryvni +2

1 Hryvnia +4

1 Karbovanets +1

3 Karbovanets +1

5 Karbovanets +1

10 Karbovanets +1

50 Karbovantsiv +1

 100 Karbovantsiv +2

250 Karbovantsiv +1

500,000 Karbovantsiv +1

1,000,000 Karbovantsiv +1

20 Karbowanez +1

100 Karbowanez +1

200 Karbowanez +1

On 4/18/2022 at 4:26 AM, ColonialCoinsUK said:

I think a longer term question is whether NGC/PMG will recognise such varieties of world issues on the label, as they do for US issues?

Doubtful, at least based on past experiences with coins. No matter how much I would like for them to do so it is not really their job to identify new varieties that are not already listed in a published reference. Their core function is to authenticate known banknotes/varieties. I'll still contact PMG and present my case to them, but I'm not hopeful. 

With the fall of Krause and the Standard references seemingly stagnating where else can one go in hopes getting new varieties added to the list?  World coin collectors were always at a disadvantage when it came to places to turn for verification of varieties or errors, when compared to U.S. collecting resources, but when you're a world banknote collector you're really are out on an island. 

On 4/18/2022 at 4:26 AM, ColonialCoinsUK said:

A friend was recently shocked to find out that countries did not have perfect records of all their coin and banknote production given it was money

It's a shocker, I know.  

Quote

As I am now adding banknotes to my collection my first Journal entry over here at PMG detailed a 1915 Mexican 'dos caritas' 10 pesos from Chihuahua .

During a recent clear-out I came across some things from ~40 years ago which was when the interest in all things numismatic started. Among the British colonial coins (all common and low grade ) I was surprised to find I had kept a reproduction of a Mexican Revolution 10 pesos banknote from Chihuahua.

I guess that means I have been interested in the period for longer than I thought. A bit scary how things work out but I suppose that means I am on the right track and now I just need an example of the real thing!

 The Fates do toy with us sometimes. 

I saw the Jersey and Guernsey notes over at CT, anything else turn up? 

+120 = 2,950 

2 Hryven +2

5 Hryven +1

10 Hryven +1

20 Hryven +3

50 Hryven +16

100 Hryven +26

200 Hryven +24

500 Hryven +15

1000 Hryven +17

2 Hryvni +2

1 Hryvnia +5

100 Karbovantsiv +1

20 Karbowanez +1

100 Karbowanez +1

50 Shahiv +1

10 Shahiv +2

20 Shahiv +1

40 Shahiv +1

The 2021 new signature varieties and the commemoratives are starting to really flow in now for grading causing the big jump this week. This also leapfrogged Ukraine into the top 100 countries on the PMG population report, out of the 245+ listed.

Do you think some of it is bleed through from the font of the note or just looks darker in those areas due to the design on the front? I can see the shadow of the front in the margins, of course the front vignette and boarders don't match the darkness you're seeing in the columns between the denominations and upper left 10.  You're probably right about the ink being mixed in/not cleaned off. 

It probably does drop the grade a point, maybe, the note has some staining and what looks like some paper loss at the bottom right? EPQ is questionable to me, I think it's out the window, and more like a 60.

On 4/6/2022 at 12:06 PM, Iowa Silver Baron Bammer said:

That's my big problem, my eyes are bigger than my wallet.

Ditto.  

On 4/6/2022 at 12:06 PM, Iowa Silver Baron Bammer said:

But I'll keep plugging away as it's sure nice to be back.

Welcome back! It's pretty dead here so I hope you don't get discouraged by the lack of bodies. I don't collect Mexican or Latin/South American banknotes but l am looking forward to seeing more of yours and learning a thing or two. 

On 4/5/2022 at 9:35 PM, Iowa Silver Baron Bammer said:

Mike, are you referring to the note I posted??

I was and the 5 pesos is even better! The centering on the 10, while not ideal, does not significantly detract from the note IMO but could drop the grade one full point. I think it does or at least a half. It's impossible to make a solid determination of a note's grade based solely on pictures, especially scans, but if I was to make a wager I'd say the 10 pesos is around a 65 and the 5 pesos 67. I'm usually on the conservative side when it comes to grading. I would say PMG seems to grade fairly when compared to my own standards, I rarely disagree with a grade given, some would say that they tend to grade loosely but I think most people agree that the grading standards are less stringent today as compared to 10 years ago. The same seems to be true for coins as well.

On 4/5/2022 at 4:00 PM, ColonialCoinsUK said:

Having said that sets of control letters, stamps etc would probably be more suitable as a Signature Set and no doubt require submission of lots of notes for grading - this would be fantastic to see and an immense challenge with more than 1000 notes .

God, that would be one hell of a set! I'd love to see a comprehensive collection of dos caritas like that one day. 

Quote

 I have fondness for both and would really like to see the revolutionary sets back.

That is one gorgeous note you posted.  If that note speaks to the quality of your collection I doff my cap to you sir. 

On 4/5/2022 at 11:02 AM, Iowa Silver Baron Bammer said:

Fenntucky Mike, what revolutionary set do you see. It must be in with the regular Mexican sets?

Yep, it was with the regular Mexican sets, listed with other Specialized Issues. I believe the La Tesoreria de la Federacion, Guaymas, Law of 1913, S1058-S1061 is listed as a revolutionary issue in the SCWPM. If true, I think PMG would have no problem adding additional Revolutionary Sets. I also think that PMG should create an additional section for these sets, separate from the specialized issues but.  They probably would if you asked them.

Even though there are no available sets for the dos caritas notes there are quite a few Mexican specialized note sets, I imagine that if you requested an El Estado De Chihuahua set PMG would probably acquiesce. Especially if you had the graded notes to warrant a set like that. At any rate I agree with you in that PMG should add more Revolutionary sets, I only see one at the moment. 

Quote

Oh, I still think the gentleman on the right looks like Captain Kangaroo. Does anyone else see it?

  Ha! He's just missing those sweet feathery sideburns but yeah!