Fenntucky Mike

I generally agree with your points, especially the lower priced notes blowing away estimates, but I'm not sure I'm seeing the high end stuff missing estimates as much as you're describing. I don't really pay much attention to the market for U.S. notes but most of the high end world notes that I do keep any eye on are still beating estimates for the most part, often by multiples. I'll add that U.S. obsoletes have been bringing in strong money for the last year plus, most of these fall into your lower priced stuff range <$500 and seem to be growing in popularity. The seaming shift or split your describing between high end notes selling for less and low end notes for more is interesting. I've been feeling the pinch in the lower priced stuff as that is my typical price range, but if the higher priced notes are seeing a decline in interest it may be time for me to swim to the surface to spear one. I have my eye on a NBN going to auction next month, the note has a good sales history for which to track price and it'll be interesting to see how much it goes for. 

This was interesting and funny. 
https://www.eco-business.com/news/new-clean-burning-joss-paper-claims-to-reduce-air-pollution-at-chinese-religious-festivals/ 
 

Looks like the NNP is going to host several presentations to coincide with the Central States show and there are actually a few on paper money. Finally!  Currently there are four presentations scheduled that will cover different types of paper money, I'm definitely going to try and catch the Higgins Museum of National Bank Notes talk and hopefully one or two of the others. Below is the current list of scheduled presentations. 
https://nnpsymposium.org/schedule 

I have to study the auction results in detail and go over them more in-depth...but after watching a few dozen auctions last night besides stuff I considered bidding on, the following observations:
Lower-priced stuff is attracting lots of bidders and stuff is going ABOVE the HA estimates.  This stuff is affordable to folks with $50 - $500 or so. Higher-end stuff sells, but lots of stuff wasn't reaching the HA estimate.  I saw some stuff like Gold Certificates and other special bills sell for under the HA estimates and in a few cases 30% or more BELOW what they sold for 15-20 years ago in some family auction of bills.  Very surprised to see stuff not at least matching a sale from that long ago....there wasn't a bubble in currency that I know of, so you would think unless a bidding war broke out that today's sales should match/exceed prices from that long ago.  Older GCs and SC's continue to get strong bidding in medium-to-low grades.  Not my cup of tea but folks like these and other larger bills. $500 and $1,000 bills in medium and lower grades selling for 3-4x FV.....high-50's and mid-60's you have to pay up 5-7x.

Heritage has weekly auctions for BOTH U.S. Currency and World Currency.  Usually separate, if they have enough volume.
It's fun to watch the bidding even if you don't participate.  Check the results to see market values for various bills.
Here's tonight's:
https://currency.ha.com/c/search/results.zx?term=gold+certificate&si=2&dept=2021&live_state=5318~5319~5322~5320~5321~5324&auction_name=142413&mode=live&page=50~1&ic=KeywordSearch-A-K-071316#
 
 
 

It's The Bizzaro Land....a worthless currency worth lots in pristine condition if graded and holdered. 
Me Like Currency....me give you three $20's for a $10 !!! 

PMG 66 notes seem to regularly sell for close to $150 on ebay, a 70 note might sell for over $500, maybe close to 1k. 
Surprisingly there still seems to be demand for these things, I'm still holding out until the price drops. It's been several years now. 

I corrected an acronym typo:  I typed "SN" when I meant to type "SC" for Silver Certificate when talking about 3 traits.  Just in case anybody copied SN and it carries over.

I saw alot of them at FUN 2020 and they weren't cheap.  I'm like....who the hell is buying these things ?  I recall it wasn't like $50 or so for a 69 or 70 but closer to $200 I believe.
Call the Justice Department, they have time to go after MSFT, GOOG, AAPL, etc.  

Pretty low percentage of these in 65+ based on my observations. Granted I'm on the outside looking in as I don't specialize or collect NBN's really, only a few notes I'm interested in from specific banks/areas.
I'd don't know about that, the number of serial #1's I've seen would seem to contradict that conclusion, but as I said there were thousands of Banks issuing NBN's so percentage wise the number of saved notes with fancy number could be very low I suppose. I wonder if or how many were saved as they were pulled from circulation?
I think someone, an organization, may actually track the serial numbers, The Society of Paper Money Collectors, Track & Price, Greensheet? 

The problem is that they should be as there seems to be lots of straps and bricks of them for sale on the internet. Most at ridiculous asking prices. This is probably one of the top five notes graded by PMG, if I had to guess. 
I will give sellers a pat on the back for keeping the supply artificially low and demand up for these though. That's what it seems like to me at any rate.

Surprisingly, those Trillion Dollar Zimbabwe notes aren't that cheap in Mint Condition !!  

Good article....bringing it back for anybody who missed it...and also to push the SPAM off the 1st page. 

Hi Julio,
Welcome to the PMG forum! I think your correct with that grade range, 4-8, I did a quick search of sold listings at Heritage Auctions and one of these(France, Pick # 74) graded EF40 by PMG, with a France Pick # 131b (PMG 50) sold for $264 on June 20 of this year. I would put the value at under $20 from what I've seen in my quick searching.
https://www.ha.com/c/search-results.zx?Nty=1&Ntk=SI_Titles-Desc&Ns=Time|1||Lot+No|0&N=790+231&Ntt=france+20+francs+1916&ic4=SortBy-071515 

https://www.worldbanknoteauctions.com/ 
They, WBA, typically have a good selection of notes, including U.S banknotes. They sold off a few large collections from some prominent collectors but it's unusual for them to have no current or upcoming actions listed. I've picked up many a note from them and the prices are not outrageous normally, you could usually score a good deal once and awhile. 
Here is a link to their past auctions. https://bid.worldbanknoteauctions.com/auctions/past 

They haven't had any auctions running for at least the last two weeks, wonder if they just ran out of material or if something else happened. They don't have any upcoming auctions listed currently, website says they are working on their next catalog, I guess we'll see when the next auction is, they were running one every two weeks or so with then next one ready to go. 
I've bought several notes from them over the last few years, they usually have some decent notes for sale. 

Yep. Sorry if that wasn't clear OP. 
The notes definitely look like they have lots of creases in them, maybe the OP can side light the note and post a pic. For a note like this I'd consider a note that was trifolded over one with creases running though the whole note, the trifolds would miss the portrait and probably miss the seal and "1 Dollar" overprint. 
More if the OP is sending them in themselves and these are the only two notes on the submission. If they can find a dealer to send these in with a bulk submission then cost might not be too bad, depending on what the dealer charges to send notes in for you, even going that route the cost would still be close to $30. 

FYI,
The notes in the OP are Fr.238, Woods & White sigs.

Hard to tell if there are any folds from those images. For the sake of argument let's say there are no folds in the notes, the problem is that I see discoloration/soling, rounded corners, lots of handling creases or wrinkles, and average centering. I would not send these notes to PMG for authentication and grading as they will not receive a lofty enough grade to offset the grading costs. 
A sequential pair of these sold a Heritage Auctions in December for $198, another consecutive pair with different signatures sold with a third note for $360 this month. Your notes look to be in worse condition compared to the notes sold at HA so I'd put them in the $50 - $75 range as far as value goes. 
Can you provide a link to the listing? 

I like to study monetary history -- yup, read Friedman & Schwartz' magnus opus in college  -- and doing some readings the last year or so with books spanning the gold standard to 1921 Recession and The Great Depression.

The changes in the writings concerning gold, silver, and legal tender are fascinating. Even as a young collector (or spender of bills !  ) I never really paid too much attention to them but you can see there are big differences and the changes over the years WERE important.

Here's a Gold Certificate, and the seal writings clearly state you are entitled to Gold...and the writing at the bottom of the obverse says gold coin (Eagles, DEs, etc.)



Notice that it is good for ALL DEBTS with no exceptions.

Next we have a United States Note (Red Seal) which states it is legal tender....for all debts public and private.....but then says "except duties on imports and interest on the national debt."



Why these obscure exclusions ? Because the Treasury didn't want a gold drain out of the U.S. so NOT allowing these to be used for duties on imports and interest on the national debt helped towards that goal.

Next up, a 1928 Federal Reserve Note which says that is was redeemable in gold...on demand....at the U.S. Treasury (so you had to goto Washington, DC I guess).



What I find interesting is that at 1st glance this bill looks like a hybrid: it's a FRN...it's worth $20 dollars ("bearer on demand" language at bottom)...but it has the quasi-gold certificate language above the seal. But while you could get gold at the Treasury, it's unclear if the FRB's that you went to could pay you off with gold or a pair of $10 bills at their choice... or your choice. Again, unless Federal Reserve Bank means a MEMBER bank, then FRB means you would need to goto 1 of the 12 actual physical locations which would be a PITA. 

Lastly, after we went off the Gold Standard we have this FRN which says that the note is legal tender for ALL debts public and private with no exceptions regarding national debt or imports.

I guess "redeemable in lawful money" (isn't this bill lawful money ? ) means a pair of $20's and a $10 bill. Also known as....change !! 

 

GF (GoldFinger). 
Some people collect notes by block letters, and certain combinations in some years had very short print runs making them much more difficult to find and desirable to the right person. Also some people collect notes with block letters L & A (Los Angeles), by state initials like A & L (Alabama), or G & F (Gold Finger). Maybe. 
I believe the first block letter on current U.S. currency, $5, $10, $20, $50 & $100 notes, does correspond to the FRB. All of these notes will have two block letters at the beginning of the serial number and I think the first letter matches the FRB letter code. Modern $1 & $2 bills don't have two block letters at the start of the serial number. 

I paid over $200 for this one.  Hopefully it's held its value since I got it about 5 years ago :

I have 1 or 2 NA's I think, Mike.  I'll post them in the SC thread today or this week or create a new thread if it isn't a SC type.