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GSA_Gem_Quest

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Journal Entries posted by GSA_Gem_Quest

  1. GSA_Gem_Quest

    Compounded Fun

    By GSA_Gem_Quest,

    Almost impossible to find, this Compound Interest Treasury Note was a recent addition to my $10 large size type note collection.
    81% complete after this addition, acquiring the remaining notes is a difficult and expensive task. Low grade net notes are my best hope, and I recently acquired this note on eBay. For the grade, it looks really nice. What say you?

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  2. GSA_Gem_Quest
    My $5 Large Size Note Type Set Is Now Complete
    I finally got the last Educational Note, a $5 Silver Certificate from 1896 that ranks as number 5 in the book 100 Greatest American Currency Notes by Q. David Bowers.
    This note also completes my $5 Large Size Note Type Set. It has been a fun journey building the set. It's not going to win any awards for points, but it is the first set in it's category to be 100% complete.
    The note appears appropriately graded, but has the look of a higher grade. The spectacular design is one of my all time favorites.

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  3. GSA_Gem_Quest
    Thrilled and Disappointed at the Same Time
    I bought this 1890 Treasury Note professionally graded by PCGS as Very Fine 30, and crossed it over to PMG for my $5 Large Size US Currency Type Set. It came back upgraded to 35, but downgraded to Net for repairs.
    After a close look, I can see where it was repaired. It was very professionally done and does improve the overall look of the note. I was thrilled to get an upgrade to 35, but disappointed to get the downgrade to Net. I can understand a difference of opinion between 30 and 35, but I think PCGS should have been able to spot the repair. Makes me wonder how closely they look at the notes, and how much time they spend on each note in the grading process.
    I really like the note and am going to keep it, but I will have second thoughts about buying a note professionally graded by anyone other than PMG.

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  4. GSA_Gem_Quest
    General Hancock Rides Again!
    I really like the design of this Silver Certificate note, very ornate on both front and back. It is a mid-grade note designated with exceptional paper quality, and fits nicely in my type set collection.

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  5. GSA_Gem_Quest
    Could you live with pinholes to save $1,000?
    This beautiful $10 Brown Back is from the National Bank of Commerce in New York. It is signed by non-other than J.P. Morgan himself, signing as J Pierpont Morgan on the note.
    It is interesting in several respects. First, it has two pinholes, one in each top corner. I imagine that the note may have been pinned to a bulletin board at either a bank teller station or a bank executive's desk or cubicle area during the late 1800's. It never circulated and probably would have graded higher if not for the pinholes.
    Second, I bought it ungraded, knowing it had the two pinholes. I chose not to try to repair or restore it because I like the idea that it was probably used at the bank to detect counterfeit notes.
    Third, I probably paid about $1,000 less than market value for a similarly graded note without pinholes. What is interesting to me is that it was not graded NET by PMG because the pinholes were evident and no one tried to hide them. If the pinholes had been repaired, it would have graded NET - Closed Pinholes.
    Would you live with pinholes to save a $1,000? I think you know how I would answer the question. I love the note as is!!

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  6. GSA_Gem_Quest
    Independence Day For More Than the U.S.A.
    On this day we celebrate our independence in the U.S.A., another country half way around the world is celebrating theirs. Democratically elected President Morsi was overthrown by the military in Egypt and a new government is forming. What does the future hold for this nation that many think reached its peak power over 3,000 years ago? Only time will tell.
    King Tut was another ruler of Egypt whose reign ended early. He was Pharaoh of Egypt for ten years, but died under mysterious circumstances at the young age of 18 around 1323 B.C.
    This colorful note celebrates the ancient culture of Egypt, with a picture of King Tut on the front.

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  7. GSA_Gem_Quest
    My Next Vacation?
    First, thank you PMG for adding world note competitive registry sets to the Collectors Society experience. The variety and richness of world note designs really brings to life the history and people of other countries.
    This note from the French Pacific Territories is like an ad in a travel magazine. It just makes you want to go there!
    This is from my first world note registry set. I consider the set done, since I have one note for each Pick number.

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  8. GSA_Gem_Quest
    Bison Added to the Trophy Case
    I recently added this mid-grade Bison Note or Buffalo Bill (great names) to my $10 large-size type set. This design is very popular with collectors, and prices reflect it.
    Notes graded 67 recently hammered at $17,600 to $18,800. 66's sold for $11,750. Too rich for my blood. I came down the grading scale to nab this trophy.
    This note design is rated as number 6 in the book 100 Greatest American Currency Notes (Q. David Bowers). Portraits of Lewis and Clark are also on the face of the note.

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  9. GSA_Gem_Quest
    A new addition to my $2 Large Note Type Set
    I added this Battleship Note to my collection recently. I am showing the reverse in the photo because it is one of the most iconic and recognized designs in US currency. This note is rated number 22 in the book 100 Greatest American Currency Notes (by Q. David Bowers), and is also one of my favorites.

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  10. GSA_Gem_Quest
    But when I do, I drink Dos Equis.
    Every note needs a name. There is the Grand Watermelon, the Rainbow Note, the Lazy Deuce, the Bison Note, the Educational Note, the Battleship Note, and the Porthole Note.
    This one reminds me of those Dos Equis beer commercials with the most interesting man in the world. I shall therefore name this the Dos Equis Note.
    I can't think of anything better, can you?
    Stay thirsty, my friends.
    http://notes.www.collectors-society.com/registry/notes/MySets_Listing.aspx?PeopleSetID=5940

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  11. GSA_Gem_Quest
    Happy New Year! Moving on to 2013.
    I am very pleased to announce today that my $1 large-size currency type-set is now complete, and I am also the first registry participant to achieve a 100% complete set in that category. My set won't win any awards for points, but it did win an award a few years back for best presented set. At the time, the set was still missing a few notes. I feel better about the award now that it is complete.
    I finished the set by adding the 1890 $1 Treasury or Coin note (Fr. 349) with Edwin Stanton on the face and the ornate fancy back. One of my favorites and a hard one to find, the note is ranked at #83 in the book "100 Greatest American Currency Notes" by Q. David Bowers.
    I was in no rush, but even so, it took me almost five years to put together this set. It was a lot of fun along the way, but I am glad to be finished too. Now time to move on.
    Please take a look at:
    http://notes.www.collectors-society.com/registry/notes/MySets_Listing.aspx?PeopleSetID=1126&SelectedTab=SetListing

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  12. GSA_Gem_Quest
    Hurricane Sandy Devastates the Northeast
    8 million customers lost power across 16 states.
    New York Stock Exchange closed for two days.
    New York subways flooded.
    High tides, massive flooding, pouring rain, fire, wind and snow.
    Over 100 dead. No food, no water, no gas, no heat.
    This was the super storm Sandy, causing epic destruction in the Northeast.
    A long and painful recovery is ahead.
     
    And after the storm...a rainbow. Our thoughts and prayers go out to those impacted by this horrible tragedy.

  14. GSA_Gem_Quest
    The first (and only) note for my new $5 U.S. large currency collection.
    The first (and only) note for my new $5 U.S. large currency collection is this 1914 Blue Seal Federal Reserve Note from the Dallas Federal Reserve Bank.
    My apologies to Abe Lincoln as I am only including a picture of the more interesting back of the note, which shows beautifully detailed vignettes of Christopher Columbus in sight of land (on the left) and the Pilgrims landing (on the right).

  16. GSA_Gem_Quest
    Fashionably Late, She Missed the Award Presentation.
    I recently added this nice Fr. 223 large-size 1891 Silver Certificate to my $1 type collection. A portrait of Martha Washington graces the front.

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  17. GSA_Gem_Quest
    I am Truly Honored and Humbled!
    I would sincerely like to thank PMG for bestowing the award for 2010 Best Presented Set to my large size $1 bill currency type set collection (The Newport Ridge Collection - Large Ones). I am truly honored and humbled to win the award in the first year it was presented.
    I started as a coin collector, and actively participate on the coin side of the Collector's Society, but gradually became interested in collecting currency, especially large size US bills. I have tried to put my set together for display here in the PMG Registry in the best way I could. Since I have not completed my set, I was surprised to have won the best presented set. But now the pressure is on to complete it with the best bills that I can obtain, within my budget. Always a challenge with these large size notes.
    It's a little quieter here on the notes side of the Collector's Society, but it is fun to watch as the excellent collections grow. There are many outstanding note collections here worth many more points than mine, but it is gratifying that PMG also recognizes my effort to try to present the set with nice pictures and interesting descriptions.
    As an aside, but something I am also proud of, I was honored a few years ago by NGC when I won best presented set on the coin side in 2006 for my GSA Carson City Morgan Dollar collection. I continue to try to upgrade that set as well.
    Here is one of the notes that put me over the top. Thanks again, PMG!

  18. GSA_Gem_Quest

    Going Global

    By GSA_Gem_Quest,

    I am getting tired of boring designs and high prices for U.S. currency!
    Although I really like the designs of the large-size U.S. currency, the sky high prices limit my interest and collecting ability, especially in these difficult economic times. I just can?t justify paying that much for nice notes. As for the small-size and more modern U.S. currency, the designs and greenback color (or lack of color) of most notes really put me to sleep. What?s a currency collector to do?
    Well, I have decided to take my currency collection in a different direction and expand into currency of foreign countries. I am going global. The vast population of foreign notes is almost limitless. New and interesting designs, bright and varied colors, and much lower prices await me. Although there are still expensive international notes (I will steer clear of those), some older international notes can be bought for less than the cost of grading them, and many can be purchased ungraded for less than $100.
    It?s also a great way to brush up on world history. The designs I am attracted to reflect on historical events or people, scenic beauty or landmarks that distinguish the country, or ordinary people living their lives. Many foreign countries primarily show their leaders on their currency, similar to more modern U.S. currency. I had no idea how many countries around the world have pictures of Queen Elizabeth on their currency. But many countries put ordinary people doing ordinary things on their currency, and that is of more interest to me.
    Where to start? For me, this journey will take two paths. First, I am going to start collecting a few notes from each of the foreign countries I have traveled to. I have not traveled much in connection with work, but have taken some interesting vacations over the years to foreign countries, and this will be a good way to remember my trips. Second, I will collect notes of foreign countries where I have not traveled, if they have a particularly attractive design.
    There are no registry sets yet for foreign country currency, and I am not getting into foreign currency with the intent to build registry sets. However, as I start to acquire notes that I like, I may specialize in a few countries and try to acquire more notes from those countries.
    So far, I am having a lot of fun collecting world currency. It?s more of a hobby now, and the competition is not so fierce. My wallet likes it too.
    Here is one of the first foreign notes I purchased. It's a gorgeous 10 Yuan note from China, dated 1914, and printed in multi-colors by the American Bank Note Company. It was inexpensive and graded 66EPQ! Going Global!

  19. GSA_Gem_Quest
    A Big Risk
    I bought this note as PCGS 62PPQ, and wanted to cross it over to PMG for inclusion in my registry set. This was a big risk for me because PMG will not grade it without taking it out of the PCGS holder. I took my chances and was very pleased with the outcome! It graded straight across as PMG 62EPQ.

  20. GSA_Gem_Quest
    Once upon a time, some U.S. paper currency was "as good as gold."
    This beautiful mid-grade large-size $50 gold certificate boasts the ?Exceptional Paper Quality? designation, rare for bills in this grade range.
    This is the latest additional to my gold certificate collection. They really get tough from here. This may be my last gold certificate addition for a while. I bought this one on Heritage in January 2010.

  21. GSA_Gem_Quest

    New Legal Tender

    By GSA_Gem_Quest,

    Not one of my favorite designs, but a pretty low serial number.
    Legal Tender Notes were first issued in 1862, in order to help the Union finance the Civil War. Gold and silver coins were disappearing from circulation, and a new and different monetary medium was needed. They were not exchangeable for silver or gold coin, so some merchants were reluctant to accept them at face value. Even the Philadelphia mint would not accept legal tender notes in payment at par for the proof coins it struck for collectors. To buy these coins, collectors had to submit other silver and gold coins in payment.

  22. GSA_Gem_Quest
    Getting a quality education is important in order to succeed in today?s highly competitive working environment.
    However, getting another type of education is important to currency collectors?I am talking about the ?Educational Notes? series of Silver Certificates produced in 1896. They are arguably the most beautiful notes ever produced for circulation by the United States government.
    Educational Silver Certificates have inspired many collectors to further pursue the hobby, including myself, and this stunning example by all means fits that bill. Graded 65EPQ with great margins on the obverse and reverse, this note has nice color with vivid details. Notice the intricate artistic detail in the engraving "History Instructing Youth." This large-size Silver Certificate is a popular note, always voted one of the "Top 10" banknotes ever printed.
    When Thomas F. Morris became the chief of the Bureau of Printing & Engraving in 1893, a decision was made to produce a new series - $1, $2, $5 - of Silver Certificate Notes. He hired three famous muralists of the time - Blashfield, Low, and Shirlaw - to create scenic motifs on the different notes. They did mockups for all the denominations up to the $1,000 note, but only the three lowest denominations were ever produced, creating the beautiful "Educational Notes" series.
    The $1 was engraved by Will H. Low and shows the allegorical illustration of ?History Instructing Youth,? looking down on Washington D.C. The border of the note lists the names of many prominent Americans - from Lincoln to Emerson - politicians, inventors, military, and artists. The U.S. Constitution is open on the right.

  23. GSA_Gem_Quest
    One of my favorite numismatic stories goes like this:
    The last Gold Certificates issued for circulation were Series 1913 and Series 1922. On April 5, 1933, as part of his New Deal financial measures, President Franklin D. Roosevelt issued an Executive Order requiring the public to turn in Gold Certificates (as well as gold bullion and coins) by May 1st. The deadline was extended and on December 28, 1933, FDR further instructed private holders of Gold Certificates to deliver them to the U.S. Treasury Department for redemption and cancellation. On Jan. 17, 1934, Gold Certificates actually became illegal for individuals to own.
     
    On December 13, 1935, a fire broke out in the Old Post Office Building in Washington DC. The building was constructed in 1899. The structure was the largest office building in the country at that time. Despite its size, the Post Office had outgrown the building within 15 years, and it moved to an even larger facility nearby.
     
    The Old Post Office was scheduled for demolition, but the Depression left little money in the federal budget for such projects. So the building was designated as ?over-flow? and storage space for a variety of federal bureaus and departments. One of the departments utilizing the storage space was the U.S. Treasury Department.
    Hoping to save records from the fire and water damage, clerks began to heave file boxes and documents out the windows. Lo and behold, included in the boxes thrown out were redeemed and canceled $10,000 Gold Certificates. They rained down from the sky on firefighters and bystanders. Can you imagine standing there watching the building burn, then $10,000 gold certificates start falling out of the sky, fluttering through the air like golden butterflies and landing on the ground. What a thrill that must have been! Do you know how much $10,000 was worth in 1935, during the Depression? Bystanders presumed they had a huge windfall, only to find out the notes had been canceled and could not be redeemed a second time.
    Hundreds were salvaged by bystanders, though, and over the years it is believed as many as 500 have worked their way into collectors? hands. Since the federal government regarded these certificates as ?stolen? government property subject to seizure, it was illegal to possess them. Today these notes are sold quite openly in auctions and elsewhere. In addition to being canceled, some examples have water and/or fire damage, while others are nearly pristine except for their cancellation.
    On April 24, 1964, ownership of Gold Certificates came full circle. On that date, Treasury Secretary C. Douglas Dillon rescinded restrictions on ownership of Gold Certificates issued prior to Jan. 30, 1934. Could the $10,000 Gold Certificates that came raining down on bystanders during the Old Post Office Building fire of 1935 still be considered stolen property? Buyers beware!!

  24. GSA_Gem_Quest
    And she brought her silver certificate with her!!
    A new addition to my $1 large-size note type set. This is the first federal paper money depicting a First Lady of the United States, in this case Martha Washington. It was issued in 1886 and at one time could be exchanged for one silver dollar.