BRIAN339

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Posts posted by BRIAN339

  1. GPNYC:

    This note is rare or at least scarce. It is a ‘small size’ National Bank note and Heritage lists a ‘census’ of 4 large ones and 2 small ones. Including this one, which would make 7 total (3 small ones & 4 large ones, of a different design) and it is in better condition than either of the ‘small ones’ they list.

     

    It’s not worth a $million, but none of the 7 have been professionally graded, and I don’t understand this ‘census’ idea (other than as ‘known examples’) or if Heritage’s ‘census’ means anything significant. Is ‘census’ something standardized?

     

    I am going to place it at auction and it seemed to me that having it professionally graded would be a benefit to everyone involved. But I am uncomfortable with having the ‘fee charged for service based on the value of the note’ and obviously not experienced with currency.

     

    My basic question is: Though I completely understand via an Internet auction that an encapsulated note gives a buyer a ‘certain amount’ of confidence in what they are buying, does it limit a prospective purchaser from (other than not being able to touch it) in any way? I am experienced in other types of antique items, and for them things like ‘black lights’ become very important in spotting ‘in-painting’ for art, or repairs to pottery.

     

    I am curious that since the Heritage auction prices range from $800-$2000 on this note and none have been sold in 7 years, why none of them have been professionally graded.

     

    Thanks so much for your time and help.

     

    You actually have two questions. I will try to answer both of them.

    For your basic question I can see no downside to having your note graded by PMG.

    As for your question as to why Heritage sold this note raw it could be for several reasons. I can give you a couple of them. It may not have been graded because its a national and it never really has been necessary to buy or sell a national that is graded unless it very high graded. Another may be that the present grading companies are still in there infancy. CGA was the main grading company at the timeline you mentioned. Most of the graded notes we have always seen are type notes.

    Finally if you are going to sell it with Heritage they will have it slabbed for you and deduct the fee when you settle with them,

     

    It would serve you better to show us your note so we can offer you a fair and honest opinion. If you choose not to than I would suggest its only your loss. A $2000 value is very minor in this hobby and a $800-$2000 spread is a pretty wide gap.

     

     

  2. The coolest thing about this set is that they were lost 80 years ago in a clothes dresser. This piece was found after an antique purchaser bought the estate and found it under a draw.

     

    hm and then he switched out the $5 dollar.

     

     

    Nice find!!

     

    I am not sure what you mean by "he switched the $5 dollar"?

     

  3. Manning with all of your expertise on paper money you dont know what these are?;)

     

    These are the first U.S. bonds to be paid with geenbacks. They are rare, cool and desirable.

    Problem here is this guy is sitting on a total face value of $125,000.00 in these bonds. He is about to flood the market which is a total shame because they go from rare to common. Still desirable nonetheless. He thinks they are worth big money. I think anyone who pays strong will soon learn that they are going to get cheaper as time goes on and he sells more.

     

    Read his article included in one of his descriptions............he has a stack of them.