Conder101

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Posts posted by Conder101

  1. US currency is terribly boring. On the other hand items like that Giori note or most foreign notes are frankly hidious. The truly great notes were those of the 1

    late 19th century that depended on superb intaglio engravings. These note tend to be truly beautiful and frankly I think would be incredibly hare to reproduce. And many anti-counterfieting security features could be incorperated into them as well without hurting their asthetic appeal.

  2. I'm far from an expert on paper but here goes.

     

    The Red Seal notes are United States Notes and are the decendants of the Legal Tender notes of 1862. They are legal tender but had no real backing. The backing behind the notes were simply more government securities on deposit with the Treasury. (The only real difference between the United States notes and the Federal Reserve Notes is the authority issuing them, either the Treasury (red seals) or the Federal Reserve (green seals) )

     

    The Blue Seals are Silver certificates and for each dollar in silver certificates issued there was on deposit with the Treasury one dollars worth of silver at the official rate of $1.2929 per oz or just about .7734 oz of silver. In theory the silver certificates could be redeemed for silver on demand. For the most part they never were because for most of the late 19th century and the first 60 years of the 20th century silver was WELL below $1.2929 an oz so they were worth more as money than for the metal backing them. Then in the early sixties silver rose above the $1.2929 level and that, combined with the fact that many rare date pieces started being discovered, resulted in a run on the Treasury to exchange the silver certificates for silver dollars. As the stockpile of dollars was bottoming out in 1964 the Treasury cut off redeeming the notes for dollar coins and then you could only get either granules or bars for larger amounts. Finally in 1968 with silver still rising the cut off redemption altogether. The notes were still legal tender but were no longer backed by silver.

  3. No the notes they walpapered their houses with were the offical government issues from the 1922 to 24 era. Some of these notgeld issues were used as currency, but some communities found that they coul make a profit from them by printing various varieties, sets, series, and then selling them to collectors.

     

    The official government issues on the other hand suffered from a period of runaway hyperinflation. And as the value of the mark fell the denominations of the note kept getting bigger and bigger and it took more an more of them to buy anything. There are stories such as the one where a woman was taking a wheelbarrow load of money to the store to buy food, suddenly there was a crash and the woman turned around to see what was going on. When she turned back around ....the money was on a pile on the ground, and the wheelbarrow was gone.

     

    It got to the point where the workers at a factory would arrive at work in the morning and there would be a truck there with a load of papermoney on board. This was the pay for the day. The workers would collect their pay, and rather than go to work they would go to town to spend their pay. Because if they waited til lunchtime the money would have lost HALF its value.

     

    A older man sold his printing factory for a million marks, put it in the bank and settled back to enjoy his retirement. Then the inflation hit. Several months later he gets a letter from the bank informing him that they are closing his account because it is too smal to deal with. Enclosed is a 500 million mark note because it's the smallerst thing they have. The stamp on the envelope is for five million marks.

     

    As you can see when things like that are happening you quickly wind up with bushels of printed paper that aren't worth anything. They were worth more as paper than they were as money. The inflation notes were used for wallpaper, wrapping paper, even toilet paper.

     

    A reason to keep it? It's a nice historical souvenir.

  4. I wouldn't call it a novelty or fantasy. It appears to be a Notgeld "emergency money" note from the german state of Pforzheim. They also issued notgeld coinage as well, I have a complete set of that. After the end of the first world war Germany was in a terrible economic state and many of the local states and municipailities issued emergency money between 1916 and 1922. I have some 1800+ pieces of notgeld municipal coinage from around 600 communities. I have never gotten into the notgeld paper money due to a lack of references and the huge number of varieties. The largest collection I have heard of contained over two hundred thousand different varieties. Estimates are that there are over three hundred thousand varieties known.

  5. Poor Secretary Barr - he didn't live long enough to see his notes issued...

    Sure he did. Barr didn't die until 1982. His short term in office was because he was nominated by Lyndon Johnson at the end of 1968 but a , Richard Nixon, won the election in 1968 and after he took office in 1969 he nominated a new Secretary of the Treasury. That ended Barr's 31 days in office.

  6. Lowest serial numbers available, but no information on just how low they will be. "We did not roll back the serial numbers but just continued where the last series left off. So this new 2006 note start with the low low number of 89363862!"

     

    And keep in mind the last 12 federal reserve district set like this they sold ended up only having I believe 8 districts because they never issued notes for the other four.

  7. If you are going to get it graded or have it auctioned you are probably going to have to mail it off. If you do just remember to ship it by REGISTERED mail. It is absolutely the safest way to ship it (Actually safer than delivering it personally) and it will be fully insured so you will be compensated if something did happen to it. Just make sure you declare its full value when you ship it. (Up to $25K. If it is actually worth more than that go for the $25K available from the Post Office and private insurance for the balance. As long as it is sent Registered the private insurance is very reasonable.)

  8. Well there is a Feb 17th 1864 $1000 bond with all the coupons on eBay right now with a Buy it Now of $249.

    http://cgi.ebay.com/RARE-Full-sheet-Feb-17-1964-Confederate-6-bonds_W0QQitemZ260357815111

     

    There is a lot of 12 consecutive $1000 bonds for $2,995, that's $250 each. all coupons attached

     

    There is another type of $1000 bond from 1863 at $295 All coupons attached

     

    There is yet another type of 1863 $1000 bond with one coupon missing currently bid to $64

     

    Another type $1000 bond with 4 of 24 coupons missing currently bid at $28

     

    Found four consecutive numbered bonds of the same type as yours each missing one coupon Buy it Now for the four bonds is $995, once again $250 each.

     

    There are several others.

  9. I would expect Series 2009 since the current rule is to change series with a change in Sec Treas. I would expect to see it first on the ones in about 8 or 9 months. (It takes a while to make the engravings of the new signatures and the new plates and they won't start using them until the current plates wear out.)

  10. The $20 Charter 12536 has 0 reported

    So he has the only one known AND it's the Number 1 note as well! Would make me suspect that the $20's with Charter 12536 may have never been issued and his great grandfather kept the #1 note as a souvenir.

     

    Personal opinion but John I think you should keep the notes. Yes the money may be nice (and you should probably get an accurate appraisal and insure them) but you sell them and spend the money and in a little while the money is gone, not too long after what ever you spent it on is gone and you are back where you are now but you no longer have that great historical family heirloom from your great grandfather, the founder of the bank. (Think about it, you wouldn't have it if your father or grandfather had decided to run out and sell them so they could spend the money.)