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LARGE NOTES DROPPING IN PRICE

Started by ALLSTAR,

14 posts in this topic

Astrocowboy

Astrocowboy

Posted
Posted

I suggest looking at something other than the Green Sheet: use the Heritage Auctions as an indicator. The Green Sheet is not my Bible for pricing.

 

Yeah, there was a substantial price drop from the 2008 September Long Beach Auction to the 2009 January FUN Show Auction. and NOT just the common date stuff, either. Due to the present economic "hard times" we are seeing some nice notes coming out for sale at very soft pricing.

 

The upcoming Heritage Auction at the Central States show in Cincinnatti should be a real good indicator....

 

Rodger

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Houston Investor

Houston Investor

Posted
Posted

The Green Sheet is a wholesale publication (more like a wish list) not a market price guide. For note market valuation I use the Krause priceguide (the Standard Catalog of US Paper Money is a good tool also) which comes with banknote reporter or my own knowledge of what certain notes are trading for on the bourse.

 

Occasionally a collector will come up to my table and quote me greensheet on a note as if to educate me. I simply ask these people if they have anything they want to sell me at greensheet......not one of them ever has. So much for greensheet being a "price guide."

 

Quality large notes are very tough to find. If they are in strong hands I can't see any substantial pirce drops. Hold on to your quality paper money and take nothing less than your price - don't give it away based on someone else's perception of the market. They may be trying to manipulate you. When I first set up a shows, a well known national dealer in currency would walk up to my table and say "well I have these at $xx." I will tell him "well good for you why don't you bring some over, I would be a buyer at that price." Of course they never did - after that they left me alone. There can be a lot of BS on the bourse lol.

 

If you believe prices for large notes are dropping can you provice a couple of examples where this has occurred in the current Standard Catalog of US Currency vs the prior edition? There is no doubt currency is not as liquid as bullion coins. Being forced to sell your currency can be a bad situation in any market.

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Astrocowboy

Astrocowboy

Posted
Posted

The Central States Heritage Auction was a bonanza for buyers and probably a disaster for consignors. I bought 3 nice type notes for very decent prices, including 2 "Catalog of U.S. Paper Money" Plate Notes from the Chet Krause Collection. My analysis is a 20% to 40 % decline in realzed prices from last Fall. Small notes didn't seem to suffer at all. I only wish that I had (1) not had my computer running slow, and (2) had a lot more to spend. Example: a Fr.# 223 "Martha" in PMG 66 went for < $3,000.00.

 

I couldn't get in to support my initial bids on 3 notes I really wanted to buy! What a disaster!

 

Rodger

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kbsig106

kbsig106

Posted
Posted
Regarding CSNS. If true then why did I get outbid on every lot except for one? My bids were not weak.

 

 

Interesting - I won 6 items at CSNS on the 5/1 floor and the 5/3 non-floor auctions -most of my initial proxy bids won except for two. My biggest score was 20% under a similar note I priced earlier this year - 1928c $5 FRN PMG 40. However the two 1928d $5 FRN's I went after, sold way over estimates...

 

 

Even with the BP on the 6 lots - I still made out like a bandit and spent about $2600 total. There were great buying opprotunities this past weekend if one had the resources and could sit there for hours watching the live acution.

 

 

 

 

 

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jtryka

jtryka

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Posted

I've just been watching live on the Lyn Knight auction page as I have a few bids in, and the prices have just been horrific on common stuff, and even some not so common stuff. Both changeover pairs of 1923 $1 silver certs (one forward, one reverse) just sold for $600 each. Maybe it's the market, or maybe it's just the venue, but for anyone with cash, there were bargains to be had!

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