GW Posted January 29, 2011 Report Share Posted January 29, 2011 need some advice on estimating the fair price for new notes. i saw that someone here had an equation for calculating the price of notes. number printed, grade, etc., but i can't find it now. auctions, price lists, etc. can show what people have paid, which could be more than what the note is acutually worth, but not really what the true fair price should be. does anyone here have an "equation" for calculating the fair price for notes that do not have a history of purchases ? thanks Link to comment Share on other sites More sharing options...
mintcollector Posted January 30, 2011 Report Share Posted January 30, 2011 I wasn't aware there was any other way other than looking at past auction/dealer sales. This is what I currently do. The 'green sheet' is way too low, the Red Book is sometimes, not accurate; therefore, I would check Heritage archives... Link to comment Share on other sites More sharing options...
GW Posted January 31, 2011 Author Report Share Posted January 31, 2011 (edited) good idea, i always check Heritage archives. but they are the auction sale prices, which may not always reflect what the true value of a note is. an example would be having a note that lists as $1,000 the note could still sell for more or less than the estimate. but how was that $1,000 baseline price created. how does a dealer know what sale price to use for a new note. that does not have any previous sale prices. i'm looking more for an "equation" rather than past sales. thanks ================= here is an article i found. How to Calculate the Value of a U.S. Federal Reserve Note Read more: How to Calculate the Value of a U.S. Federal Reserve Note | How.com http://www.ehow.com/how_5863591_calculate-value-u_s_-federal-reserve.html#ixzz1CZj5S2AF Consult a standard reference to estimate the value of the particular notes you have, such as "A Guide Book Of United States Paper Money: Complete Source for History, Grading, and Prices" (otherwise known as the Red Book). Or look on currency dealer's websites or auction sites for a general idea how how much a note will be worth if sold as a collectible. Edited January 31, 2011 by GW Link to comment Share on other sites More sharing options...
SouthFlorida guy Posted January 31, 2011 Report Share Posted January 31, 2011 Does the PMG offer varification like the NGC does? I'm very new to currency and I was looking at a note but I have no idea what the current value is. With coins I just go to the NGC home page and click on this link... http://www.ngccoin.com/certlookup/index.aspx PMG have a link like this? ^^ Link to comment Share on other sites More sharing options...
GW Posted February 1, 2011 Author Report Share Posted February 1, 2011 for PMG varification, goto: http://notes.www.collectors-society.com/notes/lookupcert/Default.aspx after you look up the note, then goto: Population: See PMG Lookup sometimes there are prices listed next to the grades. sometimes not. you should be able to use your same NGC Login/password to get access to the PMG information. Link to comment Share on other sites More sharing options...
SouthFlorida guy Posted February 1, 2011 Report Share Posted February 1, 2011 sometimes there are prices listed next to the grades. sometimes not. I noticed that. PCGS doesn't seem to give prices. CGA doesn't either, to my knowledge. This has been, and will be a big reason why I don't collect notes. I've seen the same exact notes sell for a 200-400 dollar spread. At least with coins you have an idea of current fair value. Link to comment Share on other sites More sharing options...
mintcollector Posted February 1, 2011 Report Share Posted February 1, 2011 sometimes there are prices listed next to the grades. sometimes not. I noticed that. PCGS doesn't seem to give prices. CGA doesn't either, to my knowledge. This has been, and will be a big reason why I don't collect notes. I've seen the same exact notes sell for a 200-400 dollar spread. At least with coins you have an idea of current fair value. This isn't entirely accurate. I collect both coins and notes, and actually prefer notes. First, the collectible market for notes is still expanding and prices, when compared to coins, are actually a lot cheaper. Second, coin prices vary greatly. I personally hate toning, therefore, I can't buy too many coins online. Also, the spread between 'rainbow toned' coins and other coins is fairly high; for whatever reason. For me, notes are easily to buy and collect and I truly believe that the market will continue to trend upward. I would suggest that you at least try to find more pricing info. Keep in mind that the market for graded coins has been around a lot longer than the market for graded currency, this is why finding truly accurate info can be hard. May I also recommend that when buying graded currency you only stick to PMG and PCGS graded notes... Link to comment Share on other sites More sharing options...
GW Posted February 1, 2011 Author Report Share Posted February 1, 2011 i see coins, currency or anything, vary in price. coins may have more and better price data that has been created over the years. and a more refined price lists, NGC is doing a great job with their new NGC Coin Price Guide. Collecting is a hobby of seeking, locating, acquiring, organizing, cataloging, displaying, storing, and maintaining items that are of interest to the individual collector. i thank the pioneers of currency collecting for doing what thay can for the hobby, we just need continued improvement. Link to comment Share on other sites More sharing options...
mintcollector Posted February 1, 2011 Report Share Posted February 1, 2011 (edited) I think in time more 'concrete' calculations will be readily available. Keep in mind that unlike coins and comic books, graded currency has only been around for half a decade or so. Not much time for true valuations to develop. Even the market for graded comic books has GPA, a price analysis tool. Maybe someone will one day develop a tool like this for graded currency? Who knows... As for 'raw' currency, I honestly wouldn't even know how to value it or attempt to calculate it... This is why I collect graded currency only. Edited February 1, 2011 by mintcollector Link to comment Share on other sites More sharing options...
Member Jenna S-migration Posted February 1, 2011 Member Report Share Posted February 1, 2011 Good afternoon, I wanted to clear up this statement: "you should be able to use your same NGC Login/password to get access to the PMG information" Because NGC & PMG are separate companies we do enter your passwords separately when we set up your accounts. If when you try to log into PMG’s site with your NGC login/password & it does not work please contact PMG customer service and we will get it set up for you with either the same password as your NGC account or a new password of your choosing. Thank you. Jenna Schultz PMG Customer Service 877-PMG-5570 Ext 238 941-309-1002 Fax Link to comment Share on other sites More sharing options...
