Are "cool" notes actually desirable? 0

[BHTimeless]

When I worked at a bank 6-7 years ago, we got a shipment of $2 bills in from the BEP and I was able to exchange out this beautiful uncirculated $2 bill with the serial number L27772777A. I was recently talking to a friend and he said I should get it graded and see if it's actually worth anything. It's super cool, and went the unopened back from the BEP to a paper money envelope to a case, so it is truly uncirculated. Just wondering what it might be worth!

[Fenntucky Mike]

56 minutes ago, BHTimeless said:

When I worked at a bank 6-7 years ago, we got a shipment of $2 bills in from the BEP and I was able to exchange out this beautiful uncirculated $2 bill with the serial number L27772777A. I was recently talking to a friend and he said I should get it graded and see if it's actually worth anything. It's super cool, and went the unopened back from the BEP to a paper money envelope to a case, so it is truly uncirculated. Just wondering what it might be worth!

It's a repeater, a fancy number, nice!

Is it worth grading?  I'm on the fence. You could probably get between $20 - $50 for it as is, if you submit it will cost around $40 to have it graded (you also have to get a paid membership, I don't remember what the basic plan costs. Probably another $40.) and depending on the grade you might get $100 - $300 maybe. If you're not sure of the grade and don't know anyone who is familiar with banknotes, I'd probably keep it or sell it as is. If you do a little research and see if it's from a low production run, has an unusual plate paring, etc. then that might tip the scales in favor of grading. 

1 hour ago, BHTimeless said:

he said I should get it graded and see if it's actually worth anything.

You should research the note first, make a determination of grade then check sold listings of ungraded and graded notes on ebay, Heritage Auction, Great Collections, etc.. to get an estimate of value and then make a determination of whether to grade or not.

[Revenant]

On 5/29/2021 at 4:09 PM, Fenntucky Mike said:

Is it worth grading?  I'm on the fence. You could probably get between $20 - $50 for it as is, if you submit it will cost around $40 to have it graded (you also have to get a paid membership, I don't remember what the basic plan costs. Probably another $40.) and depending on the grade you might get $100 - $300 maybe. If you're not sure of the grade and don't know anyone who is familiar with banknotes, I'd probably keep it or sell it as is. If you do a little research and see if it's from a low production run, has an unusual plate paring, etc. then that might tip the scales in favor of grading. 

He'd have to pay $25 for the membership, $10 fee for each submission form, $20 to grade a modern note (maybe more for attribution of the fancy serial number), PMG is going to charge him a minimum of $23 to ship something back, he's going to have to pay something to ship it to them. So he'd have to be out at least $80 to get that graded. If he was grading some other things with it to spread out the costs of the shipping to and from and the cost of the membership it would be better, but I'd have a hard time justifying it for that alone.

Shipping anything with a tracking number is probably going to cost you at least $4. Shipping all 15 of the notes I shipped to PMG recently cost me $11.40. Return shipping will run about $27. So that's about $2-3 in shipping there and back for 15 notes vs $27 to ship one thing there and back... the economics of this (shipping in particular) naturally favors submitting lots / as much as possible at a time. And that's before you even get into bulk grading discounts and elite tier memberships.

[Revenant]

On 5/29/2021 at 2:28 PM, BHTimeless said:

I was recently talking to a friend and he said I should get it graded and see if it's actually worth anything. It's super cool, and went the unopened back from the BEP to a paper money envelope to a case, so it is truly uncirculated. Just wondering what it might be worth!

So are you actually looking to sell it? If you want to sell it you might come out ahead as Mike says but you might not. A lot will depend on the grade. If you don't want to sell it, the question becomes, do you want it graded? To protect / preserve it or for any other reason.

Bear in mind, just because it is uncirculated doesn't necessarily mean it's going to come back as a 70EPQ, or 68, or a 67.

[Fenntucky Mike]

3 hours ago, Revenant said:

He'd have to pay $25 for the membership, $10 fee for each submission form, $20 to grade a modern note (maybe more for attribution of the fancy serial number), PMG is going to charge him a minimum of $23 to ship something back, he's going to have to pay something to ship it to them. So he'd have to be out at least $80 to get that graded. If he was grading some other things with it to spread out the costs of the shipping to and from and the cost of the membership it would be better, but I'd have a hard time justifying it for that alone.

Shipping anything with a tracking number is probably going to cost you at least $4. Shipping all 15 of the notes I shipped to PMG recently cost me $11.40. Return shipping will run about $27. So that's about $2-3 in shipping there and back for 15 notes vs $27 to ship one thing there and back... the economics of this (shipping in particular) naturally favors submitting lots / as much as possible at a time. And that's before you even get into bulk grading discounts and elite tier memberships.

It ain't cheap to have one note graded. An individuals ability to accurately determine grade, let's say within one level, on a note like that is key if one is trying to sell and be profitable. Ninety nine out of a hundred a person is better off selling the note as is, if that's there end goal.

[David_Grand]

Hello @Revenant, 

I have no intention of having it graded.   And yes I don't really want to save that particular note for my own collection because I don't want to start a "Fancy Number Note" spur in my Paper Money collecting efforts.   I am too old to add yet another area of focus for my Paper Money collection!     So I put it on eBay.   If I make money that is fine.  And if I don't, that is fine too.   I just want to get the note into the hands of someone who appreciate "Fancy Number" notes. 

I agree that it does not make during this century to get the note graded.

Are we only supposed to talk about grading notes on this site?  If so, that is fine.  I don't need to post stuff.  But I do appreciate the chance I am getting to learn more about PMG, Grading, and  all you great contributors.  Thank you! 

[Revenant]

9 minutes ago, David_Grand said:

Are we only supposed to talk about grading notes on this site?  If so, that is fine.

The OP - not you, which makes your post seem odd - explicitly asked about getting that note graded...

[BHTimeless]

Thank you, all. I had considered selling it because I don't really have an extensive collection, but it was more an abstract question about whether or not it would be worth it to do so. Thank you all for your input!