Rare and Unlisted Philippine Banknotes. How to Value Them? 1 1

[Pinoynotes - Chris Gibbs]

About 15 odd years ago I noticed my new 9th edition Krause Catalogue (Real Book) was missing a banknote, the Aquino - Fernandez ₱100 with a RED serial number (p172?). I contacted Krause, told them I had an Aquino - Fernandez starnote with RED serials. They said I couldn't have one as it couldn't exist, because the numbering didn't allow it, when I sent them a photo they at last admitted the note must of been a mistake, (Made by the Bangko Sentral)  

Many years passed and I didn't  worry about this note, but recently I have taken an interest again. So I downloaded the latest (25th Edition) Krause, when I saw the listing ....172b. Signature 11. Red serial #.......WOW!, that was my note and it was listed at $35, while the other p172's were $12 and under. I was happy, listed and heaps more than the others!

Then the other night I was looking at Krause, when I noticed the very last line of the p172 descriptions.....

.. cr. Replacement note. Sign. as a. Red serial #. Rare.             —           —     

DOUBLE WOW!  My humble Starnote was now the only Philippine replacement note ever listed in Krause, and the only Philippine banknote to have the word "Rare" in it's description. Other much older notes have the word Rare in the Value Columns, but not in their description.   

As well as that note, I'm also very happy to have another 17 notes (1997-2010) not listed in the latest Krause, all in UNC condition.

Now I want to have these graded, and I don't know how to value them so I can pay. Do I put them in for what I paid for them? Or what a "Rare" note might be worth, whatever that is. Can someone let me know how to price such notes......I'm So Confused!  ...Chris

Edited July 6, 2022 by Pinoynotes1

[Fenntucky Mike]

On 7/6/2022 at 4:06 AM, Pinoynotes1 said:

Now I want to have these graded, and I don't know how to value them so I can pay. Do I put them in for what I paid for them? Or what a "Rare" note might be worth, whatever that is. Can someone let me know how to price such notes......I'm So Confused!  ...Chris

A very cool note and interesting story. The best way to determine the note's value is to find some examples that sold at auction, if you can't find any then I would probably value it at $300 or below so that I could submit this note under the Modern Tier. That's assuming that you have much less into the note. If you paid more I would value it at whatever that amount was, plus a little extra. Just because a note is identified as "rare" doesn't necessarily mean it is valuable, there needs to be a demand for it as well, Philippine notes seem to have a strong collector base so I think you do have a pretty nice find there. 

On 7/6/2022 at 4:06 AM, Pinoynotes1 said:

As well as that note, I'm also very happy to have another 17 notes (1997-2010) not listed in the latest Krause, all in UNC condition.

As far as your unlisted notes I would contact PMG directly and see what they say. My guess is that you would just have to pay for the additional Variety fee, $10 per note, then PMG will take a look at them and make a determination when they receive the notes for grading. 

1-877-PMG-5570 toll free
(+1) 941 309 1001
(+1) 941 309 1002 fax
Service@PMGnotes.com 

[Pinoynotes - Chris Gibbs]

On 7/6/2022 at 8:50 PM, Fenntucky Mike said:

A very cool note and interesting story. The best way to determine the note's value is to find some examples that sold at auction, if you can't find any then I would probably value it at $300 or below so that I could submit this note under the Modern Tier. That's assuming that you have much less into the note. If you paid more I would value it at whatever that amount was, plus a little extra. Just because a note is identified as "rare" doesn't necessarily mean it is valuable, there needs to be a demand for it as well, Philippine notes seem to have a strong collector base so I think you do have a pretty nice find there. 

As far as your unlisted notes I would contact PMG directly and see what they say. My guess is that you would just have to pay for the additional Variety fee, $10 per note, then PMG will take a look at them and make a determination when they receive the notes for grading. 

1-877-PMG-5570 toll free
(+1) 941 309 1001
(+1) 941 309 1002 fax
Service@PMGnotes.com 

Many Thanks for the info F.M., I'll give PMG a ring in the morning. Cheers Mate....Chris