• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

Tuesday Night U.S. & World Currency Auctions
0

19 posts in this topic

Posted

Heritage has weekly auctions for BOTH U.S. Currency and World Currency.  Usually separate, if they have enough volume.

It's fun to watch the bidding even if you don't participate.  Check the results to see market values for various bills.

Here's tonight's:

https://currency.ha.com/c/search/results.zx?term=gold+certificate&si=2&dept=2021&live_state=5318~5319~5322~5320~5321~5324&auction_name=142413&mode=live&page=50~1&ic=KeywordSearch-A-K-071316#

 

 

 

Posted

I have to study the auction results in detail and go over them more in-depth...but after watching a few dozen auctions last night besides stuff I considered bidding on, the following observations:

  • Lower-priced stuff is attracting lots of bidders and stuff is going ABOVE the HA estimates.  This stuff is affordable to folks with $50 - $500 or so.
  • Higher-end stuff sells, but lots of stuff wasn't reaching the HA estimate.  I saw some stuff like Gold Certificates and other special bills sell for under the HA estimates and in a few cases 30% or more BELOW what they sold for 15-20 years ago in some family auction of bills.  Very surprised to see stuff not at least matching a sale from that long ago....there wasn't a bubble in currency that I know of, so you would think unless a bidding war broke out that today's sales should match/exceed prices from that long ago. 
  • Older GCs and SC's continue to get strong bidding in medium-to-low grades.  Not my cup of tea but folks like these and other larger bills.
  • $500 and $1,000 bills in medium and lower grades selling for 3-4x FV.....high-50's and mid-60's you have to pay up 5-7x.
Posted
On 3/27/2024 at 3:23 AM, GoldFinger1969 said:

I have to study the auction results in detail and go over them more in-depth...but after watching a few dozen auctions last night besides stuff I considered bidding on, the following observations:

  • Lower-priced stuff is attracting lots of bidders and stuff is going ABOVE the HA estimates.  This stuff is affordable to folks with $50 - $500 or so.
  • Higher-end stuff sells, but lots of stuff wasn't reaching the HA estimate.  I saw some stuff like Gold Certificates and other special bills sell for under the HA estimates and in a few cases 30% or more BELOW what they sold for 15-20 years ago in some family auction of bills.  Very surprised to see stuff not at least matching a sale from that long ago....there wasn't a bubble in currency that I know of, so you would think unless a bidding war broke out that today's sales should match/exceed prices from that long ago. 
  • Older GCs and SC's continue to get strong bidding in medium-to-low grades.  Not my cup of tea but folks like these and other larger bills.
  • $500 and $1,000 bills in medium and lower grades selling for 3-4x FV.....high-50's and mid-60's you have to pay up 5-7x.

I generally agree with your points, especially the lower priced notes blowing away estimates, but I'm not sure I'm seeing the high end stuff missing estimates as much as you're describing. I don't really pay much attention to the market for U.S. notes but most of the high end world notes that I do keep any eye on are still beating estimates for the most part, often by multiples. I'll add that U.S. obsoletes have been bringing in strong money for the last year plus, most of these fall into your lower priced stuff range <$500 and seem to be growing in popularity. The seaming shift or split your describing between high end notes selling for less and low end notes for more is interesting. I've been feeling the pinch in the lower priced stuff as that is my typical price range, but if the higher priced notes are seeing a decline in interest it may be time for me to swim to the surface to spear one. I have my eye on a NBN going to auction next month, the note has a good sales history for which to track price and it'll be interesting to see how much it goes for. 

Posted
On 3/27/2024 at 6:27 AM, Fenntucky Mike said:

I generally agree with your points, especially the lower priced notes blowing away estimates, but I'm not sure I'm seeing the high end stuff missing estimates as much as you're describing. 

Here's the one that sold for $1,100 back in 2000 and $805 in 2009 yet with bp last night only reached $660.  Pretty cool SN of 00000400.

https://currency.ha.com/itm/small-size/federal-reserve-bank-notes/fancy-serial-number-fr-1880-g-50-1929-federal-reserve-bank-note-pcgs-very-choice-new-64/a/142413-84458.s?ic4=ListView-Thumbnail-071515

"Fancy Serial Number Fr. 1880-G $50 1929 Federal Reserve Bank Note. PCGS Very Choice New 64.
"The only low or fancy numbers listed by Oakes for the Chicago district $50 are numbers 200, 300 and 400, all of which were discovered as part of the Davenport, Iowa Bank & Trust Co. cash hoard. Our consignor obtained this in a 2000 sale, when it realized $1100. Expect it to bring more, perhaps considerably more, in this offering." This was our description when we sold this same note for $805 in our 2009 FUN sale from the Robert Moon Collection. At that time, it was housed in a PCGS Very Choice New 64PPQ holder."

On 3/27/2024 at 6:27 AM, Fenntucky Mike said:

I'll add that U.S. obsoletes have been bringing in strong money for the last year plus, most of these fall into your lower priced stuff range <$500 and seem to be growing in popularity. 

What are "obsoletes" ?

Posted
On 3/27/2024 at 10:29 AM, GoldFinger1969 said:

What are "obsoletes" ?

Notes issued by the wildcat banks of the free banking era in the U.S., 1836-65. They are generally uniface, one sided, and were printed on very thin paper. 

Here are some from my collection.

image.png.bab6fa50e8dfb9b077c7265ecaff24a9.png

image.png.3e44cbe11c5a7f0d360cb05bd2f7924c.png

image.png.2e2acb63b7e954b3d04acbb837c00d8c.png

image.png.8485bf43b9ca44396ee3a8209e8215d5.png

image.png.355a27a4ceb333a628ce663ad5027757.png

Posted
On 3/27/2024 at 10:29 AM, GoldFinger1969 said:

Here's the one that sold for $1,100 back in 2000 and $805 in 2009 yet with bp last night only reached $660.  Pretty cool SN of 00000400.

https://currency.ha.com/itm/small-size/federal-reserve-bank-notes/fancy-serial-number-fr-1880-g-50-1929-federal-reserve-bank-note-pcgs-very-choice-new-64/a/142413-84458.s?ic4=ListView-Thumbnail-071515

"Fancy Serial Number Fr. 1880-G $50 1929 Federal Reserve Bank Note. PCGS Very Choice New 64.
"The only low or fancy numbers listed by Oakes for the Chicago district $50 are numbers 200, 300 and 400, all of which were discovered as part of the Davenport, Iowa Bank & Trust Co. cash hoard. Our consignor obtained this in a 2000 sale, when it realized $1100. Expect it to bring more, perhaps considerably more, in this offering." This was our description when we sold this same note for $805 in our 2009 FUN sale from the Robert Moon Collection. At that time, it was housed in a PCGS Very Choice New 64PPQ holder."

I wonder how much that the note didn't "Q" affected the price? Looks like it used to be in a "Q" holder but then it was dropped after another round of grading. How could the consignor have obtained the note in a 2000 sale if the note was sold again in 2009. How many times has this person bought this note? xD Boy, they must be really underwater on this note if the bought it for $1,100, sold it for $800, bought it back (at a higher amount than the $800 maybe), and sold it again for $600. :o

Posted (edited)

Unlike with coins, Mike, you don't have any "floor" with bills and metallic content.  For instance, Saints are down from decades ago because back then even though the gold price was LOWER.... the premiums to the bullion price were insane (500-700%).  So MS-65's sold for almost $4,000 !! :o

As you can see from my earlier post, the same bill was lower than earlier sales iin 2000 and 2009.  It's also NOT too obscure a bill...and was in the widely-advertised HA auctions....so it's not like it just missed bidders selling on Ebay or some other obscure 2nd-rate sales place.  Interesting, that's all I am saying.

Edited by GoldFinger1969
Posted
On 3/27/2024 at 12:04 PM, Fenntucky Mike said:

I wonder how much that the note didn't "Q" affected the price? Looks like it used to be in a "Q" holder but then it was dropped after another round of grading. How could the consignor have obtained the note in a 2000 sale if the note was sold again in 2009. How many times has this person bought this note? xD Boy, they must be really underwater on this note if the bought it for $1,100, sold it for $800, bought it back (at a higher amount than the $800 maybe), and sold it again for $600. :o

Wait a second....at one time this bill had the PPQ or EPQ designation and LOST it ?  And you think it was the same person buying this note over the last 24 years ?

Posted
On 3/27/2024 at 12:23 PM, GoldFinger1969 said:

Wait a second....at one time this bill had the PPQ or EPQ designation and LOST it ?

That is what is in the HA description. It stated that the note had been in a PCGS 64PPQ holder when sold in 2009. 

On 3/27/2024 at 12:23 PM, GoldFinger1969 said:

And you think it was the same person buying this note over the last 24 years ?

No, I doubt it. I was not reading the HA description correctly, didn't realize they were quoting their own lot description from 2009. I thought they were talking about the consigner to the 2024 auction having acquired the note in 2000 and consigning in 2008. doh!

Posted

Mike, how do you find pricing on ebay for your world/foreign bills and/or any U.S. currency you may have bought over the years ?

I find the initial asking prices way high -- sometimes they are flexible, but other times they trim by 10% when they need to trim by 30% to be competitive.

Posted
On 3/31/2024 at 9:18 PM, GoldFinger1969 said:

Mike, how do you find pricing on ebay for your world/foreign bills and/or any U.S. currency you may have bought over the years ?

I find the initial asking prices way high -- sometimes they are flexible, but other times they trim by 10% when they need to trim by 30% to be competitive.

Pricing on ebay is what it has always been, there are some scammers on there hoping for someone to come along and pay an exorbitant price and some good sellers who price notes fairly and are willing to work with you. For the most part, I find that there are plenty of fairly priced world notes on ebay and a lot of auctions starting a 99¢. I imagine that there is a proliferation of bad sellers with U.S. notes just hoping for the right sucker to show up on their doorstep. 

I rarely pickup a note at BIN prices unless it is a low cost note <$40 or I know it is a good deal or fairly priced based on past sales, I would say 80% or more of my notes were bought at auction or the seller accepted an offer I made on a note. I pick up more raw notes from BIN lots than graded notes and I shop auctions throughout the world not just ebay, HA, or SB. 

Posted
On 4/1/2024 at 6:27 AM, Fenntucky Mike said:

Pricing on ebay is what it has always been, there are some scammers on there hoping for someone to come along and pay an exorbitant price and some good sellers who price notes fairly and are willing to work with you.

Ever see a bill you want or are familiar with and the price is way way too high -- and then see when/if it gets sold ?

I've tracked some coins priced like that and they are still unsold a year later !!!  :o

Posted (edited)
On 6/5/2024 at 3:38 PM, GoldFinger1969 said:

Ever see a bill you want or are familiar with and the price is way way too high -- and then see when/if it gets sold ?

I've tracked some coins priced like that and they are still unsold a year later !!!  :o

It's the same for notes. There are gobs of overpriced world notes on ebay that sit there for years, some can be tracked back to purchases at HA, SB, and the like, where they were originally bought before being dropped on ebay or other similar sites. The opposite can be true as well, I've watched plenty of notes that were listed at what I thought were high BIN prices hangout for extended periods of time, over a year in some cases, then they get relisted and put up for auction and sell for above what the BIN price was and I'm left sitting there shaking my head and note-less. doh!

Plenty of weird (questionable?) stuff happens with notes and coins but it's easier to track notes. I'll see the same note go up for auction multiple times at the same auction house over the course of a year, and supposedly it gets sold each time... hm One thing is certain and that is notes still seem to be bringing really strong prices, at least for the high grade, rare, and unique pieces. I've been getting stomped on at auctions the last 2-3 months and I'm bidding way over what I thought the note is worth. Going to try bidding on some coins over the next few days, hopefully I can score a win or two. The coins are coppers so I'm going to see if VKurtB's theory of buying copper when gold is high pans out. xD

Edited by Fenntucky Mike
Posted (edited)
On 6/6/2024 at 6:24 AM, Fenntucky Mike said:

It's the same for notes. There are gobs of overpriced world notes on ebay that sit there for years, some can be tracked back to purchases at HA, SB, and the like, where they were originally bought before being dropped on ebay or other similar sites.

If Ebay were smart, they'd institue hosting fees for stuff that is still there unsold after like 6 months, a year tops.  I mean, do they want to host stuff that is idiotically priced forever ?

Now, if the seller can say that something is reasonably priced and just isn't selling that's one thing.  But when you have "similar" stuff and it's selling but the unsold is asking 30% or 50% or 100% more, I have an issue with that. 

Maybe AI can track these things in the future and issue warnings or ask for an explanation.xD 

Edited by GoldFinger1969
Posted (edited)
On 6/6/2024 at 6:24 AM, Fenntucky Mike said:

The opposite can be true as well, I've watched plenty of notes that were listed at what I thought were high BIN prices hangout for extended periods of time, over a year in some cases, then they get relisted and put up for auction and sell for above what the BIN price was and I'm left sitting there shaking my head and note-less. doh!

Yeah, that's idiotic but can happen from time-to-time.  Once bought a classic Sports Illustrated magazine I had to have.....paid like $85 to beat out the other bidder(s). 

A few weeks later, there were 2 of them for sale, same issue, same quality and condition.....I think they went for $10 and $15 each. xD :mad:

Edited by GoldFinger1969
Posted
On 6/6/2024 at 10:34 AM, GoldFinger1969 said:

Yeah, that's idiotic but can happen from time-to-time.

Could be some shill bidding going on but, for the most part, on ebay, I don't see the note get relisted. Not right away at any rate.

On 6/6/2024 at 10:34 AM, GoldFinger1969 said:

Once bought a classic Sports Illustrated magazine I had to have.....paid like $85 to beat out the other bidder(s). 

A few weeks later, there were 2 of them for sale, same issue, same quality and condition.....I think they went for $10 and $15 each. xD :mad:

I hate when that happens! doh! Waiting is one of the tougher parts and having a feel for how often notes, coins, etc., are available to purchase in a condition range or in general. Sometimes you just have to go for it though. 

Posted
On 6/6/2024 at 11:15 AM, Fenntucky Mike said:

I hate when that happens! doh! Waiting is one of the tougher parts and having a feel for how often notes, coins, etc., are available to purchase in a condition range or in general. Sometimes you just have to go for it though. 

Yes....if something is RARE and it comes up for sale in the condition and with all the minutae you want, grab it.  But if its a relatively common item that shows up every few weeks or even months....patience.

I believe that was very early in the internet or Ebay when I overpaid for that SI issue....I think it was 2000 right after I got laid off from my Wall Street job and had too much time on my hands. xD

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
0