I went to a coin and currency aucion over the weekend with the goal of buying a few lots if I could get a good enough deal. Getting a good deal on coins was out of the question I would find out. ( you can't compete with ignorance! People were bidding on common date sgs Morgans as if they were really ms 66 coins) I did manage to buy a few bills at what I think was a good price. Although I did learn that the old saying buy the book before the coin/currency should stipulate you read the book too!! One note I bought was a series of 1929 $20 national currency note. While researching I read to watch for bank names. Before the auction I was trying to get a quick look at the conditions of the coins and notes. When I looked at the note I saw Chicago and I thought "bingo". After I bought the bill for $42 and got home to reserch a bit more I noticed it said " Federal Reserve Bank of Chicago" and not a state bank. Oops! Average buy price is about $10 lower for fed banks. Oh well I sill like the note. My other buys included an Unc 1935 E star silver certificate and two consecutive Unc 1963 A $2 bils. I think I did much better on these notes.
Nice purchases..I've always loved those National Bank Notes. It's fun to see ones from banks all over the country.
Like them all John, maybe a little over on the national but the star and two's look great! I would be happy with any of them in my collection! Congrats - BTW: with the drop in silver today do you think the people that picked up the coins are having buyers remorse today?
Not technically nationals, but rather FRBN's. Long story short they made some minor changes to the plates used in making the '29 NBN's to meet the demands of the holiday banking crisis of '33. $42 bucks is not a bad deal, and is about what I try to get them in VF. NBN's can get nuts, and often sale in the range of 60-250 depending on the bank. There were about 13,000-14,000 member banks that issued NBN's, soooo good luck in finding them all. Most people stick to a particular state or city, kind of how I focus on Mississippi obsoletes and not get buried into collecting the 13 or so southern states at the same time. Ohhh you feel my pain with competing with ignorance! Hence why I won't buy on Ebay of the weekends!
That's a nice explanation on the federal bank notes ronterry. I wish I had done a little more research on the notes but I still like it. Darryl, I think the silver buyers may be questioning their buys but the people who payed over $100 dollars for the common date SGS graded Morgans will have real remorse if the do a little research. I didn't mention the guys paying $70 for silver Eagles!
Yea I am very happy with my $1 and $2 notes. I paid $15 for the star and $12.50 for the pair of $2's.
Ouch, amazing how people go to auctions with no understanding of value. Its bad enough to pay the Mint's markup! Hopefully they will try to sell quick and learn from it.
