i've seen people talk about them on the boards here, but i don't know a thing about them. are they extra valuable because of the postmarks? is it dependent upon the post office that marked them? i ask because i have the option of buying five of them (four of which are consecutive sn), all uncirculated. one of them even has sn 00300000, which is kinda fancy. the guy will sell for double face value, but i feel like that's a lowball. thoughts?
Double face is not out of line. The most I have paid for one is $6.00. I only collect them from my geographic area (NE WI). It is low for the 00300000 which should have a premium for the number. It would probably have carried a better premium w/o the stamp.
ok, so i don't feel too bad about offering double face for those. now, my next question (sorry, i don't want to spam the folder). he also has several old red seal $2 and $5 ranging in dates from 1928 to the sixties. also, there are two 1957 $1 silver cert's. these are all in perfect, uncirculated condition. the only exception is the 1928 $5, which looks like it has a dirty fingerprint on it. i know double face value is probably ridiculously low, but the guy sold me a bunch of old coins worth almost $100 yesterday, and he only wanted $5 for the lot. the entire lot of paper bills up for sale today is $33 face value. should i offer $70?
Well, if he came to you and asked for your opinion of the value of those notes (or the coins for that matter) and you low-balled him, that would generally be considered unethical. If he comes to you and says he'll sell for 2X (or whatever) face and you agree, then no problem, as far as I'm concerned. Ultimately it is between you and your conscience. I'm in my 60s now and I've found it's always better to do the right thing.
the seller brought them to me offering to sell, and i never made a dollar figure offer. he said he was looking them up and didn't see much value beyond face in them (at least, they had no additional value to him because he doesn't collect paper) so he would let them to go someone "who can appreciate them" like myself for a good deal. i never discussed the value of the notes with him because i honestly don't know their value without getting a good look at them and doing some research on them. i don't own any of the types he's selling, and i only learn about these things as i obtain them myself.
so the seller wouldn't take a dime over $50 for the lot. he asked for $50 and i tried to get him up to $75 but he wouldn't budge from his asking price. i feel kinda bad but even after i told him they were worth far more than what he was asking for, he didn't care. so, a rundown of the notes (i will have to post pics later, as my scanner died last week): $1 1957 V...A silver cert 1957A P...A silver cert $2 1928D D...A red seal 1963 A...A red seal x2 1976 H...A x4 (s/n 00299997 - 00300000) stamped and postmarked april 14, 1976 1976 H...A stamped and postmarked july 4, 1976 $5 1928D G...A red seal 1934 H...A frn st. louis 1953 B...A red seal all the notes are in uncirculated condition, with a couple small exceptions. one of the silver certs has a folded corner and a small crease, and the 1928 $5 has three vertical folds and a fingerprint smudge, but is in excellent condition otherwise.
1976 $2 FRN First Day of Issue with a Postal stamp and postmark is a bit of a specialty for me. As with every collectible, the value can be highly subjective. The first note is postmarked April 13, 1976 - The First Day of Issue - with a 13-Star Flag over Independence Hall stamp (Scott# 1622). It has a nice serial number, and the St. Louis Federal Reserve District is less common. I have paid an average of $8.00 for similar notes, and up to $15.00 for a PCGS 64PPQ graded note. The nice serial number might bring a premium. The other note, postmarked July 4, 1976 with the Liberty Bell stamp (Scott# 1618) is an annoyance to me because I collect First Day of Issue notes. Other collectors may be collecting the less common 4th of July postmark and, theoretically, might more valuable to the right collector.
the 4/13 postmarks are my favorite as well, especially considering the sequential bills and the fancy serial. i'm still new to collecting paper, so each new note comes with a history lesson. these are my first 1976 $2 notes, stamped or otherwise, so i'm pretty excited about them.
I think you got a great deal and I wouldn't worry about any unethical implications about the trade. The seller came to you and told you his price and after you advised that it was lower than it should be, he still stuck firm to his price. As for the notes, it was definitely a good buy.
i kinda agree, but the guy knows his items are finding a good home, and that's all that matters to him. on wednesday last week, he sold me a half a dozen canadian silver quarters, a few other old silver junk coins, three shield nickels, and a v nickel. he asked for enough cash to put his car through the car wash, which was a total of $5. with the paper, he said he would be happy to get face value for them, since much of it was devalued. i reassured him it was worth much more, but he didn't really care. this guy has a collection of older american coins, mostly silver dollars and half dollars, and he also picked up a lot of other items during his time as a vault teller at a local bank 40 years ago. most of it (including the stuff he sold me), he has no desire to keep, and he didn't even remember obtaining some of it. he says he has a deposit box in the vault full of old stuff that he doesn't remember picking up. maybe this week he'll show up with something else...
I personally don't think he is an idiot. I think he is what society is missing. A true gentleman. He knows he can get much more than what he is asking, as you have made him aware. BUT he has no intent on making a giant profit and just wants these to go to an owner who can appreciate some of these things. As for you, Wacky, you are also being a gentleman by offering MORE than the asking price, and you will be commended for it someday. Don't stop with what you are doing, and maybe educate this gentleman and say something like "If I were to buy at your asking price, the opportunity presents itself that I may make more than the initial investment." Maybe then he may be able to see what is passing through his hands that he can make more money off. Though from what I am reading, he just wants them to go into good hands and be assured they are not going to be sold to a shop who doesn't appreciate the real value of the coins/notes. ~Cannyn
i offered him more because i already knew i would be getting my money's worth and then some, and i wanted to make sure the seller was as well. when people come into the bank with old coins to cash them in because they think the coins aren't worth more than face (which happens maybe once or twice a year) i always tell them the value of the coins they're trying to cash in. #1 most of the time, the coins are no longer legal tender and we can't accept them. #2 i have a conscience. if a woman is trying to cash in a couple old morgans for a buck each, i will tell her she could get much more for them at a pawn shop, or i will personally buy them for a reasonable premium. i'm not trying to screw anyone, and i try my best to not take advantage of someone else's ignorance. if that makes me an idiot, so be it.
