This was my first "paper" purchase, and I was hoping to find out opinions on how I did... Picked up from my LCS for $40
Nice! I love the artistry that went into the old paper money ... sure a far cry from the cartoony stuff we've got these days.
It is a remainder note, one that was printed but never signed, numbered and released into circulation. The Bank of Michigan in Marshall has a reasonable enough number of notes that they are affordable.
your note was issued on the City of Marshall as well..as SM indicated it is a remainder..looks to be in pretty good shape and should have sold for ~$115 to 125 if Unc condition. There is also a $1, $5 and $10 Remainder/issue as well. All nice vignettes. Nice remainder!
Michigan is my home state, so I've always liked these particular notes, plus the engravings are terrific. Yes, I think $40 was a good price for this one. Now you just have to complete the series.
^Michigan is my home state also. That's why I picked it up. I do hope to complete the series some day. I never considered myself a "paper" collector, but I guess I may have just been bitten by the bug... One more question. Is this something worth sending in for grading? There are no visible folds, creases, rips, pin holes, bent corners, ect.
Obsolete notes haven't seen the slabbing mania the way it hit Nationals and other high value currency. I don't think see a lot of dealers with graded obsoletes, unless they are very rare notes. In my opinion, getting this one graded wouldn't be very cost effective. Others may disagree.
