As good a result as was possible, given obvious flaws. What do you think I can fetch for this Chief? I'm thinking a midpoint between 20/40 sheet for bills without the derogatories. Heritage archive results suggest higher. But...
? Your loosing me with this part of your reference. I'm an old man. Don't make me think, I get confused easily.
I think he means that the price he'd realize at sale would be less than the book value for the grade on the slab but more than for a VF20.
I think you'll need the right buyer, that's alot of missing paper to pay VF prices for. I think F15 might be where you will end up getting a taker at ($400 or so, maybe a little more).
Salty: Sorry. inarticulate reference to greensheet. My July, 2014 sheet has dealer bid at $440 for VF20 and $975 for XF40.
Thank you gentlemen, those explanations have me back on track. I do hope it works out for you. I think you have more optimism about the outcome than I. Honestly, I feel PCGS over graded the note. It has some objectionable features I try and avoid. But opinions do vary.
PCGS only grades the paper that is there. They will not deduct from the grade for paper that is missing. They consider that "net grading" or "market grading" which is not in keeping with their standards. It will not get the PPQ designation. A few years ago there was a lively discussion on the PCGS board about a FRN that was missing the right quarter of the note but what remained garnered a grade in the 60s. My opinion only, but I would prefer a whole note even in Fine condition over this one. There are enough of these notes in the marketplace that I would pass entirely.
Lettow is correct. PCGSC gives "apparent" grades to notes with derogatories. "But for" the bad stuff, this would be a 40. PMG gives "net grades," which is more subjective. This one might come back 20 Net or 15 Net.
Gotta play the cards I'm dealt. I paid VG money for it, so I'll make a few shekels when I sell it. Having it graded was worth the expense, as the bill is sharp and crisp. I was hoping for 40 App, and actually got it. what may not be apparent is that the missing pieces were apparently the result of fire. there are visible char marks along the edges of some of the missing pieces.
Quoting Lettow; "My opinion only, but I would prefer a whole note even in Fine condition over this one. There are enough of these notes in the marketplace that I would pass entirely." I tend to agree with this statement. When I view notes like this, the first thing my eyes are drawn to is the major distraction of the missing pieces......not the beautiful artistry of the design of the note, but the imperfections. I would also rather choose a note a bit more worn, but intact.
No disagreement, Steve. If I was buying this for my collection, I would have passed. This was part of a multi-bill deal, all of which have since been sold, except this one.
I generally like the note, but agree with the others that I can live with almost any sort of damage aside from tears and missing pieces. A good buy at VG money, though.
