I wanted to buy some graded bills -- Silver Certificates, low-serial number commons, etc -- for upcoming graduation and bday presents. Just looking at eBay, I am seeing much wider prices being asked -- many going without bids -- than for popular coins. For instance, non-special 1957 B Silver Certificates I see going without bids from $50 - $150. With so many variations with serial number, block number, and other variations that may not be captured in the PMG grading, it seems even graded currency pricing is much more discomtiguos and less-transparent than with coins. Am I right ?
The Silver Certificates you speak of are very common and even in the best Condition bring only a small premium if any at all, there are more factors That go in to paper grading then coin, just much more to look at which Is reflected in the price.
Thanks for the feedback...yes, I contacted a few sellers and asked why such a huge premium compared to what I am seeing in the (somewhat dated) paper money guide books. Reasons varied from stuff that makes sense -- super-low serial numbers -- to stuff that seemed more esoteric (block number or other arcane stuff). A few others noted the books go by Gem CU 65 and many of these were 66-68 PMG/PCGS. And I guess Ebay/PayPal fees added a bit, too. Whatever, I got a few to cut their price by a bit but others wouldn't budge. I keep seeing them re-list their stuff every 2 weeks without getting any bites and I wonder if they are just waiting for someone dumb enough or uninformed enough to pay way over sticker price.
There are people out there, for lack of a better reason uninformed are just Think something looks cool so they buy it, not really knowing the value A good way to lose your butt and money...LOL
Yup, I get it. What is surprising is that I can understand this approach on low-priced stuff like regular Silver Certificates. If someone pays $150 for a SC that is really only worth $100 or $50, it isn't going to break them. So I can see someone who isn't a regular currency collector paying way over market. However...on more expensive stuff....where you are only going to get committed collectors, I still see stuff way over FMV. High-denomination notes, Gold Certificates, etc -- I see stuff costing $1,000 - $15,000 -- and it's way over recent sales or listed price. So you wonder who they are banking on to take it off their hands. Nobody is buying a graded Gold Certificate costing thousands for a bday or graduation present. Graded Silver Certificate, maybe.
Unlike coins, there are limited catalogs valuing currency so values assigned by sellers are often WAG's that tend to be on the high side. If a seller cannot get an item sold MAYBE(?) he'll get the idea that it's overpriced and reduce it to something sensible. Sellers HAVE to research what an item has actually sold for, NOT what an item has been listed at. Many don't.
Forget the bay and go buy what you are looking for a your local coin shop. You'll do much better on pricing and get a better looking bill in the process.
A good example of this are the slabbed cut down BEP currency reprint souvenir cards. Most are graded 67PPQ or 68PPQ [I can't figure out why they all aren't 70's], and it says right on the slab is is from a BEP card, so why the slab premium? By premium, an example: the slabbed back of the 1878 $10,000 note reprint sold last week for $150; you can buy the card [and cut it out yourself] for $8 plus $3 postage. And these slabbed cut down cards sell at big premiums several times a week. https://www.ebay.com/itm/1878-10-000-Legal-Tender-Note-BEP-Intaglio-Impression-PCGS-GEM-68-PPQ-Eagle-/362201341700?hash=item5454e1df04:g:cRoAAOSwVA5aSmIJ&nma=true&si=4cUSQxoMCjLjA9kQn53Ow4djATY%3D&orig_cvip=true&nordt=true&rt=nc&_trksid=p2047675.l2557 [The link above goes to a currently available slabbed cut card, but if you click on the "view original item" tab at upper right, you'll go to the $10,000.]
Definitely will be spending more time at the currency tables at the coin shows I go to....most of the LCS have really crappy, 3rd-tier stuff in paper. It's funny, my parents recently gave me about 200 old bills including lots of SCs: $1, $2, and $5. Most are very worn but about 20% are in VF/Ch CU/Gem CU quality. I just put them in sleeves and sheets. If I thought enough of the top-quality bills would get PMG grades in the high-60's and would be worth paying for grading (either because I'd hold the bill or sell it) I would do so. Have never submitted before, so I am buying some various graded bills as a comparison and that'll give me a better guide I figure.
