A couple were at the Danbury coin show yesterday with some valuable notes, one person in the know said that a number of the notes were worth over $1500 each. My recommendations to the couple were to join chat sites like this and PCGS' currency site for feedback and to try to find a currency dealer who would provide them an invoice they could fill out to get the best of the notes certified at one of the two major grading companies. No one offered to help them out with this at the show. Another step would be to compare what they have with current auction records at Heritage and elsewhere. Some dealers would offer a lump sum for the entire group of notes, which may be far from what they would get were they to get the notes individually graded and valued. Are these the best steps for people who inherit collections like this to take?
How many notes are we talking about ? Is it all US currency ? Most currency dealers/buyers will not make fair offers on non-graded notes, or without seeing the non-graded notes in person. I would recommend they deal with members of the PCDA exclusively.
There were half a dozen notes or more; a number of them were likely worth more than $1500. Is it hard to get dealers to provide invoices for do it yourself submissions by customers to grading services?
I have not used a dealer for submissions, and would suggest attending one of a half-dozen major shows that have both PCDA dealers and onsite grading.
Many people do not want to travel significant distances when the same thing could be done through shipping and submitting with an authorized dealer. There is no good reason why dealers should not be willing to spend a few minutes with a customer such as this and if the group of notes are worth thousands of dollars or more, give them an invoice and have them do the rest. Teletrade has a similar program for raw coins and notes, but in my experience notes will take well over two months to come back and then many weeks to be placed in auction.
Most PCDA Currency dealers will submit your notes for grading.......and if time is a factor, just pay a higher service fee and the grading will be done faster. Not all auctions take many weeks. Once again, if selling them quickly at auction is a concern, you could put them on a 5 or 7 day auction through eBay.
