Hi there! I have a postal note from 1891 that I received an offer on, and I wanted to make sure that it was a fair offer. I have a ton of medical bills & need to sell some of my coins & currency, & keep getting offers all over the place. The offer seemed fair, but then I saw similar postal notes on Heritage for around $700-$1000, so am I being offered a fair deal? (I had one dealer tell me all of my currency was worthless, same dealer wanted to give me $3,000 for all of my coins, which include an 1803 silver dollar, approx 250 silver dollars, some rare years, Approx 100 50cent pieces from 1806 & on & almost every year through 1900; and a few hundred other coins; obviously, he was trying to take advantage because I look young & I'm female, so why would I know anything about coins... Let alone that the melt value on my coins is 3-4x worth what he offered me besides the fact of my rare years & grades on them...). Anyway, including pics on the postal note & the fractional that is on the same page, & once I hear what you guys think, I'll tell you what I was offered (I just don't want to put numbers in anyone's head). Oh and please what you think the fractional is worth as he offered to buy that as well. Thank you so so much!!!
Postal notes are a tough item to price. Since you looked at the Heritage auctions you know that some went as low as $300.00 and some went for in excess of $4,000.00. What you cannot see is the number of them that were not sold at the minimum bid. A large collection of these was sold recently and many did not receive bids. Postal notes are a bit like National Bank Notes where the issuing office may be the price driver. Whether you have a $300.00 or $3,000.00 item will depend largely on how many people are interested in Ponca, Nebraska.
Thanks lettow! I thought it may be something like that; it's just been a difficult journey. I'd love to hang on to everything I have, as they were left to me by my Nana, who was my everything. But, unfortunately I do need to sell some stuff (won't bore everyone, as everyone has a hard luck story these days, but as my mom jokes, "it's not Murphy's Law, it's ***** law", meaning our family's "law". Basically, if we didn't have bad luck, we wouldn't have any at all....). Anyway, I like to look at the good things we do have, as life is short & we need to see the positive. I do have a bunch of stuff I really need to get graded, but, for now I really can't afford it, & I know that may end up being detrimental when it comes to selling them. I've gotten put through the ringer when it comes to coin shops. I found one I really like & trust back in Chicago, when visiting family, but I'm back in LA now & the one I went to here, the guy was extremely shady, & after years of owning a prominent shop in Studio City, was finally put out of business for his unethical ways. I probably need to post elsewhere, but hoping to find a good place in LA that I can find people to trust to work with, at least for appraisals. PS. I was offered $300 for the postal note & $20 for the fractional. Does that seem fair? Thanks for any & all input!
You may try contacting Vern potter (vernpotter.com), as I believe he's roughly in your area ans is, in my opinion, a well trusted and fair currency dealer. Don't go to a coin shop to sell currency unless you like dodging lowball offers, regardless of their reputation as a coin dealer. That's my experience anyhow.
Irishrunner, What you have is a Type IV postal note, of course from Ponca, Nebraska. I don't believe there are any others known from Ponca, so that is a positive regarding the value. The condition detracts somewhat, but judging by past sales data, your note could be in the $500-$700 range, which of course can vary depending on how desireable it is to a collector. (Bidding wars can drive the price higher.) The image you posted is not too clear. Can you determine what the plate number is? (It should be a number followed by a letter located just above, and to the right of the word "SIGNATURE" on the note.) That would aid my research. Thank you, and good luck with your note!
