Hi there all! Been lurking the forums for quite some time, but first post Paid with a $50 bill yesterday at local 7-11, received this in change. Hard to find much information online about it, because there were apparently made in so many different places. Pretty beat up, but hey it was change, so it's pretty cool. Low serial number was pretty cool. Looking for any info that anyone might have about it. Thanks everyone! 1929 $20 Bill Cimarron, Kansas - Serial # D000010A
nice find! that serial number is definitely worth something. i would talk to a currency dealer about it. this link might be helpful: http://www.antiquebanknotes.com/rare-currency/first-national-bank-in-cimarron-kansas-13329.aspx
Hey that's great news, thanks! I thought it was a cool find even if it was only woth $5 bucks over face value...I mean hey, I didn't pay for it! And it's a cool part of history, cool looking bill too!
don kelly's book has it listed at 400 dollars. according to him, there are only about 12 out there of any denomination. a note from this bank has never come up on heritage auction however. track and price might have some data but i don't own a copy. basically, this note is probably worth anywhere from 200 to probably 1200 bucks depending on how you sold it. most likely, you'd want to sell it through heritage auctions. as far as i know, except for maybe an error, this is the most valuable bill i've heard of someone receiving in change in the two years i've been on coin talk.
It pains me to see this. It does happen. I think the most crushing thing for me is when 32 UNC 1934 $100.00 bank notes and six unc 1934 $50.00 bank notes showed up in the cage one day at work, and the young un-informed youth, thinking they were counterfeit sent them out for MUTILATION! There is more to the story but that's the short version. Lucky find on the 29.
I have the same book and it says 12 known. That being said, it does not list the known serial numbers so what you have might be one of those 12 known or an unknown note. That is something that track and price would know. Although this is a rare note based on number known...nationals can be an interesting beast. Could it be worth a lot...yes it could. It is probably worth a couple hundred dollars anyway. But, to the right buyer it could be worth a lot more. Perhaps there is someone from Cimarrion, KS (a town of just over 2000 people) who collects notes...this note might be a lot more valuable to that collector. I know I am constantly searching for nationals from my hometown (I own one). So, finding the right buyer is the real trick. Also, as for the low serial number...I don't think that adds a ton of value here. With so few known notes in existence, any example would be desirable. The low serial might be a nice little bump...but the rarity of the note in general is the key here IMHO. But, no matter what it is a very nice find.
All great info, thanks everyone! One question I have is how much does the not so great condition of the bill affect it's value? I know condition is a huge factor, and I know it can't be graded based off a picture. I'm more interested to know if in a situation where it's a bill as seemingly uncommon as this, does it still hold a decent amount of balue even in this condition? I know it's not what it would be if it were in great condition, but what are we talking about in this sort of situation? Any insight? Thanks!
Condition does affect value...no doubt about it. However, with pieces as rare as this, not as much as you might think. It all depends on how bad someone wants the note. For example, lets say someone really wants a note from this particular town. With so few known to exist, this might be the only chance they will ever have at one. So, to that buyer condition might not be a huge issue. For example, I grew up in Eugene, Oregon. There were 3 national banks in Eugene that issued notes (one of which has no known examples). Both of the other two have more than 12 known examples (but they are uncommon). I came across a 1902 $10 Eugene note a while back that was really beat up...but that particular town is what I look for. To me, the condition did not matter and I bought it. I probably paid more than most would have. Here is that note...you can see the condition couldn't be much worse:
also, from what i'm seeing the condition on this note isn't as bad as your suggesting. if you really want to see what this bill is 'worth' sell it through heritage auctions at the FUN show in January. seems to be the best auction for sellers of paper currency.
CamaroDMD - you are absolutely right in your assessment. nationals are a funny business. my price range was based on my year or two working with nationals, but they vary considerably. you get two people with deep pockets that want a unique piece and you are looking at thousands of dollars. the town i live in is like that. i probably couldn't get a bill for under 6000 dollars from it. and they low serial number doesn't mean too much here. since there weren't that many bills printed for this bank, all the remaining bills likely have pretty low serial numbers. only way you get a big premium on nationals is serial number 1, which often is in great condition because these pieces were saved. i actually know of very few national notes with serial number one that really were circulated.
So, I'm home now and I just found my CD that comes with the Kelley book that lists out all the known notes. For this bank, there are 12 known as mentioned before. 3 are $10 type 1 notes, 8 are $20 type 1 notes (which this is) and 1 is a $20 type 2. The known serials for $20 type 1 notes from this bank are: 57, 65, 90, 96, 107, 116, 138, and 149. So, this is not one of the known examples. Now, this guide was printed in 2006 so it is a little outdated.
More great info, so much appreciated!! At first, I had thought about not wanting to sell it, and more just learning about it and hanging on to it. However, after all this great info, I think I have decided to sell it. After reading what you all had to say, I'm actually now in inerested collecting some notes from Pensacola, FL where I was born, hehe. I know someone mentioned Heritage Auctions a couple times...is this my best place to sell it? Or is there somewhere/something better I can sell with to try to gain attention from someone that has a connection to Cimarron? Do I put a reserve on the bill in auction or just take a chance and hope it draws enough interest without? I'm new to this whole thing, any advice would be great! On a side note - thanks for checking on that Camaro! Even though that info is a few years dated, still cool to know that mine wasn't one of those! Question - let's assume that those listed there are still the only one's listed (that it hasn't changed since 2006). Would that then add to the value since mine is the lowest serial number known to exist? Or would we still be in the same boat as "they are all low numbers and it's already rare so it doesn't add all that much of a premium"? I'm just curious, as I want to make sure i'm armed with all the best info about it as possible now that i've decided to sell it. Thanks again everyone!!! :-D
I don't think it adds much value because all he notes have such low serials, being the lower than all the known bills is neat...but I doubt adds much value. Also, this note isn't listed in Don Kelly's database, but it might be on track and price...which I don't have an account of. FYI, there were 5 national banks that issued notes from Pensacola, FL. Based on a quick glance, two banks appear to be pretty common (charters 5603, 9007) and the other 3 (charters 2490, 4837, and 10535) and more rare. 2490 has 24 large notes known, 4837 has 4 large notes known, 5603 has 77 large notes and 920 small notes known, 9007 has 21 large notes and 44 small notes known, and 10535 has 4 large notes known.
Wow, more great info Camaro! Thank you! You represent this website and community as well as anyone could! I feel a new goal set - I want to own a 10535 large note. I'm excited already for the hunt!
