Your opinion on the $1,000 bill

well iam thinking about buying this $1,000 bill what do you think the owner wants
$4,700 for and thats what there booked at so sent him a message and will see if I can make an offer on it, I have been waiting to see if I can get a different district, picked are pretty slim and most have some sort of problem like pin holes torn corners etc, looking for a problem free note with no distractions this comes pretty close but what bothers me is a faint fold line on the front face and that may be a bit more then I can take, will see...

 

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Nice bill

 

Looks top shelf to me, very nice! That said I don't know anything about thousand dollar bills other than they're pricey and rare and I didn't know they cost that much. They have certainly gone up in price for sure!

 

Without PPQ you know the paper is not original. I see a spot under the top right "7" above "Series of 1934." I cannot really comment on the reverse image as its way too blurry ( & that's where most wear is much more obvious). That would be troublesome for me & I do see some blurry lines.

When it comes to this type of high $$$ transaction, I would check with someone who has Track & Price (or subscribe myself) to verity whether it was certified previously (with the same or lower grade by another TPG). Serial # are a great feature since they allows us to verify whether a note has been processed (unfortunately TPG's don't consistently label issues or why a note has no EPQ or PPQ). I wouldn't mind a note that has been pressed but I wouldn't want a note that has been washed (made to look a grade or 2 higher than it really is).

 

When comes to these types of notes its hard to find a note thats is problem free havent heard back from the seller on my offer so will see what happens.

 

Nice note

 

These days that is probably the right price.
Not too long ago that bill was $1500. What can you do?

 

They have really gone up in price thats for sure and they are in high demand to
boot, so not much you can do except pay it...LOL

 

I found this one as well, which is a couple grades higher well centered and an awesome front with that great lime image , what do you think on this one ?

 

Absolutely: nobody (who knows these series) would argue with you there. That is why if you can find a note which hasn't been tampered with (washed being the most common form of processing) it will retain/possibly gain value (& you will be able to sell it for more than what you paid for). A consideration.

Why pay for the wash job if you can find an example with original (even lightly pressed or note with minor pinhole) that would appeal to a larger collector base?

That's the challenge with these older series where the majority have been washed to make more $ then they would have had they been left in their original condition (minority). However, the tide is slowly turning in favour of original PPQ/EPQ. Even VF (& lower) have often been washed. I often see ungraded examples of tough notes that haven't been processed go for a steal b/c it showed honest wear (but wasn't processed).

The 2nd Philadelphia example looks more problem free.

The 1935 $20 example below, took me 4-5 years to find which PMG gave VF 35 EPQ:

After I purchased this I saw more notes graded higher (without EPQ) and dull washed out "rose colour" both for the obverse & reverse (no green planchettes). I consider this not more collectible b/c it hasn't been doctored.

 

Beautiful note in the high denomination world most notes have some kind of issue I stay away from notes that have comments or details, jus to many problems on the resale as far as EPQ is concerned many do not meet this criteria so you have even a
smaller group to look at.

 

When was it that cheap ? Mid-2010's ?

 

Can someone tell us what washing/pressing are and can we assume that any TPG certifying a bill as "EPQ" has not been washed/pressed ?

 

Washed notes have been washed with detergent & sometimes bleach. Then they're pressed flat to eliminate telltale folds. Overall, the appearance of the note improves dramatically & you pay much more for the same note (than you would have paid had they not been "processed" or "doctored)." In Canada, 1954 Devil Face notes & prior (1937 & 1935 series) were either pressed or washed (or both). At one time it was considered more acceptable to press/iron one's notes so more notes were pressed than washed. For US notes, I would expect it to be 1935 & prior but all series could have "processed" or repaired somehow.

-That's the general idea (that EPQ/PPQ signifies a note with original paper) however, PMG awards EPQ to signed notes (with ink), Indian & specimens with punch holes. Holes, paper pulls, stain, ink & toning should disqualify a "Q" from being awarded. I have seen a few dodgy looking PPQ notes (repaired or washed) from a TPG I will leave nameless.

My suggestion (as always) is "to buy the note, not the holder." In other words, learn to grade & search for the "tells" of a processed note. White lines where creases were? Probably washed. Check the note's edges, corners, look for smudges & diminished microprint/colour, etc. Compare note in question with untouched examples (for true colour, etc). I hate to write this but sometimes if nobody's bidding, then it is b/c the TPG has awarded a far too generous grade/missed an issue & collectors are spotting it (not bidding). "If it looks too good to be true," it probably is.

Here's a thread on a 1937 $50 that was clearly washed & processed to look far better.

 

-Thanks @mpcusa (it took a while to find but was well worth it when I got it back- looks EF).

 

Duplicate post deleted (sorry)