A friend brought these notes into me for some help. I primarily do coins but I have some knowledge of currency. He got these in going through his father in laws estate. They were just in a dresser drawer, He brought them to me in an envelope. I put them in the sleeves and then took the pics. (sorry about that) I think that the $500 is high AU and worth grading. The $1,000 has the tear on the right side but has XF condition. What do you currency guys think? Ideas on the value and what to expect when he goes to sell? I did recommend Heritage to get The $500 graded and auctioned. Good advice? Thanks for the help folks
I don't think you can go wrong with auctioning them off but your friend would be wise to make sure he/she is clear on the fees (cost to auction it off & cost to have it graded). It may be better to sell them "as is" on eBay if the costs of HA are high. Try to list them via a Power Seller (who has lots of traffic) for a small commission. From comments on other forums, I've heard, only huge, well-known collections get a break on the substantial fees (if you stand up to them & negotiate) from HA (& the other big auction houses). My concern, just off the top & the front of the $500 is that it has clearly been repaired. You can see what appears to be 2 whiteout holes to the right of McKinley's portrait (eye level). They look like staple holes filled in. Also, all 4 corners are quite rounded, yet the note does look high grade, so other types of processing is likely. I see other blemishes/spots which may have been stains removed. The filled-in staple holes are "details" that PMG (or other TPG's) must document on the holder. Seeing the level of damage to the $1000 & its apparent high grade makes me suspicious of that note too (sorry, I'm just naturally suspicious after seeing so much processing!) There appears to be nicks/damage along the edges of both notes (which suggests they might have been trimmed). If you have a LCS nearby, it might be worth your friend's time to get an opinion there as well. Nice looking high denoms & just my 2 cents!
Not a Currency guy by far but common sense says to just "sell as is". Might not be worth grading because of the time and money spent to get maybe a little more. I don't know, maybe more?
Better to sell in their current condition. The $500 looks to have been repaired as just to the right of the oval the portrait is on are two small white holes. No photos of the back side which makes it difficult. I see rounded corners (slightly) but enough to cause problems. There looks like staining on the note as well. The $1000 bill has damage in the left side. Not just a small tear but two holes have been created. Both notes will grade lower than your estimates and with the areas I’ve mentioned it will not be worth the grading fees. The edges of both notes are a little rough. With paper money, condition is everything!
Thanks all, I guess my inexperience in currency is showing. This has been a great learning lesson for me. Thanks @Notaphylic_C and @Collecting Nut for the instructions. Thanks @SensibleSal66 for your input.
