I picked this up a few days ago and was thinking about maybe selling it (MAYBE) I like it alot. I was just wondering what it is worth. It is # 000593A. Any help is greatly appreciated.
sorry. the books i have give a generic price range across all issueing banks. Some banks are quite rarer then others. I do not have a book dedicated strictly to National Bank notes, so i cannot even tell you if this is a rare bank or not. as i said.. sorry
I'm not an expert in these notes at all...I don't even have any of them. But, according to an older book of mine...Pennsylvania is among the more common. This is also a type 1 note. My book, which is a few years old (probably 5 or so) lists the notes value by rarity rating...rating this note a "1" (on a scale from 1 to 9, 1 being the most common and 9 being the rarest). The value for type 1 $5 "1" notes are listed as F: $11, VF: $15, XF: $18, CU: $40. I don't trust this book THAT much, but that should get you in the ballpark. Also, the book I used is Whitman's Guide Book of United States Currency, 3rd edition.
Whooooa there Cowboy!! Slow that horse down a bit...what you have is special!! I will try to give you the information that best explains what you have. First off, I do have the Latest edtion of Don C. Kelly's National Bank Note Guide and I found some intersting info on your note! As of current listings in the Census for 2278 DUQUESNE Nat Bank of Pittsburgh, there are {{96 L 29 S }} notes known. What this means is that 96 Large Size and 29 Small size notes are known to exist! It appears that the $5 note was issued from SN 1-17,893 and the value of the note in Fine condition is ~ $100 The value of a note changes by apprx 25% per grade higher or lower meaning that in Fine condition the value of $100 will change to $75 if the condition was Very good and approx $125 in very fine, one full grade higher! Grades are listed as Good, Very Good, Fine, Very Fine, About Unc, Crisp Uncirculated in his book! Thats what I have and I hope it helps. RickieB
so, if i understand you correctly RickieB... there are only 29 of those small sized puppies known to be roaming around? More could exist hidden somewhere, of course, but still - only 29 ... thats a cool low number!!! And yet STILL the value is low.... it shouldnt take long for that value to rise ... and quickly
When I posted that the low serial number was not significant, I did not intend to suggest that the note may not otherwise be scarce. Most banks that issued small sized Nationals issued them in small numbers so most of the serial numbers on small size Nationals will have low numbers. My point is that a low number on a National by itself is not necessarily indicative of a big dollar item. RickieB's information from the Kelly Book also needs more explanation. The survival figures are known notes of large and small size. The figure of 29 for small size is both Type I and Type II and inclusive of all denominations including $10.00 and $20.00 notes. It may be that there are 25 $10.00, 2 $20.00 and 2 $5.00 (or some other distribution). These numbers are also based on reported notes at a given time. The OPs note may or may not have been included in this number and additional small size may have been found (or otherwise exist but have not been reported) which are not included in census numbers in Kelly. Relative scarcity is only one of the factors that determines price for Nationals. I have a large size $10.00 note on a Wisconsin bank which reports only 5 large size known. I was able to count 6 large size on this bank at a show this past weekend in addition to mine (so much for the Kelly numbers). None of them were priced at more than $400.00 and all of them were still in the dealers' cases at the end of the show. This despite the fact that Wisconsin is one of the more heavily collected states for Nationals.
Quite the contrary lettow, The $5 Type 1 with 29 known notes is listed by note denomination and type. The same for the $10, $20 and other denominations. Read carefully the explanation that Mr. Kelly provides and his tables are fairly easy to read. He states that condition is the main indicator of value as well as scarcity of notes and the banks that issued them. I am strictly relating what is in hios book and used it exclusively to support this persons request. I would be happy to scan the table listing the information for all to if you like? Regards, RickieB
Hello, Thanks for the great replies. I think I will take this one to the safety deposit box and hold on to it for a while any how. I think I will also check back with the man I bought it from and see if he has any others. Thanks again I really appreciate the help.
Two additions to what Lettow and Rickie said: Another indication of relative scarcity of a note from any particular NB is how much currency was outstanding when the bank closed. National Banks either called in their notes or people attempted to cash them out before the banks closed. Kelly's second edition says there was $493,335 un-redeemed when the bank closed in 1932. He further clarifies by saying that of that $493,335, $43,090 was in large size notes. So, there is aprox. $450,000 face value in small sized notes floating about. Figure a percentage is lost or destroyed. Even so, that leaves the potential for many notes to be "discovered" in the future. That could keep the price depressed as compared to a small size $5 from a different bank that only had $900 outstanding at its close. The second point is that demand has a big impact on what a note will sell for. If there are fewer folks looking for your note, the price it would realize would be lower than if perhaps every member in CT was looking for that particular $5 NBN from that bank. It's all about supply AND demand.....Of course it only takes another interested buyer to make a sale. Regardless, It's a VERY cool note and a great addition to any collection. Best!
