$100 Bill - Any Premium Involved?

Discussion in 'Paper Money' started by Honolulu Dick, Sep 10, 2010.

  1. Honolulu Dick

    Honolulu Dick Junior Member

    This AM, when cashing a check, the teller provided me with a Series 2006, $100 bill, having a SN of 47472020. It's brand new, crisp, sharp corners and absolutely no folds. If it were a single, a fiver or a sawbuck, or even a double sawbuck, I would save it without hesitation. Being a $100 bill, it needs to have or offer some 'special' [?] value in order to be retained.

    How would you good folks handle this situation? Your opinions are welcomed.

    BTW, the sister bill having a SN of 47472018 was also included.
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  3. krispy

    krispy krispy

    Nice find. I think you could see some value over face but I can't say how much. Sorry. You do seem to have condition on your side which tremendously helps things out. I'd probably handle it by putting it on eBay since it sounds like you can't really afford to hang onto it in your personal collection. I have no thoughts on the 47472018.
  4. Daggarjon

    Daggarjon Supporter**

    if its not a star note, i doubt selling it on ebay would cover the face value PLUS all the listing fees, shipping, paypal fees ect....

    just as a side question .. what are the block letters? did you look the note up on www.uspapermoney.info to see if the note is from a small print run or a low printing district?
  5. SteveInTampa

    SteveInTampa Always Learning

    Without a scan of the note, (to check centering) and assuming it's NOT a star note, I would consider the note a spender. Notes that repeat are not even as valuable or rare as radars, and even radars are selling pretty cheap these days. Maybe one of the other members here at CoinTalk will give you something over face, but I doubt it would sell for much at auction. Nice find tho.
  6. krispy

    krispy krispy

    I understand where you guys are coming from regarding the low value (not-worth-it-to-list) as a fancy SN but in this case that number may attract a lower budget collector who wants a special-looking SN. I'll suggest that on eBay, with a minimum BIN of no less than $150 to cover fees you may find a buyer, albeit an uninformed buyer. Perhaps even list it with a high $195 BIN and a 'Best Offer' price that is set up to automatically accept offers below the BIN and you may do better than you think. I don't think you can loose much listing this if it doesn't sell, just loose a week holding a $100 and some minor listing fees. If you are bored, try it.
  7. SteveInTampa

    SteveInTampa Always Learning

    I don't know what current listing fees are, and maybe you can catch a special offer on eBay to list it, because "nothing ventured, nothing gained"......but, I was just there looking at the completed auctions, and even the CH-CU $100 Star notes are going un-sold with starting bids of $120.
  8. krispy

    krispy krispy

    About 9% ends up going to fees on eBay, then shipping on top of that. It's not cheap.
  9. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Cool note! especially in gem crisp! unfortunatley like the other,s here suggest wouldnt bring
    Much of a premium if anything, but it would make an excellent poker hand :)
  10. Daggarjon

    Daggarjon Supporter**

    i would think ethicaly, an informaed seller would NOT list this note on ebay with a value of $150 or $195 in the hopes of attrackting an 'uninformed' bidder.

    i am seriously surprised you would think that, let alone suggest it Krispy!

    If would want this note to go to a new home, and do not want to violate any ethics - figure out the ebay listing and final selling fees for an item of $100 with maybe $1 profit. List it with a BIN of that price. The buyer gets a note woth only face, and you make a small profit.

    Its NOT right to prey on the uninformed on Ebay just to make a big profit. How many threads on this forum are posted everyday warning other members about such scams??? New comers to the hobby are thrown away because of ebay prediters like that. This forum is about attracting new members, helping them gorw and learn, and most imprtantly educating them. NOT helping them become Ebay predetors. We already have enough of those!
  11. krispy

    krispy krispy

    Whoa! Jon, I think you are overreacting to a hypothetical scenario and overlooking that I specifically set values high with a suggestion to accept lower Best Offers that clear the sellers overhead expenses. I feel you have seized up on what I was trying to present since I used the word 'uninformed'.

    Perhaps, the most 'ethical' thing to do would be not to treat this item numismatically at all by reselling it for a cent over face but that's not how dealing/collecting works. A profit is to be made in selling and we see all the time questions about 'what is this worth' as collectors want to know, how much over face their item is worth in resale or for insuring. We cannot say definitively prior to a sale what a collectible item is worth to a particular buyer but an auction can help us understand what one individual thinks it's worth, informed or not. If the OP placed this note back in circulation for the next collector to hopefully find at face value, it would become devalued quickly whereas now he has an opportunity to see a little profit for presenting the item to the collecting community who may shop eBay.

    This was also about how the note could be successful on eBay due to the general willingness of typically uninformed buyers to pay more than an item is worth... but that's a part of collecting you cannot assess in general as collectors are frequently irrational. Many collectors do everything they can to educate themselves and negotiate for an item so that they only pay the minimum on a given item while others seem crazy in their willingness to overpay to acquire items for which the other collector will completely disagree with overpaying too much for. That is not the sellers fault.

    I think the note has a very slim chance at selling at all, but on eBay and with the amount of undereducated bidders with big wallets willing to snap stuff up I was suggesting that at eBay, anything is possible. It's not the sellers ethics, not mine at least, responsible for such 'successful' sales. eBay is particularly full of uninformed bidders and that is not the sellers fault so long as a seller describes their item accurately, presenting honest images of the item for those buyers considering the item.

    This situation is not about a sellers ethics nor is it preying on buyers, so please take a step back and consider again... It's not unethical for a Seller to ask any amount they so choose to ask for an item nor is it to be expected that a buyer will agree to buy that item. A non sale would prove an inflated asking price is too high or market unacceptable. An inflated BIN price on eBay may include: the face value of the note itself, a nominal fee over face, the listing fees, built-in 'free' shipping costs a sells incurs, PayPal fees and any final auction fees due to eBay. Again, that's the item itself, an amount over face, s/h and the 9-12% that goes to eBay/PayPal. It adds up and informs the price.

    Now, recall that I suggested a high BIN with an automatically acceptable lower 'best offer'. If some buyer agrees to use the high BIN without doing their homework on value that is not the sellers fault. If the buyer does not use the Best Offer option provided, which suggests the Seller DOES accept a lower value than BIN, then the haste of a buyer using a BIN is the buyers choice. To them the item was worth your asking price, again their fault for not understanding how Best Offer works, nor possessing the patience to learn how to barter with Sellers which is part of the hobby, negotiating.

    Prices are arbitrary and irrational as are collectors' mindset for all categories of collectibles. The scenario I presented is far from a scam or what you are suggesting is predatory in nature. This differs greatly from those threads we see here pointing to fakes and hyped rarity for grossly inflated prices, often with only a BIN and never a Best Offer plus most of those threads exclaim common items as something they truly are not, rare and excessively valuable. The SN in this case may not be fancy or valuable in your estimation, but that doesn't necessarily go for all others.
  12. Daggarjon

    Daggarjon Supporter**

    We can agree to disagree here. my percieved value, or lack their of, plays little into my thoughts of the suggestion in your post. I fully understand that others collect and hold significant value in their collections of items i to not or would not collect. While i agree with your point that sellers are in the business to turn a profit, your suggestion goes well beyond that. Selling a note with a BIN valued at double its estimated value is suggestive in nature, and with the hopes of an uninformed buyer snaping it up 'without doing their homework' is wrong - i dont care how you spell it. Especially if a potential buyer could easily realize with a little reaearch as you mentioned the note holds little value, if any, above face. thowing an item up with an overly inflated price is very normal on Ebay, i agree with you there - but thats NOT the issue i have with your suggestion. And further defending the suggestion that an irrational or uninformed buy might take it - im just surprised.

    Maybe my opinion on this is a minority here, but we all have one.
  13. ML94539

    ML94539 Senior Member

    There isn't much demand for $100 bills, I bought 7 all CU from 1934-1950 for $110 to $120 each, some are graded CU64.
  14. krispy

    krispy krispy

    The only way for us to know if this particular note is of any value to any buyer, beyond it's face value, is to list it and see whether or not it sells and for how much.

    There are multiple ways to approach the listing. I see nothing unethical in my suggestion. I do not expect $195 to be what this note sells for just because I placed a BIN for that amount, but at the same time, it wouldn't surprize me to find someone via eBay willing to pay that amount either. Am I to turn them down if they turn out to be an 'informed' buyer who felt it was a bargain at $195? I fully expect a non-sale of this item both at the $195 BIN and during this economic period. At best, I'd expect to see a successful sale at the price approaching my low end, which would be my minimum accepted 'Best Offer' price of $140 or possibly $150, and if it sold at all... it would probably be to an interested and 'informed' buyer.

    Of course our opinions may differ and that's fine, but I don't think it's fair to suggest the idea I have proposed is unethical when compared as you have to other glaring examples of price gouging and scams. I never said to misrepresent the item, but to try to maximize without doubling face value, the price of the note. We haven't even seen the note yet to judge it's condition by. I might restructure my pricing on that or choose not to suggest listing it if it's not what the OP says it is grade wise.
  15. RickieB

    RickieB Expert Plunger Sniper

    Please post them.. $100's graded often go for 3-4 x face depending on Series and condition..if you did get them at that low of a cost, then you did well.

  16. ML94539

    ML94539 Senior Member

    2 1934-B Mule (J-Kansas City) $100 FRN (Crisp Uncirculated)
    2 1950 (J-Kansas City) $100 FRN (Crisp Uncirculated)
    1 1950-C (J-Kansas City) $100 FRN (Crisp Uncirculated)
    2 1950-D (J-Kansas City) $100 FRN (Choice Uncirculated-64) CGA
  17. ML94539

    ML94539 Senior Member

    I paid $120 each for the 1934-B, and $110 each for the rest of them. plus about $40 shipping though..
  18. RickieB

    RickieB Expert Plunger Sniper

    Well then you did well..

    The 1934 B's list in CHCU in Schwartz/Lindquist at $450.00 ea
    The 2x 1950 Kansas City Notes list at $350 ea in CHCU
    The 1950 C Kansas City list's at $200 in CHCU
    The 1950 D Kansas City list at $250 in CHCU.

    Post the pics..would like to see them..

  19. SteveInTampa

    SteveInTampa Always Learning

    Amazing snag...there isn't one of them worth LESS then twice-face
  20. ML94539

    ML94539 Senior Member

    here are some of them img005.jpg
  21. ML94539

    ML94539 Senior Member

    the scanner cutoff some of the margin, will provide better scan later, i think they all should grade cu63
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