2nd & 3rd Tier SC's -- Worth Selling ?

Discussion in 'Paper Money' started by GoldFinger1969, Aug 25, 2019.

  1. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Hey, I got about 200-250 old silver certificates from my mother/grandparents. Most of them are in really bad condition -- I would say PMG scores of 20-50, from what I see on comparable notes of various denominations. They are all pretty much common SCs.

    I'd say about 100 I have loose and not in any holders (mostly grades <50)....maybe 100 I put in those 4-to-a-page plastic sleeves (grades mostly of 50 to low-60's)....and maybe 50 I put in individual currency holders (grades mostly low-60's to 56 or so). Those are my guestimates for grades; for all I know even the best ones I' have might not even hit a grade of 65.

    There are so few paper dealers compared to coin dealers I'm wondering if it's worth it for me to try and sell the 2nd and 3rd Tier SC's (I'll definitely try and sell the individual currency holder SCs or just keep 'em). My LCS won't even buy any SCs and he always buys coins from me (no market for SC's, he says).

    I'm wondering if I should just take the 2nd and 3rd Tier SC's to the local bank and cash them in for a few hundred dollars or whatever their face value is. Even the 1st Tier SC's I have are so common that unless they are 65s or higher, I doubt I get more than double face value (and most are $1, a few are $5's).

    Thoughts ?
     
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  3. ldhair

    ldhair Clean Supporter

    The dealer is correct. Too many out there to bring much more than face value. A dealer friend of mine used to give them away in change.
     
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  4. Numbers

    Numbers Senior Member

    If you do try to sell the circulated notes, the best way might be to put them on Ebay as bulk lots of several dozen pieces. You won't get much premium, but you should get enough to more than cover the Ebay fees.

    Check for star notes first, though. On a silver certificate, the star would come at the front of the serial number. It's probably worth separating those out and selling them separately.

    This all assumes that you've got common series--1957s and common 1935s. If you've got something better, like a funnyback or 1935-plain or 1935B, that would also be worth pulling out....
     
  5. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Typo...I meant the 1st Tier that I put in individual currency holders I guestimate are PMG-rated low-60's to 65 (not 56 :D ).
     
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  6. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Thanks....I think some of the 1st Tier ones might qualify for a grade of 65 or higher....maybe even some are 67's and 68's. I don't know. Maybe they are low-60's for all I know, as I'm not great at grading.

    Maybe those are worth selling (if not, I'll keep 'em) ?
     
  7. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Saw a few of those, they are in the 1957B series. They're in my Tier 1 group.

    The thing is, there are rare/valuable batch numbers and other prints for each year that it could be a rare subset but I don't have the expertise/time to check it out. So a bill I have that might be at best worth 2x or 3x face if the condition is as good as I think it is might be worth 10X or 30X or 100X if it turns out to have some rare batch or plate or whatever characteristic.

    Thanks....gonna go look at them tonight....I had them for years and finally put them in holders/sleeves a few months ago.

    Maybe I'll take some pics and some of you can tell me if any are moderately-valuable based either on print run or condition (though I doubt any/many of them are Super Gem 66 or higher).
     
  8. GoldFinger1969

    GoldFinger1969 Well-Known Member

    QUESTION: How accurate are the prices in the reference books (U.S. Paper Money/Small Size U.S. Paper Currency) ?

    Mine are 10 years old (27th and 9th Editions) and while I don't expect them to be super-accurate (certainly not as much as Ebay or Heritage actual sales), I notice that they have common $1, $2, $5 bills even in FINE condition (~12 on PMG scale) as worth 2-3x face value (seems high to me).

    Not that concerned as we're not talking about a big change in value in aggregate, just curious.
     
  9. Wingnut6999

    Wingnut6999 Currency loving custodian

    For me, I would see if there are any full sets,35 or 57 series, keeping the nicest. As mentioned before, any star bills, or funnybacks etc, I would hang on to. The rest after checking for rare or errors would go in bulk. But that's just me.
     
  10. Burton Strauss III

    Burton Strauss III Supporter! Supporter

    Usually, reference books are FULL RETAIL prices, what they sell for in a nice coin shop. Also out of date by 12-18 months when the book is issued because it takes time to publish and distribute.

    Those prices are not what you could sell them for.

    There's also a certain minimum bias... just because of the costs of doing business and having cash tied up in inventory and insurance and rent and heat/lights and and and - there's always a floor price below which dealers don't bother.
     
  11. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Thanks Burton...yeah, I kinda figured, I was just looking for a quick way to get ballpark figures for those SCs I have. I think most are going to be FV or maybe a bit above except for the ones that are GEM CU 63 or higher. Even those might only get 2-3x FV unless they have some condition scarcity.
     
  12. GoldFinger1969

    GoldFinger1969 Well-Known Member

    INHERITED BILLS: Well, I finally had a chance to start cataloguing the old bills mom gave me.

    Most of the Tier 1s (the bills that at 1st glance look brand new and without flaws to an average eye) are probably CU 63 and higher.
    • 33 1957B $1 Silvers.....FR 1621
    • 64 1963B $1 bills.........FR 1902B
    • 10 2003 $2 bills (seq)...FR 1937I
    • 5 1976 $2 bills...........FR 1935B
    Others in Tier 1:Some 1957 and 1957 A Silvers....some 1963 $5 bills with Red Seals.

    The Tier 2s are probably XF to AU in grade and include:
    • 13 1957B $1 Silvers....FR 1621
    • 3 1957A $1 Silvers......FR 1620
    • 3 1969 $1 bill.............FR 1903B
    Others in Tier 2: Some $1 bills 1935 A, E, and F.

    The Tier 3's are mostly FINE and grades higher but multiple flaws are easily ID'd:
    • $1 Silvers 1953/1953A/1953B....FR 1509/1510/1511
    • Several 1953, A, B $5 bills.........FR 1655/1656/1657
    Others in Tier 3: Several each of the ones in Tiers 1 and Tier 2, plus A-H (except D) for the 1935 SC's, FR 1608-17.
     
  13. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Been scanning HA and Ebay...unless these SC's grade 68 or 69 tought to justify sending them in alone for grading, let alone or the less-quality and less-expensive bills.

    Oh well......:oops:
     
  14. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I am sorry to be the barrier of bad news, i actually have many mint *STARS*
    67 and better max value is between $18 - $20 and your talking non stars
    So probably in the neighborhood of $5 - $7 this would be for the 57 Versions
    The others would be less, though pictures would help to determine
    Value.
     
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  15. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Yeah, I kinda figured that MPC....not a surprise so don't sweat being the bearer. :D

    Aside from some sentimental value in preserving the best of the lot, I might get lucky and find some 67/68 bills in the bunch.

    BTW, I don't disagree with your assesment of their value, but it is interesting that Ebay AND HA both will find SC's and $1/$2/$5 commons selling for high double-digits or $150 or so. With a low absolute cost, I think people sometimes are saying "screw it" with paying above FMV and just saying I want the bill.

    It's one thing to pay $2,000 for a note that always trades for about $1,000. But I think people are OK with paying $50 or even $100 or $150 for bills that should only cost $20, $40, or $60.

    JMHO.....:D
     
  16. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I am all for collecting what you want, and even paying to much ! but everybody
    including me is guilty of that :)
     
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  17. James Shields

    James Shields Member

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  18. GoldFinger1969

    GoldFinger1969 Well-Known Member

    And it's tough to get direct comparable sales that are recent.

    You got to Ebay or HA and the closes matches may have been auctioned off 9 months ago or even 2 years ago. More recent sales may be for a more popular block or Fed district.

    Take Saint-Gaudens coins, or even the 2009 Ultra High-Relief. It's alot easier to get comparables for those given more transactions for items with less variation.
     
  19. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Your right, on the rare and hard to find stuff its very difficult to get accurate
    Information, and trying to find it on ebay or heritage which are like apples and
    Oranges as its hard to compare the two because its really like two different
    Collectors i know several with in my network of MPC collectors that wont
    even go near ebay...LOL
     
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  20. mullah

    mullah New Member

    I buy them from dealers all the time. Essentially I break them up and resell them in lots on Ebay.
    If you want to do the work yourself that would be your best bet, you'll cover Ebay fees and make a bit more than face value. Otherwise if you just want to make a quick sale and not deal with it, I would be happy to help you out.
     
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

    You asked for it...you GOT it !! Some of the notes I referenced in this thread.

    OK...first up, some 1957B Silver Certificate star sequentials....Fr. #1621.....I'd say at least 63, agree ? Higher ?
    1957B $1 SC FR #1621 sequentials front.jpg

    1957B $1 SC FR #1621 Star NG back.jpg
     
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