Much has happened over the weekend so far. I have an opportunity to buy my first graded banknote. Wanted to get some feedback first! PMG67 $ 10 ST Louis for $100 Thoughts please? Thanks Forgot to add it is a 1934 C Series
anytime you can get a high grade note like that its a nice score. i have some 64's and 65's from 1934
I would think that would be a wise decision only if it is a note you want/collect. After checking the PMG Population report, your note has only 2 others it's equal, and only one note graded higher. I think the price is fair.
That's a very nice note & excellent grade,have you decided what series you will focus your collection on (Small/Large/Silver Cert./demand or FRN's (large & small. Years ago I was focused on obsoletes & fractional,then I realized that if I collected only one type I would lose interest in collecting that type on my budget very fast. Coin collectors call it a "Type collector" when you collect one very nice example of each. The price of completing an entire set or registry set(ask RickieB or mpcusa) is very expensive for most of us. I decided to collect what appealed to my eye and budget and have never lost interest in collecting paper. Another plus at "type collecting "paper money is you self educate yourself on reading about the type you are presently buying. This is fun & you will buy when you can afford a interesting note that will not break the bank.
Thank you everyone for the feedback. As mentioned I have the opportunity and I have not bought it yet. Connor1 I have not made up my mind and as I dig deeper into my project the more I find out how hard it is to get the information that I would like to present. I have already discovered the many types and sizes of Banknotes available and ithey are as diverse as the trees and flowers of this Earth. Hard decision no doubt it will be. For now I do not want to be too eager and end up upside down on my purchases. I really do not know enough yet to make the buying decisions. I am not even sure I want to get graded banknotes. What do you guy's do?
Buying graded notes is an excellent avenue for a novice, or any collector that does not trust their grading skills, or the description given by the potential seller. I believe it's also easier to sell your notes if you decide to go another direction. I own both graded & raw. Maybe 10%-15% graded, and the rest raw. It's taken time, but I've developed relationships with dealers and other collectors to where I'm comfortable buying raw notes from people I trust.
Be aware that it's easier to doctor notes than it is coins. I've seen obviously circulated notes on eBay reappear elsewhere in TPG livery, graded as MS-63. Not to mention that notes encased in plastic are harder to examine. Several of the methods I learned to grade and/or detect repairs are not possible once a note is mummified.
Zeplyn, I have years of collecting and buy graded notes by PMG or PCGS.Wait till you decide the type of note you like & buy a graded one,then decide if you want to complete the set $$$$ or as I said before just collect by the type of note that strikes your eye,their are no rules on what or type you collect,just have fun and don't take it so serious. Again without experience buy graded notes to play it safe !
Bob, I think this is great advice! Especially when you are new to an area of collecting. A little diversity in the beginning helps to identify what you really like. In the end I found I really like diversity. But that's just me. As Bob pointed out, it is a great way to learn and have a broader knowledge base. As far as the question in the OP - considering the age and grade I don't think you will have a problem recovering cost if you decide to sell it down the road. Let's assume that's true, is it something you feel would be a nice addition to your collection and is it in the budget? If the answer is yes to both, then go for it! Remember that there are an unlimitted number of pieces you can buy. Don't be afraid to walk away if it doesn't feel right. I looked hard at 3 different pieces this weekend and let all 3 go because I would rather save for something I wanted more! It is a constant battle in my mind (as an extreamly impulsive buyer) to say this is not the one. In the end I am sure I made the right decision. I am sure you will too! Btw: posted from my BB so I am sure this is full of spelling errors. Sorry for that. Good luck ~ Darryl
Ok, I am $115 bucks poorer than I was yesterday. It was $15 to ship it. I decided to buy my first graded banknote. I feel sort of proud but at the same time I am wondering if I made the right decision? So, where do I go from here? Yes, you got it, back to work to make more money I used the sellers image as I do not have it yet. I tried to edit off his name and got into the the right lower margin some, so it looks off. The margins are very nice and neat all around.
Woo Hoo! Congrats! There's always a first step and it's a momentous day for your collection! Can't wait to see it when you can post a scan.
If YOU enjoy the note, then you made a fine decision. I have more regrets about NOT pulling the trigger then I ever have about notes I own & enjoy. This is a beautifully centered example of what the average Joe had in his wallet in America after WWII in the late 40's-early 50's........$115 probably won't make you or break you.