Hi, I have a foreign paper money collection with a catalog value of about $50,000. Nothing fancy, catalog values per note range from $50 to $300, about 500 notes. Most of the notes were purchased at paper money shows during the last 5 years and are in uncirculated or about uncirculated conditions, but not all. If I decide to sell my collection, realistically, how much should I expect to get for it? I understand this may depend on the actual notes, but please give me a general idea. How close are the catalog values to the real values out there? I know that catalogs tend to exaggerate the values and that the real values are generally much lower, so that's why I'm asking. What is the general rule? Most dealers at paper money shows sell for catalog values and they refer to catalog values but what percent of the catalog value is in general the real price? I know there are exceptions but generally speaking what is my 50k collection worth? Please help. Thank you. -mouthgum
Hard to say, often catalog prices of $50 to $300 are in reality $15 to $100. In some cases a note listed for $40 in catalog can not be found for under $120. List some of the notes countries if you want more accurate assessment.
The best way to determine how much you would get is to make a list of the notes you have. You can then determine the grade and look for completed listings on ebay or Heritage Auctions. Then add up the price for a more closer realized value. It may sound like a lot of work but if you're planning on selling you would need to do these things anyway.
clarification Thank you for your replies. So roughly 30% of the CV? What do others think? My question was about your opinions on by what percentage the catalog values overstate the market values. Every note is different, but is there a general consensus for lets say 80% of the notes in the catalog? Not listing the countries at this time. Looking for the roughest estimate possible. If you were asked to make your most educated guess as to the market value of 500 foreign paper money notes from various countries with catalog values ranging from $50 to $300 (average $100 per note), what would it be? Is the only thing I'm asking. Thank you.
I would think it depends more on the design and/or history of the note. Some simply appeal to a wider base than others.
I will give you an example so that you can understand why it is difficult to give you a guess. A banknote from my country "Bahrain" has a catalog value of 500 US$ was sold at auction for 2,400 US$ + 20 % commission for the auction house! So, the only answer you can get is : it depends on the notes that you have.
There are so many factors to include, compared to the info you've given. - If you've got modern notes from countries that have not devalued their currency (EU, USA, etc) then they have a face value which should be fairly close to what you paid, assuming they aren't great rarities. - What catalogs are you using - specialized catalogs are more accurate than SCWPM. - Some areas have been hot in the last 5 years, if you collected from there you will have good news. I think your best estimate of value will be your purchase price, not some factor of the catalog value. Do you know what you paid for these notes? In my area (French-printed notes), I'd guess a price increase of 20% or so for an UNC $100 valued note in the last 5 years. Dave
This is either a joke or a troll. He fully realizes that he can't get a serious guesstimate without providing details. Perhaps the collection is hot and details would only bring heat from authorities. Some countries just dont sell regardless of the value of the notes. It's most likely worth $20-25,000 in today market. How did I arrive at that figure ..you ask? I pulled it out of my ....
500 notes is a large collection but one sure way is to take it to a few dealers and tell them you want to sell the collection, you may get a BIG surprise at what they offer if they are interested in it at all, some may not even want it, but at least you will know that the collection is not really worth any where near $ 50,000 no matter what the price guide books say. Bill Collector
Thanks for your replies Im fairly new to collecting and its not that I want to sell my collection but Id like to know whats it worth and if I paid a fair price for it. I go to a coin show and approach a dealers table... I see a note that I like and I look in the catalog and the dealer is selling it for the catalog price and gives me a 10-20% discount... I dont know the market that well and Id like to know if Im paying a fair price for it... Im not that deep in the market and Id like to know the leeway so I can bargain properly when buying or selling. At coin shows, I browse through dealers boxes and I choose a note that I like and I dont necessarily know much about the note at the time, all I have is the catalog... I dont want dealers taking advantage of me by giving me a 10-20% discount from the catalog price when in reality I can get 50% so I was wondering if there was a general consensus among amateur collectors. Once I went to a stamp show and a friend told me to be careful because most stamps sell for 30% of catalog. By the way, what are the countries that sell poorly? What is the best way to sell a collection? Is it to approach a dealer at a show, approach a dealer at place of business, ebay, or other auction? I dont have too many rare notes, most notes that I bought, the dealer usually had more than one and then I saw other dealers offering them for sale. I do have some nice ones, including France, but then I have Iran, Zaire, St Helena, Falkland Island, Seychelles, etc... Thank you for your replies. I havent decided which ones I want to sell and once I do I will post the details to see what people think.
Don't worry about it, it's to late, the horse has already left the barn, just enjoy your collection and collect what you like, collecting currency is not always about the the kind of currency you fold up and put in your pocket. From what I know about Foreign currency if you have 500 notes in your collection and have less than $ 500.00 in it you did ok Set back and enjoy it, I've found out many years ago that the more you worry about the value of your collection the less you will enjoy it. Bill Collector
