It seems i can't resist picking up some paper whenever i go to my coin dealer and today was no exception. This FRBN is far from perfect but has no rips or holes. I paid 50$ which i think was a fair price.
Yours is far nicer than these 3 I picked up last week at a flea market for $30 each. Mine are all in F-VF or so. These are my first FRBNs.
You guys are doing it right... picking up very undervalued currency. These FRBNs have been over looked for way too long. The scarcity of them is generally unknown to the public, especially the high denominations of $50 and $100. Congratulations on the additions!
I didn`t realize how scarce the FRBNs were. Most of the $20 were only issued for a few weeks in March 1933. Even the highest issue NY had only 2,568,000 notes released. The Atlanta had under a million. Amazingly cheap. Sure, these notes are in the condition that makes them starter notes, but you have to start somewhere! Bruce
The number of note released are not that high... you are quoting the number of notes printed. The number of notes in high grade are few because they simply were not saved except by the wealthy. Many notes such as National Bank Notes can ONLY be found in circulated grades except those saved by Bankers themselves. FRBNs are no different. Try finding a San Francisco $5 in unc.
Dollar, you mean not all of that number printed were issued? Currency grading seems looser than for coins. Do you agree on my grade of F-VF? I used to have a fair amount of currency back in the day. I only have 3 large size notes now, and these FRBNs.
bz; Not all notes printed were released. Many notes of this type never saw daylight. The only reason these FRBN's are available is that most collectors still confuse them with Nationals and the National Banknote collectors do not pursue them. They are rare when compared to Federal Reserve Notes, as rare as most small size Nationals, but have not been in demand. This has nothing to do with them being common. They are not. The large size FRBN's were the very same story except they are now highly prized. You are accurate in grading them F/VF in my opinion. A VF should have 70% of it's original body and only honest wear, without problems.
My coin shop guy did have a San Francisco FRBN(20$) which was in about the same condition as BZcollektor's F/VF.I think he was asking in the range of 75$ for it. He also had a beautiful 1899 black eagle silver cert(crisp unc) and aVF/XF 5$ indian chief,both were around 500$. I was tempted to pick up one of those but the price tag scared me off.
Silver Surfer; the price of a 1899 silver certificate $5 in VF/XF should be considerably higher. If there were NO serious problems with it. The $1 would be priced about right with the market. You might want to consider the Chief. They will always be in high demand and the supply will not be increasing...
I must be over grading the 5$ chief,it must be more of a F-FV condition. I think it was certified but can't recall the actual grade. Id love to own one before they increase even more.
Thanks for the info dc. Like mintage figures with Morgan Dollars, I guess the notes printed figures don`t always tell the whole story.
Not to be disagreeable but do we know for a fact that not all of the notes were released?....I would think that the Feds would have sent them to the banks pretty fast and then the banks would have had to do something with them.... Speedy
Why should notes be any different than coins? We all know that 2002-2005 Sackies have never been released through normal distribution channels. Sold at an obscene profit to collectors, sure, but not sent to banks for use in commerce. The FR wouldn't release FRBNs to banks until they were called for by the banks.
True...I would think Paper money would be much more wanted since they don't last as long as coins but.... I have been trying for the past 2 years to get my bank to get a box of cents in...not for me since I don't collect coins past 1964 (unless they are silver-gold etc) but for some friends I trade with...well the other day the lady I know called and she has a whole box of 2005 UNC cents!!!! Speedy
Regarding small frbn's, remember that the larger banks/cities typically had much larger runs than smaller places. There will probably always be plenty of new york, philadelphia, atlanta, etc, though honestly the premiums seem to be getting bigger on these. I can't tell you how many 20's I've bought for $22 and sold for $25 over the years! Now even the common ones ($20s) are stretching into the $35-$40 and up range, while the scarcer notes are going up in value like crazy. I have a crisp unc $5 from Evansville, IN that I've not owned before and I paid more than $200 just to get it...can't sell it if I don't have it, right? The "one papa" $5 note should be available for less than $500 in vf/xf. I've sold my last 3 or 4 of these for $450ish. I've got one in the store now. Some days there's more action in currency than there is in coins! Nick
