Help Wanted - 1899 Black Eagles

Discussion in 'Paper Money' started by DUNK 2, Jun 2, 2012.

  1. DUNK 2

    DUNK 2 Well-Known Member

    I've got 2 consecutively numbered Black Eagles (Elliott/White signature combination). Looking for as many expert opinions as possible. . . .

    1. To Grade or Not To Grade? I'm considering getting these professionally graded, but I'm curious to hear other opinions. If you're "FOR" grading, which service? Right now, I'm leaning toward PCGS Currency.

    2. Beyond the pictures I've attached (sorry if they're not the best quality), these Notes still show the blue and red threads, have no apparent folds/wrinkling and show no signs of general blemishing/dirt marks. Paper still has a "crisp" feel. Any opinions on value?

    Thanks for all your help.

    Attached Files:

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  3. jhinton

    jhinton Active Member

    Depends, do you want to keep them or sell them? If you want to sell them, then get them graded. PCGS or PMG, dosen't really matter on those notes, either one will work.
  4. vnickels

    vnickels Matt Draiss Numismatics & Galleries

    Looks like a nice note from the photos, but slabbing it will make it more "saleable".
  5. DUNK 2

    DUNK 2 Well-Known Member

    No interest at all in selling. . . These are keeper Notes. Just very interested in how they would grade and value.
  6. vnickels

    vnickels Matt Draiss Numismatics & Galleries

    Oh ok, They look really nice to me.
  7. funkee

    funkee Tender, Legal

    If you plan on keeping them, it might not be worth the cost to have them graded.

    They look like nice notes, and will probably grade AU or higher from the pics. You can grade it yourself. PCGS has published their grading criteria here:
  8. Dr Kegg

    Dr Kegg Star Note Fanatic

    Based on centering issues, they most likely won't grade above a 64, but could still be worth sending in for the fact that horseblanket notes in higher grade always sell for a premium. I think that would be the case here if you ever decided to sell them. Also, slabbing them will further protect the notes from any sort of damage compared to normal holders.
  9. DUNK 2

    DUNK 2 Well-Known Member

    Dr Kegg - - You mention the protection from having the Notes slabbed. Maybe I just don't fully understanding the grading services' currency holders, but that's probably my only concern with having these graded.

    I currently have both Notes in BCW currency slabs. These are very hard plastic holders that snap together. In reviewing the PCGS holders, they appear to be a heavy plastic (mylar) material that at least appears to be "bendable" and not as rigid as the currency slabs.

    Maybe you can better educate me on the grading service holders (I'm leaning toward PCGS).
  10. krispy

    krispy krispy

    You can read up more on the holders at the links below...

    While more rigid, BCW holders are not sealed in the protective manner of say the PMG Holder.

    PGCS Currency holders
    may require different storage care, as they are not sealed like PMG holders, allowing the notes to breath suggesting that oxygen deprived notes may deteriorate on their own under sealed circumstances. The materials of the plastics is important as well for long term care.

    As long as the plastics you are using to store your notes in are in keeping with known archival materials and you can maintain your collection in relatively stable environmental conditions avoiding excessive heat, light and humidity, you can preserve your notes for a long life. This does not mean you need the subjective grading of a TPG to obtain such collection protection but their holders are an industry standard, are widely accepted and provide excellent protection, even in extreme cases like fires where notes have gone unscathed and reholdered after an incident.

    While the BCW holders may feel more rigid and give the allusion of greater security, how do they stack up to almost imperceptible things in the atmosphere: the air-quality, it's humidity, etc where you store these notes? Would smoke get into these BCW holders were there a fire? Even if inside a home safe or a bank's Safe Deposit Box? You have to assess all those factors, beyond the semi flexibility of archival slabs TPGs find to be the best protection. We can see that the TPGs have elected to use these less rigid holders and yet provide superior protection as well.

    Safety is often an illusion, e.g. more rigid feels more secure. That may or may not be true. The grade may be unimportant to you but the value may need to be determined for insurance protection were the notes needed to be assessed for replacement value. Many would turn to the most objective subjective source they can count on for a third party opinion, companies with a strong and long term reputation in this industry like PMG or PCGS, which an insuring company might accept their expert opinion on grade, and in turn how we may arrive at a value in the market place for replacement were these notes lost, stolen or damaged.

    If you are seeking value for insurance purposes since you indicated you are keeping these notes, then be sure that your insurance covers numismatic collectibles. Not all home owners policies cover the full collectible values of numismatics. The ANA has links to agents they recommend for special collection protection, but you should check with your own provider if you have any questions or assume your collection is fully covered.

    As for the grade, I would agree wit Dr Kegg's thoughts, even though it's really hard to tell what these notes look like without seeing good scans of the notes made out of the holders. If you can scan the notes, take them out, place them on the scan bed, away from the edges of the scanner. Place a dark piece of paper behind the notes to help define all margins of the notes. Use a high 300 dpi resolution and save a file for upload online with the longest edge of the image file somewhere between 600 to 1200 pixels in length. That should afford us the best view of the notes to attempt to narrow the grades.
  11. DUNK 2

    DUNK 2 Well-Known Member

    Thanks Krispy. Helpful information!!!
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