A reputable dealer really lowballed me on some 1914 FRN's (including a red seal Philly), telling me the paper money is "soft" right now. Is now not the right time to be selling? The only notes worth mentioning are: 1914 FRN - $10 Philadelphia Red Seal, PMG F12 (894a) 1914 FRN - $5 San Francisco Blue Seal, PMG XF/CF45 (891b) - White/Mellon, Small District #12 on lower left 1914 FRN - $5 New York Blue Seal, PMG F12 (851c) - White/Mellon, Blue Seal to Left of District # upper right And.... a $10 1995 S/N #99999997 -- Ungraded but would grade 65+. He offered $200 for the lot? Has the paper money market really been spiraling down thus much? Also, I have a bunch of foreign bills (some worth a lot in Krause, but probably not in this country except genuine China 1949/1953/1960/1980 (complete 3rd series and complete 4th series).
Paper money is so confusing and even harder (and more expensive) to grade - so subjective. Does a "NET" grade on a PMG holder devalue a note as much as a "Details" grading on a PCGS/NGC holder? I've always wondered that...
The MPC market is down considerably since it's peak 2005 to 2007. 200.00 is a low ball offer for the OPs notes.
It seems to me that the dealer was offering about 50% retail, and that does not include the almost solid ungraded note. That may not be a lowball offer, in that if the dealer specializes in high grade notes and does not have customers for lower grade notes, he might have to sell to another dealer who has the customers for those notes. If you can make it to the ana in chicago this year, you can shop those notes around to many dealers and see for yourself if the overall market is soft or what.
I find the market is always soft for what I want to sell, and hot for what I want to buy. Always. Put some pics online and post them in the For Sale forum, you'll get more than $200 for it. Heck, the red seal will likely go for close to that I'd imagine if condition isn't bad.
Attend the MPCFest and you ill find any MPC you want in grade for better prices than you will see elsewhere.
It's on my list...next time I get stationed Stateside. From what I've read it sounds like a pretty good time.
MPC's don't really hold value but are really cool considering their historical significance. I would try heritage auctions (HA) as there are some MPC's on there that sold for WAY less than they're worth. Probably because everyone on HA is focused on key date coins, not MPC's or paper money in general. Good luck! Don't forget the replacement MPC's with no 2nd letter at the end of the serial!
Yeah even he admitted it was somewhat lowball... Apparently that reputable dealer didn't even realize at that point that there were different varieties of the FRN red seal (2), and the White Mellon Signature (3), and that I had the scarcer varieties.
The red seal in this variety lists $800 in 2013 Krause's Standard Catalog of US Paper Money in PMG F12... Is there a more accurate/up-to-date guidebook for "retail values" out there? 2013 is kinda outdated, and the market might've tanked.. not sure.
1914 FRN - $5 San Francisco Blue Seal, PMG XF/CF45 (891b) - White/Mellon, Small District #12 on lower left 1914 FRN - $5 New York Blue Seal, PMG F12 (851c) - White/Mellon, Blue Seal to Left of District # upper right The above 2 sell for about $300.00
Actually lost a few auctions on Heritage lately How well they hold their value isn't something I'm terribly concerned with, I would love to complete a set! All the replacements I've seen are way too expensive...sorry for derailing this thread.
