I won recently an auction , just bid on it without a reason except that I was buying other stuff from the selle and had a light interest in the lot, knew nothing about it. I paid $6 for 7 or 8 banknotes. Just checked Krause, older edition.. $220-240 total. One note is $100 worth. Colonial issues for Africa, UNC. Meantime, the lot had pics and everything..:desk: So whats wrong with it?
Vlad,that was a stroke of luck.You will have to post some photos of the notes when you get them.By the way,it is Pick that has the banknote prices,even though it is published by Krause. Aidan.
please post pictures! there's a good chance you lucked out and scored a great deal. the standard catalog of world paper money is pretty accurate for the most part...but it's far from being perfect. two examples: Congo Democratic Republic P-92 100 Francs UNC $150.00 ..............ebay price: $3.00 North Korea P-46 5000 Won UNC $300.00..................................ebay price: $8.00
Well.. I assume I even managed to overpay for these .. May be even 2-3$.. This Pick whomever he is really sucks, I was very excited.
Vlad,the Mozambican overprinted banknotes are extremely common,especially the 100 Escudos,whose overprint translates to 'Bank of Mozambique'. Aidan.
Vlad: How old is your catalog? The overprinted Mozambique notes were tough to find until hoards of them came onto the market in the mid 1990s. This underscores the importance of always having up-to-date references. Occasionally, collectors who paid good money for notes get burned when hoards surface. If you look at the entry for the British Armed Forces Special Vouchers in the older catalogs you will see prices in the hundreds of dollars. The British Ministry of Defence sold literally millions of notes in a single lot auction in the 1990s. The market tanked on these notes and they can now be found for a few dollars. Incidentally, Albert Pick is one of the most widely respected names in world paper money. He published the first catalog for world notes in the early 1970s. It was taken over by Krause Publications (now F+W) in the late 1970s. Although he is no longer involved in the Catalog, those of us who "grew up with it" over the last 30 years still refer to it as the Pick Catalog. You can usually identify those who have come to world paper money through world coins because they will refer to the Standard Catalog of World Paper Money as the Krause Catalog since that is what the Standard Catalog of World Coins also published by Krause is referred to.
ouch...yeah, those overprints hurt! your version of the catalog isn't very old. the 11th edition came out just four months ago- november 2006. i think the prices you were looking at were for the unstamped notes. here's an unstamped note listed in the catalog for $75 having that "BANCO DE MOCAMBIQUE" bumps down the price to under a dollar in some cases, like in this auction: http://cgi.ebay.com/MOZAMBIQUE-500-ESCUDOS these overprinted varieties have definitely oversaturated the market, and a lot of dealers are letting them go for a few dollars apiece. sorry.
How to define a rare banknote? If there are any equivalent to a mintage with new coins, or R-rating in ancients?
even though printing numbers are available, i don't think a rarity scale exists for modern general issues. i've seen one for certain banknote types, like U.S. errors, web press notes, and world polymer, but nothing for regular issues. take the ebay test. browse the "Paper Money: World" category. if a banknote appears more than 5 times from 5 different dealers, it's not very rare. those tiny hong kong cents, old issues from brazil, argentina, and peru, iraqi dinars...all those come to mind. also look at the prices. it isn't fool proof, since some people charge unreasonably high prices, but if something starts low and ends low...it's not very rare. a lot of people browse through ebay, and even though some rarities slip through, it's usually because those rarities are so obscure people don't know to bid on them. but a lot of collectors and dealers scour the listings for good deals. keep that in mind. also, compare the prices. the bahraini 20 dinar unauthorized issue (P-16) is listed 8 different times by 8 different dealers right now. twice for $9.99, and once for 11.50, 13.99,14.75, 19.99, 26.00, and 58.50. given the tips above we can assume this note is not very rare, and that it's value is closer to $10.00 than it is to $60.00. but the surest way to tell apart rarities from common notes: experience.
From my understanding Albert Pick is no longer involed because he is dead. I have also been told that F&W is eliminating the Pick numbers as well and is a new numbering system. now.
Here's an article on Albert Pick http://en.wikipedia.org/wiki/Albert_Pick . I don't believe that F. & W. are planning to do away with 'P' catalogue numbers.I think that new 'P' numbers will be created for new issues & reported unlisted dates. I think that the 'P' catalogue numbering system should be a continuous one starting from the number 1 in each country,just like the 'KM' numbering system is (or should be!). Occupation issues & military banknotes should be put into separate chapters in their own right,& those notes currently listed under the new country name should be put into separate chapters. Aidan.
I talked with George Cuhaj who now edits the catalog for F+W this weekend at the show in Chicago. They will not be doing away with the numbering system. They get enough complaints when they renumber a section of the catalog. There would be a revolution is they attempted to impose a new numbering system for the entire catalog.
well, what is a purpose of a catalog at all, if prices listed are not just proportionally unrealistic, but wierded out in all possible directions?
