Just picked up my first NBN from a teller friend and am very intrigued by them. Was wondering if there are any issuing banks that are THE bank to look for on these, especially for this final year of 1929? Anybody know of a site devoted specifically to them? Anyway, paid $30 due to some flaws but it's in pretty nice shape. Any stabs at grade/value?
Despite the title at the top, this is a Federal Reserve Bank Note not a National. FRBN were printed in 1933 as emergency currency in response to the Bank Holiday crisis of March 1933. The BEP used a stock of unfinished notes for Nationals in order to get them out quickly. The key FRBN is the $5.00 San Francisco note,
No offense, but it looks like you put a value of $30 on it. If it had value exceeding, say, $30, do you think you would have gotten it for $30??? Now, maybe someone needing it might pay a bit more, but I believe these aren't rare, and are very available....so, my guess is, the value is $30.
Isn't that what we all hope for? My blackbook price guide says that most are worth little over face, and that's what I paid. However, it also says that certain issuing banks are worth more and I thought it may have to do with whether the back cracked or not during the depression beginning on the date on this bill. Also, I paid base price and am unfamiliar with grading notes, so asked for people to help ascertain GRADE, and therefore VALUE. If you seek not to offend, then simply do not post such snide responses.
interesting This intrigues me even more... have you got any suggestions for reading material on these?
One book I love is the Whitman Encyclopedia of U.S. Paper Money and there is about a page worth of information in the "Bureau of Engraving and Printing 100 Years" book. I am sure you could probably find most of the information on-line if you search by "Emergency Currency 1933."
I believe $30 is a fair price for a VF25-30 1929 Boston $20 FRBN. Some collectors try to assemble a district set of 12, and some take it one step further, and try to include the star notes. I will include a link that shows delivery dates....http://www.uspapermoney.info/general/deliv_s.html. The key $20 (non-star) is Dallas.
You have to remember that markets will determine the value. Most black or red books are based on market value anywho. 30 is about right. Higher demons in good condition can get crazy! As for '29 NBN, those can get outright scary priced for smaller issuing banks. Many didn't even print $50's or $100's... They are fun to collect, but I don't even know if anyone has ever assemble all 14000 or so issuing banks? I have quite a few '29 FRBN, and I tend to gravitate towards I - L $50 and $100? I love I and J the best in any demon. To each their own BTW: because of the rush to get out those frbn, many are horribly offset! These are not errors in the since of being rare. Do not pay extra for these!
I think you got a very decent price on the bill. There's a couple of currency sellers online you can take a look if you want but I think you did pretty well. A great book on National Notes and other bills is the Friedberg Currency Book I think it's better written than the rest. Here's my one and only National Note for Sacramento, I got it for $80. When I tried to buy one at a better grade the prices had gone thru the roof. Story of my life. http://www.collectorscorner.com/Category/Category.aspx?catId=1697&tl=true
thanks for the info every1, nice stuff. nice note fretboard! the history behind these notes seems to jump out at me! I believe I've opened a whole new chapter to my affliction known as Numismatics lol!
Years ago when I went to Memphis a dealer asked If I still collect Nationals, of course I said YES, He showed me one with the Cashiers name was the same as mine. Well minus the middle initial. So I bought it. Now I'm looking for large size nationals with either a Vice Presidents or Assistant Cashiers signature on them, or both. They are around.
For a discussion of the 1929 FRBN, see below over at CU. http://forums.collectors.com/messageview.cfm?catid=23&threadid=496320
Very informative thread lettow. I was reading that just yesterday wondering why I haven't heard from John DeRocker (The Rock) recently.
