Picked up a lot of currency at auction and in it was a 1929 National Currency not from the First National Bank of Princeton, NJ charter 4872. Serial number is kind of low 004504. Also, is it a type 1 or 2? I think after closer look it is a 2, but am not sure. This thing looks awesome. Don't see much evidence of folds at all. Paper is nice and crisp. Some minor discoloration and a little ink rubbed over from other notes maybe. I wanted to ask some opinions on value, and maybe grade. I checked against some auctions on Heritage, but in my opinion this note looks to be in better condition compared to the ones that I saw. Also not sure on the difference in value between type 1 and 2.
This is type 2. Type 1 wouldn't have the charter numbers 4872 printed in brown near the portrait, just the ones in black at the sides. In general type 2 is a bit scarcer than type 1, but you never know--sometimes a particular bank had a hoard of type 2 notes survive. I don't think 004504 is going to be considered a "low serial" on a National, given the fairly small numbers of them that were issued by typical banks.
Yea, I got the type 2 part after I made the post and didn't get the chance to edit. Looked more closely this morning and saw the charter number near bottom. What would you say for grade and value? I have seen such a wide range on Heritage... $80-200+ and I don't see much difference between type 1 and 2.
There are only 4 known $5 Type 2 note (old census so forgive me if that's increased) vs. 10 known Type 1 notes. A potential value is going to be a broad range for a note like this. Considering it's condition (AU in my opinion), I think it will bring in $200-$300 at auction if you get it graded and it comes back... say 58.
Do you think it would be worth getting something like this graded? I noticed the broad range for value, especially considering I don't even think I saw one like mine in type 2 sold on HA only other NJ charters.... However my cost is relatively low on this piece so it could be worth the gamble for added value.
Talking about in about the top middle of the monument? I think it is the reflection of light from the flash/background off the paper...I'll have to look more closely, but I didn't notice any holes
I believe it is worth getting graded if you believe it will come back at least 58 or better. Check out this guide to help you approximate the grade of your note: http://www.panix.com/~clay/currency/grading.html It will cost at least $30 + shipping/processing/insurance (total ~$50) not including a PMG (ANA) or PCGS membership. To save on fees, I usually send my notes in groups. If you're just getting one note graded, you could go through a dealer in your area who can submit the note for you. It may be more costly than submitting it directly, but you won't need to pay for the membership fees.
I do have a couple other things I could send in, but I took another look at this note today. It does have some ink smudges from other notes, or its own ink. Also, not sure if it is the paper itself, but there are some spots that seem sparkly/reflective? Hopefully someone didn't decide to coat it with something?
