Question about 'cracking out' paper money and special labels

Discussion in 'Paper Money' started by treylxapi47, Oct 16, 2015.

  1. treylxapi47

    treylxapi47 Well-Known Member Dealer

    Hey Guys,

    I was curious about an issue surrounding a currency holder and it being from a prominent collection and noted on the holder itself.

    I dont really collect graded currency, and as such have my entire themed collection in an album for these things.

    My dilemma comes from the two new pieces I have on order bearing the EPN seal designating these pieces came from his collection. Ordinarily (on coins) I would want this to remain on the slab with the provenance kept in tact. However I want to add these to my album for continuity and dont know what to do.

    Does the EPN Logo add any value? Especially in a small niche area? Can it be replaced if the slab is 'cracked'? Should I just cut it out and save the label? Will I hurt my resale value by releasing these pieces?

    My gut reaction is that I wont be able to ever have this logo placed back on a label should I crack, but I still am leaning towards the way of releasing these notes.

    Any help or suggestions?
     
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Hi Trey,

    The best I can come up with is for you to photograph the currency and label together in the holder, then remove the holder and keep the photo and label with the currency for future resale.

    - Mike
     
  4. SteveInTampa

    SteveInTampa Always Learning

    It's too bad you are unable to keep the items in the holders. Unfortunately, once they are removed from the holders all bets are off....meaning that anything can happen to change the graded condition, folds, nicks, handling marks, etc. Some would argue that most everything from the Eric P. Newman collection will add value and provenance to the item. Once again, it's too bad you are not able to accommodate the items while still in the holders.
     
  5. treylxapi47

    treylxapi47 Well-Known Member Dealer

    I can keep them in the holder, it's just a matter of preference at this point.

    I don't do currency that much other than for a very specific topic, and I don't know the market and what weight is placed on TPG stuff, provenances, etc.

    So I am open to suggestions and learning whether or not it would be better to leave them in the Newman holders.
     
  6. SteveInTampa

    SteveInTampa Always Learning

    Any chance of you posting scans or photos of the notes ?
     
  7. treylxapi47

    treylxapi47 Well-Known Member Dealer

    Not yet.....I will soon though.
     
  8. techwriter

    techwriter Well-Known Member

    If the note is from the Eric Newman collection--DO NOT under any circumstances remove it from the holder, especially if the holder is PCGS or PMG. And even if it's in another company holder I would not remove it. You'll lose in the long run. I believe at this point your preference should be retaining the grade, authenticity, and any other provenance as attributed by a respected TPG company.
     
  9. thetracer

    thetracer Active Member

    To remove it would ruin its future
     
  10. techwriter

    techwriter Well-Known Member

  11. Collecting Nut

    Collecting Nut Borderline Hoarder

    Under no circumstances would I remove this from it's holder!! Your only justification for removing them from a sealed and identified holder from a prominent collection is so you can place them in your display album. Once you remove them any number of things can happen: damage to the bill itself which changes the grade, it may regrade lower but most of all and most importantly, you will no longer be able to prove that it is from a prominent collection. Even if you save the current holder you have no way to prove you swapped the bills.

    Please, keep it in it's current holder and forget your silly notion of removing them to place in your album. I don't mean to scold you but my heart sank when I read your post. :stop::banghead::banghead::banghead::banghead::stop:
     
    techwriter likes this.
  12. techwriter

    techwriter Well-Known Member

    Thank you, Collecting Nut! My heart did a couple of "pitty-pats" too. And for a note from the Eric Newman collection! Oh my. Well, I believe our poster will think twice and NOT remove it. Let's all hope so.
     
    Collecting Nut likes this.
  13. Collecting Nut

    Collecting Nut Borderline Hoarder

    Thank you techwriter. It's a good thing I was sitting down when I read that post. The thought nearly sent me to the hospital with a coronary! I don't have anything from the Eric Newman collection but I do have a few CSA (Confederate States of America) notes. The expensive ones, $800.00 and up are all PCGS notes. No way would I break them out. You loose everything and you'll never get it back. Several of mine are errors notes and 1 radar note. If I had a camera I'd post pictures. The most I've paid for one was $3500.00. It's very rare.
     
    swamp yankee and techwriter like this.
  14. treylxapi47

    treylxapi47 Well-Known Member Dealer

    So I shouldn't crack it. Gotcha.

    Hey that's why I came here to ask!

    I will say this though. These notes are unique enough that there would be little doubt to their validity if they were removed from the holder.
     
  15. techwriter

    techwriter Well-Known Member

    Well, there may be little doubt as to validity; but the problem would be it would NOT be the same as was the original sale AND a real skeptic would say a 'counterfeit' was substituted for the 'original'. I have not seen the auction catalog so don't know exactly what we're discussing; you will and you should if at all possible obtain a catalog, keep your original invoice, etc. That way authenticity and validity can NEVER be doubted by anyone. I've said enough, just hope you will retain the note in the holder as you received it. You own a real piece of numismatic history!
     
    Collecting Nut likes this.
  16. Collecting Nut

    Collecting Nut Borderline Hoarder

    I couldn't agree more with techwriter. Keep them the way you bought them, the receipts, the catalog and everything else you can get your hands on. You will be protecting numismatic history and your investment.

    You used the term "little doubt". When dealing with something as "unique" as what you have, "little doubt" is as big as Mt. Everest. You know how us collectors are-picky, picky, picky!

    Please keep them as you purchased them and be a small part of protecting and passing on to another collector a nice piece of "numismatic history".
     
  17. MEC2

    MEC2 Enormous Member

    Do what you want with it. It is YOUR NOTE, not Eric P. Newman's. It was in his collection. It's now part of yours, do what you want to make YOU happy. The provenance is established by the serial number, you can always resubmit it for regrading and it will certainly still retain the notation of his collection.
     
    swamp yankee and MitchBailey like this.
  18. treylxapi47

    treylxapi47 Well-Known Member Dealer

    Is there any way I can verify with PCGS or PMG (I believe it's a PCGS holder) that they will re-holder with the Newman logo if it can be proven to come from his collection?
     
  19. Collecting Nut

    Collecting Nut Borderline Hoarder

    You can call and ask but getting an answer today may not be the same answer tomorrow. There are no guarantees other than what you already have.
     
  20. treylxapi47

    treylxapi47 Well-Known Member Dealer

    Well guys I spoke too soon it looks like. Someone with deeper pockets than I got the pieces I was after.

    One was a $50 from the Bank of Commerce at New Bern
    1860 Bank of Commerce $50 VF-25 EPN Front.jpg
    1860 Bank of Commerce $50 VF-25 EPN Back.jpg

    and a counterfeit from 1814 (this bank/branch didnt exist)
    1814 State Bank of NC New Bern Counterfeit VF-20 EPN Front.jpg
    1814 State Bank of NC New Bern Counterfeit VF-20 EPN Back.jpg

    Both are rare pieces and I imagine one buyer picked both of these up for a tidy sum of about $2500 including the juice.

    The jokes sort of on them though, I was going for a grand slam as I had just won two other rare notes from my hometown that are markedly more rare than at least the above $50 note and I paid less than $500 for the two I ended up with.

    Both of these came from the Merchants Bank at New Bern
    1845 Merchants Bank $5 Front.jpg
    1845 Merchants Bank $5 Back.jpg
    1853 Merchants Bank $3 Front (Tear).jpg
    1853 Merchants Bank $3 Back (Tear).jpg

    The only other $3 note that has been spotted from the Merchants Bank is missing a portion on the left

    1853 Merchants Bank $3 Front.jpg
     

    Attached Files:

    swamp yankee likes this.
  21. treylxapi47

    treylxapi47 Well-Known Member Dealer

    I also have another 'Newb' question. Is there anything that can safely be done to repair the torn note? I mean its obviously already damaged, so im thinking a small piece of tape isnt going to kill its value any more. But of course, I feel the need to ask the forum so I dont actually ruin its value anymore.

    Oh, and do the Eric Newman notes I posted make sense on why they wouldnt be hard to identify and prove the EPN ownership after crackout? They are pretty unique and would be near impossible to counterfeit. (lol, counterfeiting the counterfeit, gotta love it)
     
Draft saved Draft deleted

Share This Page