Greetings Coin folks. Old time poster just signed up again. I'm locked out of my old account because the recovery email was my work email and now I'm unemployed without access. Oh well, new year, new you. I came across some old currency that I must have purchased in my youth. I'm going to take it in to the neighborhood LCS next week to see it they want to buy any of it. I've done some research and nothing appears to be that much above face value so I'm wondering if you all could take a look and let me know what a fair offer might be. It's $750 face so I was thinking about asking for $800.00. Am I giving them away? Would appreciate any information you can provide.
Selling it to your LCS is fast and convenient but considered the least profitable. Selling them, or auctioning them individually on a venue like eBay would attract more collectors but require a lot more effort. I really like the 1928 $50 Chicago note.
Yeah, thinking about it more, I think it might be more fun to list them on eBay. If they don't find a buyer then I can take them to the LCS. Thanks for taking a look.
If you sold the lot on eBay for $800, you'd realize $800, minus 12.9% FVF (about $100), minus postage and packaging, with the risk of someone claiming they weren't received or counterfeit. Since eBay charges a percentage of total sale price, not profit, selling low margin large denomination notes there is a complete non-starter. You're much further ahead spending them. (That's assuming the margin is low. I'm not a paper money guy, so I couldn't confirm that.)
Yeah, that's why I posted the pictures in the first place. If these were common and not worth more than face or a little more, the LCS seemed like the best route. I probably bought these 15 years ago when I was experimenting with all kinds of coins and currency and I never caught the currency bug. My only concern now is that if I happened to have something that has shot up in value and I was not aware. I know that I'm going to get low balled, and that's to be expected, but I didn't want to get beat up to bad because I didn't know what I had.
