I'm making a separate thread for this question, because I don't want to interfere with joyful star note discovery threads. Why is everyone excited about collecting asterisks?
They are notes issued to replace damaged ones and are therfore different to the run of the mill issues :smile
But aren't they pretty common? And an asterisk in the collection is rather low impact, isn't it? Instant Karma: I just found a star $1, crispy unc, in the pile of cash I'm about to pay the sushi delivery guy with. I guess I'll keep it, but only because you guys like 'em!
Some notes are more common than others, just like coins. If one particular federal reserve bank only makes a few thousand star notes, those will be worth more than the one that make a few hundred thousand star notes. For the last year I have looked at every note that has passed through my hands and I have found three. One of the three was a bill someone else was giving as payment and I quickly swapped it (with permission). I bet I handle at least 40 to 60 different notes a week. so that's between .05% to .1% of the notes I have had given to me in circulation that are star notes. (that does not include the one I took from someone else). Now you see a thread like the one with over $1900 in star notes and you have to say that's an anomaly. Maybe some areas get them more than others. Maybe near the reserves that print star notes often? I don't know as I am not familiar with exactly how they get distributed. If and when I get them I like to hold on to them, to me it's like finding a silver rosie . To each their own.
These are a "worth finding" more than "worth buying" phenomenon, right? The one I just found is from Atlanta, if anyone cares..
keep that one. that is a rarer one. you can go to this website and look up to see if its rare or common. if the serial number is in the white box, spend it, its common. if its in a colored box, keep it. its just for reference though.
Many people care. That's why there are currency collectors. They are just like coin collectors but a different set of parameters. THere are many variables to take into currency to determine value. Many have been mentioned such as full serial number, series etc. It goes way behond that. As for "worth finding" more than "worth buying" one could make that argument. In the same token one could say a 1909-SVDB is more worth finding than worth buying as well. Good luck finding one and there are a lot of notes that have LOWER printing numbers than SVDBs AND they get destroyed when worn out. In essence there are MANY collectible notes that have fewer remaining examples than an SVDB and they get destroyed when worn so the numbers drop even further. My real point here is to not summarily dismiss currency collecting. I'd be willing to bet that you have spent notes worth well over face value without knowing it. Would you do that with a coin?
I'm not discussing whether currency is worth collecting. I asked what the big deal is about possessing a note which derives its collectibility solely from the existence of an asterisk. It's an incredibly minor attribute. Given this, it's reasonable to question whether such an item is the type that the majority of collectors keep if they find, but don't put much effort into purchasing. A more accurate parallel from my perspective would be finding dateless buffalos, which you generally pull out of your change, but don't go chasing around the internet to procure. The market value is low, thus you tend to keep what you find, rather than go out and buy.
Invictus, I understand where you're coming from. You are looking at it from a coin collector's point of view. Let's look at it this way. Suppose you collect Kennedy halves. For some poeple one example from each year satisifies their needs. However, others want ALL examples from ALL mints including the 98-S Matte Proof. I collect both coins and currency and believe me currency collectors are a different breed. Some just want a set of every denomination from any given series - even if they are circulated. Others collect only singles and want an example from each block (a block is the letter comination in the serial number - for example F09191090D would be an F-D block). Depending on how one collects just a single denomination from a single series can run into hundreds of notes. Some of those notes will be VERY difficult to obtain and will fetch a nice premium especially in CU (Crisp Uncirculated). Star notes will often fall into the "premium" category. When I was exposed to a lot more cash I pulled a lot of currency out of circulation. Much I kept but I also sold a lot. Yanking a one dollar note out of circulation then selling it for $20 was always a good deal for me. We are, for the most part, collectors on CT. We all have our own tastes and wants. That little asterisk can mean A LOT to some people. Kind of like that silly little mintmark. Hey, it's just a letter right? So if I happen upon a 1932 Washington quarter in change what's the big deal if it has a D or not? I'd like the D but that's just me. Don't mean to come off as harsh here just trying to explain what people see in that little star.
invictus - your question goes much deeper that questioning the collection of star notes. What I mean is why do people collect anything? I think, everyone has there own reasons. Clembo and DeOrc have been doing such a great job or responding I have been staying out of it. Well now in my so-normal verbose way, I will also weigh in. Pupa was able to score all those notes from someone that had been saving them from circulation for how many years? I think the big deal is that's what some people enjoy to collect. Do you have coins (cents, nickels, dimes, quarters, or halves) in your collection that are obviously circulated? I do, I also have thousands of foreign coins that are worth less than the holders they are in. Why, because these are what I enjoy collecting and obviously not for their monetary value. I am trying to fill a 38 to 63 nickels album with finds from circulation. The value of those nickels when complete will probably be less than the album. I still enjoy the hunt though. Look at this quarter, http://i235.photobucket.com/albums/ee123/USS656/1952QuarterObv-1.jpg I paid a $1 for the air tite at a local shop because it was convenient. Is the quarter worth as much as the container? Who cares, I got the quarter from circulation so it's worth putting in a $1 coin holder and keeping in my collection. There will come a time when I give them to my kids to enjoy. And maybe they will give them to their kids to enjoy. I wish I had some coins and old notes passed down to me from a couple generations. To know that my grandfather took the time to save them - for me it would make them very special regardless of value or condition. Collect what you like! If star notes or even notes in general are not your thing, don't collect them. If how much they are worth is what motivates you to collect - that's your prerogative. I will never knock you for that. Collect what you like - and respect that others will do the same. (That is not a pointed comment, just how I like to act) Everyone here comes from different walks of life, with different access to this hobby, and different reasons for why they collect. It's all good because we can learn a little from each person that participates. If we shut down someone for what they like, how can we learn from what they might contribute? I agree with clembo that your questions are reasonable and I mean no criticism by my response - so please take none from it. This is my opinion - and I'm sticking to it .
Being a type collector focusing on artistic content primarily (with allowances for historical value), your comments expose my prejudices. I wouldn't really care about a mintmark, except to properly value an item for sale on the market to those who do care about mintmarks. And from the perspective I just described, the value of an asterisk would be decidedly low. Which is why I needed to ask the question, to try getting some insight into others' desire for star notes (aside from simple scarcity). Then my inquiry became convoluted by my immediately finding a star note! :goofer:
I was trying my best to avoid going into the relativistic arguments of collecting as a phenomenon, but I guess we'll always end up there when discussing "desirability." Thanks for the response. These chats are fun
I agree that these chats are fun and also a great way of building understanding on a number of different levels! In quality control we love the term "root cause analysis". When you ask the type of question you did, I think you have to break answers down into it's simplest terms and the origins of what causes certain behaviours.
See my post to "Star Note Jackpot" I know a little bit on this subject. I am willing to discuss printings, notes known , low and high numbers known, etc on small size notes. The Referance is Oakes and Schwartz....
