"What's it Worth" $20 1902 & 1929 National Currency of Baraboo

Hello all!
I'm a coin-nut myself and don't venture into the currency world much, but my cousin is looking to purchase a couple notes and I'd really appreciate some unbiased opinions. These pieces are of interest because they're from his home town of Baraboo, Wisconsin and it looks as though notes from Baraboo branches are rare. They're both on eBay with a BIN or best offer price so I'm looking for an idea as to their real value / what would be a fair offer?



and.....

 

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Your large size note sold for $488.75 in 2003, and was considered to be Fine to Very Fine in grade. Here's the link to that very auction: http://currency.ha.com/c/item.zx?saleNo=322&lotNo=30073

Some other notes in similar condition:

http://currency.ha.com/c/item.zx?saleNo=3512&lotNo=21674 - $322 (2011)
http://currency.ha.com/c/item.zx?saleNo=3510&lotNo=16259 - $253 (2010)
http://currency.ha.com/c/item.zx?saleNo=141115&lotNo=32586 - $230 (2011)

Regarding the small size, there are two variations of this bank:

1- First National Bank of Baraboo
2- First National Bank & Trust of Baraboo

You have the second. There are a few auction records to go off of, but nothing for your specific note. I'd say your note would grade a Fine to Very Fine as well, or 15 to 20.

2012 eBay sale of "20" grade sold for $169.16 (SN# B000166A)
2012 Lyn Knight sale of "15" grade sold for $172.50 (SN# A000170A)
2011 eBay sale of "15" grade sold for $279.00 (SN# E000221A)
2008 Lyn Knight sale of "30" grade sold for $431.25 (SN# D000354A)

Hope that helps!

 

You da man Funkee! Thanks so much for all the information, this is outstanding! From the prices you posted I'm able to determine that the eBay seller was definitely smoking something when he came up with the BIN amounts. Now we'll just have to find out how realistic he's willing to be when it comes to best offers.
Thank you! :thumb:

 

Depending, I have had some success at 60% of BIN amounts. You can always start there and go up. I usually won't respond to a decline if it's from a computer vs an individual email.

 

Same here, I just don't like the informal automated process
Right now the seller is asking $1,400 for the 1902 and $1,025 for the 1929. They've had several offers, but all were declined so I'm thinking the seller might not be ready to let go of these pieces just yet. I will be making one on my cousin's behalf but am not holding my breath. Especially since it sounds like the notes actual values are significantly less.

 

The seller might have bought these notes from elsewhere and overpaid for them. He is probably not wanting to take a loss on these notes.

Perhaps send them the auction history on these notes. It may take some time for them to realize they won't get their asking price and might not even get what they paid. But that might help you secure it for a good price with a bit of patience.

 

The Ringling Brothers Depression Scrip from Baraboo is much more affordable.