The Shiek

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Latest Acquisition

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Sheik Sheck

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After shopping for the vaunted Bison for several years, I finally made the plunge. I am trying to pick up only EPQ when at all possible since observing sales, the slightest comment can cause the price to be extremely volatile. The most minor of comments, NET or not, seems to reduce the price by quite a bit. I'd like to hear your opinions. Bank Note Reporter noted that recent auctions seem to ding notes with "closed pinholes" or "minor repairs." PMG tends to obscure the topic by assigning NET in a somewhat arbitrary fashion. NET can really kill the value of a note, no matter how minor the flaw. Thus, please enjoy my EPQ Fr-122!!

Fr_122_$10LT_PMG_45_EPQ.jpg

Fr_122_$10LT_PMG_45_EP_Rev.jpg

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:busy:couldn't find a buffalo emoji here, just a bee.  Bee--utiful note!  Thanks for sharing!

Edited by ddr70

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There is life on these boards! I am curious what the buying and selling trends are in the currency world so I try and keep up with Heritage, Ebay, Stacks, Lyn Knight, Great Collections..etc  I want to know if I am going to break even or not if I ever liquidate my collection. Unlike collecting nickels or quarters in a cardboard holders, paying significant money for a lot of currency begs the question of investment potential. Of course one must by the note, not the holder, but if the note is common, any comments or NET has risk. For rare or hot notes, comments are less important but it seems NET's and comments can result in incredible discounts to the actual value. Definitely a hobby one must do their homework. Thanks for the comments. 

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My comments:

it seems like about 5 years ago currency collecting was hot, not so much now. I checked Heritage auctions one time and saw that the some expensive notes bought years ago are now going for less than what they originally sold for.

One of the problems about selling is the commission that these auctions charge. you basically have to make 10-30% profit on what you bought the note for just to break even to pay them the commission. And of course there's more people getting their notes graded shows that there's more notes out there. Greater supply, lower demand. 

PMG is not the same as NGC. NGC provides a newsletter that can tell you which coins are hot or not. Also they have better records on the prices with auctions. Even the BEP now sells there notes now through the u.s. mint.  

But I still enjoy collecting currency much more than coins. PMG is doing a good job going international. But the same thing with coins I have no idea about world prices value I would never buy a note that isn't graded by PMG to ensure its authenticity. 

Good luck. Keep us informed and what you are noticing in the buying and selling trends. 

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Truly. Many notes have actually lost value over the last 10 years or so. Even the really expensive rare notes have even seen some decreases since 2013-2015 and it's fairly apparent that the highest note prices were prior to the crash of 07-08. Also, I see folks bidding on Heritage are reselling on Ebay for a razor thin margins. I wonder how many real collectors are out there! I have noticed that really nice notes that have large populations have more or less remained constant over the last 8 or so years. So yes, that commission eats you up when you resell.  Banknote Reporter has scant mention of price trends so you're right, there is very little guidance on price trends. One really has to watch the markets closely to even get a feel for it. T&P is good, I just never found it a particularly useful guide on price trends. Doing searches on Heritages ~600,000 notes sold is the only way I can really keep up on trends. I have noticed you can take a bath if you try to resale notes with any flaws unless the rarity of the note precludes those flaws and that seems to be on really expensive notes. And of course, as I have said many many times, buying ungraded notes is Russian roulette. Finally, the traffic of this board compared to NGC or other coin sites is really the nail. This board has a handful of us posting. PMG has let this web site flounder. Many folks update their note collection but no one shares their ideas. Maybe because us currency collectors are the oddest of the odd but i do love it! 

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I don't really consider myself a note / currency collector. I just have my one, very narrow and targeted, area of interest in notes and beyond that I'm about the coins. But, even in my narrow focus, it seems like prices have generally declined since 2015 / 2016. I'd mostly chalked this up to a drop in interest as we gained more distance in time and people forgot about the Zimbabwe hyperinflation. I still think that's probably a big factor in that series but it's interesting to hear that prices are down mostly across the board. But I'm no currency expert.

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I switched my collecting focus from coins to currency and then got hooked on Nationals.  I switched because I couldn't find good values in coins whereas those depressed currency prices over their highs a little over a decade ago drew me in.  I'm learning quite a bit--learned a lot when I bought Kelley's National bank note reference.  My parents gave me five series 1929 $5 nationals, two of which have very low census numbers so they are now graded and posted in various competitive and signature sets.  One is so common I wish they had spent it :-).  I prefer large size notes over small, but I still look at small and sometimes win a note.  Soooo... let me plug my newest signature set--the theme is Citizens in the title of national banks.  It would seem they are generally rarer than their First National Bank rivals and I have over a dozen posted with pics now.  See https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1289&Tab=list

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