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"Choices always were a problem for you." (me).

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Fenntucky Mike

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I've been putting together a group of notes for submission to PMG over the last month/s and I thought it might be interesting to get a few opinions on a couple of notes I have multiples of. The first group I have whittled down to six, these are notes that I'm torn over, notes that for the most part I consider equal using my minimal grading abilities. I know a person can't tell the condition of a note based solely on an image, I'm just looking for opinions on the things you can maybe judge like margins, serial # (fancy or not), ink quality/clarity, real or fake, paper foxing or staining etc. It is a group of six (remainders) 1,050,000 Karbovantsiv 1995 Privatization Certificates (notes), Pick# 101. I've grouped them together in two pictures, one of the obverse and one of the reverse, the notes are arranged the same in both pictures. If you want a close up image of one of the notes let me know and I'll post it. Let me know what you think the best note is and identify it by serial #, and thanks for the opinions.

Since we're looking at these I might as well write up a quick description/history of this note. These certificates were issued during the start of the period of mass privatization in Ukraine (1995-1997), this was roughly four years after Ukraine acquired its independence from the U.S.S.R. and marked four years of trying to solve the privatization problem amidst rampant hyperinflation and cash shortages. While under Communist rule, approximately 96% of all enterprises were owned by the State, not to mention all housing and land (this figure was closer to 100%). The four years after independence was spent trying to figure out how to value and distribute these assets, that only yesterday belonged to the "People". One part of the solution was to issue every citizen "privatization certificates", every person was to receive their share of the State's property and could use/spend it as they desired. These certificates could then be exchanged for shares in companies or used to purchase any of thousands of small ventures and properties which were sold through auctions to new private owners. Well this went about as good as one would expect it to in the Wild West period of Ukraine's recent existence. The certificates dropped in value as they were being printed, were often rejected at the auctions because of the inflation and then Ukraine launched its own currency in 1996 after the Ruble Zone was dissolved. For those reasons along with other factors an estimated 3 million +, individuals did not use their vouchers. The Ukrainian Government purposely dragged its feet in regards to privatization by, allowing the certificates to drop in value, only putting up for sale companies that were essentially worthless or had no market value to discourage the use of the Certificates, provided no explanation or documentation on how to use the Certificates and all the while allowing the government cronies to snap up the certificates on the black market for a fraction of their original value. Then, when the profitable companies, businesses and properties did go up for privatization/auction take a wild guess as to who had the Certificates with which to "buy in" to these cash cows, (now enter cronies and ex Communist Regime types). As a result an oligarchy was created in the governing class of Ukraine. This, along with several other factors lead up to the Orange Revolution in late 2004-5 and then the Euromaidan Revolution in 2013-14.

Obverse.thumb.JPG.45930572b2ac6aebb36093d8c455f026.JPG                   Reverse.thumb.JPG.7cc4ba8fe4b3726d4a702a56d0bbd0cd.JPG

I'm not even sure if PMG will grade one of these, I'll have to check prior to submitting. Even if they don't grade these, I still need to identify the best one/s. Don't worry, I wont hold anyone responsible for the grade/s if I do send one in. :)

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I don't know if I can be any help on which is best but that's an interesting bit of history to be sure.

Ultimately you'll have to get it from PMG but given that they are government issues I wouldn't be surprised if PMG would encapsulate them.

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12 hours ago, Revenant said:

I don't know if I can be any help on which is best but that's an interesting bit of history to be sure.

Ultimately you'll have to get it from PMG but given that they are government issues I wouldn't be surprised if PMG would encapsulate them.

No problem, just looking for people's best guesses. In the end it's up to me to pick one. After looking at the images again, I really don't like the margins, left margin on the obverse in particular, on #1935283. I'm pretty much ruling that one out of contention unless I or someone else sees any issues with the other notes.

It sounds like they are loosening the reigns in regards to what they will and will not grade. It has a Pick # and is in the registry so I figure the odds are good. 

I pulled the trigger on a couple of "cashed" Certificates yesterday. Remainders are fine but nothing like having a legitimate "note", a little piece of history.

Edited by Fenntucky Mike
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5 hours ago, Fenntucky Mike said:

It sounds like they are loosening the reigns in regards to what they will and will not grade. It has a Pick # and is in the registry so I figure the odds are good. 

Given what I've seen of late, if it has a pick # I think you're probably good.

These one-use, cancelled items are interesting but they tend to not be a pretty as the notes.

Maybe one of these years I'll have a full graded set of Zimbabwe's traveller's checks. I think that would be something.

In some ways I'm happy that this new series of Zimbabwe notes is probably not going to explode into another 27 note run like the 3rd dollars.

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4 hours ago, Revenant said:

These one-use, cancelled items are interesting but they tend to not be a pretty as the notes.

100% agree, but they tend to have more of a story behind them, I think, especially if they were used. Ugly or not, this one is part of the set (which I agree with) and I'll add it in one day. I tend to be a bit over the top with my collecting habits, I'll try to add as many (what I think are relevant) items to the sets as possible, even if it is just for my personal collection/s at home. I can really get carried away sometimes with varieties or related items to add to my collections, making them more complete in my mind (telling a broader tale).

I was actually doing some research on a set of items I bought last year to supplement my Ukrainian banknotes. I wasn't going to post them but now that I'm thinking about it they may be worth a journal entry. To Be Continued.....

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