I still don’t have a P-3 at the moment and I still have that nagging hole in the set, but I recently won an auction for a P-1d – one of the highest grade examples you can ask for – a 68 EPQ Star.
This thing popped up on my radar about three months ago when it and a 68 EPQ (no star) were put up for sale with price tags of $190 (with the star) and $100 (no star). They were up for auction and those were the starting bids.
Buying a P-1d was a dream and a goal of mine for over a year now but getting one of these notes at those prices would have easily made the note the most expensive note in my set. I could not make myself pull the trigger on a bid even though I knew I’d hate missing out on such great examples of the note.
Apparently, I was not alone though in that no one else bid and they went unsold, so the seller posted them as a BIN at the same prices as the old starting bids. They sat on inventory for a while after that.
I kept expecting them to sell but they didn’t. My problem wasn’t that I thought the asking price was unreasonable. I have seen rarer varieties of the 1st dollar notes go in auctions for ~$125 before and these were 68s. I was just having a hard time convincing myself to pay that for one.
As time went on the thought of adding one of these to my set grew one me and I was close to ordering the 68 EPQ (no star). I couldn’t convince myself to go for the start for $190 but I did like the idea of getting this scarcer variety for my set in a really nice grade. I was just waiting a few more days to pull the trigger – lucky me as it turned out.
The Star note got pulled from the BIN listing and a few days later popped up in an auction with a starting bid price of $100 – same price as the BIN on the non-star. At that point I decided to go ahead and wait a week for the auction to end and see what it would go for. I knew the 68 EPQ was unlikely to sell in the interim with this one up for auction. So that made me feel safe enough to wait longer.
I waited and no one bid. So, Friday night, with the auction ending at 2:30 AM Saturday, I put in a bid of $114 and went to bed hoping for the best. I woke up the next morning and found out I’d won it without other bidders.
I was going to be out of town for a few days soon after the note ended so I casually bid on some of the seller’s other auctions and waited a few days to pay, knowing that would help make sure it was delayed shipping out and that it would not arrive when I wasn’t home to receive it. I’m glad I did because it still came just a couple of days after we got back home.
Its really exciting to have this and to have a complete variety set for at least 1 of the 4 first series notes.