Stupid Collectors Buy Ungraded Notes posted by Sheck_Shiek
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235 posts

I am stupid

 

This is the last time, I promise!! I will never be STUPID again. Several Ebay dealers that continuously get 5 star feedback for selling ungraded notes. Probably because the buyer never gets the note graded. I have learned my lesson over and over again that ungraded notes that are rare or valuable are UNGRADED FOR A REASON. These rare or highly desirable notes have probably been looked at and looked at again and again by professionals that know why they should not grade them. THEY ARE WORTH MORE UNGRADED!! These sellers can put "Almost Uncirculated" or "Really Beauty LOOKS Gem Uncirculated" and get top dollar for them because normal collectors can never judge a note by a scan!!!! I fell for it one more time. A buyer that is usually good I have bought graded notes from but mainly auctions ungraded notes. Who drives the prices up, well I have a theory on that as well. So the note looks great on scans. I think if I grade it, it will be at least worth another $1000. The seller said the Fr-282 was "Near Uncirculated" Knowing myself that I am a sucker, I was hoping for a 45 EPQ. How about 35 NET! "Repaired" So the sellers know these notes are going to be NET so they put "NEAR UNCIRCULATED" or "GEM LIKE UNCIRCULATED" knowing the sucker won't get it graded. I get them graded and virtually every note I paid over $750 for ungraded came back NET. Only 2 ever came back not net and the best was described as "SUPERB GEM UNCIRCULATED" that came back AU55.

 

PLEASE, quit bidding and buying ungraded notes that are rare and/or expensive. They have been very well looked over and you are being bid up to where you will never get your money back. I promise, I will never purchase an ungraded note again. The buyers I refer to are very well established "honest" sellers that make a fortune off losers like me. I'll be happy to post the pictures when I receive the note if you ask me to.

 

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Decided to reply after reading a lot of your journals, very informative. Thanks for sharing your knowledge.

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