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 Replies: 17 / Views: 2,736 |
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Pillar of the Community
United States
1005 Posts |
Could be used as wall decoration in a saloon
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Pillar of the Community
United States
1285 Posts |
Maybe to remind folks: NO SMOKING around the paper money collection. Or maybe: Don't play with matches.  |
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Bedrock of the Community
United States
94367 Posts |
 Good point! |
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Pillar of the Community
United States
4637 Posts |
Was the seller out of Paradise California ?
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Pillar of the Community
United States
1375 Posts |
Well, the BEP redeems mutilated currency at face value and my understanding is that banks will redeem damaged currency at face value as well (haven't done either personally). It looks to me like most of what is in the photo would qualify as damaged vs mutilated, but in either case it's still redeemable. It's a bit hard to tell for sure from the photo, but it looks to me like there's more than $66 face value (not counting what may be a CSA note or the fractional note) of damaged currency here. If someone bought it with the intent of redeeming it, then I think they'll make a small profit. Wouldn't be worth the effort to me, but it might be to the buyer  Edited by BadDog
11/21/2018 2:11 pm
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Pillar of the Community
Canada
999 Posts |
I count about $66 in face value. I have heard that it can take a couple of years for the BEP to exchange damaged currency due to the backlog. Not worth it in my opinion.
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Pillar of the Community
 United States
5029 Posts |
Well if the buyer is happy I suppose that is all that matters. I would not give the lot a second look though.
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Moderator
United States
189767 Posts |
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Pillar of the Community
United States
1375 Posts |
Quote:
Well if the buyer is happy I suppose that is all that matters. I would not give the lot a second look though. There were 7 bidders on this though AND it was sniped at the end, so someone saw value here  |
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Pillar of the Community
United States
3402 Posts |
There is a fractional and large size...maybe stars...you take a chance and hope.
KK
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Pillar of the Community
United States
2850 Posts |
I would have bought this. There's a $5 1890 or 1891 treasury note hiding in there. Those are worth AT LEAST $100 in rough condition. There's also a decent national and a Martha in there. Just becauae it's rough doesn't mean it's worthless. And you'd have to be crazy to redeem those notes, regardless of condition.
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Pillar of the Community
United States
742 Posts |
Assuming they do not have to reconstruct notes, it takes 2-3 months to get reimbursed from the BEP for mutilated money. At least that was the case two years ago when I turned in charred remains.
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Pillar of the Community
United States
3843 Posts |
I tend to agree with Wheatback. Some of the rarer notes command decent money even in tatters to a collector that wants an example.
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Valued Member
United States
54 Posts |
There is at least 75-76 dollars in face there. As others have said there are some decent large notes that would still command a legitimate premium over face like the 1890 $5. Worth the 66$ for sure.
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Pillar of the Community
United States
772 Posts |
It looks like a few of the bills have the same burn pattern like they were stacked on each other at the time. Maybe a house fire killed a collection? Whatever it is, it is a sad site.  |
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Posted 11/21/2018 11:11 am
