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 Replies: 31 / Views: 4,639 |
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Pillar of the Community
United States
742 Posts |
Heritage shows two sales in the last three years for 02 Plain Backs in about this same condition at $89.00 and $115.00.
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Valued Member
United States
486 Posts |
Well,
I checked out the site, it's unbelievable how things are being bid up on items like this. The note has pin holes, it's cut tight at the top, just about no margin to speak of, for me it does not have any eye appeal at all, way to many wrinkles, folds, and dirty. And someone bid it up to $ 653.00, that's way to high for a note like that.
I'm sure most any dealer would be happy to sell you a note like that at about half of what that one is bid up to.
I cant believe that the bidders on it are currency collectors, if they are they better buy a few books on currency and study, study, study them.
Bill Collector
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Pillar of the Community
United States
2295 Posts |
It is a bidding war and some people just get carried away. Sometimes it is harder to walk way and stop bidding no matter what the price is, for some people.
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Valued Member
 United States
122 Posts |
I'm just very happy that I have found coin community family. with my new found hobby and exploring auction sites, I have learned early of what not to do.
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Valued Member
United States
122 Posts |
oops ! Hit the submit button by accident. I also want to say thank you all for your great input. I also love reading other topics on this site. I know I will be posting soon enough.
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New Member
12 Posts |
Yes, the note is highly overpriced.... I agree with everything Bill has said.... 64 known notes is a whole lot as far as Nationals go...... To answer your question Bill, the dollar figure of those notes redeemed by the Treasury is known, as is the dollar figure and denomination of each note printed, so what is left after redemption is outstanding..... The vast majority of that which is outstanding is lost forever, but the existence of those that are still available to collectors are compiled by series and serial number into both personal and commercial censuses, (by folks who do a pretty good job of seeing that such data are kept surprisingly current).
To solidify your own point though, there is a finite number of notes floating around out there, but only a divine source would know that number, so the prominent census caretakers can only relay which particular notes have been confirmed as actually existing.... some of the rarer banks have few to no known survivors, and the odds are that their note populations will remain unchanged, while an increase in note population is to be logically predicted for the larger big city banks.
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Valued Member
United States
486 Posts |
Hi Lambda,
I understand about how the Treasury knows how many notes were printed, and if they know how many were turned in or redeemed they would know how many were still out in the wild, but of course that dose not mean that they are available to collectors, they may have been lost years ago because of many different reasons, flood, fire, etc. etc., but your saying:
"the existence of those that are still available to collectors are compiled by series and serial number into both personal and commercial censuses, ( by folks who do a pretty good job of seeing that such data are kept surprisingly current )"
So what your saying is that there are census caretakers out there that can relay which particular notes have been confirmed as actually existing. That sounds like a mountain of work even for a large team of workers. I've never heard of anyone taking on such a big job as that.
Can you let us know how collectors can contact those guys, and receive the info they have on the serial numbers they have recorded. I myself have hundreds of different US notes that I'm sure have never been counted in any census, I would be more than willing to share the serial numbers and even photos of the notes in my collection with those census takers, if for no other reason than to help with the knowledge of how many notes may still be out in the wild.
Thanks in advance for any info you can give in contacting those census caretakers.
Bill Collector
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New Member
12 Posts |
I don't mind at all Bill, right off the top of my head..... google up "Track and Price", "Don Kelly", or "Gengerke Census".... There are others who specialize in specific areas of note types, but those folks would be more difficult to track down.
Edited to add: I forgot to mention that the vast majority of the census data relates mainly to large size notes, Nationals, and a few of the more notable small size..... so you probably will not find much data for the green seal notes in any of their books, cds or downloads, like you said, the job would be monumental....(crazy anyway).
Edited by Lambda
04/06/2012 8:17 pm
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Valued Member
United States
486 Posts |
Hi Lambda,
Thanks for the links to the "commercial" Census businesses, they are very interesting sites.
I guess I would be more interested in the "personal" census takers that you mentioned more so than the guys that do it as a business.
I thought that it may be a club that one could join and share serial number info with other members etc., for the love of currency collecting more so than profit. Is there a way to contact those personal census taker guys that keep records on serial numbers, maybe a web site ?
Bill C.
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New Member
12 Posts |
I'm sorry Bill..... Don Kelly (Nationals), Martin Gengerke (large size notes), & Sandy Bashover (Everything) are the census kings, and they all do it as at least a small part of their livelihood/hobby as far as I know.... I do not know anyone who does this sort of thing for nothing, as probably more than 90% of any census data known is derived from the work of one or more of these guys..... I try to keep up with certain note types (Arkansas and Ohio nationals) censuses (as I am sure that other folks do as well), but I do this mainly to unwind or kill time, so I consider myself to be one of the personal types as I have no interest in trying to cash in on what little I really do know.... If you want info on series 1862 notes (for instance), then Doug Murray is your guy, and as far as I know, there are no commercial applications with his research either..... If you want info on Black Eagles, then I know the guy to talk to..... The data available relies on who you contact depending on which types of notes you are interested in..... As far as websites sharing free census information, I am not aware of any.
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Valued Member
United States
486 Posts |
Thanks,
I just thought that maybe there was a club or a bunch of guys that were doing something like that. It would be like collectors helping other collectors.
I know in two other collecting fields it was done like that and I was part of it, thought maybe it was the same with currency collecting and I just never heard about it.
Thanks for sharing what you did.
Regards
Bill C.
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Pillar of the Community
United States
2295 Posts |
Very interesting info on the census info. Hopefully they'll create a nice web site for that info. I'd hate to see that info lost some day.
I wonder why Lambda's account is locked? He has a lot of info and I hope to learn more from him.
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Valued Member
United States
486 Posts |
wquinn,
I don't think it will be lost any day soon. The way I understand it you can "buy" the info, just dig deep into your pocket for the $$$.
We have and are still doing things like that in five other collecting groups that I help with, the only difference is that the members that contribute to the Census Reports have free access the Reports. After all they helped build the Census and without there help there may not be a Census.
The nice thing about it is that just about all the members contribute.
It's all about Collectors helping other Collectors because they enjoy collecting the same things, and they freely share the info on what they collect.
I also understand the commercial business end of it and I can see why they are charging for the Info, it's a mountain of work, and so far I guess the collectors haven't done it on their own or as a group, so some thought there may be some money to be made with this, and their right.
Like I said in a past post, I have hundreds of Large and Small US Banknotes that I could / would share serial number and other Info with other collectors, but not if I have to buy back the same Info I send in.
Bill C.
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Valued Member
United States
198 Posts |
That person could be bidding just to run up the price. This happens on ebay and other auction sites and is considared as illegal. The seller will contact one or two friends and they will out bid all ohers and if they win the bid, they do not pay and the seller will keep the note. |
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Valued Member
United States
486 Posts |
That's a good reason to know what your bidding on and only bid what you you are willing to pay for it.
Bill Collector
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Replies: 31 / Views: 4,639 |
First Page
Posted 04/04/2012 10:29 am
