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Have Some Old Banknotes - Help Appreciated

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New Member

Canada
6 Posts
 Posted 02/15/2015  10:26 am Show Profile   Bookmark this topic Add estateman to your friends list Get a Link to this Message Number of Subscribers
I am assisting with an estate and have many coins and several albums of banknotes. The ones I need help with, at the moment, are the following Proof & Specimen notes in a CCC sealed sleeve:

a. 1896 Face Proof - $5 - Ontario Bank
b. 1896 Back Proof - $5 - Ontario Bank
c. 1897 Face Proof - $20 - Dominion Bank
d. 1897 Back Proof - $20 - Dominion Bank
e. 1888 Face Proof - $10 - Dominion Bank
f. 1888 Back Proof - $10 - Dominion Bank
g. 1899 Face Proof - $50 - Merchant Bank of Halifax
h. 1899 Face Proof - $50 - Merchant Bank of Halifax
I. 1901 Face Proof - $50 - Dominion Bank
j. 1901 Back Proof - $50 - Dominion Bank
k. 1905 Face Proof - $5 - Dominion Bank
l. 1905 Back Proof - $5 - Dominion Bank
l. 1922 La Banque National - $100,$50,$20,$10,$5 all specimen "60".

any assistance on scarcity/valuation is greatly appreciated.

Have-Some-Old-Banknotes---Help-Appreciated

Have-Some-Old-Banknotes---Help-Appreciated

Have-Some-Old-Banknotes---Help-Appreciated
Edited by estateman
02/15/2015 11:27 am
Valued Member
Canada
497 Posts
 Posted 02/15/2015  11:10 am  Show Profile   Bookmark this reply Add west- canuk to your friends list Get a Link to this Reply
because of the scarcity of these proofs you might also try Canadian Paper Money

http://www.cdnpapermoney.com/forum/...19694ff5bc8&
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Pacificoin's Avatar
Canada
5403 Posts
 Posted 02/15/2015  11:53 am  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Based on current market, these might do very nicely in an upcoming auction. Contact two or three different firms for assistance ie Canadian auctions specializing in rare bank notes. You can also do some research in to past sales results, on line. Nice stuff and good luck with these beauties.
New Member
Canada
6 Posts
 Posted 02/15/2015  12:18 pm  Show Profile   Bookmark this reply Add estateman to your friends list Get a Link to this Reply
Thanks for the helpful comments. Is this company "CCC" a reputable grading company?
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Alexer's Avatar
Canada
2632 Posts
 Posted 02/15/2015  12:48 pm  Show Profile   Bookmark this reply Add Alexer to your friends list Get a Link to this Reply
Welcome to CCF
Nice notes, there are a couple of bank note experts around here somewhere..
Auction sounds like a good idea.
Check this link too, you can sell directly to them if you want. http://canadacurrency.com/
New Member
Canada
6 Posts
 Posted 02/15/2015  1:47 pm  Show Profile   Bookmark this reply Add estateman to your friends list Get a Link to this Reply
A few more..these are circulated Independent Bank Notes. Should we ebay these?


Have-Some-Old-Banknotes---Help-Appreciated

Have-Some-Old-Banknotes---Help-Appreciated

Have-Some-Old-Banknotes---Help-Appreciated
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Osiris's Avatar
Canada
118 Posts
 Posted 02/15/2015  7:29 pm  Show Profile   Bookmark this reply Add Osiris to your friends list Get a Link to this Reply
Before hitting ebay, I would take what you have to a reputable dealer. See what they would charge for an appraisal. If you are in a large enough city to have several dealers, then I would ask three for the cost of an appraisal, and listen to what they have to say as well. Knowledge is power. Also, see if there is anything NOT in a CCC jacket that is worth getting graded and placed in one - credibility helps price.
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47P7's Avatar
Canada
1505 Posts
 Posted 02/15/2015  7:40 pm  Show Profile   Bookmark this reply Add 47P7 to your friends list Get a Link to this Reply
Osiris,
I am not aware of any reputable dealers that give a written impartial appraisal.
IF you are, I sure would like to know who they are.
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Osiris's Avatar
Canada
118 Posts
 Posted 02/15/2015  7:43 pm  Show Profile   Bookmark this reply Add Osiris to your friends list Get a Link to this Reply
I see that like me, you are in Vancouver.

I suggest you call:

J & M Coin & Jewellery Ltd.
Chantou International Coin and Stamp

In both cases ask to speak with Joe (different Joe's) - insist on it. Call ahead and make an appointment to make sure each is available. If they make you an offer on the spot, keep in mind it will be heavily discounted from retail value. My goal in speaking with them would be to arrange an appraisal, and/or possibly advice on what to do with them.

In my opinion, if you can sell them yourself one at a time it will yield the most for you - and it will take more than a bit of your time to do it properly. An auction house will take a larger cut than ebay, but will lend credibility to what you are selling, given I take it you have no ebay selling background in collectible bills. You may also want to contact cdncoin.com in metro Toronto, who just finished co-hosting the largest auction in Canadian history for coins and currency - something over $4 million.

You may want to open up your account to emails, as there are people on this site very knowledgeable in Cdn paper who could help. This will also get you a number of unsolicited messages from potential buyers, so if you want to avoid that just contact the dealers mentioned above.
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Osiris's Avatar
Canada
118 Posts
 Posted 02/15/2015  7:50 pm  Show Profile   Bookmark this reply Add Osiris to your friends list Get a Link to this Reply
47P7:

Fair enough on dealers, but what other option might there be? I'd rather speak with a dealer in a bricks and mortar store than someone who's anonymous off a web forum board - reputable though they may in fact be.

I think speaking with a couple of dealers can't hurt. Let's say you needed a number for insurance purposes (like an appraisal) - where would you turn if you're not in the game normally?

I've been through this with a couple of genres that are not my thing. It comes down to how much time do you want to invest to get up to speed. You may get less $ if you sell items yourself or even an auction house as you're shooting in the dark, and if you spend time to gain knowledge personally there's a cost to that as well. Just a judgment call I suppose.
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Pacificoin's Avatar
Canada
5403 Posts
 Posted 02/15/2015  8:19 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
@47P7 there are Many reputable dealers who will give an appraisal for a fee . It is a part of the business . There are many law firms, banks and clients with collections that seek a professional opinion as to valuation. Either to get an insurance appraisal or a valuation for disposing of the collection. So as to avoid a conflict a lot of firms , ours included will charge an appraisal fee and recuse themselves from purchasing the collection. The Vancouver area dealers mentioned are just two that would be able to help the OP. I am quite sure that your comment is unqualified as to its validity.
@ the original poster another dealer that should be able to help you in the Vancouver area is Jim Richardson, who has two locations, one at Metrotown and another in Richmond. Be prepared to pay an hour or two fee for an appraisal . Should cost you around $100 to $ 150 plus GST for their services
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Osiris's Avatar
Canada
118 Posts
 Posted 02/15/2015  10:14 pm  Show Profile   Bookmark this reply Add Osiris to your friends list Get a Link to this Reply
Pacificoin:

Good addition - I forgot about Jim.
New Member
Canada
6 Posts
 Posted 02/15/2015  10:43 pm  Show Profile   Bookmark this reply Add estateman to your friends list Get a Link to this Reply
Thanks for the handy advice. There are over 300 loose notes, but over half are $1 & $2.

Over 1200 coins also..ikes
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47P7's Avatar
Canada
1505 Posts
 Posted 02/15/2015  11:42 pm  Show Profile   Bookmark this reply Add 47P7 to your friends list Get a Link to this Reply
Totally respecting everyone's opinion or believes here.

However, who in their right mind would even, considering the annual fee for insurance, pay for an appraisal for insurance purposes.
next question and please note: I do not wish to get into a back and forth, well, buts, maybes, you are out to lunch etc, and: how dare you say! situation.
I am speaking out of personal experience and ask: which dealer can or would guarantee a certain price (appraisal) for a certain item and be unbiased? I mean totally unbiased! And not calling a "friend' and tell them to make an offer.(remember.. I experienced this personally in a scenario very close to the one on hand where I was asked what to do, where to go to find out)
it is easy to say: according to the latest and current catalogues, the present evaluation is..
IN MY OPINION ....xxxxx dollars.... and my fee is...

As I said: please, NO challenges, because I would have to possibly say a name... and will not.
But Pacific, next time we meet, you need to buy a lot of beer..(maybe our next auction in May)IPA, shipwreck, to make me say who. Or better, Glenn Morangie d'or scotch.
A written appraisal has to have a foundation and has to be based on facts, not just opinions.
If someone just wants opinions, well, pay 20 dollars for a opinion of a TPG grade and buy yourself the latest Charlton paper book.
It is right there. remember, there are NO professionals in the Numismatic business because there are NO regulations concerning Grades. There are only some persons with more experience than others.
Professionals do have a legal liability when paid for their work. If they are wrong, they can be sued.
Then it is up to an Insurance underwriter to accept or NOT, the credentials of someone's appraisal and to issue coverage.
OR to the owner of the item in question to accept what he paid for or not...
BTW, my personal issue mentioned above was solved very easy.
I told the owner what I would pay for these notes and gave her 5 names of dealers (BC, Alberta and Saskatchewan )where to send the list to and ask them if they were interested. (I made the list and took images of 21 french key notes). that was 5 weeks ago. Only one has replied so far with a request to see the notes.
Does that tell you something? The notes are now back in Alberta where she lives.
My advise was that the best bet to sell them is to a serious collector, negotiating Face to Face.
Edited by 47P7
02/15/2015 11:55 pm
Pillar of the Community
Canada
1984 Posts
 Posted 02/16/2015  12:01 am  Show Profile   Bookmark this reply Add Smallcentguy to your friends list Get a Link to this Reply
Estateman

If you are executor and are in a fiduciary position, it is not your job to spend hours on ebay or with dealers to get the top price for the coins. It is your job to get go trough a fair process to get a fair price for the coins. Executors or public trustees will often go to a reputable auctioneer to ensure that the coins are sold through a process that is fair and open. Then you are protected from any claim that you did not take reasonable steps to get fair value. I would suggest you go to one of the big coin auctioneers (Bell, Moore, TCNC, Hoare) and consign all the items. You will likely get the best price through this process and will ensure that the beneficiaries of the estate feel that a proper process has been followed.
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Alexer's Avatar
Canada
2632 Posts
 Posted 02/16/2015  12:16 am  Show Profile   Bookmark this reply Add Alexer to your friends list Get a Link to this Reply
What a display..
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