Expert Opinion Needed - Australian 19th Century Proof & Specimen Notes.

To participate in the forum you must log in or register.

Author	Replies: 7 / Views: 1,946
CoinOS Valued Member 269 Posts	Posted 03/15/2018 06:17 am This is a lot of interesting banknotes (pvt) going under the hammer in London in 2 days. [London Coins Ltd.] Bidding opens at 4000 GBP (Aud 7100 / usd 5600) They are not especially cheap but have caught my eye. Would someone with a clue about old Australian notes please give me a no or nod as to if they think these 57 notes are a decent long term investment? Ballpark guess is enough.. I have no desire to sell them, if I buy them they will be bequeathed. Here's the Auctioneer's website description: Australia PROOF & SPECIMEN notes (57), all different and from the 1800's, various offices of issue from various banks: English, Scottish & Australian Chartered Bank, Royal Bank of Queensland Limited, The Union Bank, Bank of Australasia, Australian Joint Stock Bank, Commercial Bank of Tasmania Limited, The Bank of North Queensland Limited, National Bank of Australasia, Queensland National Bank Limited, Queensland Government, in 1 Pound, 5 Pounds, 10 Pounds, 20 Pounds, 50 Pounds & 100 Pounds denominations, most with cut bottom margin and mounting marks on reverse, in leuchtturm lighthouse album and slipcase.. I can't be bothered looking every note up - if it's a likely a good buy, I'll put a bid on it. If any knowledgeable note collector could put a word here - much obliged. Report this Post to the Staff

Mr T Pillar of the Community Australia 2180 Posts	Posted 03/15/2018 07:05 am As a long-term investment I'm not sure - I get the impression this sort of market has its ups and downs, and pre-Federation notes probably have more limited appeal. That said, I would have thought selling them individually in Australia would be more profitable then selling them as a lot overseas. Report this Post to the Staff
paxbrit Pillar of the Community United States 992 Posts	Posted 03/15/2018 11:25 am Your plan to bequeath any purchases for decades of appreciation is a lot better than expecting appreciation over a short term, like 5 or 10 years. Valuable collections are built by knowledgeable collectors spending significant sums on premium material over decades. Having said that, what you want to purchase, and nothing else, are complete, four-margined examples, clean, untoned paper, good eye appeal, and regardless of being a 'bargain' or not. I see 5 examples in the bottom rows of the first photo that I would spend money on. In the second photo, I'm not certain I would spend any money at all. Perhaps the 3 lower notes in the left-hand row, if they are complete. Even long-term appreciation requires a quality note that will be in demand by collectors, and this basic rule should be heeded. If you can get the entire lot for a decent price, immediately sell the dross and put away the good stuff. There is a reason why these notes are not being sold individually, you don't want to perpetuate that problem into the future. For 5,000 Pounds, minimum, I would seek out one or two outstanding examples of these notes elsewhere, and tuck them away, avoiding all the problem notes here. Edited by paxbrit 03/15/2018 11:27 am Report this Post to the Staff
CoinOS Valued Member 269 Posts	Posted 03/15/2018 1:20 pm Quote: I would have thought selling them individually in Australia would be more profitable then selling them as a lot overseas Quite possibly so. It's a pretty well known London based Auctioneer - maybe they cannot be bothered. Quote: If you can get the entire lot for a decent price, immediately sell the dross and put away the good stuff. There is a reason why these notes are not being sold individually, you don't want to perpetuate that problem into the future. That makes sense. I have no knowledge of these notes at all, and thought maybe I was seeing a bargain. The same auction house recently graded this coin (which I am actively buying at present) as gF, and that is a horrendous mistake in grading. While I know nothing of banknotes, I can grade Australian predecimal coins fairly accurately. My first thought was 'hold up.. do they know what they are doing?' - and they do - but they don't know Australian stuff as well as some. As for the bank notes, they are also doing a similar lot, but of New Zealand notes. I don't know if I want to spend three hundred hours sitting in front of the screen learning about them and deciding what's what. That lot will cost several thousand dollars which might be more fun spent on something else. If there are a few treasures among these notes - I have no idea which ones. With less than 36 hours left, time is short. If someone here who really knows their stuff said 'that's a no brainer - grab it' - I would/will put down 8-12 thousand dollars but with those notes I'm in unfamiliar waters. The fact that they undervalued a well known florin by over 50% made me stop and look at their Australian stuff closely. Maybe it'd be safer to invest in premium examples of Commonwealth treasury banknotes, which always seem to get action at auction. Cheers Report this Post to the Staff
serenitystan Valued Member Australia 145 Posts	Posted 03/15/2018 9:33 pm Hi mate, I' keep it simple.. Mounting marks and cut Margins!!! ITS RUBBISH... Report this Post to the Staff
paxbrit Pillar of the Community United States 992 Posts	Posted 03/20/2018 9:34 pm I think you're entirely correct about the Australian coin grade, seeing as how that's in your area of expertise. The notes, however, are something you should steer away from. If you want to spend some good money on classic notes to tuck away, visit your area dealers and inquire as to their stock. You can learn something by doing so, whereas here, you'll just learn an expensive lesson in how not to invest in banknotes. Report this Post to the Staff
CoinOS Valued Member 269 Posts	Posted 03/21/2018 01:52 am Quote: how not to invest in banknotes They went for 7,500 pounds, which is mucho dinero, over 10,000 US dollars. I never placed a bid. Someone liked 'em .. Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21788 Posts	Posted 03/21/2018 02:41 am I agree with Mr T. Perhaps those to whom you wish to bequeath them to, may do that if their interest in them, is less than the O.P's Have a telephone chat with Noble Numismatics or Downies to confirm. Edited by sel_69l 03/21/2018 07:24 am Report this Post to the Staff
	Replies: 7 / Views: 1,946

To participate in the forum you must log in or register.

All Forums Category: Australia, New Zealand, and South Pacific (Oceania) Coins and Currency Forums Forum: Coins, Bank Notes, and Paper Money: Australia, New Zealand, & South Pacific (Oceania)

The First Dollar, your premier source for bullion and rare coins. See our bullion list on the site and the coin inventory on ebay.

Silver Gold Bull US is the United States leading bullion dealer. We deliver gold coins, gold bars, silver coins, silver bars and precious metals to your door. Order today!

View Last 100 New Topics

View Last 100 Active Topics

Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us | Advertise Here | Privacy Policy / Terms of Use

Coin Community Forum

It took 0.32 seconds to rattle this change.