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$1 Note Collection Advice

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Bedrock of the Community
United States
11951 Posts
 Posted 03/01/2015  12:04 pm  Show Profile   Bookmark this reply Add GR58 to your friends list
Current notes are Federal Reserve Notes ( FRN)

Notes are made at two facilities, BEP in Wash. DC
and the Fort Worth facility (FW). The print all the notes
Fir the 12 Federal Reserve banks.

The location of, and the design of the seal is different on each
denomination.

Using the one dollar note as a example. The black seal on the left side of the note will have a letter. (A through L) There will also be a set numbers,
1 through 12, in four location on the front of the note. The letter and number will
always be the same for each Federal Reserve bank.

They will be
Boston A/1
New York B/2

All the way up to L/12 for San Fransico

And yes some collectors collect 12 notes for each series to have
one from each Federal Reserve bank.

Edit - I am not sure every series/year has a note for each FRN.
The 1963B Barr note comes to mind.
Edited by GR58
03/01/2015 12:14 pm
Pillar of the Community
United States
5854 Posts
 Posted 03/01/2015  1:21 pm  Show Profile   Bookmark this reply Add D0ubl3Eagle to your friends list

Quote:
I assume by "challenging" for the large size you mean $$$$? Or are examples just really difficult to find?

You could easily add a 1923 silver certificate and probably a 1917 legal tender. They are common and affordable though the legal tender will cost a little more. F/VF examples can be had for under $100 each. Other large size notes that you can consider that may fit your budget are 1918 federal reserve bank note, 1923 legal tender, and 1899 silver certificate. Most of the other notes other than the ones are going to cost much more unless you sacrifice condition. Hope this helps.
Bedrock of the Community
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United States
12866 Posts
 Posted 03/02/2015  4:03 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list
Thanks for all the suggestions and information, everyone. As I start to put my set together I'll post pics.
Bedrock of the Community
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United States
12866 Posts
 Posted 03/04/2015  03:34 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list
I've started to do a little research on the cost of putting together a small $1 note album. I've found I can spend several hundred dollars on some of the older notes.... of course, that's if I pay what the ebay sellers are asking, and generally those are graded. Looking at "sold" auctions things are generally less except for the "buy it now" lots.

Based on the gorgeous albums I've seen I want to start at XF or AU and go straight to CU where possible - but could certainly be deterred based on advice.

I've decided to start with the 1935A issues, so, what's reasonable to spend on a decent AU 1935A Brown, or a 1935A Yellow? I see prices (and conditions) all over the board but $100 seems about where the market is for a graded AU of either. I don't even need/want graded but I don't know enough at this time to know what to look for in the way of currency for doctoring. Should I look elsewhere besides ebay? Should I start with lower quality requirements?

I know only I can make my buying decisions. All advice is appreciated.
Bedrock of the Community
United States
11951 Posts
 Posted 03/04/2015  07:55 am  Show Profile   Bookmark this reply Add GR58 to your friends list
I like to check CDN Greensheet to get a start point
on what I would like to pay for a note.

I don't think I am going to any coin shops today, so I can't check the Greensheet prices today.

From what I remember AU/CU 1928, 1928A and 1928B SC notes
trade in the $100 range. I think in XF they drop down a good amount.

1928C, 1928D and 1928E SC, would be very expensive in upper
grades.

The 1928 USN in AU/CU can be $400/$500. My USN (red seal) is maybe VG/Fine I think I paid around $75. If a nice XF
comes along at my LCS ... I might pick it up.

Hawaii and North Africa $1.00 notes are available in all grades. Take your time, I think you can find one you like.

Not sure what your plan is, for a set of notes. Do a lot of looking. There is a good reference book for small size notes.
$1-Note-Collection-Advice

You might like using a book like this to help plan what
notes to put into your set.
Bedrock of the Community
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United States
12866 Posts
 Posted 03/04/2015  12:23 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list
Thanks, GR58. Will look into that book.

I'm (loosely) keeping track of ebay sales so hopefully I can get a good idea of the market on these guys before pulling the trigger.
Bedrock of the Community
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United States
12866 Posts
 Posted 03/27/2015  02:43 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list
Is $110 a good deal for a CU 1935A Hawaii note?
Pillar of the Community
Germany
645 Posts
 Posted 03/27/2015  08:05 am  Show Profile   Bookmark this reply Add hajduk to your friends list
I Think $110 is a good price for a $1 CU HAWAII bill.
Bedrock of the Community
United States
11951 Posts
 Posted 03/27/2015  2:24 pm  Show Profile   Bookmark this reply Add GR58 to your friends list
I try to use CDN green sheet as a start point
1935 Hawaii CU 60 bid $95 ask $105.

These are dealer to dealer prices. Most cases a dealer will sell
to the public a percentage over CDN.

So $110 is right there at a fair price.

Also ... Good to know a dealer might pay $60 to $70 for the note.
If your in a position to make a offer, $90 to $95 would be a good start
Bedrock of the Community
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12866 Posts
 Posted 03/27/2015  4:12 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list
Thanks guys. This looks like a pretty decent note. I was debating whether or not to dive right in to CU/AU notes or go for lesser-grade cheaper ones to start off with, but I have the feeling that eventually I'll upgrade anyway, so why not spend the money now?

And... I have to get over the mental hurdle of paying over $100 for $1.
Bedrock of the Community
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United States
12866 Posts
 Posted 04/04/2015  11:54 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list
Ok, I have my fist HAWAII note in hand. Overall I'm pretty pleased.

There was one condition issue that wasn't obvious from the seller's photos (but seller *DID* mention in the listing) and that is it's rippled somewhat. Seller's description was "natural paper waves".

Below are the photos I took tonight (close-up, with flash). You can make out the rippling a bit:
$1-Note-Collection-Advice
$1-Note-Collection-Advice

Compare to seller's photos:
$1-Note-Collection-Advice

So was $110 (including shipping) a good deal on this?
Pillar of the Community
United States
5866 Posts
 Posted 04/05/2015  06:34 am  Show Profile   Bookmark this reply Add barryg to your friends list
For the sake of comparison, here is what I have put together for $1 notes:

$1 Note Collection

My original goal was to collect all major varieties from 1900-2000, but I did eventually add a few earlier examples along the way. I believe now have achieved my original goal with regard to major varieties, although there are plenty of minor variations I could add if I so chose.
Bedrock of the Community
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United States
12866 Posts
 Posted 04/06/2015  12:14 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list
Awesome site, barryg. Thank you for the inspiration and info.
Bedrock of the Community
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United States
12866 Posts
 Posted 05/10/2015  02:40 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list
Ok, I'm beginning to realize that this $1 small note set is going to be an obsession for a while I have started to put together a checklist and it's wonderfully huge. ~60 distinct notes from 1928-present. Being the moron I am, I will have to include a star note for each as well, doubling the challenge.

Fortunately most of the FRNs are easy and inexpensive in CU. The silver certs are going to be a bit of a challenge and the USN is going to require some conniving!

This is a FUN set to research and put together, ladies and gentlemen. I highly recommend it... learn a lot, spend a little.

Bedrock of the Community
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United States
12866 Posts
 Posted 05/16/2015  03:45 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list
I have some $1 notes in transit... pictures forthcoming when they arrive...it will be time to give GR58 a run for his money at some point (yeah right - a guy can dream...)

I've also decided to concurrently work on a small $2 USN/FRN collection, since most of those guys are relatively cheap in CU and the list is relatively short compared to the $1 checklist.

If you can't tell, I'm really having a good time with this. I think my next step is to grab another 7001 and some more 3-pocket pages. Also some more currency holders to hold the AU/CU bills that don't make it into the folder or are cycled out.

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