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How Many Of Your Have The 1000 Swiss Franc Note In Your Collection?

 
 
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New Member

Australia
32 Posts
 Posted 04/27/2016  03:33 am Show Profile   Bookmark this topic Add mulla to your friends list Get a Link to this Message
Hi All,

I'm a relatively amateur collector compared to many of you in the forum.

Was given a set of Swiss Franc notes (except the 1000 Franc) as a birthday present a while back. Contemplating on going to the bank and buying a 1000 Franc note to complete the set.

But given how expensive this note is going to cost, I'm not sure if I can justify it. Wondering how many people actually have this note in their collection?

Esentially any note over US$500 is considered very expensive to me :) I really have to think twice before getting it.

Thank you
Pillar of the Community
United States
992 Posts
 Posted 04/27/2016  10:05 am  Show Profile   Bookmark this reply Add paxbrit to your friends list Get a Link to this Reply
I think we are all amateur collectors, don't fret about status.

I do not have the 1,000 Franc note, but if I could walk into my local bank and purchase a genuine UNC example for face value, crisp, flat, no defects, I would jump at the chance. The few 1,000 denomination notes I do have, from stable western countries with strong currencies, have appreciated quite well, they were worth the money. If you can afford two of them, even better. But one for sure, do that now.
New Member
Australia
32 Posts
 Posted 04/28/2016  02:57 am  Show Profile   Bookmark this reply Add mulla to your friends list Get a Link to this Reply
Thank you Paxbrit for the comments.

The wealth of knowledge that some of the members here have on numismatics just amazes me at times :) Therefore I'm always going to be an amateur :)

So you are saying it may be a little difficult in getting a UNC note at a local bank due to the value of the note? I will definitely give it a shot, hopefully there'll be an UNC sample somewhere out there. I did have some luck at some of the bigger branches in getting UNC notes but understand 1,000 Franc may not be easy to come by.

Right now I think I can only afford 1, unless I go without food and electricity for the coming month :p

Thank you once again for sharing your experience.
Pillar of the Community
United States
992 Posts
 Posted 04/28/2016  10:50 am  Show Profile   Bookmark this reply Add paxbrit to your friends list Get a Link to this Reply
You're welcome. I know that every time I've stretched my hobby budget for a nice note, a few years down the road it becomes obvious I've made a good decision, from a 'profit' standpoint. The cheap notes will remain cheap, and scarcer notes will appreciate in value at a higher rate than the lesser stuff.

Large-denomination notes will go the way of the Dodo, in a few years, I believe.
Valued Member
Canada
303 Posts
 Posted 04/28/2016  8:02 pm  Show Profile   Bookmark this reply Add ShareBear to your friends list Get a Link to this Reply
If you could get a 1000 Swiss Franc in UNC and could afford it you should. The problem with Swiss Francs is that they become demonetized when newer series come out. Usually every 15-20 years. At that point your Swiss Francs are only a collectable item and cannot be exchanged.

Countries like the US and Canada have never demonetized their currency. So the banknote will always retain its face value.

The Canadian $1000 in UNC from 1988 is selling for $1500. If you factor in inflation it would be worth $1800.
Pillar of the Community
United States
992 Posts
 Posted 04/28/2016  8:10 pm  Show Profile   Bookmark this reply Add paxbrit to your friends list Get a Link to this Reply
1988 is about the time I bought both my CDN $1,000 bills, the 1954 and 1988 series, the exchange rate was about 70 cents to the US dollar, so I could stretch my money and get both of them. Well worth doing, looking at current values.

The 1,000 Kroner notes from Scandinavia are also worth a good look.

I'll check with my bank about getting a Swiss note next week. I don't think they can guarantee UNC condition, though, and maybe not even denomination, just a total amount in Francs.

New Member
Australia
32 Posts
 Posted 04/29/2016  04:38 am  Show Profile   Bookmark this reply Add mulla to your friends list Get a Link to this Reply
Thanks ShareBear and Paxbrit for your valuable experience.

ShareBear - My main collection is in Japanese notes and there are plenty in my collection that's demonetised and are only a collectable item so I'm not too worried about that. My only concern is that it's worth over AUD$1,300 for the 1,000 Franc and I don't really want it to all of a sudden be worthless due to inflation or as you mentioned demonetisation. Although, I'm not looking at profiting from my collection right now. Just a set of pretty "paper" to look at :p

When I get paid this month, you can be sure that I'm going to visit some of the biggest branches in town and try to source one in UNC condition. Hopefully, the teller doesn't think I'm a weirdo as usual :p

Pillar of the Community
United Kingdom
2414 Posts
 Posted 04/29/2016  07:12 am  Show Profile   Bookmark this reply Add DavidUK to your friends list Get a Link to this Reply
The bulk of my note collection is made up of many notes pulled from circulation... out of cash points and cashiers drawers. I have always tried to put away every British note with every new cashiers signature as they were released.

Sure I have bought notes too but looking back the best value has always been the notes that I got for face value. (Especially since the Bank of England will always change notes back at face value it is a no lose gamble, the same goes with the USA notes too I understand)

I have however collected series of notes from other countries which have not made money... in fact I think the full set of French banknotes that I collected in France in the 1990's is worth less than face value attractive though they are.

Your decision is a gamble, short term it will probably devalue (when demonetised) but it will always bother you to have it missing from the set. (I have a 500 Litas note missing from my Lithuanian set...exceedingly annoying) If you get the note long term one would presume it will eventually regain its value since many others would have not kept one due to its face value being so high... but that is not garunteed.

So my advice would be that if you can afford it, without it having any negative impact o your life then get one... but if the money would be better served in some other way (like an already rare note, a set of notes from elsewhere or something you cannot live without) then shrug your shoulders and think "I will pick one up cheaper when they demonetise..."
Pillar of the Community
Norway
1358 Posts
 Posted 05/04/2016  7:47 pm  Show Profile   Bookmark this reply Add UltraRant to your friends list Get a Link to this Reply
If you really want to gamble, then you wait until the bank note is demonetized and then buy it for less than face value. However... big fat chance that there won't be that many around, let alone in uncirculated conditions, due to their high face value. My experience is then that, generally, the biggest chance of a good find is closest to the source, so you better keep an eye on Swiss digital trading places.

It still looks like a lot of money for a tiny piece of paper though. Nicely decorated paper, but still. Oh well, just remember that probably a Rembrandt is probably still more expensive per square centimeter. ;)



Valued Member
Croatia (Locally: Hrvatska)
81 Posts
 Posted 05/09/2016  7:44 pm  Show Profile   Bookmark this reply Add filip to your friends list Get a Link to this Reply
These days is not a good moment for buying Swiss francs, because that currency is still on the high grade, and Australian dollars are on a pretty low, as far as I know.

Also, these days, or months, a new, ninth series is going to be issued (or already has been, in the last several days, I am not sure). A very cool series, with the all protection on this world :)
New Member
Australia
32 Posts
 Posted 05/09/2016  10:50 pm  Show Profile   Bookmark this reply Add mulla to your friends list Get a Link to this Reply
Thanks everyone for the continued comments and insights.

DavidUK - I'm not buying to profit in the short or even long term. It's probably something I would like to show and pass onto the next generation.

UltraRant - Interesting way to look at it $ per square cm

filip - Yes exchange rate is definitely not on my side. Thanks for the info, just googled the ninth series and doesn't look like it'll be fully released (entire series) until 2019.

Have yet to visit the bank to see if they actually have some. Might do that tomorrow since I have some business to sort out in town.
Valued Member
United States
299 Posts
 Posted 12/05/2018  11:57 pm  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply

Quote:
You haven't said what series banknotes are in your collection. I must presume the current series (8th series).


The 5th series notes issued in 1956 were recalled on 1 May 1980 and are valueless as currency since 1 May 2000.



The 6th series 1000CHF notes issued on 4 April 1978 were recalled on 1 May 2000 and are scheduled to become valueless on 1 May 2020. There is a draft bill proposing to shorten this time limit. Be aware of that this bill could become valueless on fairly short notice. The 6th series is the last to preserve the 500CHF denomination.


The 7th was a reserve series in case of massive counterfeiting, and it was never issued. No image

The 8th and present day series 1000CHF notes was issued on 1 April 1998 and will be recalled probably 1 April 2019. It remains unknown if the government will preserve the 20 year grace period before the note becomes valueless.


Probably the 9th series 1000 CHF note will be issued on 1 April 2019, and it is expected to be an absolute beauty based on the design of the smaller denomination notes. The 10, 20, 50, and 200 Franc notes have already been introduced, and they have extensive security features. There are no portraits, just a hand based motif.

I think there is an inherent risk in acquiring any series other than the 5th (valueless) or the 9th (betting on future exchange rate of Swiss franc).


9th series 200 franc note just issued on 22 August 2018, the 1000fr will feature shaking hands, but image is not currently available.



Quote:

Old Series |Introduction |Date recalled |Valueless since
1st |1907 |July 1925 |1 July 1945
2nd |1911 |October 1958 |1 October 1978
3rd |1918 |July 1925 |1 July 1945
4th |1938 |Reserve series for war, never issued

Edited by PacoMartin
12/06/2018 06:10 am
Valued Member
United States
299 Posts
 Posted 12/06/2018  05:22 am  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply
The posted rate of 1 CHF = 0.787 is for large scale transactions.

The website www.leftovercurrency.com will exchange current 8th or 9th series Swiss banknotes at rate
1 CHF = 0.703
That is 89.4% of face value. But that makes sense as they are offering a convenient way to exchange notes, and are entitled to make a profit

The withdrawn banknotes (6th series) are being exchanged for
1 CHF = 0.52375
That is 66.6% of face value because these notes must be exchanged at the central bank before the year 2020 at face value minus fees. Presumably the website will pay less and less as the date 1 May 2020 approaches.

But the same website is offering a flat rate for demonetized 5th series banknotes at
1 CHF = 0.04816
That is still 6% of face value So that must mean they believe they can resell them as collectibles at several times that rate.

So if you are shopping for a demonetized 1000CHF banknote, even if it is valueless as money, don't expect it to be super cheap as a collectible.

=================================

I don't have a hard number for the peak of the 5th series of 1000CHF banknotes, but the total value of all banknotes at the end of 1977 was 18.590 billion CHF. So we can guess that there was about 9 million 1000CHF banknotes in circulation (~50% of the total circulation).

The 6th series of 1000CHF banknotes never got higher than 16 million notes in circulation. The 8th series of 1000CHF never broke 50 million notes in circulation. Personally, in this post Bitcoin world, I think the 9th series 1000CHF banknote circulation will reach somewhere into the hundreds of millions and become a major source of revenue for the Swiss government.

=====================
Looking at the reason old notes should be demonetized can be addressed by example

In the USA 3,943,708 $500 banknotes and 2,675,016 $1000 banknotes were produced before WWII. The central bank cannot account for about 284,000 of the $500 notes and 165,000 of the $1000 banknotes. The presumption is they are being kept or bought and sold as collectibles. The collectible value is supported by the fact that they are always worth at least face value and can be turned in to any commercial bank and deposited.

When the notes in Switzerland become valueless, the central bank donates an equivalent amount to the Swiss Fund for Aid in Cases of Uninsurable Damage by Natural Forces.All 100 million francs of 500fr notes will be declared valueless in the year 2020, so that fund will get at least that much .

Another argument for making old banknotes invalid is that they could be more easily counterfeited.




Edited by PacoMartin
12/06/2018 07:13 am
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