| Author |
 Replies: 5,681 / Views: 526,226 |
|
|
|
Pillar of the Community
United States
2854 Posts |
Quote:
You mean other than being quite unusual? Anyway, great note! Kelly only shows two Red Seal $5s on the CD, both with different S/Ns than this. This is the only bank charter that doesn't have word "National" in its title. |
|
Pillar of the Community
United States
1285 Posts |
Coinfrog, from the auction listing:
" Ch AU; A scarce district. This note is fresh and attractive with a corner tip bend or two "
|
|
Bedrock of the Community
United States
94367 Posts |
Wheat - Well shut my cash register drawer!
|
|
Bedrock of the Community
United States
94367 Posts |
Just to dispel any notion that I only buy CGA notes!  Picked this up last weekend - great note, with clear paper wave visible through the holder. Mid-range printing of 542,000. Getting closer to finishing the set (except for the Dallas gulper at the end).  Edited by Coinfrog
05/13/2017 5:21 pm
|
|
Bedrock of the Community
United States
94367 Posts |
Nice pick-up!  |
|
Bedrock of the Community
 United States
12887 Posts |
wheat and frog - nice pickups!
|
|
Bedrock of the Community
United States
94367 Posts |
Thanks, I have a real weakness for fifties and hundreds. In regard to the 1928 Cleveland $100 above, I did a bit of crude math using the Comptroller of the Currency's annual report for 1928 and a modern population density map to see how this printing of 542,000 might have been apportioned. I assumed that the Cleveland Fed supplied the same geographic area then as now (just an assumption), which includes all of Ohio plus eastern Michigan, western Pennsylvania, eastern Kentucky and western West Virginia. I "guesstimated" from this detailed report that there were probably no fewer than 1,500 banks of all kinds extant in the Cleveland district at the time (commercial banks, savings and private banks, and loan and trust companies - the Fed's 3 basic bank categories). Doing the math, the "typical" bank received around 360 $100 FRN bills for the entire year, or just one per day. Doesn't sound like much compared to today, especially when banks were redeeming large size notes for the first time and the economy was booming. You may suggest that the small $100 Gold Certificates were being introduced at the same time, true, but that does not distort the numbers in a meaningful way. Assuming proportionate distribution, each "typical" bank would have less than 2 $100 notes on average for each day. And finally, for comparison, the Cleveland district issued 166,000 $500 notes the same year, or 30% of the $100 notes it issued, which seems somehow disproportionately high, especially since redemptions of large notes could not have been that great. All of this, of course, is just silly conjecture and scribbling for the fun of it. Edited by Coinfrog
05/19/2017 6:11 pm
|
|
Valued Member
United States
129 Posts |
Sharing my newest SC, I love it!   |
|
Bedrock of the Community
United States
12887 Posts |
Horseblanket!
@Coinfrog - I can't imagine there were many people carrying around $100 notes in the 20's and 30's unless your surname was something like "Carnegie" or "Rockerfeller". Is it possible $100s were used more for inter-bank business than for day-to-day commerce like the other higher denominations were?
|
|
Bedrock of the Community
United States
94367 Posts |
Idacostya - Very nice. Your first BE? CK - I don't know much about the subject of inter-bank transactions in the '20s, but a $100 note sounds pretty small for that kind of thing. I do know that $100 would buy about $1,000 worth of merchandise at today's prices, which is not all that much when you consider that there were no credit cards back then for big-ticket items and the fact that people like Al Capone probably didn't take checks. Then as now, high-denomination notes were the grease of the underground economy. All in, the country was booming, FRBNs were yet to arrive, large notes were being redeemed for the first time. I was surprised at the low print runs for the C-notes and so began my Swiss-cheese analysis. Thanks for your reply - I doubt Dave Bowers will call. Edited by Coinfrog
05/20/2017 6:33 pm
|
|
Pillar of the Community
United States
2854 Posts |
A fairly tough note here. This one came all the way from Michigan.  |
|
Valued Member
United States
129 Posts |
Quote:
Idacostya - Very nice. Your first BE? Yes it is, also my first large size note. |
|
Bedrock of the Community
United States
94367 Posts |
It was my first large note as well, many years ago. Next to the Bison, my favorite design. I still buy them regularly.
Edited by Coinfrog
05/21/2017 5:14 pm
|
|
Bedrock of the Community
United States
94367 Posts |
Wheat - Whoa! I see only two others on the Kelly CD, this being a new S/N. Tell us about it!
|
|
Pillar of the Community
United States
4637 Posts |
I agree Mr.Frog, Wheats Charter #6778 are few are far between. A small-size $20 in PMG 63 (no EPQ) sold back in 2012 for a little over $1,400.
|
| |
Replies: 5,681 / Views: 526,226 |
First Page
Previous Page
Posted 05/12/2017 9:16 pm
