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 Replies: 12 / Views: 1,940 |
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Pillar of the Community
Canada
849 Posts |
Hey, Since its been kind of tough to find my remaining penny/50c rolls I decided to start collecting Bank notes. Started with just a few notes.... then bought a few more... then before I knew it I had over 30 active bids... all this in about 5 days lol. To start I'm just trying to collect a note for each date/signature combination (1954-Date) then maybe work on the older notes... and maybe prefix's/replacement after that... A few questions I do have: Any good grading explanations? I'm maybe looking for what is AU vs UNC (because currently just interested in UNC). For example what defects can a note have and still be considered UNC (pictures would be awesome). Is there a premium for Seq. bills? Also do you find if labeled UNC (on ebay) and they are in seq. that they are more likely to be UNC and not AU or worse? When purchasing do you go buy the Carlton value of the bill? or try and always get is 70-80% tread? or lower? Thanks for your time, --James |
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Pillar of the Community
Canada
4944 Posts |
Quote:
Any good grading explanations? I'm maybe looking for what is AU vs UNC (because currently just interested in UNC). For example what defects can a note have and still be considered UNC (pictures would be awesome).
BCS, which is the ideal TPG for Canadian banknote grading has a section on their website dedicated to grading, and what to look for in specific grades. http://www.banknotecertification.co...tandards.phpQuote:
Is there a premium for Seq. bills? Some say yes, some say no. It really depends on the notes, and the person who is buying them. Personally, I won't pay any premium for sequential notes. 1954 and newer series notes are quite common in sequence, and there are always long runs of them for sale. Quote:Also do you find if labeled UNC (on ebay) and they are in seq. that they are more likely to be UNC and not AU or worse? The grade of the notes would depend on the way they were stored. A couple of the notes could have been bent, or stained from where they have been stored. Quote:
When purchasing do you go buy the Carlton value of the bill? or try and always get is 70-80% tread? or lower? The paper money market is quite soft right now, and many common notes are selling at 40-50% of Charltons price. Rare items always tend to sell near book value. |
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Pillar of the Community
 Canada
849 Posts |
Thanks for your information :). ON your last point: Quote:
The paper money market is quite soft right now, and many common notes are selling at 40-50% of Charltons price. Rare items always tend to sell near book value. I'm not really seeing this for common low dom. notes (its more like 80%-100%) for the $1-$5 notes. You can do better getting some of the less common ones for much cheaper then listing price (special prefixs/signatures...at least on ebay). This could be because I'll looking into cheaper bills in the $1-$5 (which list for $3-$30) range in Charlton and might be different in the higher valued bills $10-$100 which list for much higher. |
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Pillar of the Community
Canada
849 Posts |
Also I have been specifically bidding on UNC labeled auctions with a return policy... If I bill I receive is not UNC I ask for a discount and so far it has been successful. Just advice for anyone else buying bills on ebay... Also look for people with 100% feedback and they are more willing to discount rather then get negative feedback. |
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Pillar of the Community
Canada
1192 Posts |
Quote:Also I have been specifically bidding on UNC labeled auctions with a return policy... If I bill I receive is not UNC I ask for a discount and so far it has been successful. Just advice for anyone else buying bills on ebay... Also look for people with 100% feedback and they are more willing to discount rather then get negative feedback. That is called feedback extortion. If I sold paper notes I'd find out your ebay username and block you! |
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Pillar of the Community
Canada
849 Posts |
How is that feedback extortion? The note was not as advertised and instead of shipping for a refund I offer the seller an option for a discount... If they don't agree I ship the note back and get a full refund. If they won't give a refund then they get negative feedback.
Edited by qbvbsite
10/24/2012 10:50 pm
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Pillar of the Community
Canada
3692 Posts |
That's negotiating after the price had been settled - like a reverse bait and switch coming from the buyer instead of the seller. Do your own due diligence and buyer beware. Ask questions before you bid; use all your options available to you before you put a bid in. Especially on the internet you have so much information at your fingertips that the only thing you can't get instantaneously is a good pic unless it's provided already.
So negotiate the terms BEFORE the sale, not after.
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Pillar of the Community
Canada
849 Posts |
This negotiating would only happen is the bill was labeled incorrectly... Specially with UNC notes which are really AU notes. In the picture you can't see the bends/scratches that would make a UNC note AU. You only know this when you have the bill in hand. So why not try to work it out instead of a refund? it's really better for both parties to give a discount instead of sending it back for a full refund.
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Pillar of the Community
Canada
849 Posts |
For example I purchased 2 x $2 1974 notes for a seller that were both labeled UNC and looked so in the photos provided. Once I received the notes and removed them from there holder 1 was clearly AU and not UNC. So instead of shipping one back for a refund we agreed on a $3 discount (price difference between a UNC and a AU note). I see nothing wrong with this and it works out for both parties.
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Valued Member
Canada
290 Posts |
I agree with qbvbsite on this one. If a seller sells a banknote which he advertises as UNC, whatever the picture shows, it should be UNC and not aUNC. Whenever I sell a banknote on ebay I make sure I describe all the flaws so that the buyer knows what he's bidding on. So far, no complaint. |
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Valued Member
United States
157 Posts |
 That is a very good process. Kudos to you for being detailed in your listings  . |
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Pillar of the Community
Canada
849 Posts |
If I ever start selling notes on ebay I'll be very detailed but I don't think I would label anything with a grade let alone UNC. For example I have received 5 orders that were supposed to be UNC but 2 of them were AU instead. Then I got to go through the hassle of sending them back or receiving an discount. Luckily I have resolved both issues with a discount that made both parties satisfied. |
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Valued Member
United Arab Emirates
242 Posts |
If you are looking for future "returned-money", always go for UNC condition and never compromise (especially for common notes).... For your case, when trying to reach a compromise with the seller in case note was not as described, it depends on how often you encounter such cases .... Meaning, if such cases are being frequent, either you need to strengthen your knowledge on how to grade notes or you are buying repeatedly from a same seller ... Eventually, nothing wrong with reaching a mid. point between you and sellers if you are "just" collecting for the sake of "Hobby" ... My 2 Cents  Cheers |
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Replies: 12 / Views: 1,940 |
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Posted 10/24/2012 8:54 pm
