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Banknotes I Finally Got Graded

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Pillar of the Community
Canada
1461 Posts
 Posted 10/29/2013  2:25 pm  Show Profile   Bookmark this reply Add TheCoinHunter to your friends list Get a Link to this Reply
Although many notes are struggling at the moment, I think you'll do pretty well on a mismatched note in that grade. As others, I also like the NFLD note. Very cool.
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Colhand1's Avatar
United States
629 Posts
 Posted 10/31/2013  11:07 am  Show Profile   Bookmark this reply Add Colhand1 to your friends list Get a Link to this Reply
Every collector needs to have dealer mentality when it comes to value for their collection. I know there is a wholesale and a retail value, that retail or trends gives us an idea of what's it worth. My experience has taught me that Canadian dealers offer 25% of trends as a buy price. So if you can buy your treasure for less than that and hold on to it for 5+ years, you will make a profit. I have taken coins into the Toronto area in the past and offered them for sale to a dealer. First thing they say if it's true, it's been cleaned, meaning that it's worth less than what I am suppose to be thinking. Yet ask them to show you a coin that is in their inventory and they show you cleaned coins that they have priced at full trends. Who is kidding who?
As far as these banknotes are concerned, I hope that I sell them more than what I paid. I think that I can. If I can get any near 50% of trends, I think that I will be doing well.
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persistnt's Avatar
Canada
726 Posts
 Posted 11/20/2013  6:46 pm  Show Profile   Bookmark this reply Add persistnt to your friends list Get a Link to this Reply
On lower price items on the "Bay..." or online,, I find the item will sell for 60% of Charlton Cat.......some a little higher...50% of trends is not out to lunch should be easy attenable......
Edited by persistnt
11/20/2013 6:46 pm
Pillar of the Community
Canada
1461 Posts
 Posted 11/20/2013  9:03 pm  Show Profile   Bookmark this reply Add TheCoinHunter to your friends list Get a Link to this Reply
Colhand1. From a dealer's perspective, (and I don't do many notes so I'll relate to coins) I can't say that a "flat" % applies on all coins. It really depends on the coin variety, grade, rarity, whether already graded or not, by whom, etc...I've paid well over 60% on some rarer coins that I know I have a buyer for. The "clean" scenario is very often true, many people clean or at least wipe coins as they think if they bring them in all shiny they will fetch a better price. As a collector, you know that cleaned coins automatically loose 50%. US graders won't grade them and ICCS will identify it as such. Ethics of some dealers and what they sell is whole different story, and yes I'm sure there are some. But we shouldn't point to only dealers as the ethically challenged as the online market is saturated with individuals trying to turn over crappy stock as well. Market value is an interesting thing, coins can be trendy. By denomination, variety or country. Dealing in a lot of foreign coins, we can use Polish coins as an example. Very hot over the past 2 years and now a huge downturn in value. The reality is that the market dictates price at any given time. If you're buying coins at 50% trends on ebay, that's what they are worth today. The% might vary slightly as someone might be looking to complete a set or for more rare coins, but market dictates.
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