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Values Of Series Of 1902 National Notes & Other Price Guide

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grutus's Avatar
United States
8 Posts
 Posted 11/29/2014  11:39 pm Show Profile   Bookmark this topic Add grutus to your friends list Get a Link to this Message Number of Subscribers
I am looking for the value of:

Values-Of-Series-Of-1902-National-Notes-&-Other-Price-Guide
$5 from First National Bank of West Palm Beach, Series of 1902, August 1, 1917

Values-Of-Series-Of-1902-National-Notes-&-Other-Price-Guide
$10 from Herkimer National Bank, Series of 1902, July 30, 1918

Also, is there another resource besides the Kelly National Bank Notes book for national book? Neither my library nor the local book store have the Kelly guide.
Edited by grutus
11/30/2014 4:10 pm
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westernsky's Avatar
United States
7618 Posts
 Posted 11/29/2014  11:48 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
They are both pretty hammered. Looks like they have severe environmental damage.

The National might bring 30 to 50$ if there is a bidding war.

The FRN might bring double face value.
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westernsky's Avatar
United States
7618 Posts
 Posted 11/30/2014  7:25 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
I see you changed your pictures to two nationals (from one common national and one common FRN) and dropped the auction links. So.....that changes my above answer a bit.

The Herkimer natl is fairly common and is still worth 30 to 50 bucks in a bidding war in spite of it's poor condition (in my opinion).

The West Palm Beach note is tough and might bring some serious money (1k to 2k$) at auction depending on it's condition. It looks better than the Herkimer note.

You can search for notes like them, and see auction results, at HA.com (Heritage Auctions). You'll have to register for a free account to see auction archive results, but if it's information you are looking for its one place to look.

My Kelly book is old and only shows 2 large known on the WPB note. I'm sure others have surfaced in the last 15 years.

So, bottom line is one note is crappy and the other one might be a diamond in the rough.

Hope that helps and good luck!
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westernsky's Avatar
United States
7618 Posts
 Posted 11/30/2014  7:36 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
I just looked it up on HA.com and I STRONGLY SUGGEST you do so, too. I was totally surprised that a similar note, on the same WPB bank, in a little bit better condition than yours sold for some very serious money back in 2008.

Granted, the National bank note market is "soft" now but rarity still sells. You have a very tough note. Try to protect the note with a high quality currency holder. Do not laminate it, try to clean it, put tape on it or alter it in any way.

Congrats!





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MeadowviewCollector's Avatar
United States
4409 Posts
 Posted 11/30/2014  8:47 pm  Show Profile   Bookmark this reply Add MeadowviewCollector to your friends list Get a Link to this Reply
I looked at the West Palm Beach note in the Heritage archive man that sold for some serious $$$.

Yup this is the kind of note that would benefit from a recognized auction house if and when you decide to sell, they can reach a wider collector base.

Let us know what you do with this one.

-MV
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WheatBack's Avatar
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2850 Posts
 Posted 11/30/2014  8:56 pm  Show Profile   Bookmark this reply Add WheatBack to your friends list Get a Link to this Reply
I would suggest getting the West Palm Beach note graded. That is a rare and pricey note.
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grutus's Avatar
United States
8 Posts
 Posted 11/30/2014  9:22 pm  Show Profile   Bookmark this reply Add grutus to your friends list Get a Link to this Reply
Yeah, I did change bills :) Thank you all for the replies, and thank you for the tip on HA. I knew the WPB one was worth a good bit; that became clear when I posted it on ebay a couple of days ago. I took it down, because I thought that probably wasn't the best place for a valuable bill. I live in a major city and there are some big auction houses here ... are there any that you guys would recommend working with? Christies, Sotherby's, Freeman's?

If I take it to an auction house, should I still get it graded?

I have it in an envelope that used to have stamps in it (from a stamp shop). It's slightly opaque and waxy. Is that a good place to store it? Should it be kept in a book, a safe, a lockbox ... ?
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grutus's Avatar
United States
8 Posts
 Posted 11/30/2014  9:30 pm  Show Profile   Bookmark this reply Add grutus to your friends list Get a Link to this Reply
Holy cow! I just checked HA. How much better shape is that bill in than my bill is in?
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WheatBack's Avatar
United States
2850 Posts
 Posted 11/30/2014  9:59 pm  Show Profile   Bookmark this reply Add WheatBack to your friends list Get a Link to this Reply
I put your note at VG6 with perhaps a net grade due to some damage. Of course, at VG6 some damage is to be expected, so that could be subjective.

As for auction houses, it wouldn't be in your best interest for me to answer that as I know very little about how each auction house runs. (I only know how to buy ) I do know if I was buying a note of that caliber, I'd much prefer it to be graded.
Edited by WheatBack
11/30/2014 10:00 pm
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westernsky's Avatar
United States
7618 Posts
 Posted 11/30/2014  10:28 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
Graded by PCGS currency and auctioned in a major currency floor and online auction and it should do well. You want to get the note as much visibility as possible to a targeted currency collector base to get maximum results.

If I were you I'd definitely negotiate the auction fee in your favor. You have a highly marketable note and they should cut you some slack on the selling fee.

Let us know how it goes and please protect the note!

Good luck!
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westernsky's Avatar
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7618 Posts
 Posted 11/30/2014  11:17 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
The glassine envelop that stamps are stored in would be fine for temporary storage till you can get a high quality non-PVC currency holder. You need a Mylar-D archival quality holder for long term storage. The currency grading companies use similar holders.

If it were mine, it would be under lock and key in a bank safety deposit box.
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westernsky's Avatar
United States
7618 Posts
 Posted 12/01/2014  09:06 am  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
I bet when you put the WPB note up on ebay the "vultures" started circling and sending you "Buy It Now" requests or offering to buy it off ebay!

If they did, I'm glad you didn't fall for their "offers".

You have what I like to call a "killer" note! Thanks for bringing it to the CCF and asking your questions here!
New Member
grutus's Avatar
United States
8 Posts
 Posted 12/01/2014  12:41 pm  Show Profile   Bookmark this reply Add grutus to your friends list Get a Link to this Reply
Cool. I just ordered some PVC free archival grade currency sleeves. Just so have something to keep it in until I get it into the hands of an grader / auction house. I assume that brand doesn't matter too much ... I ordered then of a guy with good reviews (drcrarecoins2009)on ebay selling them loose.

And you're right about the Buy It Now offers and such, tons of emails and calls. Lots people telling me not to trust the other people that were contacting me. It was a very disorienting. I'm glad I wasn't rash about it ... all of a sudden I was hearing numbers being thrown around that are so big. I wonder what would have happened if I knew how much this bill was worth five or ten years ago (I say my chances of selling for the first big number I heard would have been 50/50).

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 Posted 12/01/2014  1:38 pm  Show Profile   Bookmark this reply Add lettow to your friends list Get a Link to this Reply
The auction houses you will want to approach (in no particular order): Heritage, Lyn Knight, Stacks-Bowers. All three have fairly high profiles in the paper money fields. Unfortunately, you have missed the window for consigning for the January FUN auction with Heritage. A sale in Florida may generate more activity.

If you consign to one of the major auction houses, they will have a note of this caliber third party graded for you.
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westernsky's Avatar
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7618 Posts
 Posted 12/01/2014  2:22 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
In the collecting field of National Bank Notes all it takes is for two bidders to want the same item. At auction, they go crazy sometimes.

Whenever you decide to sell yours just do your homework. You just gotta get in front of the right bidders. I agree that the FUN Show in Florida is probably the best venue for that particular note.
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grutus's Avatar
United States
8 Posts
 Posted 12/01/2014  3:07 pm  Show Profile   Bookmark this reply Add grutus to your friends list Get a Link to this Reply
Lettow, thank you for suggesting Lyn Knight. I've emailed them as well. (All of this has me being a very distracted employee today.)

Heritage suggested that location doesn't matter much because most bidding is done online these days. That seems reasonable to me, but I don't know.
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