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$1 Note Collection Advice

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CelticKnot's Avatar
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12819 Posts
 Posted 02/28/2015  01:00 am Show Profile   Bookmark this topic Add CelticKnot to your friends list Get a Link to this Message Number of Subscribers
So jmorgan's fantastic $10 note collection in the following thread got me thinking (and drooling):
https://goccf.com/t/200521

I'm not much of a currency collector (I'd like that to change), though I do have a few star notes and such. I'd like to start a similar collection as jmorgan's but with $1 notes. Thinking that to start me off, a $1 collection would not require as much of an investment as a $10 note one, but of course I could be wrong...

What would be a good starter checklist? Obviously a silver certificate, a Hawaii note and an FRN. What else? Any major varieties of those? At some point after (or during) building such a type set, I'd probably collect as I do coins and try to find a specimen from each series, but for now I think one of each type or major design change would be sufficient.

Thanks in advance for your replies and help.
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jimbucks's Avatar
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 Posted 02/28/2015  07:13 am  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
There are a lot of ways go. If you want to stay with small size, then the red seal and experimental notes would be a nice set. Large size can be challenging, but the 1896 and 1899 have really nice designs.

Attached are some from my collection.

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CelticKnot's Avatar
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 Posted 02/28/2015  12:01 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Thanks for the suggestions and pictures, jimbucks. I think starting with small size and then branching out from there is probably the best start for me so I don't go too crazy right out of the gate.

I assume by "challenging" for the large size you mean $$$$? Or are examples just really difficult to find?

I found this checklist on uspapermoney.info:

USN, 1928
SC, 1928-1928D, blue seal left, first legend
SC, 1928E, blue seal left, second legend
SC, 1934, blue seal right, original back design
SC, 1935-1935G, blue seal right, Great Seal back design without motto
SC, 1935A, brown seal and "Hawaii" overprint
SC, 1935A, yellow seal
SC, 1935G-1957B, blue seal right, motto on back
FRN, 1963-1963B, Latin Treasury seal
FRN, 1969-2013, English Treasury seal

Seems like a good list to work off of but have not done any market analysis yet to see what the...challenges...may be here. Is the USN the red seal?
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 Posted 02/28/2015  12:55 pm  Show Profile   Bookmark this reply Add Groszy to your friends list Get a Link to this Reply

Quote:
Is the USN the red seal?

Yes.

Of course, you could always challenge yourself and create a **real** nice set, i.e., one of every signature, with stars, mules, and printing varieties (web notes, COPE vs LOPE printing, etc.). After 1991, you could also expand into notes printed at FW and DC.

Of course, you could go crazy and collect notes additionally by print run...but I think that's crazy. After all, the prices for some runs are insane, and the number of people collecting by print run are small. And you'll never be able to complete such a set for the older notes (as no records on the matter were kept)

Good luck with your endeavor!
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GR58's Avatar
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 Posted 02/28/2015  1:19 pm  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
Doing small size notes in smaller denomination can be a fun set to put together.

I think your on the right track on what you posted.

You can look at like a type set for notes .. or even a combination of type and signatures.

Here is a post of what I was putting together a couple years ago.

https://goccf.com/t/151904
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CelticKnot's Avatar
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 Posted 03/01/2015  04:19 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Thanks all.

@GR58... Your collections are (as usual) amazing and the pics are tremendous. I love the ancillary pages you've added to your albums and I'd like to pick your brain on those if possible.

@Groszy, I have a propensity to go overboard when it comes to collections, which is why I was originally trying to limit this collection initially. Ah, who am I kidding... I'll probably at some point end up somewhere between your "**real**" and "crazy" definitions, if I'm lucky

Gee THANKS, guys... now I have to spend (more) money on money.

I'll keep y'all posted.

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GR58's Avatar
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 Posted 03/01/2015  06:33 am  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply

Quote:
I love the ancillary pages you've added to your albums and I'd like to pick your brain on those if possible.


No problem. I can even send you some of the information spreadsheets, so you could customize them to your notes.

These albums come with a single pocket page, for me I thought that would be the best to put in that page.
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nalaberong's Avatar
Canada
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 Posted 03/01/2015  11:38 am  Show Profile   Bookmark this reply Add nalaberong to your friends list Get a Link to this Reply
Don't the modern dollar bills have a seal saying which Federal Reserve they were printed at? How does that work; does anyone try to collect one of each location for each year?
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GR58's Avatar
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11951 Posts
 Posted 03/01/2015  12:04 pm  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
Current notes are Federal Reserve Notes ( FRN)

Notes are made at two facilities, BEP in Wash. DC
and the Fort Worth facility (FW). The print all the notes
Fir the 12 Federal Reserve banks.

The location of, and the design of the seal is different on each
denomination.

Using the one dollar note as a example. The black seal on the left side of the note will have a letter. (A through L) There will also be a set numbers,
1 through 12, in four location on the front of the note. The letter and number will
always be the same for each Federal Reserve bank.

They will be
Boston A/1
New York B/2

All the way up to L/12 for San Fransico

And yes some collectors collect 12 notes for each series to have
one from each Federal Reserve bank.

Edit - I am not sure every series/year has a note for each FRN.
The 1963B Barr note comes to mind.
Edited by GR58
03/01/2015 12:14 pm
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D0ubl3Eagle's Avatar
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 Posted 03/01/2015  1:21 pm  Show Profile   Bookmark this reply Add D0ubl3Eagle to your friends list Get a Link to this Reply

Quote:
I assume by "challenging" for the large size you mean $$$$? Or are examples just really difficult to find?

You could easily add a 1923 silver certificate and probably a 1917 legal tender. They are common and affordable though the legal tender will cost a little more. F/VF examples can be had for under $100 each. Other large size notes that you can consider that may fit your budget are 1918 federal reserve bank note, 1923 legal tender, and 1899 silver certificate. Most of the other notes other than the ones are going to cost much more unless you sacrifice condition. Hope this helps.
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CelticKnot's Avatar
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 Posted 03/02/2015  4:03 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Thanks for all the suggestions and information, everyone. As I start to put my set together I'll post pics.
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CelticKnot's Avatar
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12819 Posts
 Posted 03/04/2015  03:34 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
I've started to do a little research on the cost of putting together a small $1 note album. I've found I can spend several hundred dollars on some of the older notes.... of course, that's if I pay what the ebay sellers are asking, and generally those are graded. Looking at "sold" auctions things are generally less except for the "buy it now" lots.

Based on the gorgeous albums I've seen I want to start at XF or AU and go straight to CU where possible - but could certainly be deterred based on advice.

I've decided to start with the 1935A issues, so, what's reasonable to spend on a decent AU 1935A Brown, or a 1935A Yellow? I see prices (and conditions) all over the board but $100 seems about where the market is for a graded AU of either. I don't even need/want graded but I don't know enough at this time to know what to look for in the way of currency for doctoring. Should I look elsewhere besides ebay? Should I start with lower quality requirements?

I know only I can make my buying decisions. All advice is appreciated.
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GR58's Avatar
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11951 Posts
 Posted 03/04/2015  07:55 am  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
I like to check CDN Greensheet to get a start point
on what I would like to pay for a note.

I don't think I am going to any coin shops today, so I can't check the Greensheet prices today.

From what I remember AU/CU 1928, 1928A and 1928B SC notes
trade in the $100 range. I think in XF they drop down a good amount.

1928C, 1928D and 1928E SC, would be very expensive in upper
grades.

The 1928 USN in AU/CU can be $400/$500. My USN (red seal) is maybe VG/Fine I think I paid around $75. If a nice XF
comes along at my LCS ... I might pick it up.

Hawaii and North Africa $1.00 notes are available in all grades. Take your time, I think you can find one you like.

Not sure what your plan is, for a set of notes. Do a lot of looking. There is a good reference book for small size notes.
$1-Note-Collection-Advice

You might like using a book like this to help plan what
notes to put into your set.
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CelticKnot's Avatar
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 Posted 03/04/2015  12:23 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Thanks, GR58. Will look into that book.

I'm (loosely) keeping track of ebay sales so hopefully I can get a good idea of the market on these guys before pulling the trigger.
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CelticKnot's Avatar
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 Posted 03/27/2015  02:43 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Is $110 a good deal for a CU 1935A Hawaii note?
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hajduk's Avatar
Germany
645 Posts
 Posted 03/27/2015  08:05 am  Show Profile   Bookmark this reply Add hajduk to your friends list Get a Link to this Reply
I Think $110 is a good price for a $1 CU HAWAII bill.
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