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 Replies: 13 / Views: 2,564 |
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Pillar of the Community
Canada
706 Posts |
My coworker works at a TD branch on the side and managed to get his hands on a 1954 $1000 and saved it from the furnace. He doesn't collect banknotes and wants to pass it off to me. How much is a fair price to give for this bill? It's not UNC but not in bad shape either. The flash washes out the little folds in the bill. It is not a devil's face unfortunately :(  |
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Pillar of the Community
Canada
1751 Posts |
A very nice find, I would be all over that one. I have no idea Not many people could afford to sock one away back then.
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Pillar of the Community
Canada
4944 Posts |
Edited by Canadian-Banknotes
01/09/2016 01:25 am
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Pillar of the Community
Canada
1505 Posts |
I am not sure who I feel sorry for on the first auction listed 2 x $1000 notes selling for $2001. The person that sold the notes, losing approx $300 off the FV in fees, or the person that bought 2 x $1000 notes from someone with 0 ebay feedback, sounds like a recipe for disaster. If it was me, I would probably not do much more than FV, unless you are looking to hold for a long, long time or anticipate losing money. By the time you get it graded and pay any selling fees, you will be lucky to get FV back. If this was MS, maybe a different story. |
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Bedrock of the Community
Australia
21788 Posts |
If you take it for $1,000 it would have to be resold, and reasonably soon.
At an assumed average inflation rate of 3.8%** over the last 62 years, it has already lost over $8,000 of it's original buying power in 2016 dollar terms, since it was issued.
To get the the actual average inflation rate over the last 62years consult with the Canadian Bureau of Stastics, or whatever other responsible Government agency handles this sort of information.
It will continue to loose buying power, at whatever the current inflation rate happens to be.
**My assumption, based loosly on Australian stastics, which shouldn't be that much different from the Canadian economic experience.
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Pillar of the Community
Canada
798 Posts |
I've never been into bills ... but I think $1000 and a nice bottle of red is sufficient ;)
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Pillar of the Community
Canada
2632 Posts |
Thats a nice find but all the above comments are good advice. I keep mine on a keychain..lol  |
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Pillar of the Community
 Canada
5400 Posts |
I have that 1954 1000 on a coffee mug that I enjoy every day. Do not buy that for even face value. As another poster said inflation will kill any chance of profit.
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Valued Member
Canada
430 Posts |
Pay him an extra $10 or $20. Joe from J&M pays slightly over face value, perhaps around $1,025 or higher, depending on condition. He bought a few of my bird $1000 between $40 to $80 over face. And they were not in great condition, that I received from the bank for FV. He has buyers for these notes.
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Pillar of the Community
Canada
2845 Posts |
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Pillar of the Community
Canada
1751 Posts |
Going by inflation what would a 50 cent 1900 shinplaster be worth today. Looking at inflation makes a bad argument for having a savings account. I was flabbergasted at how inflation impacted such a recent note, or to learn there's no real market for it. It is in nice condition for a circulated note.
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Rest in Peace
United States
2668 Posts |
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Pillar of the Community
Canada
2845 Posts |
The Cdn inflation calculator only goes back to the year 1914. But in US dollars the purchasing power of $1 today was $22.37 in 1900 and I'd guess Cdn stats would be similar.
You're absolutely right, basic savings accounts are not designed as an investment growth option.
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Pillar of the Community
Canada
532 Posts |
I'd take my money and get bullion for it. While it's low. But that's just me. 25 over face seems all I'd pay if I could flip it.
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Replies: 13 / Views: 2,564 |
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Posted 01/09/2016 01:22 am
