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 Replies: 13 / Views: 2,340 |
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New Member
United States
6 Posts |
Hello everyone! I've been lurking this forum for a few weeks and finally decided to jump into the action. I started collecting notes from circulation a couple of months ago and was wondering if I could get some advice. Normally I will pick up 300 ones from my local bank, search them, then exchange them for 3 hundreds at a bank near work. Rinse and repeat. Are there any other ways to find old notes at a bank? I guess I'm just ignorant on how banks usually handle this stuff. Can I just ask for old notes or maybe ask them to call me if they get any? Or are there other places I should be looking? One other small question: Is ebay pricing normally considered market value? I'm sure there are other places to buy older/unique notes but again, I'm pretty ignorant. Random afterthought: It's interesting to me that the large majority of collectors seem to go for only the highest quality notes. Maybe I'm just a weirdo, but I like seeing bills with a little history behind them. UNC examples always have a sort-of fake look to me, especially the older ones. Anyways, thanks in advance for any advice. |
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Pillar of the Community
United States
4637 Posts |
Welcome to CCF 2dollarBill. Quote:
Random afterthought: It's interesting to me that the large majority of collectors seem to go for only the highest quality notes. Maybe I'm just a weirdo, but I like seeing bills with a little history behind them. UNC examples always have a sort-of fake look to me, especially the older ones.
Collecting paper money is a lot like many types of collecting whereas rarity and condition generally dictate value. Since we have no way of knowing the history behind a note that we pluck from circulation, I am unable to understand this reasoning. Mid grade and up notes tend to have more of their original color, and are cleaner and it's easier to detect the printing details that give older notes pleasing eye appeal. An XF Bison or Chief tends to be prettier than a FINE example, with less folds and distractions. I'm curious what you're looking for when going through 300 notes at a time. What do you you keep, or better yet, what do you collect ? |
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Bedrock of the Community
United States
94367 Posts |
Well said. 2dollarBill - Indeed, tell us more of your interests.  to the CCF! |
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Rest in Peace
United States
7075 Posts |
Quote:Is ebay pricing normally considered market value? Be sure to look at SOLD prices. And, I guess it's about as reliable source for valuation as you're likely to find. Just remember that there are bidiots out there and if the prices seem too high -- they probably are, so you need to watch the prices for awhile to get to know that. Also, watch out for fake error notes. I collect/hoard some old circulated notes. I mostly keep them because I found them, not because they will ever be worth a lot. |
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Bedrock of the Community
United States
94367 Posts |
Notwithstanding the sorts of notes I often post on this forum, the majority of my holdings are indeed circulated.  Edited by Coinfrog
12/27/2016 7:27 pm
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Bedrock of the Community
 United States
12839 Posts |
regarding ebay,  with Buddy. ebay is absolutely a market, if not THE market in many cases given its volume and massive audience. And while prices of BIN auctions may be a bit inflated due to fees and surcharges being passed along to the consumer, the validity of sale prices (particularly from non-BIN auctions) really can't be argued too much. I think it's a very good gauge of FMV. You can probably do better at coin shows overall but you have entrance fees and travel costs, etc. As always, the buyer should beware as the sale value of the item increases... |
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Bedrock of the Community
United States
12839 Posts |
Oh and indeed! to CCF, 2DollarBill!! |
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Pillar of the Community
Canada
5241 Posts |
@2dollarbill, in some cases if a person has a good relationship with a bank they will save odd stuff for you.
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Pillar of the Community
United States
677 Posts |
Quote:
SteveInTampa: Collecting paper money is a lot like many types of collecting whereas rarity and condition generally dictate value. Since we have no way of knowing the history behind a note that we pluck from circulation, I am unable to understand this reasoning. It really is pretty simple. To generalize; some people (like you and most others) place the fair market value of the item over it's historical value. Others like 2dollarBill and I, are more interested in the historical value. Obviously, we perceive it to have more historical value that you do. Who's right? There's no correct answer to that. It's up to the individual to decide. And you are right, there is no way to know where a circulated note has been. But it's pretty easy to guess where a perfect note has been: nowhere. I'll take a circulated note or coin any day. They have more "character."  |
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Pillar of the Community
United States
2850 Posts |
Most of my collection is circulated, but that is mainly because I collect rare large size and nationals. The large size notes I collect I would never be able to afford in UNC condition and nationals you just have to take what you can get.
As for searching through random notes, you'd be better off taking a hundred or two and buy some circulated old notes. Some early Federal Reserve Notes can be bought for a couple dollars over face. Or better yet, take the $300 and get one nice piece that you will be proud of. Just my thought on it.
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Pillar of the Community
United States
4637 Posts |
Quote:
And you are right, there is no way to know where a circulated note has been. But it's pretty easy to guess where a perfect note has been: nowhere. I'll take a circulated note or coin any day. They have more "character." Some uncirculated notes do have a history even though they were not used in a way they were intended. Back in the early 60's when the $1 FRN was introduced, replacing its Silver Certificates predecessors an experiment was underway. The BEP was looking for an alternate source of security paper in case Crane and Company had an interruption in manufacturing. The Gilbert Paper Company, Menasha Wisconsin, won a contract to produce paper used in making US paper money. The Gilbert Paper Company used the one dollar bills printed on their paper as sales aids to promote their paper business. I was able to talk with the daughter of the man that received this note and kept it as a keep sake for over 50 years. She said her father often showed the note to friends and family detailing the story behind it.  |
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Pillar of the Community
 United States
5029 Posts |
2dollarBill Cool note with history Steve. |
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New Member
 United States
6 Posts |
Holy cow thanks for all the replies.
@SteveInTampa - I guess I'm just looking for anything out of the ordinary: Old notes, stars, fancy serials, errors, etc. Also, I love that story behind the 63a.
@schmidty You pretty much nailed it. There is something special about a note that has been in the hands of ordinary people for 30, 40, 50+ years and survived hundreds (maybe thousands) of transactions. It makes me sick that banks will just shred these pieces of historical art. It feels like my responsibility to save them haha.
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Bedrock of the Community
United States
94367 Posts |
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Replies: 13 / Views: 2,340 |
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Posted 12/27/2016 5:12 pm
