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$100 1929 Frbn Chicago Sequential Order

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westernsky's Avatar
United States
7624 Posts
 Posted 03/06/2017  10:17 am  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
Walking these now 23 (17+6) through onsite grading at a coin show will set you back well over $1000. Onsite grading is not cheap.

You are now saying "I may have to sell these 17 in one shot". (Helpful hint: If you sell these notes in one shot you might as well sell them without being TPG'd.....you will not recover your expensive grading fees UNLESS you score notes that grade higher than MS-66ppq). Check with a few local coin dealers and see what they offer you. You know the "book value" is somewhere around 300$ per note. I will be surprised if you are offered half that amount when push comes to shove at a coin shop. If they come close to "book" then it is up to you to either sell now or persue other avenues.

Also remember that your (17, 23 or whatever) notes have now impacted the available population figures for Chicago 1929 "C" NBN's. Once/if you get them slabbed, recorded population numbers will go up. As with any commodity, the laws of supply and demand take hold. As a general rule, the greater the supply there is, the more of an impact it has in suppressing the value.

I still stand by my original suggestion of placing a few single notes on ebay, with a minimum start that protects your investment and letting the actual currency market determine the notes values. If you go this route keep the group of 17 intact and sell only notes from the group of 6.

If you need to quickly recover your investment then you just have to do what needs to be done. If you wanna get "all the meat off the bone" then you have to develop a marketing plan and disperse the notes a few at a time.

Good luck!
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coin197's Avatar
United States
1963 Posts
 Posted 03/06/2017  10:26 am  Show Profile   Bookmark this reply Add coin197 to your friends list Get a Link to this Reply
I would hate to see the set of 17 broken up. I would not use ebay, as it will set you back 13% of the total amount.
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coinlover1899's Avatar
United States
3058 Posts
 Posted 03/06/2017  10:32 am  Show Profile   Bookmark this reply Add coinlover1899 to your friends list Get a Link to this Reply
Wow! Nationals! I only have one myself!
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westernsky's Avatar
United States
7624 Posts
 Posted 03/06/2017  10:54 am  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
Why not use ebay? 13% for obtaining "retail value" money is a heck of a lot better than 100% of what a typical dealer would pay. Most B&M dealers I know would have trouble even paying half of book value for notes like the OP has posted here. I've seen notes like this bought for 10% over face at LCS's with the seller given the excuse "that there is just no market" or "it's too much face value to have tied up". (I just had to hold my tongue when I saw that crap happen!)

The typical dealer has overhead costs that are way beyond what an ebay selling fee is. Besides, their business model dictates that they have to pay less than retail to stay in business.

If I were in this situation I would take one note from the group of six, list it on ebay with an accurate description and excellent scans and put a minimum opening bid to protect my investment (but below book value) and see what happens. At least I would then have an idea of what things are worth in the real world.

13% is a small price to pay when you are scoring retail value at auction!
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Coinfrog's Avatar
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94367 Posts
 Posted 03/06/2017  5:37 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Lots of good advice here - very tough decision.

First, I would venture that these notes have no premium as a consecutive group. They are not collected this way. Selling them as a lot will bring a serious discount however you do it.

Second, condition is everything if you submit to the TPGs. The notes look quite fresh in your pics; if indeed they are new on PQ paper, then it mostly comes down to centering on both sides. Being consecutive, the centering is not likely to vary much, but it's possible. Suggest you carefully examine each note using stamp tongs and snap gloves, pick the one you feel has the best centering on both sides, and post it here for review. I certainly do not agree that you need the prospect of better than a 66PPQ TPG rating to warrant a single test submission, with apologies to westernsky if warranted.

Third, if you proceed to ebay for a test and are not an experienced ebay seller, be careful about your description and return privilege wording. Send the note in a stiff currency holder with a small tape hinge to prevent it being removed (and potentially damaged) by the buyer. Simply indicate on the listing that returns must be in the original unopened holder.

Good luck - and show us a couple of pics!
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coin197's Avatar
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1963 Posts
 Posted 03/06/2017  5:53 pm  Show Profile   Bookmark this reply Add coin197 to your friends list Get a Link to this Reply
Also, if you do sell on ebay, I will assume you are not an experienced seller, and you will have to deal with the $1000 maximum sales and only 10 listings a month.
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westernsky's Avatar
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7624 Posts
 Posted 03/06/2017  6:21 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
Frog...no apologies needed. Everybody has their own way of doing things and everybody's collective thoughts are what makes things work.
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Coinfrog's Avatar
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94367 Posts
 Posted 03/06/2017  6:37 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
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CelticKnot's Avatar
United States
12844 Posts
 Posted 03/06/2017  11:11 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
@Cf - If you haven't already seen it there is a -worthy photo on the 1st page of this thread. Wow.

edit - I didn't read your entire post. I now see you indeed saw the pic and were looking for pics of the other side. Sorry...
Edited by CelticKnot
03/07/2017 9:53 pm
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RobinBanks's Avatar
United States
32 Posts
 Posted 03/07/2017  7:38 pm  Show Profile   Bookmark this reply Add RobinBanks to your friends list Get a Link to this Reply
I went to a coin shop yesterday and I was told that If I sold this to a dealer that I would get $150 a piece for it. I was hoping for at least $200 a piece lol. He said they are in uncirculated condition which was good news.

Robin
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Coinfrog's Avatar
United States
94367 Posts
 Posted 03/07/2017  8:34 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Stay calm, see my earlier post and show us both sides of what you think is the best-centered note in the run. There is a lot of potential value here - do not settle for an @$150 offer, which I consider almost unethical from a dealer.
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coin197's Avatar
United States
1963 Posts
 Posted 03/07/2017  9:00 pm  Show Profile   Bookmark this reply Add coin197 to your friends list Get a Link to this Reply

Quote:
I went to a coin shop yesterday and I was told that If I sold this to a dealer that I would get $150 a piece for it. I was hoping for at least $200 a piece lol. He said they are in uncirculated condition which was good news.


Absolutely NOT!
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mfhorn's Avatar
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959 Posts
 Posted 03/07/2017  9:53 pm  Show Profile   Bookmark this reply Add mfhorn to your friends list Get a Link to this Reply

Quote:
I was hoping for at least $200 a piece lol.


SOLD!
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westernsky's Avatar
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7624 Posts
 Posted 03/07/2017  10:38 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
I told you earlier that you'd be lucky to get half of book value from a dealer. I am surprised that they offered that much so your notes are obviously pretty nice.

Now...take some initiative and list one note on ebay and see what happens there. You have absolutely nothing to lose if you follow best practices, list accurately AND have multiple detailed scans of both sides of the note. List the note slightly below "book" ... maybe 250$ ... and let it run auction style for a 7-day period that ends on a Sunday night at 10pm eastern time. That gives you maximum exposure to a large collector base and collectors are where the true value of your notes are determined.

If you don't know how to do ebay have a friend that knows how help you. It's not rocket science but having an experienced seller helping is a big plus.

Some people have an aversion to selling and shipping stuff online. I understand that if you are that way but it might be worth a try.

You could also check with a few other dealers OR shop them around at a local coin show.

Good luck!
Edited by westernsky
03/07/2017 10:44 pm
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RobinBanks's Avatar
United States
32 Posts
 Posted 03/07/2017  11:01 pm  Show Profile   Bookmark this reply Add RobinBanks to your friends list Get a Link to this Reply
Thanks Western. I will take that advice. I am familiar with ebay and have sold many items on there but none with currency. I will post another set of photos shortly as requested.

Thank you everyone for the advice. I really appreciate your knowledge.

Robin
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