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 Replies: 18 / Views: 3,017 |
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Pillar of the Community
2223 Posts |
I just discovered these this past month and thought they are absolutely beautiful. (Educational notes also) Not being a currency collector, I intend to start searching and watching for that right one to bid on.
I'll use the same strategy as I do for coin, buy the bill, not the holder and best example for the price (I'm shooting for a very nice AU or Unc.
Right way to go?
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Pillar of the Community
United States
4692 Posts |
Be careful. Raw notes can be tricky to grade. I bought 2 raw notes from reputable dealers. Note 1: 1899 Black eagle sold as CU -- PMG graded it as XF. Note 2: 1914 $100 sold as AU -- PMG graded it as VF. The notes fooled me big time, and the dealers are both well known national dealers.
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Pillar of the Community
7234 Posts |
Yes, Black Eagle note is beautiful. Along with the "Indian Chief" note, those are on my want list!
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Pillar of the Community
 2223 Posts |
Thank you jimbucks and Mark, I'll certainly will heed your advise and probably keep to certified notes.  |
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Bedrock of the Community
United States
94367 Posts |
Buying certified notes is fine, but the real key, of course, is building confidence in your own grading abilities. Go to as many shops and shows as you can and examine as many raw notes as possible. Don't be in a hurry to spend your hard-earned money!  |
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Pillar of the Community
2223 Posts |
 and Thank you! |
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Pillar of the Community
United States
4692 Posts |
And (in my opinion) NEVER, NEVER, NEVER buy early (or to be safe any) CGA graded notes. There was a huge scandal with the owner over-grading and then selling notes for personal gain. I got burned on a CGA 62 Bison note being re-graded as a PMG 55. There are a few other questionable grading companies out there too. Stick with PMG or PCGS.
Edited by jimbucks
07/31/2018 6:22 pm
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Bedrock of the Community
United States
94367 Posts |
If I may say so, I think condemning all CGA notes is a bit harsh. |
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Pillar of the Community
United States
4637 Posts |
Take your time, learn to grade then buy the note, not the holder.
Stay away from bargain, problem notes. This is a very popular note in all grades, so be very picky.
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Pillar of the Community
2223 Posts |
got it, thank you all |
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Bedrock of the Community
United States
94367 Posts |
By the way, there were over 3 BILLION Black Eagles printed, so take your time!  |
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Pillar of the Community
Canada
2577 Posts |
Quote:
I'll certainly will heed your advise and probably keep to certified notes. If I were about to buy a high grade Black Eagle, I would do the same ( invest in a certified note rather than raw). The biggest problem with raw notes sold online is you cannot inspect them for yourself. I've been collecting for 40 years and if there's one rule you can't go wrong by- its buying the best you can afford. I just looked at what ebay has to offer and there's some very nice UNC examples. Seeing that so many were issued- you'd be wise to get the highest ORIGINAL grade & see this purchase as an investment (rather than just a great note to have). The majority of notes listed are NOT original & therefore won't be easy to sell down the road. The thing you want to do is avoid notes that have been graded by the TPG's other members here have discussed without the EPQ or PPQ designations. So many older notes were pressed flat (& will look dull) compared to original notes. Be sure to buy what you can be proud to own -with a nice vibrant blue seal "1" marker & be sure that there is "EPQ" beside the grade (for PMG) and PPQ (for PCGS). Good luck! |
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Pillar of the Community
United States
4692 Posts |
Correction to my earlier post. I have a 1901 $10 Bison note that was in a CGA 63 holder prior to being graded by PMG as a 55. This is typical for older CGA holders and grades on these should be ignored.
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Pillar of the Community
United States
3402 Posts |
They are beautiful notes...look for any creases, bends, folds that might take it out of the UNC category. A UV light might turn up any washing.
KK
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Pillar of the Community
United States
4692 Posts |
Yes, they are nice. Years ago, I bought a group of them all graded PMG 64 or so. With the group was 1 ungraded note, that I figured must have some issue with it. I submitted it, and to my surprise look what it came back at! BTW, in the early days of PMG they did not necessarily note EPQ on the holders, but all notes graded 65 or higher are by definition EPQ, and PMG will re-holder them as such upon request.   Edited by jimbucks
08/03/2018 8:11 pm
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Bedrock of the Community
United States
94367 Posts |
A fine note for sure, nice pick. I tend to disagree with your across-the-board condemnation of early CGA notes, which I used to buy, cut and resubmit going back some years, though not much anymore. I don't have proof (who cared back then), but this was cut from a CGA 66 first generation holder bought at a big discount and resubmitted many years ago:  |
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Replies: 18 / Views: 3,017 |
Posted 07/30/2018 8:39 pm
