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 Replies: 9 / Views: 2,282 |
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Pillar of the Community
United States
629 Posts |
I've put this note up on ebay twice now. I have seen only 1 other note that was graded AU55. His price was out of reach but I figured to give it try considering my grade was much higher. I bought this note on ebay and submitted it to PMG for grading. When I bought the note I asked the seller about how he obtained it. He told me that he lived in the Vancouver area and in the mid 60's at his coin club someone brought in quite a few of these and were selling them to members as a novelty. The seller bought 3 of which this was the nicest note. Not sure of the value - just did a search and found another that appeared to be in VF but ungraded condition that had a sticker price of $300. I don't believe it's that common an issue - and I felt that mine had a high grade that demands a premium. Your thoughts?  |
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Pillar of the Community
Canada
1528 Posts |
I would think that with Mis-matched serial numbers and a high grade you should charge a nice healthy premium when selling it.
Perhaps $400.00 - 600.00?
Others will weigh in.
Edited by GMS5
11/23/2018 11:33 am
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Pillar of the Community
Canada
2578 Posts |
Quote:
I don't believe it's that common an issue - The 1954 modified portrait is one of Canada's most common issues but I believe you're referring to the mismatched serial number error - which is not & quite difficult to find in any grade. Quote:
Not sure of the value - just did a search and found another that appeared to be in VF but ungraded condition that had a sticker price of $300. So if that VF note you mentioned is in US$ it is already priced far too high and is a big turn off to a lot of CDN collectors who'd just rather see what the true market price would be (which could easily be north of $300). The 2018 book value is $475 for an UNC 1 digit mismatch (that's about $360 US). That may not seem like much for such a rare note but there are significantly fewer Canadian paper money collectors who seek errors (than in the US market). Personally, I'd expect your note to go higher than that. Remember that a lot of CDN collectors will be wary of US customs so your note might be more appealing to US collectors (esp if you list in US). Notes that are a lot more common are going for pretty high auction prices lately (here in Canada) and I think part of the reason is that collectors are getting jaded with the high number BIN (or starting bids/ listings in US) that seem way off book on ebay. Live auctions seem to be much healtheir than online auctions since they typically begin at low bids (reflecting true market demand) & I feel a lot of bidders forget to factor in the buyer's premium. |
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Pillar of the Community
 United States
629 Posts |
Thanks for your input! I have been selling my Canadian coin collection on ebay recently. I have found that when I only look at the Canadian auctions and not buy it now, that the majority of the coins listed on ebay I believe are coming from the coin stores. This would be true of Canadian paper money as well. Collectors seem to be far and few in-between when bidding on my items. It's the briefcase dealers that seem to have the most interest in my items, looking to get the coins cheap enough so they can resell at a profit. If that's the way it is, that's the way it is. I can't control the market. I have considered to putting the banknotes in an auction but am not sure that I would benefit from this unless the note/coin was extremely rare and I don't have any of these. |
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Pillar of the Community
United States
629 Posts |
The other note that was PMG graded AU55 was listed on ebay for over $2000, it did not sell from what I know. |
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Pillar of the Community
Canada
2578 Posts |
Quote:The other note that was PMG graded AU55 was listed on ebay for over $2000, it did not sell from what I know. -so exactly my point. I would say 80 - 90% of the 1935 BOC higher TPG graded notes listed are by US sellers (in US funds) some with the $30 shipping (including customs) and all BIN or fixed auction listings are at or above BV (which is like adding +30% onto the price). I've seen some of the stock languish there for at least 2-3 years since its an area I've been focussing on. It can turn a collector off of collecting. Another thing I'd like to point out is - just because its rare doesn't mean a high BV. There are many notes much rarer than the 1954 Devils Face (DF) issue but are priced far lower (because no world demand). I won't bother to get into specifics but trust me - there are many issued notes that are far more uncommon and go for a bargain prices compared to DF. Then there are many more special serial numbers (solid radars) replacements, very low serial numbers & even specimen collectors who drive up the BV of these rather than error notes. I cannot fathom the appeal of a specimen yet there is very high demand for them (thus high BV). Lastly, there's been a real and very alarming scam of fake errors (serial numbers removed; cut sheets; etc) that's turned a lot of collectors off of collecting errors. Edited by walk2dwater
11/24/2018 5:46 pm
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Pillar of the Community
United States
629 Posts |
I have been putting my coins on ebay. Prices that I put up I believe are bargains. I use CCN as a retail list and discount a lot off of that, typically at least 50%. I also use J & M as a reference. To help those that win more than 1 auction, I will combine postage which is only fair. Also I work with repeat buyers and will lower the value on the shipment so that they don't have to pay as high a tax. The Canadian exchange is a concern of mine but I knew that when I started collecting. I believe I offer nice Canadian items that I have cherry picked from dealers in the US over the past 40 years. I enjoyed the chase and still do. |
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Pillar of the Community
Canada
2578 Posts |
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Prices that I put up I believe are bargains. - I'm sure you do. My ebay observations weren't directed at you or your error note. I have found that many collectors I used to know have stopped collecting & I'm beginning to understand why (lack of good/new material online) & then when I see better TPG items they're so often listed in US and not even remotely close to book. Just last night I saw a 1954 $1 Devil's Face which when converted from the US$ into CDN$ was exactly at BV but that didn't include the $50 Customs/Shipping costs (thus $80 CDN above book). I'm actually concerned that the # of CDN paper money collectors is shrinking (I've heard this about coin collectors too). Canada is listed as one of the top cashless societies. I wonder if there's a lack of new blood too. |
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Pillar of the Community
United States
629 Posts |
The Canadian government is not numismatic friendly. The mint churns out product with the hope that every grandparent in the world sees value in giving these things to their family!
Canada removed small denomination paper money, no more cents are produced and I thought that I heard that nickels were on their out as well. Honestly, I think that the dime should go away, it's easier to use the nickel with purchases. The coins made of nickel have been removed from circulation so that they can reuse the metal to coat the new coins. So a new collector or young collector has little opportunity to pull coins from circulation to start a budding interest in collecting. And then there are the coinsorts that take your money and charge you a %.
Nice coins are readily available, silver nickels are inexpensive for their silver content.
It's got to be frustrating for a new collector, they are best to join a coin club as I would give them coins to foster their curiosity.
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Pillar of the Community
Canada
2578 Posts |
Quote:
The Canadian government is not numismatic friendly. The mint churns out product with the hope that every grandparent in the world sees value in giving these things to their family! Very true for the former government & your comment re: RCM non-circulating products - this is often lamented upon in CCF's CDN Non Circulating (NCLT) forum. In 2012, when Canada switched to polymer, with the Frontier Series I was aghast at the drab colours and the unimaginative 2-tone designs. A new thread (& poll) on the CPMF (Canadian Paper Money Forum) has maybe 24 samples from members who reflect on their collecting habits. 33% stated they're collecting the same while nearly 46% stated they're collecting less than they did previously! Some of the reasons were lack of interest in the Frontier series (which I sure understand) but I also believe a lot of notes are simply priced out of reach for the average collector. I think the government since 2016 may have a more positive impact on CDN paper collectors with the introduction of the "150" ten and now the "vertical" series. The designs on both notes are much more contemporary & visually appealing. However, they also chose to remove legal-tender status for $1, $2, $25 & $1000 notes which has angered a lot of collectors - so I guess "time will tell" what will become of the hobby. Edited by walk2dwater
11/28/2018 6:13 pm
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Replies: 9 / Views: 2,282 |
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Posted 11/23/2018 1:04 pm
