The Sampson Hoard - How Sometimes It Is Better To Spend It Rather Than Collect It.

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Author	Replies: 4 / Views: 1,357
billenben Valued Member Australia 134 Posts	Posted 03/15/2023 04:57 am The Sampson Hoard is an extensive hoard of pre decimal banknotes being sold at IAG tonight (15/03/2023). What is really interesting is that a lot of the notes are selling for about 1/10th of what their buying power would have been in their day. For example 60 pounds (6 x 10 pound notes) from 1943 according to one "what is it worth today" calculator says over $4000 yet the lot doesn't even get to $400 at auction. Looking at the face value of the hoard it seems rather clear Sampson was better off spending most of it rather than collecting it. I think there is a lesson there. Report this Post to the Staff

PlumCrazy814 Pillar of the Community United States 856 Posts	Posted 03/15/2023 08:34 am ...a lesson we learn every day as collectors. Edited by PlumCrazy814 03/15/2023 08:34 am Report this Post to the Staff
Wade Pillar of the Community Canada 2769 Posts	Posted 03/15/2023 12:07 pm I assume the period for exchanging the notes for decimal replacements has long past? Report this Post to the Staff
Sap Moderator Australia 16470 Posts	Posted 03/15/2023 6:00 pm No, you can still deposit any Australian note issued since 1901 in any bank for full face value. A 10 pound note will get you $20 in the bank. The bank might have procedures in place to hold the funds until it gets proof of authenticity of the note before crediting your account, so you might not get your current-money-equivalent immediately and on demand, but you can still do it. And yes, hoarding physical cash is always a very poor long-term investment. Sampson is lucky the notes are still valid at all. For many countries, notes issued back in 1943 would no longer have any validity at all and be worthless except to collectors. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis Report this Post to the Staff
Basil Pillar of the Community Australia 1020 Posts	Posted 03/15/2023 6:49 pm Quote: The Sampson Hoard is an extensive hoard of pre decimal banknotes being sold at IAG tonight (15/03/2023). What is really interesting is that a lot of the notes are selling for about 1/10th of what their buying power would have been in their day. Yes,IAG will put a positive spin on it but the sale overall seems flat,understandable with FUD in the community,high interest rates,inflation and people ,including small Business,having problems paying their Power bills. Interesting to see what happens tonite,many of the lots in the 'Samson Hoard' don't have any bids at this stage. I've been keeping an eye on Lot 754,100 1949 1 Pound notes,currently A$26,000 which is out of my league. https://www.iagauctions.com/auction...estimate=all Edited by Basil 03/15/2023 6:50 pm Report this Post to the Staff
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