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 Replies: 11 / Views: 2,626 |
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Valued Member
Canada
96 Posts |
From what I have read so far, if a banknote is graded it will just get a "Details" grade with a short blurb of what damage the bill has if there is handwriting of any kind on the bill.
I have the opportunity to buy a bill from someone, BUT, the bill has writing (a "75" to the right of the seal) and a red felt mark just touching the top of the 2nd last digit of the serial number and is about "2 digits' wide.
Question is, HOW MUCH percentage-wise is the value of a bill (in general) reduced by pen or felt marks? So far I have only seen it described as "Significantly", but are we talking 50%... 75%... more?
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Bedrock of the Community
United States
94367 Posts |
We'll need pics to help you evaluate this.
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Valued Member
 Canada
96 Posts |
Here is the damaged area in question  |
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Moderator
 Australia
16805 Posts |
There is no hard-and-fast rule as to percentage price reduction for this kind of damage. It all depends on how noticeable such damage is.
Unless a note is very old, or some kind of rarity in terms of serial number or series, then I would expect such markings would reduce it to face value only, as collectors simply don't want pen-marked notes. This is a star note, which normally does command a premium, but it's pen-marked as well as circulated, and that signature isn't that old. You might find someone prepared to pay a couple of dollars for it?
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
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Bedrock of the Community
United States
94367 Posts |
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Valued Member
Canada
96 Posts |
The bill would make up half of a 2013B star note duplicate serial number pair. The lowest graded pair (with not pen makrs) had bills graded 25 and 30 respectively, and that pair got $1050 at auction.
Assuming this bill would grade "details" only and the other bill would grade a 30, what would you guess the pair would be worth?
Another question I have is would an auction house like Heritage, StacksBowers, GreatCollections, etc, even want to auction off a banknote that has just a details grade?
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Moderator
Australia
16805 Posts |
In that case, the value of this note is not in the individual note itself - it's in the pairing with its partner. Asking what the value of just one of them would be is like tearing a valuable note in half, then asking what the value of each piece of that note is: it's worthless or mostly worthless, once it's been torn apart; it's only valuable as an intact whole.
But considering the pair of notes as a single artifact, and the more general question: we go back to my original statement. It's really impossible to predict what the market value of "damaged rare goods" is, because of those two mutually opposing forces: rarity and demand driving the price up, and damage driving it down. All you really have as a guide is a price range: it should definitely be worth less than $1050, because one of the notes is damaged; it should definitely be worth more than the $50 or so you'd get from splitting the pair and selling the two star notes separately. Maybe "somewhere in between" at around $500 might be a good starting point, but it's really something that can only be determined by the potential buyers when it's offered for sale.
As for auction house policies, I would think you'd need to contact each house and gauge their interest. Because again, you're not really trying to sell "a banknote that just has a details grade", you're selling a pair of banknotes which together constitute an interesting and valuable "error".
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
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Pillar of the Community
United States
4637 Posts |
As more and more pairs are discovered, I expect the price to decrease for marginally graded pairs.
Are you wanting to sell your note to the other party, or are you trying to determine a value on the pair in order to make an offer for the other note ?
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Valued Member
Canada
96 Posts |
Just trying to determine the value of the pair, but I don't have a good feel at all at how much pen/felt marks affect value.
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Pillar of the Community
United States
4637 Posts |
You could have the marker and pen mark removed if you wanted to, but judging by the notes overall condition in the partial image, the improvement may not help much.
Edited by SteveInTampa
10/04/2023 07:43 am
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Pillar of the Community
United States
800 Posts |
I agree with all of the answers. In the future please try and post at least 1 of the serial numbers (preferably the entire front) and the series for a more accurate answer.
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Valued Member
Canada
96 Posts |
I really do not see how showing the entire serial number, or the whole bill for that matter when the quesiton is about marks on a bill.
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Replies: 11 / Views: 2,626 |
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Posted 10/03/2023 5:44 pm
