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Steve in Tampa

       As some of you know, I’m a member on several paper money forums. Recently, on a different forum, a member asked what their note was worth, and later in the thread a different member publicly questioned my assessment. To avoid a public argument, I PM’ed them asking for an explanation. Their answer surprised me. 

      Apparently, their evaluation is based on what they like/collect and not on current trends. They valued the note at FV and went on to explain that many were printed and saved, and the note is easily found. They also added that a coin shop or dealer wouldn’t put any premium on the note. 


        We don’t see a lot of “ What’s my note worth ?” here on this forum from new collectors and was wondering, am I doing this wrong ? Are collectors asking what other individual collectors would pay, or what to expect in a popular retail setting ? 

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MaineJoe
Steve, unfortunately it is the end user's choice. In an open buyer/seller/collector world it is the discretion of the end owner. A public display of such an argument and question would I believe be that of the individual replying and their status as either a buyer, seller or collector. Tough call in any direction unless you know the who and what direction they are heading.
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coinfrog
Asking that "what's my stuff worth" question is kind of immature to me.  Collectors who've been around awhile usually know where to go for pricing information. Guess that's why I enjoy this forum so much - most people here seem a bit older, wiser and more experienced. ðŸ™‚ 
The value of anything is what you can sell it for the same day you bought it.
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HoneyBadger
coinfrog wrote:
Asking that "what's my stuff worth" question is kind of immature to me.  Collectors who've been around awhile usually know where to go for pricing information. Guess that's why I enjoy this forum so much - most people here seem a bit older, wiser and more experienced. ÃƒÂ°Ã…¸â„¢â€š 


I was going to say, I appreciate this forum for that reason as well. Nothing wrong with a newcomer asking intro questions, but if it was every other thread, that would get annoying very quick.
FRN Collections Complete - 1928-1934 LGS: $5 [87%] - $10 [37%] - $20 [2%] - $50 [6%] - $100 [0%] - $500 [0%]

http://www.1928notes.com - If you have a new note to add, please let me know.
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Dan Cong

If anyone has ever watched antiques road show or even pawn stars, the age old question hangs prominently through out the explanations of what it is and how old it is etc. so people who have made an effort to join a forum to ask the question have a significant desire to find out. While it might end up as “spend it” - the path to get there could turn that person into a collector. A bit about the history, how old it is. How it’s different from current currency etc, can make their interest transcend cash value. 


yeah a dealer might not pay a lot for it, but if you elevate it as a piece of history - that value is worth far more than just a dollar value. Plus, as they do on antiques road show - in uncirculated condition these. Sell for blah blah blah on eBay might spark someone buying a companion to their new find. 

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gnat
When asked about the potential value of a note, the best (and widely acceptable) way to assign a dollar number is to look at comparable sales. This is true not just for currency, but is the basis used for everything from Real Estate to Coins. It is is implied in the question that the valuation is "retail," not wholesale (unless someone asks "what do you think a dealer would pay for it?" - which might be very different).

To suggest otherwise, or base a valuation on personal preferences is -- well, I'll call it "lame."
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Steve in Tampa
Perfectly answered and my thoughts exactly Randy, thank you.
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EarlySmallSizeFanatic
gnat wrote:
When asked about the potential value of a note, the best (and widely acceptable) way to assign a dollar number is to look at comparable sales. This is true not just for currency, but is the basis used for everything from Real Estate to Coins. It is is implied in the question that the valuation is "retail," not wholesale (unless someone asks "what do you think a dealer would pay for it?" - which might be very different).

To suggest otherwise, or base a valuation on personal preferences is -- well, I'll call it "lame."


Great idea, but what about a situation where there is only one or two known notes and at most one if any trackable sales ?

Great examples: 

$5 1934B B star FP 212
$10 1934 K star LGS
$20 1928 K star
$10 1934 E star mule. 
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MEC2
The answer would then be:

"A lot."
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