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HoneyBadger
See, this is why you DO NOT overpay for $5 bills...

5 1934A-GSTAR.jpg  Courtesy of "tecc1" on eBay.com
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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luca
Don't understand the price, as the only people who would care to buy these in bulk are dealers who would never pay anywhere near that.

Always looking for low S/N Red Seals / $5 FRNs: 1950a - 1969b

eBay Store

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HoneyBadger
For sure...but imagine if something like this happened on the $5 1928A Dallas.
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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Numbersman
Probably not the best way to go about selling them...just my opinion.Now,if they were 1928A $5 Dallas I would have bought them immediately!
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larry510
A lot of notes got killed like this.  Up until about 2 years ago the finest known $5 1934C SC mule star was like a VF 35.  Then all of a sudden a big name dealer came up with a run of about 7 in uncirculated condition.  This of course killed the value on the Fines and Very Fines that people had previously paid a lot for.
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HoneyBadger
Yeah, exactly @larry510. I mean look at the notes above. It’s $95 face value. This could happen to any one district and series...or star for that matter. 

Yes, this is already a fairly common star, but it just serves as a reminder to be careful throwing new car money at some of this stuff. Heck, look at the recent developments with the $50 1928 Gold Certificate Star...not exactly a common note...yet they have been showing up in AU and UNC this past year.
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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larry510
Yep good post.  I know a guy who paid $600+ for a $10 1928B San Francisco in 66epq when it was either top pop 1/0 or 2/0.  Shortly after a large quantity hit the pop report and 66's start selling for $300.  Then $200.  He lost more than half his money in just 6 months or so.  
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HoneyBadger
Some may say, “I have been collecting 40+ years and I can assure you hoards of these notes are just not out there.” Here is why I think that reasoning is flawed. Not only are we far more well connected technology-wise today, but we are also more mobile. Where I am from we can trace our heritage back hundreds of years...and my people are, for the most part, still right here within a 3 hour radius! But my generation is moving around. Heck, most of the people I went to school with have moved away. People just do not stay put anymore. When people move the proverbial trees tend to shake old fruit from the limbs, sometimes from limbs that have not stirred for generations. 

I personally believe that small size note populations are going to change radically over the next 10-20 years.

I might would agree that large cash hoards are less likely on something like $500 1918 FRNs...but small size $1’s, $2’s, $5’s? Anybody’s grandpa could have stuck a run of rare districts, varieties or stars in an envelope somewhere...because we are ultimately not talking a whole lot of face value.

It only takes one small run to annihilate the rarity of any one particular note.
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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EarlySmallSizeFanatic
This one of the main reasons that I am just focusing on star notes: It is much less likely to see a large run of the scarcer districts suddenly appear. 

Back on the 12 subject series notes, stars were hand inserted and were printed on an as needed basis. In order to get a large group of stars, it would either take an exceptional pack of notes that had many notes replaced, or a very large group of packs with several stars in each pack. 

Wile it is very highly possible to see a pack (or even two) show up of the $5 1928A Dallas, how many stars would each pack contain ? 
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TookyBandit
Overpaying for $5’s is rather subjective. One man’s too much is another guy’s deal of a lifetime! 😃 

That group is super tempting, but they’re Chicago 1934A’s ...not worth the price of admission (To me) at near $300/ea. Lots of the 64’s look generously graded.
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jhodgson
TookyBandit wrote:
Overpaying for $5’s is rather subjective. One man’s too much is another guy’s deal of a lifetime! 😃 

That group is super tempting, but they’re Chicago 1934A’s ...not worth the price of admission (To me) at near $300/ea. Lots of the 64’s look generously graded.


I agree.  There are several 64s feel are overgraded.  Looks like he is trying to get full retail on a lot that should be a wholesale lot.  At $200 to $250 per note, I would probably buy the lot.

Want to increase your knowledge about US small sized currency? Find interesting tidbits about US small size currency:

https://www.facebook.com/American-Paper-Connection-Inc-585643014808093/?ref=bookmarks
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maxcrusha (aka Greg)
link:

https://www.ebay.com/itm/FR-1957-G-5-1934-A-Federal-Reserve-Note-Chicago-19pc-Lot-CH-PMG-Gem-63-66EPQ/143623555968?hash=item2170a18b80:g😋TgAAOSw2uhe2Vkx
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telephoto1
I've always said that paying all the money for any "rare" small size of this ilk is usually a sucker's game. There are many hoards out there that are going to kill prices as some point. If I can go to at least five dealers at any given show and find CU examples of the issue, it's not that rare.
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Cody71086
I've always said that paying all the money for any "rare" small size of this ilk is usually a sucker's game. There are many hoards out there that are going to kill prices as some point. If I can go to at least five dealers at any given show and find CU examples of the issue, it's not that rare.


Bingo. The fact is certification still isn't accepted with older collectors and dealers. There may be runs or packs of literally anything you can think of in a holding just waiting for the day the owner croaks and the accumulation heads off to the plastic factory.

In coins later date wheat cents (56-58) bring STUPID money in 67 or above. The population isn't there. However, there are still bags and rolls by the millions that haven't been graded. One sneeze and they will go from $900 to $19.

Grade chasing is a scary game and only for the brave. Nationals aren't much different. The demand rate is lower than most other types--you have to have people hot for a certain area to really make any money. On small size there are more people doing it so more demand so you have somewhat of a cushion. Bragging about a unique National is setting yourself up for heartache. A town in Iowa came out in 2016. Note sold for over $20K! INSANE. Year later Stack's sell ANOTHER from the same town for like $15K. Well the first example went to a longtime collector because that is his hometown--I would've done the same if I thought it was my only shot. The second went to the museum. So now two of the biggest players for that town are out. If another comes out it's maybe a $3K note because it isn't on a radar anymore. I've talked to the guy who bought the first one and we both agree there will probably be 7-12 known in the next few decades based on knowledge that has become available. Hell I have a unique note in my collection that's brother I visit yearly....

That's why I never collect to profit. I collect for fun and that's all.
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HoneyBadger
Cody71086 wrote:


Bingo. The fact is certification still isn't accepted with older collectors and dealers. There may be runs or packs of literally anything you can think of in a holding just waiting for the day the owner croaks and the accumulation heads off to the plastic factory.

In coins later date wheat cents (56-58) bring STUPID money in 67 or above. The population isn't there. However, there are still bags and rolls by the millions that haven't been graded. One sneeze and they will go from $900 to $19.

Grade chasing is a scary game and only for the brave. Nationals aren't much different. The demand rate is lower than most other types--you have to have people hot for a certain area to really make any money. On small size there are more people doing it so more demand so you have somewhat of a cushion. Bragging about a unique National is setting yourself up for heartache. A town in Iowa came out in 2016. Note sold for over $20K! INSANE. Year later Stack's sell ANOTHER from the same town for like $15K. Well the first example went to a longtime collector because that is his hometown--I would've done the same if I thought it was my only shot. The second went to the museum. So now two of the biggest players for that town are out. If another comes out it's maybe a $3K note because it isn't on a radar anymore. I've talked to the guy who bought the first one and we both agree there will probably be 7-12 known in the next few decades based on knowledge that has become available. Hell I have a unique note in my collection that's brother I visit yearly....

That's why I never collect to profit. I collect for fun and that's all.


Brilliant analysis!
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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