Was I Big Currency Loser? More Than I Normally Am?
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- Опубліковано 12 чер 2024
- In the Currency Roundtable video #3 we gave recommendations of where to purchase banknotes and one of them was Auction Houses. This video is about my process to estimate a fair market price for a banknote that I'm looking for and to share my thoughts and experience of the first auction that I won from Heritage Auctions.
Currency Roundtable #4 Video Link
• Where Do We Purchase P...
Is it called Paper Currency or Paper Money? Because it’s not paper at all. But I am a Paper Money Collector and like Paper Money Collecting as a Hobby. The Hobby is called Numismatics and if you collect you are a Numismatist. I also love History and work for a historical society and love collecting a Dollar or Dollars specifically the U.S. Dollar or is it the US Dollar? I have recently started collecting Obsolete Bank Notes or Obsolete Banknotes? Is Banknote one or two words. Today’s currency is made by the Bureau of Engraving and Printing (BEP) and issued by the Federal Reserve Bank which issues Federal Reserve Notes that have a green seal and green serial numbers. At one point in time they issued large size banknotes called Federal Reserve Bank Notes. The Treasury Department used to issue Treasury Notes, Gold Certificates, Silver Certificates, and Legal Tender Notes, United States Notes and National Bank Notes. There were two sizes of U.S. currency. They were the Small Size Banknote, Small Size Bank note and the Large Size Banknote, Large Size Banknote. Before 1996 they were called Small Head Banknotes, Small Head Bank Note and after that they were called Monochrome Bank Note, Monochrome Banknotes. - Розваги
Outstanding Video! 🔥🖤🖤🖤🔥I enjoy the auction house experience. Good deals can be found!
Thanks Ontario! And thanks for your help!
What a great video! I didn’t catch if you said how long this particular hunt took you. It is important to remember this is a hobby for a lifetime and taking your time pays off.
Thanks Stu - this was the fifth Heritage Auction that I was going after that note - so at least a year and a half.
Great video Dan! Great process too. I’m really happy for you WINNING this note! Great mini-collection and I hope you do get that $100 Gold Certificate someday 😎🤙🏼
Thank you my friend! It was a great not for me - very happy to finally get it.
You're closing in on that all-important 1k subscribers Dan!
Inching closer - all good with what I have!
Wow, lots of questions were answered in this video. I now have an account with Heritage. Note to all other viewers: Watching these videos will have you go down the rabbit hole.
Great stuff, Dan, I appreciate the hard work you put into these videos for us.
Good! And 100% correct - and there are multiple rabbit holes! Thanks Gunny
Great video, Dan. Thanks for sharing your process. I learned a lot and congrats on your purchase.
Thanks Jeff - it was an interesting to break the process down that much and realize for myself that, yeah, you can save money!
Shopping around is a must and what your time is worth. 👍
It really was for me on this note. Heritage won't be the only answer but you have to look - even with the premium.
Oh yeah forgot to mention…”Smoking crack” 😂🤣
Hah! And yep - totally crack smoking
Great video! Your hard work on the hunt truly did pay off with that beautiful note!
Thanks HolyYuckles - labor of love with "the hunt"
I love Heritage and they’re the only large auction house I’ve used. The format is so much better than Stacks or GC. A couple tips to save you money:
You can link your account directly and save 2.4% and you can save on shipping if you have them hang on to items until you have won a few over the months and have them all shipped at once
Thanks Tylon GREAT additional tips!!!! And agree, Heritage is much more user friendly but Stacks and GC don't have as much volume but I still check them out. Ontario100 just won a note off Lyn Knight talking to him today about that process.
Great video -Thanks for the breakdown. It was very educational.
Thanks Emanuel! I need catch up on you Twonies!
Another great one Dan, packed full of information I did not know, i’d say you really enjoyed the research involved getting a fair price,thank you, keep them coming, Keep Stackin bro
Thanks Big O! I like doing the research - part of the hunt!
W 11:59 ow, congrats on your win. Just one on Heritage auction a 1899 two dollar Silver certificate 58 grade I can’t believe the price that I got it for it is amazing. The deals that you can get there even though the premium is 20% it is still worth it to be in an auction in StacksBowers or Heritage Auctions. I will be showing that note live.
Thanks Big Apple - and nice on the 1899!
Hi Dan. Thanks for another fine video! I agree with your conclusion, as contrary to my going-in thought when buying from auction houses, you can get good values from the auction houses. I have successfully used your stated process to get good values: Research prices, set a budget and stick to it. This requires patience! This is difficult as I have seen currency prices continually rise. At least in the auction process, it’s the buyer resetting the values, not the seller attempting to do that with wishful thinking. Lots of crazy prices out there in E-Bay! Congrats on your win!
Thanks for the kind words. You bring up a good point with rising currency prices which is a good thing for the hobby in moderation, especially with us buyers not paying crazy prices.
Very nice process and video!!! Thanks.
Thank for the kind words - appreciate your channel and the level of detail you provide.
Congratulations on the new purchase! The process of finding and purchasing a new note/coin is oftentimes a big part of why that particular piece is special to us. You'll have to give me more tips and tricks on navigating HA. You say the site is user-friendly, but I have never purchased from there, because I simply cannot figure it out! haha. Great to see a new video from you during this busy time and really looking forward to your mysterious future collab! Oh, and that Chopin note is really cool!
Thanks Joe! Maybe "easy" is in comparison to for Heritage which is "easier" to use than the other Auction Houses. Let's talk the next time we are talking - and I can see why you would like the Chopin note!
Great stuff! I haven’t tried Heritage yet, now I will!
Give it a try - you have to sign up of course - watch a Tuesday Auction and it really helps get a feel for the Heritage process.
@@PolarCurrency I will! I appreciate the info! It’s always good to have options.
Great info in finding past sales prices on Heritage
Thank you sir!
I have gotten from Heritage for several years. Not that it's always cheaper , but it's convenient for me as well. And i've always liked participating in auctions.
I fully admit that I haven't spent the time to do my homework on a note very often. time as a community - I have little of 😢
Well I appreciate you taking the time supporting the channel Mark! Thanks for the comment sir!
Hi Dan!! Great banknote for a very great price! I shold check some auction houses at some point in the future aswell!! Looking forward to all your future projects! And of course waiting for another currency roundtable!! Best regards!!!
Thanks Roman appreciate that and next Roundtable coming out this Friday.
@@PolarCurrency Hi Dan! Great news!! I am already looking forward to this!!!
Congrats on a nice first win at Heritage! I've shied away from the more traditional auction houses due to the buyers' premiums - they're a bit scary to me - but I might look at it a little more now that I've seen how your experience was. Thanks for sharing your method, and btw, really digging your Greenland banknote poster!
Thanks BanknoteDen! Try watching a few Tuesday Auctions - they're kind of interesting for a nerd like me! I did strike out on 4 of the $50 Gold Certs before this first "victory". And the Greenland note is on my want list!
Well made video.
Thanks Jeff - fun to do the research for it!
This was a great video.
There is just something wrong about having to pay sales tax on any form of coins, currency or bullion
GD
Thanks GD - and yep, welcome to Minnesota! Something that was never SOLD before and never generated any original sales tax...not right.
My experience with both Heritage and Stacks is that I usually underestimate the random "because we can" fees that get tacked on. It's a little crazy to me that one can click $550 as a bid and wind up paying over $200 more than that after all is said and done.
No doubt it is crazy - that's why you have to know what the "extras" are going to cost. What's crazy to me is I still got the note $250 less - with costs, fees, taxes - than I would have from eBay. Maybe an LCS could be less? My issue I could not find that note locally for a year and it did not see it at the Central States show that was in my budget. Thanks for the comment - it's a good one.
Very nice
Thanks RNR!
i have seen stuff go for very reasonable pricing because the volume is just too high i feel, so bidding is not as aggressive than ebay etc.
I have too. Even with losing 4 other auctions for the $50 Gold Cert those notes still went for under $900 as compared to $1000 for ebay prices - still believe ebay is a great source for notes!
Heritage auction can be addictive and easy to get carried away even if u start out with a firm top price…lol. Are u gearing up for a commemorative banknotes of the world video or musical theme notes, Perhaps? 🤔
4Kollector - you are on the right track! I needed a few examples for the project and @massabesicgoldandsilver told me about the Chopin note - beautiful and so cool.
Perhaps one day I will try an auction for some currency. Can tell you that you definitely got a great price for a 15.
Thanks Timothy - Heritage helps me with research and prices too. Even if you never purchase it can really give you part of what the market price is.
Great video, keep it up.
Thanks and appreciate the support!
Lots of crack smokers 💨 on eBay.
Frequently these guys will win a lot on Heritage and they will have the same note listed on eBay later that night, for 4x more.
Heritage is great though. ✅
Sooo true! It’s frustrating.
Too many crack smokers! And you're correct @massabesicgoldandsilver and @ontario100 have pointed this out a few times.
Outbid!
Yep...I've heard that many, many, many times!
Dan, you are so right on the money here. Do your research before you buy. And speaking of Gold Certificates and crack heads, right now on ebay some crack head is asking $2350 for an AU 58 Ten Dollar Gold Certificate! He must be so high that he can't even smell the current market value! And this guys calls himself a dentist? I know going to the dentist is not supposed to be comfortable, but this guy is drilling us all a new one with out the nova cane! WTF this guy needs to go to rehab. Sheesh, you are so right, research that market value before you bid. Thank you so much for your great education. We are all a community who refuses to smoke the crack or drink the Kool Aid!
Thanks for the kind words and I HAD to go look that up - It's $2850!!!! See link at end. AND the Cheap bastard is charging $17 for ECONOMY shipping! The cheapest 58 on eBay right now is $1699. Went over to Heritage and two 58 notes sold for $1100 & $1400 this past May. I don't know but people have to do the research and pay a fair price. I don't complain about prices going up - that means the hobby is healthy but not by 30-50%. No crack smokin' and Kool Aid drinkin' here.
www.ebay.com/itm/186072381066?itmmeta=01J0Q7R8S2CJGYHBYDFEWQJ2Q1&hash=item2b52c7368a:g:rigAAOSwj8FfdXF5
@@PolarCurrency The best way to laugh off a guy like this rip off artist is to win bid on Heritage. Case in point, on last Tuesday's Currency Auction I scored one of these 1928 Ten Dollar Gold Cert, PMG 55 EPQ for $577 plus tax and shipping. No problem here we know how to do it! Thank you Dan for your channel.
I think I will try Heritage now. I enjoyed how you broke down the costs line by line. I was very interested to see that. Fyi - I just went out and pre-ordered the new Friedberg 8th edition on Amazon its out july 2. 24.95 and free shipping so not bad. Great video! Thank you for sharing that experience💯
Great and too funny I did the same thing about 3 days ago with the same book!
@PolarCurrency hello, i hope all is well with you. By any chance have you received the 8th edition yet? I ordered (on Amazon) june14 and says no shipping date yet :(. Probably because i want this copy so bad, of course my luck to be delayed! Ha! Thank you for all that you do for the community 💯
@@stonz_camp I haven't got it yet either.
@PolarCurrency thank you. I'm glad im not alone! I'll post a quick message here when I get it.. I hope they send it out soon! Thx again :)
@@stonz_camp My order for Official Red Book: A Guide Book of United States Paper Money, 8th edition shipped!
HA fees are ridiculous
20% get out of here
But when the note is market priced? I searched a year for the right note at the right (fair market) price - scoured local currency sellers and local & national shows could not find the price I paid, and it was 25% less than on eBay. What does it matter what fees are?