Help assigning a value and determining if this is worth certification?

DelawareDoons

A friend is looking for an opinion on what this unissued Bank of Augusta $3 note is worth, and if it should be certified or not.

I will refrain from offering my own comment for the sake of presenting things impartially.

Thanks!

291fifth

Long ago I collected $3 obsolete notes. I never had that one. Unless the market for obsolete notes demands certification I would say save your money. Even if the note is spurious, which I doubt, it would still have a market as there were many spurious notes in circulation during the obsolete note era.

I currently have no "feel" for the obsolete market. Perhaps some others can comment on the state of the market today.

Steve_in_Tampa

I’ve seen these before on Heritage auctions. None of them were graded and most of them sold for around $50.

DelawareDoons

Any other opinions reinforcing or disagreeing with what's been said here?

Thanks!

sellitstore

Probably not worth certifying but hard to tell without note in hand. It's only worth certification if it comes back at the Gem CU level, 65 or above.

Most or all of the lines that look like folds in the photo aren't. They are irregularities in the paper that are typical of this issue. However, there could be a hidden fold or two in there, eliminating the possibility of a CU grade. Need to inspect carefully, in person.

Plenty of gems of this issue exist but I'll bet few have been certified. Older notes without color are least in demand by new collectors who want PRETTY (color) and high grade. These aren't considered pretty. Prices and demand are lower.

Serial_no_8

I have to agree with 'sellitstore.'

I didn't want to comment -without note in hand- since it is almost meaningless to do so. For me, note must be CU to Gem & with"Q" designation (either PPQ, EPQ or "Original") & that's simply impossible to ascertain with images or photos. Personally, I want any note I have to be about 5-10X in BV the cost to grade (so between $100-$200 minimum) but everyone has their own criteria in that regard. Our BCS here in Canada often knocks down grades for the slightest defect & he'll remove the "Original" designation on detecting the slightest impairment (so it can be a bit of a gamble on older notes- if you don't catch these).

Also, most veteran collectors have an opinion on a note's potential at market value as '291fifth' mentioned. If a collector thought this note has super potential than they might take a chance to grade.