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Unopened pack of $500"s

gumby1234gumby1234 Posts: 5,428 ✭✭✭✭✭
edited March 10, 2022 1:24PM in U.S. Coin Forum

PCGS certified an unopened pack of $500 bills. Its believed to be the only one in existence also the oldest known unopened pack.

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    WAYNEASWAYNEAS Posts: 6,355 ✭✭✭✭✭

    Wow.
    Can not wait to see what it goes for at auction (when and if it does).
    Wayne

    Kennedys are my quest...

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    JMS1223JMS1223 Posts: 1,100 ✭✭✭✭✭

    Wow! That’s unbelievable. When I saw the title I assumed it was a pack of 100 $5 notes ($500 face). I am very interested in seeing what this ends up bringing at auction.

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    Che_GrapesChe_Grapes Posts: 1,851 ✭✭✭✭✭
    edited March 10, 2022 1:01PM

    Pocket change?
    Or just some walking around money...?

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    gumby1234gumby1234 Posts: 5,428 ✭✭✭✭✭
    edited March 10, 2022 1:07PM

    @Che_Grapes said:
    Pocket change?
    Or just some walking around money...?

    50K is not even pocket change today. Imagine what it could have bought in 1934??? I would guess a really rich person had this or it was locked away in a bank vault somewhere.

    $986,644 Adjusted for inflation, $50,000 in 1934 is equal to $986,644 in 2021. Annual inflation over this period was 3.49%.

    Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM

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    goodmoney4badmoneygoodmoney4badmoney Posts: 1,127 ✭✭✭✭

    That is incredible!

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    MarkKelleyMarkKelley Posts: 1,765 ✭✭✭✭✭

    @SanctionII said:
    I wonder what the PCGS fee was for grading and slabbing an unopened block of currency issued in or about 1934?

    I also wonder if the grade of Choice Unc 64 is the grade of each of the $500.00 bills in the unopened pack, or if each bills was graded separately, totaled up and divided by the number of bills to arrive an an average grade (also how many bills are in this pack?)

    I saw some of these slabbed currency packs at the recent Long Beach show.

    Very interesting, but I prefer shiny round pieces of metal.

    A pack of 100 notes as per the serials. Also, the date stamp is 4-24-44.

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    JBKJBK Posts: 14,788 ✭✭✭✭✭
    edited March 10, 2022 1:34PM

    @gumby1234 said:

    @Che_Grapes said:
    Pocket change?
    Or just some walking around money...?

    50K is not even pocket change today. Imagine what it could have bought in 1934??? I would guess a really rich person had this or it was locked away in a bank vault somewhere.

    $986,644 Adjusted for inflation, $50,000 in 1934 is equal to $986,644 in 2021. Annual inflation over this period was 3.49%.

    That's what I was thinking. Imagine if the original owner or an early owner had invested it.

    I wonder if it came from Europe where it may have been held as a hedge against inflation or occupation.

    Or maybe it was illegal money. Perhaps Al Capone's vault wasn't empty after all. Did Geraldo Rivera get these graded? :D

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    rickoricko Posts: 98,724 ✭✭✭✭✭

    I had no idea they slabbed currency packs.... I have seen individual bills of course. Quite impressive. Cheers, RickO

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    Dave99BDave99B Posts: 8,364 ✭✭✭✭✭

    I believe I read that the assigned 64 grade was the average grade of all the notes within the pack.

    Dave

    Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
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    MilesWaitsMilesWaits Posts: 5,310 ✭✭✭✭✭
    edited March 10, 2022 2:57PM

    That is so damn cool! I wanted just one! But to have a pack, woof, all my dreams would come true.

    Now riding the swell in PM's and surf.
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    JBKJBK Posts: 14,788 ✭✭✭✭✭

    @SanctionII said:
    What is the definition of "unopened"?

    I would think that having each of the $500.00 bills previously graded by NGS and placed into separate NGS holders (which would require removing each bill from the paper wrapping shown in the PCGS slab photo) would be something that most persons would consider "opening" the pack of bills.

    Maybe instead of the term "unopened", the term "restored to its original state" would be more accurate.

    I agree but the slab says "full pack" so they are covered.

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    WalkerfanWalkerfan Posts: 8,976 ✭✭✭✭✭

    Simply amazing!! :o

    “I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~

    My Full Walker Registry Set (1916-1947)

    https://www.ngccoin.com/registry/competitive-sets/16292/

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    fastfreddiefastfreddie Posts: 2,771 ✭✭✭✭✭
    It is not that life is short, but that you are dead for so very long.
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    johnny9434johnny9434 Posts: 27,521 ✭✭✭✭✭

    I'd be smiling for a long time with that in my possession

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    DoubleEagle59DoubleEagle59 Posts: 8,200 ✭✭✭✭✭
    edited March 10, 2022 4:37PM

    PCGS grader..........

    "That'll be $3000.00 for grading fees please." (I hope PCGS has a sense of humor).

    https://youtu.be/dAiecJKCzGg

    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
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    pmh1nicpmh1nic Posts: 3,151 ✭✭✭✭✭

    Very cool indeed!

    The longer I live the more convincing proofs I see of this truth, that God governs in the affairs of men. And if a sparrow cannot fall to the ground without His notice is it possible for an empire to rise without His aid? Benjamin Franklin
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    KliaoKliao Posts: 5,471 ✭✭✭✭✭
    edited March 10, 2022 4:49PM

    Amazing strap to have stayed together and have certified. Like other have said, $50k is a huge amount of cash to have today let alone in 1934.

    Young Numismatist/collector
    75 Positive BST transactions buying and selling with 45 members and counting!
    instagram.com/klnumismatics

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    vulcanizevulcanize Posts: 1,339 ✭✭✭✭✭

    @gumby1234 said:

    50K is not even pocket change today. Imagine what it could have bought in 1934??? I would guess a really rich person had this or it was locked away in a bank vault somewhere.

    $986,644 Adjusted for inflation, $50,000 in 1934 is equal to $986,644 in 2021. Annual inflation over this period was 3.49%.

    Very cool!!!!!
    Has to be some sort of a tycoon with that kind of money being stashed away at that time.
    Have an unopened pack of one rupee notes just like the one on sale at https://www.ebay.com/sch/banknotes-international/m.html which is not rare by any definition, but they are stapled through and definitely curious if our hosts would even look at anything like that.

    @DoubleEagle59 said:
    PCGS grader..........

    "That'll be $3000.00 for grading fees please." (I hope PCGS has a sense of humor).

    https://youtu.be/dAiecJKCzGg

    LOL.
    I have actually seen in person the exact same way of counting being done in Asia. Very enthralling display of skill.

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    ccmorganccmorgan Posts: 1,212 ✭✭✭

    I'm speechless................ :o

    Love the 1885-CC Morgan
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    Steven59Steven59 Posts: 8,294 ✭✭✭✭✭

    So a "put together pack"........... still pretty darn amazing. Some people restore cars - others restore packs of $500 bills - :)

    "When they can't find anything wrong with you, they create it!"

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    gumby1234gumby1234 Posts: 5,428 ✭✭✭✭✭

    @Steven59 consecutively numbered bills, maybe it was taken apart and put back together, but it cant be a put together pack.

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    Steven59Steven59 Posts: 8,294 ✭✭✭✭✭

    @gumby1234 said:
    @Steven59 consecutively numbered bills, maybe it was taken apart and put back together, but it can't be a put together pack.

    OK, "Put back together pack" it is...................... B)

    "When they can't find anything wrong with you, they create it!"

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    BuffaloIronTailBuffaloIronTail Posts: 7,413 ✭✭✭✭✭

    @ricko said:
    I had no idea they slabbed currency packs.... I have seen individual bills of course. Quite impressive. Cheers, RickO

    They slab horses, Don't they? ;)

    Pete

    "I tell them there's no problems.....only solutions" - John Lennon
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    gumby1234gumby1234 Posts: 5,428 ✭✭✭✭✭

    @BuffaloIronTail said:

    @ricko said:
    I had no idea they slabbed currency packs.... I have seen individual bills of course. Quite impressive. Cheers, RickO

    They slab horses, Don't they? ;)

    Pete

    They slab crickets

    Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM

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    OnastoneOnastone Posts: 3,786 ✭✭✭✭✭

    Okay, how many bills in a "full pack"? Banks count singles into 25 packs, 5's into 20, 10's and 20's into 25....but are those full packs? Is a full pack of any denomination just 100?

    And although it is cool to have the **band **slabbed as well, it blocks a good portion of the bill...blocks the bank seal and the "legal tender" paragraph.

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    JMS1223JMS1223 Posts: 1,100 ✭✭✭✭✭

    I just noticed something. It appears to look like a tear on the first note, between the R and E
    in HUNDRED. I can see it in both photos:

    Seems odd they would straight grade it, but maybe it’s something else and it just looks like a tear.

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    PerryHallPerryHall Posts: 45,444 ✭✭✭✭✭

    It sure looks like a tear to me. :o

    Worry is the interest you pay on a debt you may not owe.

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    sparky64sparky64 Posts: 7,026 ✭✭✭✭✭

    Wrong forum. ;)

    "If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"

    My Washington Quarter Registry set...in progress

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    ReadyFireAimReadyFireAim Posts: 1,803 ✭✭✭✭✭

    @gumby1234 said:
    $986,644 Adjusted for inflation, $50,000 in 1934 is equal to $986,644 in 2021. Annual inflation over this period was 3.49%.

    A really quick estimate if they would have taken that 50K and bought gold bullion in 1934 (not legal at the time)
    About 2.8 million today. :o

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    OverdateOverdate Posts: 6,939 ✭✭✭✭✭

    @ReadyFireAim said:
    A really quick estimate if they would have taken that 50K and bought gold bullion in 1934 (not legal at the time)
    About 2.8 million today. :o

    About the same if they would have bought silver bullion in 1934 (or 1944).

    My Adolph A. Weinman signature :)

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    amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭

    And what if they bought stock in Coca Cola????

    @Overdate said:

    @ReadyFireAim said:
    A really quick estimate if they would have taken that 50K and bought gold bullion in 1934 (not legal at the time)
    About 2.8 million today. :o

    About the same if they would have bought silver bullion in 1934 (or 1944).

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    Mr_SpudMr_Spud Posts: 4,455 ✭✭✭✭✭

    I’m not saying it will happen, but how hard would it be to open the slab and replace all but the top and bottom notes with $1 bills and reseal the slab?

    Just wondering

    Mr_Spud

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    JBKJBK Posts: 14,788 ✭✭✭✭✭

    @JMS1223 said:
    I just noticed something. It appears to look like a tear on the first note, between the R and E
    in HUNDRED. I can see it in both photos:

    Seems odd they would straight grade it, but maybe it’s something else and it just looks like a tear.

    Good eye! You should be a grader.

    It seems as if the tear (if that's what it is) was left in the "open" position (I don't know how else to describe it).

    With tears if you open the tear gently and swap upper and lower positions of the paper, the tear is restored to pre-tear position and is much less noticeable. Otherwise, the exposed edge of the tear is exposed and visible.

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    PerryHallPerryHall Posts: 45,444 ✭✭✭✭✭

    @amwldcoin said:
    And what if they bought stock in Coca Cola????

    @Overdate said:

    @ReadyFireAim said:
    A really quick estimate if they would have taken that 50K and bought gold bullion in 1934 (not legal at the time)
    About 2.8 million today. :o

    About the same if they would have bought silver bullion in 1934 (or 1944).

    .....or Enron? ;)

    Worry is the interest you pay on a debt you may not owe.

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    amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭
    edited March 11, 2022 9:55AM

    Pretty sure Enron wasn't around then! I met a guy at summer camp when I was a teenager from a filthy rich family. His Grandmother put her money in Coke stock during the depression!

    @PerryHall said:

    @amwldcoin said:
    And what if they bought stock in Coca Cola????

    @Overdate said:

    @ReadyFireAim said:
    A really quick estimate if they would have taken that 50K and bought gold bullion in 1934 (not legal at the time)
    About 2.8 million today. :o

    About the same if they would have bought silver bullion in 1934 (or 1944).

    .....or Enron? ;)

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    OnastoneOnastone Posts: 3,786 ✭✭✭✭✭

    @JMS1223 Great catch - definitely a tear.

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    CatbertCatbert Posts: 6,605 ✭✭✭✭✭

    How is a tear typically treated for grading notes? From my ignorant perspective, a 64 seems high (but perhaps the other notes drive an average upward).

    "Got a flaming heart, can't get my fill"
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    sparky64sparky64 Posts: 7,026 ✭✭✭✭✭

    They are graded as an overall pack.
    The tear of the top note is documented.

    "If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"

    My Washington Quarter Registry set...in progress

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    alaura22alaura22 Posts: 2,666 ✭✭✭✭✭

    So when does the sealed bag of 1893-s morgans show up?

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    pursuitoflibertypursuitofliberty Posts: 6,596 ✭✭✭✭✭

    Not sure exactly why. Seemed more sensible as 100 individual notes, before they "reassembled" the pack.


    “We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”

    Todd - BHNC #242
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    bestdaybestday Posts: 4,220 ✭✭✭✭

    @JMS1223 said:
    I just noticed something. It appears to look like a tear on the first note, between the R and E
    in HUNDRED. I can see it in both photos:

    Seems odd they would straight grade it, but maybe it’s something else and it just looks like a tear.

    good eye repaired..no longer a 64...for the pack?? 250,000+

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    1northcoin1northcoin Posts: 3,837 ✭✭✭✭✭

    @SiriusBlack said:
    I think my coworker took the photo above, but I do photograph some of the banknotes and did some images of this one too. I have to admit it was pretty neat to see and hold. I get to see, and hold, and photograph a lot of really cool stuff here, and this was definitely high up on my list of awesome.

    What is the significance of the word "Mule" on the PCGS Certification?

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    jonrunsjonruns Posts: 1,196 ✭✭✭✭✭
    edited March 11, 2022 7:13PM

    $500s and $1000s were typically used at the time for bank to bank transactions...there were no electronic transfers in that era...I wouldn't be surprised if this pack came from a bank vault a la Fairmont...very cool!

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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    These notes were, at one time, in a bank-issued paper band, removed and individually graded, cut out of those holders and repackaged in another holder after being replaced in the paper band? And one of the notes is torn? Had one of the "not top tier" grading companies done this, I wonder what the response here would have been...

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