Interesting Currency from a Collection Buy
MJ1927
Posts: 157 ✭✭✭
I bought a rather large collection last month and amongst the coins were a number of US and foreign banknotes (some of which I still have for sale on the WTS wink wink). Anyways, amongst the notes I decided to keep was this $10 bill from the Bank of Hanover. I am aware that local banks issued their own currency, but have no idea if anything I have is of value, if the condition would be considered poor, average, good etc. I took a look at Heritage and found a few examples of this note but with a red seal - does the blue seal have any importance? Obviously any help with a rough valuation would be great but I am not looking to sell! Additionally, as I am not a collector of notes, what's the best way of storing these? Currently it is in a Ziplock bag but that seems to be an insult to such a nice looking bill!
Thanks in advance, MJ
Comments
Awesome note! I do not know anything about this particular bank charter, and values will depend strongly on that, but in general: That note is in entirely satisfactory condition. National Bank collectors cannot usually be very picky about condition, as for a particular bank there are often not too many notes so you can't be too picky or you will never get one. This note is probably nicer condition than half of the large size Nationals that I have. Blue seals are usually worth less than red seals. The red color did not last so the red color was dropped and replaced with blue.
You want to store it in a Mylar holder. I buy mine from Tom Denly, the large size ones will fit this note perfectly. There are other sellers of these holders but Mylar is what you want.
Thank you for the informative response I appreciate it! I took a look at Denly's and the minimum order is 50 which would be way more than I need - if anyone has 1/2 that they would be willing to sell to me, I can get this note in a safe home! The collection also came with this alongside the note, I'm guessing there might have been a Bank of Hanover teller in the family somewhere down the line:
Cool National. When I checked past sales of Charter #187 on Heritage, I saw very few notes. One large size and a handful of small size. Someone with Track & Price could give more detailed sale information about the charter, and I’m suspicious it might be an uncommon find. The large “E” (for East) overprinted on the face helped with the sorting of redeemed notes. As far as grade goes, I’ve narrowed it down to borderline F15 and VF20. It might go either way. Grade is not as important for desirable Nationals. Just finding an example can sometimes take a while.
Looks like I need to do a lot of reading up on "charters" etc as I am definitely out of my depth with this note. I know that both PCGS and PMG offer reputable currency grading services, and the information provided to me thus far makes it seem like it might be worth sending in for submission? The top left corner is bent, would this be something these grading services would flatten in a holder, is that something I should try before sending in?
-No. Definitely not! Please don't mess with your note. If you decide to grade it - your flattening it will only arouse suspicion that it has been pressed (you will likely lose any chance of EPQ if it does reach VF20/25) & you don't want that. Personally, I wouldn't submit it as I might suspect it was trimmed (but I'm only going by the images- I'd need to inspect it). I also know that many collectors prefer their uncertified notes & once it is given a number any speculation that its in better shape will evaporate (so if I were intent to sell, I would definitely not grade/if I wanted to keep - I may think about grading it). I'm sorry if that isn't a more clear cut answer but I find your note in the "iffy" zone due to condition but I have 0 knowledge of Nationals & if they're as hot as everybody goes on well then.....
In the meantime, place it in a good currency sleeve (no light & in a dry place/no basements). (BTW: great/problem-free looking note)!
I would give Allen's of Ohio for Large currency sleeves a shot if you want to buy less than a pack of 50 sleeves. I've dealt with them & they've always been great.
**https://sites.google.com/view/notaphilycculture/collecting-banknotes **
The top left corner is bent, would this be something these grading services would flatten in a holder, is that something I should try before sending in?
Unfolding corners should be a note-by-note decision. I probably wouldn’t mess with a 200-300 year old Colonial note or any Obsolete with brittle or thin paper, but I would have no problem at all by gently using my fingers to unfold the corner on the OP’s note. I would consider grading your note if you plan on selling it in the near future. Buyer like the insurance of verified authentication and the fact that grading companies will point out problems like repairs and pinholes. If you can’t find a single large size sleeve, shoot me a PM and I’ll send you one.
The last Kelly book that I have shows 14 known and a price of $250. I think that might be high in today's market.
Thank you for all of the helpful information everyone, I think I like the artwork on it too much to sell, and maybe it will spur me to dive deeper into the currency side of this hobby!
The currency can be addictive.
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Just a quick shoutout to @Steve_in_Tampa who so kindly sent me a couple of sleeves to protect this note from the grimy hands of this currency collecting novice, thank you, you're a credit to the forum!
Nationals can be very addicting!!!!
Especially when your hometown has 20 different banks!!!!
I must be nuts!