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how to find an insurance value for a Fr# 1941 L* note ? graded & un graded ?

TokerToker Posts: 4
edited January 2, 2024 9:59AM in Buy, Sell & Trade - Currency

These attached notes $2 L00020000* L00019900* both graded and part of a larger 8 note seq set running to L00019800* 1970 1960 1950 1940 L00019300*
are not yet in any books ... not seen on eBay, except for a few priced higher than the 32,000 run out of NY. So clearly over priced & not selling. After 12 years of this addiction, I have sent in my 1st submission. Grew tired of arguing with men & women much more knowledgeable than me, about what I had (smile). I have a 56 note collection of these star notes from the 2017 A series. 9 sets total, in sets of 6 notes to a set. Except the 9th set which has 8 notes. One note from each set has been graded. The set with 8 notes has 2 of the notes graded a 64 & a 65 the other 8, 6 note sets were all graded 66s. I want to trade them much more than sell them, but even to trade them, I need a number. I am ole school and not into this for profit, but the serendipity of finding ...So a fair price, is what I seek in a crowd who took my 1959 s wheat back penny with out a burp. Even followed me for 10 years on eBay, Tools-Money. Lets hear it ? What is a set of six of these notes with one graded 66 worth and based on what ? The 9th set with the 2 graded notes 8 total notes is the better of the sets any guess as to how much more it would value verses the 8 sets of 6 ? And the grand slam how much for all of it ?
My reasoning says the 32,000 run which is selling when nice examples hit some where. These 1941 L*s are only here and there, way over priced and not selling ? I at first thought 160,000 and 32,000 but one fifth is to much or can you even try that kind of math when 32,000 is so low verses 160,000 ?




Honestly had hoped for more ... such is life. I am adding these Beautiful Star notes
to these albums that represent my time capsule. And in time the books will have an amount entered.
There are none available except a few at crazy high prices. So I will put these up and review in 5 years.



Who else sees the Buffalo, sitting on the mound, looking done that long road ?
This gem, 68 has 3 that have graded higher. Back back into the Albums and back for me to my favorite hobby.

Comments

  • Ted 1Ted 1 Posts: 801 ✭✭✭✭

    $60. Tops

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  • Thank you, and while I am not sure if your saying a note, or a set of 6 with one graded ?
    That is the thing about verbs.
    Again thanks for speaking. I have only seen a few on bay and for prices that exceed the 32,000 note run. I can only assume they were grabbed and are being held. There is only 160,000 of them. Or has it all went south and they never released the ones they claim they printed ?
    After years of this it is clear that something is a last, a miss or you could buy them now, on all the platforms.

  • Serial_no_8Serial_no_8 Posts: 414 ✭✭✭

    @Ted 1 said:
    $60. Tops

    +1
    When large runs are caught (like your 54 notes), it doesn't really matter what people ask on eBay. That really depresses the appeal for that star note run. The # issued become moot (so many were caught in UNC). I think @Ted 1 means $60/ungraded note but I could be wrong. Perhaps $20 more for the graded example?

    If the figure is for insurance purposes - the estimated value doesn't have to be "dead on" accurate but more a conservative figure of what it would cost to replace the sets.

  • Thank you, with you, as well as Ted, you guys sound like its a common known thing. I feel like a dummy. You guys have a language that leaves me saying huh ?
    You say large run and refer to 54 notes of which I have 150 or so of in the 160,000 range and another 50 plus above that run. So is it my 54 notes or the L*s them self you reference as being a large run ? The # issued becomes mute because so many were caught in un circulation. I freely confess this well understood truth you speak of here is over my head.
    I am not asking you to break it down for me, in fact you were able to show me it will be best to seal it all back up into the albums and when the Grand kids get it They can work it all out.
    I am filling up a bowl and will relax.
    I thank you and Ted 1 again for your insights. I do not check in here very often so please, don't feel ignored if you reply or comment.

  • Serial_no_8Serial_no_8 Posts: 414 ✭✭✭

    You say large run and refer to 54 notes of which I have 150 or so of in the 160,000 range and another 50 plus above that run.

    I wrote "when large runs are caught" This may or may not be the case. Perhaps they're more than $60 (per note)? I cannot say for sure. I just thought when it comes to insurance, an estimate usually suffices. And I would use an estimate of what I paid for the note (or conservatively what others have paid). I think that was what Ted provided.

    When it comes to "caught replacements:"
    In Canada, we had the Modified $1.00 *A/M replacement which had a total run of 8,000 notes which was sold super cheaply. I remember asking a dealer what was up with that ("why such cheap scarce note?") & his answer was similar to what I wrote (many collectors happened to catch/save that particular *A/M replacement & in UNC sequential runs). The Book Value (BV) has since improved but not by much. In contrast, the *N/Y $1.00 replacement had 80,000 issued. The BV for the *N/Y was about $150 more than the *A/M. When I looked at my catalogue today, the *N/Y was about $300 less then what it used to sell for. Why? Probably b/c the pricing panel saw many consecutive runs of *N/Y appear on the market. These things fluctuate due largely in part to the perception of how common a tough note is.

  • Hi just seen your message. OK and yes that is still way over my head. Not in that you didn't explain it perfectly. I am sure I am missing a gene or related more to Big Foot, than man.
    I am starting to think I am a guy who thinks the one who splits it, must, let the other pick first.
    I am/have come to see the buy and selling of coins & currencies uses those, other rules.
    I am honestly glad collecting has so little to do with the above. I have spent whole nights searching thru monies. The research takes one all over the World and into the most rewarding serendipity laced Awwws. An lets face it, some of the art on this stuff is sur-real.
    The things I just learned from my 1st submission, really took the fun out of the buying or selling side of this crazy hobby.
    Again with sincerity I thank you for your help.

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