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Good deal or have I been stupid?

I am a COIN collector.... I know only the basics when it comes to paper money. But today I was walking through a local store and saw a 1950-D Ten Dollar bill.... Written above "Ten Dollars" is the mistake, "Will pay to buyer on demand."

Vague memories itch about some federal reserve note that was printed with this mistake. So when he offered to sell it to me for 12 dollars I figured it was worth the risk....... He was an elderly gemtleman and I think he was just adding 20 percent on to the bill because he did not have a clue what it was worth either.

So who here knows about paper?
Alexandria Collection

It is better to dwell in the corner of the housetop, than with a brawling woman and in a wide house. - Proverbs 25:24

Comments

  • There's a currency forum... near the bottom.
    ~Richard Dorrance
  • airplanenutairplanenut Posts: 22,141 ✭✭✭✭✭
    Will Pay to the Bearer on Demand? That's how currency was made... no error
    JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
  • vaguely I did not think it went on the 50-d...... But like I said.... I know little......
    Alexandria Collection

    It is better to dwell in the corner of the housetop, than with a brawling woman and in a wide house. - Proverbs 25:24
  • oh yes.... just saw the currency forum.... thanks guys...... missed it.... image

    Always something with me isn't it?
    Alexandria Collection

    It is better to dwell in the corner of the housetop, than with a brawling woman and in a wide house. - Proverbs 25:24
  • StuartStuart Posts: 9,761 ✭✭✭✭✭
    DrainBamage: The way I'd console you is to look at it like this: For a $2 premium you now have an interesting conversation piece, which has already encouraged you to look up the info on the currency forum, and has taught you more than $2 worth of knowledge...

    It's a bargain if only for the entertainment value that you'll get out of it image

    Stuart

    Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal

    "Luck is what happens when Preparation meets Opportunity"
  • Well a 40 year old piece of paper itself is not that easy to come by..... the 40 years could make the premium for all I know..... still waiting over in currency areas...... they are not too quick...... if I was stupid I would think they would just slam me and go on
    Alexandria Collection

    It is better to dwell in the corner of the housetop, than with a brawling woman and in a wide house. - Proverbs 25:24
  • HOLD UP...... Something smells like fish guys.......

    I have still gotten no response from the group over there in the currency forum..... but I just went on the net and am tracking info on this stupid bill.... I found a few places that were trying to selling them and they wanted 35 dollars.

    This bill is targeted for some reason. But I have not found the story behind it all yet.
    Alexandria Collection

    It is better to dwell in the corner of the housetop, than with a brawling woman and in a wide house. - Proverbs 25:24
  • Here is what I got from the currency forum......

    Well you certainly didn't get hurt too bad.

    Depending on which Fed branch your note is from, Oaks & Schwartz lists them from $45 - $60 in CU condition. (New York is $45 and Dallas is $60 all the others are either $50 or $55) Wouldn't happen to be a star note would it?

    Three cheers and a wombat for me!

    image
    Alexandria Collection

    It is better to dwell in the corner of the housetop, than with a brawling woman and in a wide house. - Proverbs 25:24
  • lordmarcovanlordmarcovan Posts: 43,529 ✭✭✭✭✭
    Yes, but is yours in CU (Crisp Uncirculated) condition? It's unlikely.

    Still, judging from your interest, you like what you found, and there's more than half of what counts.

    PS- for twelve bucks, it's probably hard to lose on a 1950 $10 note, I'm thinkin'- even circulated. I ain't a currency guy but that sounds like a decent bargain to me.

    Explore collections of lordmarcovan on CollecOnline, management, safe-keeping, sharing and valuation solution for art piece and collectibles.
  • BearBear Posts: 18,953 ✭✭✭
    Drainbamaged, it is also possible to get a good deal and still be stupid.

    Happens to me all the time. Good deal and I is still stupid.image
    There once was a place called
    Camelotimage
  • Not an error,but not really stupid either.$12 is a fair price if note is'nt totally worn out.image
    I gave $12 for this'n
  • hookedoncoinshookedoncoins Posts: 1,231 ✭✭✭
    Congrats on your buy. As others have stated, you can't really get hurt paying 2 dollars over face.

    Old bills are interesting to collect. About a year ago, I found a 1928 $10 in circulation (although it is rather worn).

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