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grade this $20 national note from santa ana

stevebensteveben Posts: 4,596 ✭✭✭✭✭
in U.S. & World Currency Forum

i think these are common. i don't collect currency, but someone gave me this a long time ago. grade it for me and tell me what the problems are with it so i can learn something new. also, tell what (if anything) it has going for it as far as condition is concerned.

my thoughts are that it doesn't appear to have been washed...there aren't any holes or tears...it looks like a f to vf to me. is that ink, or paper rot, or just detritus on the note (same color as seal)?

thanks!


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    goldengolden Posts: 9,063 ✭✭✭✭✭

    Paper clip rust. This is what I call a VG. note. Dealers and slab companies would call it F-VF.

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    numbersmannumbersman Posts: 1,039 ✭✭✭✭

    Yes,indeed this is an abundant note,but,very cool just the same.Grade-wise, you're on the mark...I would give it a strong fine to a low-end vf but a third party grading company (and most experienced buyers) most likely will net grade it down due to the unfortunate abundance of rust.I am a collector/dealer that doesn't really look for common California nationals but there's certainly many who do-it is a desirable note but not worth a fortune as some California nationals can be.T&P shows 108 small size for this bank and 54 of them are type 1 $20s (like yours).Hope I was helpful.

    Collector of numeral seals.That's the 1928 and 1928A series of FRNs with a number rather than a letter in the district seal. Owner/operator of Bottom Line Currency
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    stevebensteveben Posts: 4,596 ✭✭✭✭✭

    @golden said:
    Paper clip rust. This is what I call a VG. note. Dealers and slab companies would call it F-VF.

    i never would have thought of that, but i see it now!

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    TookybanditTookybandit Posts: 3,411 ✭✭✭✭
    edited September 29, 2017 6:50PM

    I always love seeing an Orange County national!
    Yes, TPG grade would be VF w/ comments rust.

    Thanks for sharing :)

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    291fifth291fifth Posts: 23,943 ✭✭✭✭✭

    It's not at all unusual for notes of that era to have rust marks and more wear evident on the back than on the front. I agree with the grade of F-VF by wear but would knock it down to VG price wise. As with all National Bank Notes, there have to be collectors with money interested in the state, county, city or bank for them to bring good collector prices.

    I recall buying a group lot of National Bank Notes about 20 years ago. I paid about $50 over face for the lot and thought I couldn't possibly lose money. It turned out that they were all from areas that no one cared about at that time and lose money I did! You really have to be an active player in the National Bank Note field in order to do well. If you are not an active player ... beware!

    All glory is fleeting.
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    logger7logger7 Posts: 8,084 ✭✭✭✭✭

    I agree with the others here, real experts. Fine with serious rust, if it were a coin it would be damaged.

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