Trying to understand value of bank notes

General discussions about canadian banknnotes.
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LisaB
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Joined: Thu Aug 11, 2022 8:31 pm

Trying to understand value of bank notes

Post by LisaB » Wed Sep 07, 2022 8:14 pm

I am new here and just trying to understand how to determine the value of my $1 and $2 uncirculated bills. For instance, a 1986 $2 uncirculated bill EGK5719696 is worth what?
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dbcoins
Posts: 44
Joined: Mon Feb 23, 2015 3:02 pm

Re: Trying to understand value of bank notes

Post by dbcoins » Thu Sep 08, 2022 8:06 am

Assuming your note is Thiessen-Crow signatures & uncirculated, then yes you are in the right price value column.
If you go to the same banknotes tab on this website, you will find a "grading" section that will help you determine the grade of your note. Uncirculated in itself has many grade levels as you can see. And of course prefixes & serial numbers can also greatly effect value. Assuming your note in basic UNC 60 (any note under 60 points is not uncirculated) it is worth the $7.00 you see & goes up from there depending how pristine it is. The 3 letter prefix & serial number are common on your $2 note.
If you are interested in collecting, might I suggest you purchase the latest copy of the Charlton Standard Catalogue of Canadian Government Paper Money. This is a fountain of information that will greatly help you & educate you on collecting banknotes. In the hobby, we always say "Buy the book first, buy the banknote second"
Hope this helps....

Nota_phil
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Joined: Mon Jun 27, 2022 10:04 am
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Re: Trying to understand value of bank notes

Post by Nota_phil » Tue Sep 13, 2022 12:00 pm

I agree with @dbcoins. Your best bet is to find a Charlton catalogue or do an eBay search to see what your EGK $2.00 would sell for. Many of the prices I see on CoinsandCanada's tables seem overly optimistic. It is possible that the pricing is for TPG (Third Party Graded) notes like PMG or BCS as well (but unlikely for ungraded currency). The last $2 were hoarded much like the last 1973 Crow-Bouey $1.00. Dealers, collectors & your avg Joe saved bundles in UNC (that's stacks of 100) and they printed/issued them in the near billions.
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momomomo
Posts: 163
Joined: Sun Dec 20, 2009 4:59 pm

Re: Trying to understand value of bank notes

Post by momomomo » Tue Sep 13, 2022 6:10 pm

Hello! :Étudiant:

Price Guide are references and you will find these prices if you buy from local coins and banknotes shops. Auctions/online sold items is the way to go if you are looking to sell. https://www.coinsandcanada.com/banknote ... ctions.php

momomomo
Posts: 163
Joined: Sun Dec 20, 2009 4:59 pm

Re: Trying to understand value of bank notes

Post by momomomo » Tue Sep 13, 2022 6:11 pm

Hello! :Étudiant:

Price Guide are references and you will find these prices if you buy from local coins and banknotes shops. Auctions/online sold items is the way to go if you are looking to sell. https://www.coinsandcanada.com/banknote ... ctions.php

Nota_phil
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Joined: Mon Jun 27, 2022 10:04 am
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Re: Trying to understand value of bank notes

Post by Nota_phil » Sat Sep 24, 2022 9:16 am

One of the best ways to understand the value of any particular banknote is to first learn how to grade. Get the Charlton guide which has a section on grading (or go online to see the 3 levels of UNC, AU, EF, VF, F, VG & G). Take out a bundle (100) from the bank (unless you have one kicking about) and grade out loud what each note is. The goal is to be critical & assess the smallest faults. If you have a buddy who collects then do it with him (or her). They will keep you honest. (Practice makes perfect) Ask for some new (UNC) notes from your bank & inspect these. Now ask yourself would you pay a $2.00 - $5.00 premium on this note (just b/c it is in pristine condition) knowing 10,000,000 have been printed? I'm sure most of you will say "no," but that's what most catalogues do (put a small premium on the best GEM UNC notes).

The next thing you may wish to do is to look for the uncommon prefixes (less than 10M) which I have listed in this thread: viewtopic.php?f=5&t=8947 Remember to go for the smallest change-overs & short (often last) prefixes! Collect special serial numbers (low #, repeaters or radars).

Next, think outside the box (or outside Canada). Remember that there are World collectors & imagine what bank series he/she might desire. I have read somewhere that coin collectors from the US outnumber CDN collectors 10 to 1. I'm pretty sure American currency collectors vastly outnumber Canadian currency collectors. That is why their Treasury notes that were never meant for circulation can reach millions. They also like high denominations ($500, $1000 & $5000 notes) & pay top dollar for errors. They highly prize well-centred notes. Remember that DEMAND can often outstrip supply & drive prices up.

Anyway, I bring this up because I wanted to buy some 1935 series about 10 years ago & discovered that 2/3 of the notes on eBay were being sold by US collectors (which were listed in USD) making most 1935 series notes about 30% more than Charlton BV. I then noticed that they weren't quite as mad about the 1937's but they also sold a lot of UNC Devil's Face notes.

When starting out to collect it is easy to fall in the trap of thinking what is rare = what is expensive. But this is not always the case. "DEMAND" on the collector market also comes into play. Demand will fluctuate like the strength of our economy so keep this in mind when trying to put together a collection too (& try to figure out when demand will be low for your target banknotes/coin & then pull the trigger to add to your collection).

Good luck & have fun!
Join the journey: check out Notaphilyc Culture:
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