1937 Registry cut $20 & 2 digit repeater $50 research

[digitalphear]

Hello!

I've been going through some bills I found in a somewhat mysterious/divine intervention sort of way, and I've actually been paying attention to details...even those as obvious as to what has go to be the worst cut from register (or thats what I assume it is from the research I've done) 1937 $20 note, and a glaringly obvious 1973 $50 note with a...2 digit radar...super repeater...2 digit radar, 2 cycle repeater, megablaster supernova serial number of BH2626262.

The $50 as you can tell from the photos isnt exactly pushing mint, and I honestly have NO idea what to expect form banknote grading, as I proved myself quite incapable of coin grading, but regardless I think it's something I'd like to send in based on that serial number. Same goes for the $20 which you can view as well, and its condition is a fair bit better.

My issue is, I have been searching for HOURS to try to nail down some past sales/auction results or even population stats on either of these seemingly rare variants with absolutely no luck. The best Ive come to find is some different denominations with the radar repeater serial number on Heritage Auctions past sales...but 90% of that is either a different countries currency altogether or like a 1937 $1 bill...none of which I feel would give me a good ballpark on sales results of the $50 regardless of its condition.

Same luck with the $20 error. Nadda.

In fact I have not been able to find one of either bill of the exact same year with the exact same fancy serial or error.

I was hoping maybe someone here could point me in the right direction. Is there a good physical book I could purchase to go down this hole a bit further, or any secret darkweb database of banknote sales records specifically for errors and random serials?

Honestly even if they don't pan out to be worth grading for monetary reasons they both do have some strange personal value to me due to the circumstances I got them in so Ill probably sending them in to PMG regardless if by the end of this week my research yields nothing.

Anyways, any help would be greatly appreciated. Heres the link! (trying to link directly to a shared icloud album so if that doesnt work Ill quit procrastinating and just imgur them)

https://share.icloud.com/photos/0cbROXh ... 9WqR_YYF5g

[Nota_phil]

Welcome to C&C @digitalphear

Your best bet is to go your local library & look at a Charlton Standard Catalogue: Canadian Government Paper Money (CGPM). This is the "bible" for Bank of Canada currency Book Values (BV's) but doesn't necessarily mean you'll get what you want for your note. Many factors can come into play at the end of day. What a note sells for can vary depending on how your note is sold (auction format? at a shop, on eBay) & the global market (economy) plus condition & demand. But the catalogue does provide tables for notes like yours with helpful estimates. The other reason you're struggling to find info is probably since errors & special numbers for the first 2 series (1935/37) are much scarcer than for subsequent series so data (on sales, etc) is much more sketchy.

My old 2019 guide lists 2 digit radars for the 1937 series at $1800 for notes in UNC. However, your 2 digit radar note looks to be about F to VF in grade so that brings your note down to 35-40% of that value (& the 2023 guide likely lists the 1937 $50 radar at $2000). I would estimate it to be around $700 - $800 but hard to say as your note has pretty sketchy looking borders (there could be edge tears, etc) & special number collectors tend to seek high grade AU-UNC notes. The note is likely unoriginal (non EPQ) if there's edge tears so that can also deter a lot of collectors (from bidding).

The cut out of register $20 is even more difficult to estimate since the border of the other note is so minor/slight (& the top of the note has had significant edge wear). The note also appears to be in VF condition but may have been exposed to moisture & the pricing tables are much more vague about errors from older series. $20 Notes with E-7 (out of register printing) sell for a $150 premium above their BV when UNC. Since the note you linked looks VF it would likely sell for $60 (40% of $150) or more than the $50 BV (for VF). That would be a total of $110 but again it is tough to say since errors are very scarce in the first 2 series & there could be a bidding war which could triple that value. Once again, I think it will depend a lot on how you sell these 2 notes (in terms of their final value).

Before you ship your 2 notes off to PMG have you thought about Canada's BCS? If you are in Ontario (or live in the GTA) you could call them up and find out how much it would cost to grade them. They vacuum seal the note and that preserves it too. Here is a link to their site. One thing to keep in mind (however) is that when you certify a note it takes all the guessing out of what the true grade is. Sometimes this works for you & sometimes it works against you. Anyway, here's their link:
https://www.banknotecertification.com/

Here is a link to the CGPM guide:
https://www.charltonpress.com/products/ ... ition-2024
(Many collectors buy theirs used online for a fraction of the price of a new one)

Finally GOOD LUCK in finding your answers & great notes BTW!

[digitalphear]

Thanks for the welcome Nota_Phil! Been lurking since 2020 and finally got around to posting haha!

Thank you so much for the advice and recomendations. Ordered me up a copy of Charltons already so greatly appreciated.

I was really hoping that since I could not find any of the $50 in population reports, or past sales that I had an epically rare Heritage Auction worthy bill, even though I realized the condition was...terrible and I had the subpar signatures on it, but oh well.

I had to look up EPQ as I had no idea what it mean. After learning as many coin grading acronoyms over the past few years Im right back to square one with banknotes and EPQ was a new one. From what I gathered its a PMG term that means the bill wasnt restored/altered to make it look better? I can say with 100% certainty that it isn't...with a caveat which you mentioned in the next paragraph:

Without diving into the story of how I got the bills Ill just say they came from my Grandmother. They were all in really good condition in 2020 (more talking about the other bills then the $50), looked fresh off the printer to my untrained eye. But then in late 2020 (a couple months after I signed up to these forums with the intentions of learning about my new found treasures) my basement at my house where I kept all of my collections got smacked with over 6 feet of water...and afterwards I could only partially recover my coins and bills....

So year, Im not sure if exposure to water etc effects EPG but if it does then that designation is out the window. I know from lots of forum reading regarding bills and coins is to not clean them or expose them to water baths and now my whole collection took a dive. Honestly too scared to go to the coin side of the forums to ask about cleaning up some of the coins that ended up dirty etc from it.

So anyways, GREAT eyes to catch on these bills. I figured that anyone grading it would see it but I havent noticed any specific designations against waterlogged money even if it detracts from the overall grade, my only fear was that the assumption could be made that it was a home restoration/cleaning attempt go awry. lol..sigh..

Anyways, since you have crushed my dreams of that $50 being a rare grail that would net me 6 figures (lol) I think Ill take your advice and skip PMG in favor of the cheaper, more local BCS (I need to check if they recognize fancy serial numbers) since I will just keep the bills for myself for sentimental reasons.

Thanks again sir!

[Nota_phil]

Sorry to hear about your 2020 flood!

I was really hoping that since I could not find any of the $50 in population reports, or past sales that I had an epically rare Heritage Auction worthy bill, even though I realized the condition was...terrible and I had the subpar signatures on it, but oh well.

-Your $50 & $20 are quite tough, bordering on rare. As collectors, we have to shun eBay or HA auctioneer hyperbole & seek conservative perspectives. Consider the term "rare" in the realm of 10 or less (examples existing) to get a better handle on that term. The reason it's better to err on the side of conservative is that the note holds no sentimental value to a dealer/buyer. These 2 notes from your grandmother's estate will have much more value to you.

"Tough" is a better adjective for your 2 notes. The reason your $50 is tough to find is that you won't see many 2 digit radars since so few people collected special # notes like that back then. Yours is the first I have seen & I apologize if I didn't react kinder. The $20 error is also tough but poorly centred notes were quite common on the first 2 series & the less dramatic the error, the less "wow" factor. Like the damage to the borders of both notes, "it is what it is."

You are correct in not trying to clean or process either note but some dealers may differ on that opinion. I still clash online with other dealers/collectors who feel its okay to restore some notes b/c they feel they will profit from that practice. However, most collectors I know avoid processed notes like the plague (unless they are rare pieces). But again, remember "rare" is like 10 or so existing.

Re "EPQ" & "Original"
Exceptional Paper Quality (& PPQ from PCGS, "Original" from BCS) means that the paper is "original" or not impaired by pinholes, glue, stains, tears, etc. For many, it means it hasn't been processed (esp if its AU or UNC without the designation- that means its likely been pressed). However, you have to keep in mind that no EPQ could also mean an edge tear, mold, pen, etc. PMG will "EPQ" autographed US & staple holed Indian notes. PMG also seems to be more liberal in their grading than BCS.

Also, I would never say that your notes are in "terrible" condition. We have to look at the entire note and then give it a fair grade (assessment of its condition). Most of the centre/design of the note is in very nice VF-EF condition but the borders have issues. Their lack of white affects the eye appeal. The borders are what bring the condition down & that was what I meant by the notes losing their "original" (or EPQ) status.

[Nota_phil]

Also: you can seek others opinions on:
https://cdnpapermoney.com/forum/

there are many more knowledgable CDN paper money collectors there.

Once again, great (tough) notes from your grandmother & good luck!