GPM25 / 2013 Edition - Pricing Error??

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In comparing the values for a 1954 Devil's Face $100 note, I see the following values.  Have the mid-grade values for these notes taken a major dive over the past few years?  It doesn't make sense that the lowest and highest grades only suffered minor losses while an AU Beattie-Coyne has plummeted from $1,650 to $650 and an EF Coyne-Towers dropped from $600 to $250!!


                                              VG    F      VF     EF      AU     UNC    CHUNC   GUNC
GPM 22nd Edition, Coyne Towers  140   180   300   600   1150   1350   1350      1600
GPM 25th Edition, Coyne Towers   120   135   175   250     450      900  1100     1500


                                               VG    F      VF     EF      AU     UNC    CHUNC   GUNC
GPM 22nd Edition, Beattie-Coyne  145   200   375   750   1650   1900   1900     2300
GPM 25th Edition, Beattie-Coyne   135  160   220    300     650   1200   1550     2000

I don't think it's a pricing error but rather a reflection of the relatively higher demand for UNC notes combined with an overall decrease in pricing for the note in all grades.

Of course that's just my personal opinion.

The bulk of the decrease happened from the 22nd to 23rd editions, so the price change is not new.  My opinion is that the 22nd prices are overcooked, but the adjustment is too severe.  In other words, it looks like there's a significant buying opportunity on the $100 Devil's Face notes.  I'd love to buy an AU for $450.  In fact, I'll take 2! 

Don't forget that the $100 face value makes up a large part of the total price of low grade notes.  So a drop from $180 to $135 in Fine represents a decrease of over 50% of the premium above face value.

Finally, don't take anything you read in the catalogue too seriously.  It's very unscientific how prices are derived.

I agree. If you’re patient and savvy you can benefit from the catalogues mis pricing. I just got mine today so I can’t wait to input the values over the next few weeks in my model to compare with past issues. As an example, which deal sounds better to you, $400 for a Journey $5 Ladder radar or $450 for a $100 ladder radar….. 1 of many examples.

MG

...which deal sounds better to you, $400 for a Journey $5 Ladder radar or $450 for a $100 ladder radar….. 1 of many examples.

MG

Of course, the $100 ladder radar sounds like a better deal, but people who collect special numbers tend to prefer smaller denominations.  They are not concerned with the rarity of one denomination versus another, but instead, the rarity of the number, and a ladder radar is rare on any denomination.  Hence parity of value (more or less) across all denominations is reasonable.

One thing novice collectors do ubiquitously is overspend on items they consider underpriced.  Speculative buying has no limits because there's no reference telling buyers what the realistic market value is.  Conversely, when a note is deemed overpriced in the catalogue, there's almost no lower limit to how cheaply it could sell because everyone treats those notes like the plague.  One thing is for sure, though... the catalogue catches up with underpriced notes, and then those notes lose popularity in a hurry.  Anyone still interested in *N/Y notes?