1954 $1,000 Bouey / Rasminsky and much, much more

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Hi,
I am clearing out my mothers residence as she is moving to a nursing home.
Her money box contains between $15,000 & $20,000 in paper money.

The highest face value note is a 1954 $1,000 Bouey/Rasminsky S/N A/K 0185281

Among the older bills there are 6 x 1937 $100 (2 Gordon/Towers 4 Coyne/Towers),
1 X 1935 $50 Osbourne/Towers with a low S/N F04308, 8 X 1937 $50 (6 Gordon/Towers, 2 Coyne/Towers).
Other 1937 1 X $20, 2 X $10, 3 X $5, 2 X $2, 10 X $1... The lower value bills are very creased and wrinkled from use, the higher value ones... not so much.

1954 $100 22 X Beattie/Coyne,   14 X Lawson/Bouey
1954 $50  5 X Beattie/Rasminsky,   1 X Lawson/Bouey,   2 X Beattie/Coyne
Plus some lower denomination 1954 bills

1975   30 X $100  Lawson/Bouey
1978  10 X $100  Lawson/Bouey
1988   53 X $100 Thiessen/Crow
1988   28 X $50   Thiessen/Crow
1988     6 X $50    Bonin/Theissen

Hundreds of what seem to be uncirculated $1 bills, lots of sequences (some very long), lots of Centennnials some with serial#s,  some  1867 1967.

$US Bills
Sequence of 15 $US 1975 $2 C 01689866 A - C 01689880 A
Sequence of 3 $US   1990 $100
2 X $100 US 1988


I would like to know if anything here is likely to be of particular value and welcome any input.
I would also appreciate any advice/recommendations on how to get this valued and, most likely, liquidated.
I live in the Montreal area but would consider getting together with anyone in the Quebec City - Ottawa - Toronto triangle on this.

Thanks,
Diane










 

Diane,

You definately have at least one valuable note there in the 1935 $50 French (F04308).

I would recommend you go out and purchase a Charlton catalogue of Canadian Government Paper Money
before taking the notes to a dealer or accepting offers from anyone on these notes.  The current catalogue
is the 19th Edition 2007.  The next catalogue is due to be released on July 11th and will show price increases
for many of the notes you have.

The next important point is to have the notes properly graded.  You may want to take the notes to
several dealers or consider bringing them to the upciming Torex show in Toronto.  Several reputable
dealers will be at the show and you could shop your notes around for the highest price.

The main thing is to be careful and not rush the sale of these notes in order to maximize your return.
There are many out there who would take advantage of you in this type of situation.

Yout 1935 $50 French note for example is worth anywhere between $1,200 and $20,000+ depending on
the grade / condition of the note.

Good luck and be careful in liquidating your mother's collection.

...Arthur

I agree with Arthur with regards to the 1935 $50 French note... Your best choice for this one will be to find a reputable dealer(s) in your area and get it graded before you decide on your next step. The Charlton catalogue is a must buy to help avoid heartache, and you can likely even get it from your local library.

Once the notes are properly graded you have a multitude of options:

1) Sell them as a lot to a dealer- Olmstead Currency, one of the larger and very well regarded dealers might be a good choice for this.

2) Consign them all to a major auction such as Torex- The downside to this would be the wait time as there are only so many major shows per year.

3) Pick the best/most desirable notes and sell them through the Trading Post on this forum

4) Sell them on Ebay. If you do this, I strongly suggest the use of a PO box so no one learns your home address.

Some other notes...

For the 1954 issue notes, can you see a face in the Queen's hair like this:

http://www.cdnpapermoney.com/English/BoC/1954D.htm

If yes, these are Devil's Face notes and are very popular with most beginning collectors, and as the denomination goes up they become progressively scarcer.

Do any of the notes have an asterisk before the serial number, or an X in the third position of the serial number? This makes them replacement notes and therefore more valuable than regular notes of that issue.

One last thing, some people will pay a premium for consecutive serial numbers, especially if they are from a scarcer prefix.

Good luck and I hope that this helps somewhat.

Regards,

Fenian

Diane,
Sent you a private message. You can e-mail me directly at:

gwfedora@sympatico.ca

Thanks very much for the advice.

My posting generated several messages re the 1935 $50 but I am in no rush to sell.

I will certainly check Charltons to sort the wheat from the chaff before proceeding to grading.
Incidently, are fees usually charged for grading notes and if so what is a reasonable charge? A flat fee or % of value?

Thanks again for your responses. Much appreciated.

Diane

Canada-Banknotes and Fenian offer excellent advice.  You can also trust "Sudzee" as he is well known amongst the collecting community (and he is a very honest collector, dealer and moderator here).

Incidently, are fees usually charged for grading notes and if so what is a reasonable charge? A flat fee or % of value?

Yes fees are involved in having a note graded by a third party.  Unless the notes are in excellent condition (with the exception of the French 1935 $50) the majority of notes do not need to be graded.  Since the 35 is so rare it wouldn't hurt to get it graded at all... But then again.. .it depends on how you want to sell it (or if you prefer to keep it).  If you are selling via a reputable dealer like Don Olmstead-- who's grading is trusted-- then again.. it may be redundant, (he will assign it a grade for no expense to you) so it could result in an unnecessary expense.

The jury is still out about Third Party Grading (TPG) notes.  Check out:
http://www.cdnpapermoney.com/forum/index.php?topic=3785.165 thread and particularly Ottawa's (Reply #176 I believe) as he provides links to the grading companies. 

It wouldn't hurt for you to borrow a Charlton from your library to get a better grasp of what you have.  Generally, you want to scrutinize the serial numbers and signatures.  If any of the 1954 notes have a Devil's face pattern (as Fenian suggests) then you'll likely want to reserve these for sale.  If there is an asterisk before any of the serial numbers...again that is significant.  Otherwise, if the notes are in wrinkled, dirty or well circulated (worn) condition -- esp the higher denominations ($100) with no significant serial number or signature, than you should sell them as a lot (group of notes) on eBay or just cash them in.  Remember that eBay charges several fees including a final value fee which is a percentage of the sale price...so if the notes total a high sale price...the more expensive it is to sell.  Most collectors are looking for notes in exceptinallly good condition  (EF to UNC) for most high denominations ($50, $100, or $1000).  You might also want to offer them to reputable collectors here through the trading post but I would recommend you ask a moderator, or some other member for a reference check, wait for the email money transfer, and then send them out. 

I cannot imagine the US currency having any significant value unless there is a STAR in front of the serial number.  But again, US currency is exceptionally common so its hard to get much on these-- esp if their condition is less than pristine (Uncirculated).  Unless you want to open a US account (or plan to do some travelling) cash them in as soon as you can get a dealer's opinion.

Hope this helps and good luck!