Need some advice

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Hi,Elwoodblues
 Thanks for another good information that you have it here, please keep posting
Cheers
Tommy6301 

All of this has really got me interested in this hobby. I spent the majority of the past few evenings looking at all the variations of the notes throughout the years. Sooo many to collect!!

I still have a box full of coins and about 9 rolls of RCMP quarters to look through as well. My mother was born and raised in Australia and I have a large assortment of old Aussie coins and notes, some decimal and some pre-decimal.

I do have another question regarding the Charlton book I bought. Are the values in the book used by sellers to determine where to set prices ...or do auctions and previously sold items determine what is printed in the book?

In a nut shell;

The Charlton is a guide and the prices published are essentially a median note of the variety sold for at the time of publication. Prices are the collaboration and determined by a pricing panel made up of dealers & collectors. Each one submits their data, and this is then used to establish a price of what is happening in the current market. I believe this source to be a good indication of the true market price for that year, and the best source for educating yourself when buying or selling. Both Dealers and Collectors use the Charlton Guide as a bible.

The auctions will also have an impact on the market value, but be carful when using auctions as a reference. If a note is priced high, it will look really good if you have one, but it never sells. Also if there are two people that really want a note in an auction, they can drive the buy price sky high (fantasy price) when their ego’s get in the way. A rule of thumb I go by is 1st sale is a sale, 2nd sale is a trend, 3rd sale is a market.