Discussion: What would YOU pay for these errors?

News: Registration is free here at the CPMF!

During my daily searches on eBay I always pass by the same errors and am astounded at the asking prices. These notes keep on auto-renewing over and over again without being sold.

Of course most things are always about supply and demand or how badly somebody really wants it, which got me thinking. Sure, the seller has the right to ask for whatever he deems to be reasonable.... the question is..... what would YOU be willing to pay for errors like these?

The last note is from a private collection rather than eBay but just thought i'd throw it into the discussion since it's an astounding error!

*Note: Please keep discussions within the bounds of the question posed and refrain from any discussions that are direct comments about actual seller.

NUMBER 1

Assume F-VF condition - Seller Asking for $1500

NUMBER 2

Assume EF-AU condition - Seller Asking for $975

NUMBER 3

Assume VF to EF condition - Seller Asking for $16K+

NUMBER 4

AU58 Condition - Seller Asking for $570

NUMBER 5

Assume VF-EF condition - Seller Asking for $999

NUMBER 6

Assume UNC condition - Seller asking for $6000 for all 3

NUMBER 7

Assume VF condition - No asking price

Nice notes !!  Time to refinance the house??     

The seller can ask anything they want I guess. There are lots of people/collectors out there with deep pockets - more money than time to shop/search and someone just might bite.

I think anyone of them is worth several hundreds of dollars but not thousands.

I own the $10 inverted serial number note shown in the first post above. Being a collector of error notes, I probably won't sell it (not in the near future anyway).

I find it interesting that the dealers who have seen the note have offered me (at the low end) $350 to (high end) $850. Yet, I have two fellow collectors (who don't collect errors specifically), who have offered me substantially more for the note (combination of cash and trade) since up to this date this note appears to be unique. I realize there is the possiblity others may show up since it was a misfed sheet but at least three of us find this note to be quite rare.

When I looked at each note, I wrote down what I (as a dealer) would be willing to pay for each note in order to resale for a reasonable profit margin.
In the case of your ten dollar note with the inverted serial numbers, I jotted down $750.00 because I felt that I could resell it between $1000 and $1200
I mainly buy banknotes to resale. I would consider the retail value of your banknote approximately $1000 plus a little more if the right collector came along.
Do you realize that most dealers will only pay about 60% of what they consider to be the retail value? I usually pay 75% of what I believe it will get when sold.

If you are ever interested in selling this banknote, I would take it on consignment and sell. My fee is 10% of selling price but I do all the work and I have all the contacts.

Making a statement that you have all the contacts is a pretty bold one. :-D

I always pass by the same errors and am astounded at the asking prices. These notes keep on auto-renewing over and over again without being sold.

the question is..... what would YOU be willing to pay for errors like these?

Putting all hyperbole aside, here's my answer (if I were interested) in RED below:

NUMBER 1: Misplaced SN (on face instead of back)
E18-ii
F-VF = 30% of $250  or $75.00

Number 2: Multiple Folds
E24-i
EF-AU = 70% of $800 or $560.00

Number 3: Mismatch SN (3 or more)
E15-iii
VF-EF is 50% of $650 *( but 5 out of 6 must command premium- perhaps another $600)  perhaps around $625

Number 4: Offset Printing
E3-ii (25-75%)
AU or 80% of $250 or $200

Number 5:  I believe this to be E3- Offset Printing because the 5 marker "Canada" Laurie image appear to be mirrored (rather than E5 Printing on the wrong side).
E3-iii (75-100%)
VF-EF is 50% of $500 or $250

Number 6: Mismatched Prefix Letters for 3 notes
E14-ii
UNC so that is 3X $800 = $2400 but I would expect to pay about $2000

Number 7: Misplaced Serial Number (inverted on the face)
E18-iii
50% of $500 = $250

I agree with the Wizard and Friedsquid's comments.  The asking price is so "pie in the sky" that is likely we'll be seeing them for a while yet...