$1000 Bill

News: Welcome to the Canadian Paper Money Forum.

I have had this bill for some time and decided to find out if its worth more than face value before I take it to the bank.
I have read a few other posts about these $1000 bills but couldnt make out the signatures on this one.

Any help would be grateful as I dont want to turn it over to the bank if its worth more than I think.

Serial AK 1993767
I posted an image but it looks a little grainy

Thanks,

Last picture didnt work, so hopefully this one does


{http://img402.imageshack.us/img402/6465/1000ha.jpg:http://img402.imageshack.us/img402/6465/1000ha.th.jpg}

The note is the last of the 1954 modified $1000 varieties BC44e.
They were released in the early 1990's just before the Birds $1000.  It looks to be in VF condition and could fetch $1050-$1100 to an interested buyer.

Hope that helps,
Dean

If you can, keep it. It's pretty rare and will be more in the future... but, don't know about the value in the future.

If you can, keep it. It's pretty rare and will be more in the future... but, don't know about the value in the future.

Which one is it, will it be up or down in the future?

This note will only be worth less in the future and yes even if you pull out the face value in the future this will add up to a loss. Since you have lost the value of inflation for every year you have kept this note for take a picture, return the note to the bank and stop losing money.

Regards,
MG

Totally agree with MG.  Inflation eats away at value.  Even if this note is worth $1,600 in 10 years, your gains are wiped out and more if it takes $2,000 to buy what $1,100 buys today.

take a picture, return the note to the bank and stop losing money.

OR
use it to buy a Gem UNC 2003 BC-63c $10 Jenkins/Dodge BEL (that's where I'd put it if I didn't need a new tv ) 

Thanks everyone for the quick replies.
My wife cashed it in at the bank today, the teller was a little surprised to see it.

A little sad to let it go just because of the "Neat" factor but really a $1000 now can do a lot more than a $1000 in 10 years can if it isn't really that collectible or won't go up in value that much.

RESP or RRSP is always a good way to generate more value for money of little collector value that is a gift or found. Too bad it's a bit late for this tax season...

"Take it to the bank" is never great advice.  Dean is right - these sell on Kijiji very quickly for $1050 to $1100.

"Take it to the bank" is never great advice.  Dean is right - these sell on Kijiji very quickly for $1050 to $1100.

I agree should have tried to sell it and buy you and your wife a nice lobster dinner for the profits

I also agree with the comments above about selling the note.  You could easily sold it for $1,025+ or more.  An instant 2.5% vs... 1.25% for the entire year in some high interest savings account.

I am not sure where we get inflation values from but $1100 today at 3% inflation (which is much higher than real inflation today) will cost $1350 10 years from today and not $1600.

If you purely look at it from an investment perspective I would like someone to recommend me a banknote that I can purchase today that will give me 7% per annum compounded  total return for the next 10 years. I am willing to lay a firiendly wager that if the note increases in value by more than 7% the person who recommends it to me keeps the excess but if it makes less than 7% they pay me the shortfall.

Surely if I can find a radar or a solid or a low serial number note in circulation or through a brick search I can instantly make the money but if I purchase it at the going rate my return in future years will not meet my expectations. For example if I purchased a $5 replacement at $25 today to meet my objectives it would have to sell at $49 in 10 years for me to realize a 7% return. Have replacements bought at fair market value in 2003 doubled in price today. If this was the case similar replacements (in terms of rarity) from 2001 would be selling at twice the price of replacements from 2012. The reality is that they are selling at about the same price e.g. $5 journey notes from 2003 v/s $5 journey notes from 2010 with similar print volumes are about the same price in Charlton.

IMHO there is no intrinsic dollar value in banknote collection other than face value and therefore future values can only be predictated by the vagaries of market place. At best any investment in banknotes would be considered a high risk investment and therefore speculative.

IMHO the only people who consistently make money in selling collectibles are those that make a business out of it, those that make supplies for collectibles and those that inherit or get lucky and run into the collectibles at below market prices.

The rest of us who may not make money can at least strive to enjoy what we collect. Once in a while we may get lucky and hit a jackpot but only if there is someone else willing to buy from us because they want to enjoy what we might have.





 

Selling high denomination notes at slightly above face value is:
- inherently risky;
- a hassle.
Just my opinion.  Anyone that wants to do it, have at 'er.

I am not sure where we get inflation values from but $1100 today at 3% inflation (which is much higher than real inflation today) will cost $1350 10 years from today and not $1600.

This isn’t correct and the value would be $1,478.31

If you purely look at it from an investment perspective I would like someone to recommend me a banknote that I can purchase today that will give me 7% per annum compounded  total return for the next 10 years. I am willing to lay a firiendly wager that if the note increases in value by more than 7% the person who recommends it to me keeps the excess but if it makes less than 7% they pay me the shortfall.

Are you only interested in a gross return of 7%? Or a net return after inflation of 7%? This is a common mistake made by many which would explain mosts disappointing investment gains over time.

Surely if I can find a radar or a solid or a low serial number note in circulation or through a brick search I can instantly make the money but if I purchase it at the going rate my return in future years will not meet my expectations. For example if I purchased a $5 replacement at $25 today to meet my objectives it would have to sell at $49 in 10 years for me to realize a 7% return. Have replacements bought at fair market value in 2003 doubled in price today. If this was the case similar replacements (in terms of rarity) from 2001 would be selling at twice the price of replacements from 2012. The reality is that they are selling at about the same price e.g. $5 journey notes from 2003 v/s $5 journey notes from 2010 with similar print volumes are about the same price in Charlton.

Since you forgot to use inflation in your calculations your gain at 7% minus inflation would be much lower than you would think. If you were lucky enough to get 7% per year minus inflation you would end up with $38.42, which is a huge difference, especially if you start adding digits. As for values doubling over the past 10 years and finding notes that can grow at 7% per year, they do exist and are around to those that look for them. Keep in mind that the Charlton catalogue is more wrong than right and until this changes their will be tons of missed priced notes but unless you take the time to do your homework one will assume the values represented in the catalogue to be right. I find in interesting that true collectors do not want to make returns on their bank notes since such act seems to instantly make then speculators. Although I have only heard people say that they buy their collections for the pure joy of collecting, I can say after hundreds of transitions I have never bought from such collectors but I’m still looking for them as posts on the forum alludes to their existence.

IMHO there is no intrinsic dollar value in banknote collection other than face value and therefore future values can only be predictated by the vagaries of market place. At best any investment in banknotes would be considered a high risk investment and therefore speculative.

As an example, a high-risk investment is someone that buys a house and leverages his or her investment by 20 to 1 (5% down/95% Debt), as a 10% drop would be a 200% loss. A bank note cannot go to zero, only face value. Calling it high risk and speculative is a little exaggerated. People’s emotions are what truly make things risky.

IMHO the only people who consistently make money in selling collectibles are those that make a business out of it, those that make supplies for collectibles and those that inherit or get lucky and run into the collectibles at below market prices.

The rest of us who may not make money can at least strive to enjoy what we collect. Once in a while we may get lucky and hit a jackpot but only if there is someone else willing to buy from us because they want to enjoy what we might have.

Are you implying that ones that make money aren’t able to enjoy their collections? Perhaps they can enjoy it so much more since they get much more bang for their buck 

Regards,
MG