1954 $2 E/R Test note

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There exist one of these. Anyone have any info. on this rare test note? Anyhow it will be covered in the charlton 19th edition.

Check your Dec. 2005 issue of the CPMS Newsletter - the information is all there.

Check your Dec. 2005 issue of the CPMS Newsletter - the information is all there.

Unfortunately i am not a member of CPMS so i don't receive their newsletters. I think i should subscribe as i seem to miss out important info.

Basicly for E/R im am just interested to know what the serial number range(s) are, how many exist and what would be the pottential selling price for such note(s).
Thank you

I would love to see that note... If anyone gets it, make sure to show me.  

Or you could join the CPMS and order the back issue.  

Does anyone know the nature of the $2 E/R test?  The serial range?  How many known?  Is there a scan available anywhere??   Any way I could obtain an image???   Thanks to all.
                                  bernard_schaaf@hotmail.com

You could join the CPMS and check your back issues, or you could check the Charlton guide.

It says in the charlton only E/R notes with numbers 3744001-3872000 being 127,999 notes Arthur

It says in the charlton only E/R notes with numbers 3744001-3872000 being 127,999 notes Arthur

And i believe only one is known at present.

I was going to say that but thats only what I have read somewhere and I was not 100% sure thanks J-B2006 Any idea on a price if one were to surface?      Arthur

I would think the price would be comparable with the G/R test note

It says in the charlton only E/R notes with numbers 3744001-3872000 being 127,999 notes Arthur

Subtracting the serial numbers never produces the correct number of notes in the range - you always have to add one.  There were exactly 128,000:  4,000 sheets printed 32/on.

Why is it so hard to obtain certain test notes? Do they destroy them? But all the $2 S/R and RS are still widely available and as well as the AXA and EXA test notes.  But unfortunately the G/R, E/R $2 and RS, 3300 $5 are extremely rare and very pricy.

Why is it so hard to obtain certain test notes? Do they destroy them?

Yes.  When a test note is determined to be non-reissuable (worn) it is segregated and returned to the Currency division where the data is collected on the note's lifespan in circulation and then like all other worn notes are destroyed.

But all the $2 S/R and RS are still widely available and as well as the AXA and EXA test notes.

The $2 S/R's make a interesting case study for the phenomena of value based upon supply & demand vs numbers printed.  
There were 2.3 million Beattie Rasminsky S/R notes printed, but only 360,000 Bouey Rasminsky and 240,000 Lawson Bouey S/R notes printed.  When the initial run of Beattie Rasminsky Notes were released, they followed in the normal sequence of the R series (P/R, R/R, S/R, T/R) and only astute collectors may have noticed it was a short run without knowing why.  When the Bouey Rasminsky S/R notes were released the regular run had progressed all the way through the U series and on to the early G series when these S/R notes made their appearance sticking out somewhat like a sore thumb to collectors, and similarly when the Lawson Bouey S/R's showed up later.  The result was that collectors stashed away relatively more Bouey Rasminsky and Lawson Bouey S/R in upper grades than the Beattie Rasminsky S/R notes.  As an aside I noticed by observing the Beattie Rasminsky S/R population seen at shows and on eBay it is less common to see notes with serial number <2000000 in top grades, while the majority of the top grade Beattie Rasminsky S/R's are between 2000000 and 2300000.   Although prices in the Charlton catalogue have over the years trended upwards. the Beattie Rasminsky S/R notes were priced at $1900 in Unc in the 12th and 13th edition before drifting down to the current $1000 in the 19th edition.  This was likely due to the appearance on the market of some notes that had been put away.    

So the point I am trying to make in this discussion is that the G/R E/R and 3300 tests were not detected so readily by the collecting public and less of these notes were stashed away in any grade.

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that is quite true about the S/R availability. I dont often see beattie-Rasminsky S/Rs available for sale. The only one i was able to get was in VF condition at about $150. But i had no trouble finding an S/R Bouey-Rasminsky, i found one in UNC condition or very very close to UNC say AU+. If i recall i think i even got it at $500. Supposedly the demand for S/R notes in general are  on the decrease.

Eyevet's comments regarding collectors' learning curve re: tests, and their numbers in UNC make perfect sense.  The 79 numbering system threw everyone off, and hence the replacements and tests were all quite difficult to find, and now steep in BV.

Supposedly the demand for S/R notes in general are  on the decrease.

This is really surprising considering that test notes are a thing of the past.  I have seen few to none at the last 2 shows here in Ontario.  I saw a RS and 330 $5 in F to VF at the Niagara show. Very high priced with no buyers the first day (perhaps someone did snap it up).  

The lower grades seem to be commanding high prices too.  Most sellers seem to be ahead of the book in the prices they're looking for.

I think these things go in cycles.  Right now everyone is more aware of the G/R (and $5) rarity, so there seems to be a lot of focus on those notes.  I recall seeing many test notes on ebay in 2004 but haven't seen many the past year.  At the Paris show it was hard to get a decent replacement (let alone a test note).  I think the lack of supply will increase the demand (so we might see the BV increase too).

Now that we know there's another E/R test note out there it will be interesting to see if there's a few discoveries.  I found a G/R (not a test-- wrong number range) but a nice find nevertheless in a bundle of ratty $2's in Paris.  Cost me $3 in F.  I think if we keep a vigil out for these notes there may be some happy discoveries yet to come!

Thats a really good price for that G/R note. I think it books at $40 now in F. Could anyone tell me why G/R notes have become very pricy these days? I mean it appears that they were almost a full run with of course the exception of a few very small ranges of G/R test issue.


I think there is an even higher demand today for those very rare test notes like the G/R, E/R, RS $5 and 3300 $5 because the availablity of these notes are so slim. But as for the $2 S/Rs its obvious that there has been a decrease in demand because  the prices of these notes alone have fallen a bit over the last 10 years.
Wish the prices for the RS $5 and 3300 can fall!

But as for the $2 S/Rs its obvious that there has been a decrease in demand

Or just more discoveries being made? I got a beattie ras S/R from an amerian guy who didn't have any idea what it was. Not in such high grade though.

why G/R notes have become very pricy these days?

That's a good question, and one I've always wondered myself.  I almost wonder if its just the attention the prefix has had.  But if that's the case than it may be documented as a short or scarce prefix. I have to admit that I seldom see the prefix auctioned on eBay (esp in good condition).
  
The many interruptions in its issue may suggest that it was released in incomplete ranges.  That would suggest that the numbers (reported by BOC) don't reflect how many notes were released (like the real test notes).  Often Real Test Notes were released in ranges not recorded in Charlton (eg R/S of 74 $2).  Perhaps a similar phenomenon occurred with the regular G/R prefix.  Or maybe they were actively culled like the test note (or as the "untreated normal lot" of notes)  

Eyevet?  Anyone have any info on this?