This is getting ridiculous!!

News: Registration is free here at the CPMF!

 price:  US $39,999.95  Buy It Now!!

Hmmm,may buy a new car instead.

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That's just over $46,000 Canadiana!!

No comment!!!

I saw this note quite awhile back

It's one of many ridiculously over priced and overgraded notes
This particular listing is in the stratosphere of idiodicy.


Makes you not take this or any of the other listings from his 10 accounts seriously

Wow, $46K could pay off a big wack of my mortgage. Nice number though, I'd prefer if it were 0008000 and if I just won the last big 649 draw too.

Here's the pedigree on that note:

I purchased the note from Louis Chevrier at Torex June 2006 for $200.  It was graded VG.

I then walked over to Don Olmstead's table and sold it for $300.  The current eBay owner of it bought it from
Don Olmstead for less than $500 and immediately put it up on eBay the following week for a ridiculous amount.

The miraculous part about the whole story is that note has been rejuvinated to a current grade of VF.

...Arthur

A "nice" VF at that.
Should sell easily, for a new luxury car price.

Rick

Agreed, This is starting to get out of control.  

I wonder what the listing fees are for that price?  

Here's the pedigree on that note:
 
I purchased the note from Louis Chevrier at Torex June 2006 for $200.  It was graded VG.
 
I then walked over to Don Olmstead's table and sold it for $300.  The current eBay owner of it bought it from
Don Olmstead for less than $500 and immediately put it up on eBay the following week for a ridiculous amount.
 
The miraculous part about the whole story is that note has been rejuvinated to a current grade of VF.

That's interesting to know....

So it has been cleaned...

I notice some traces of pink near the left Serial number 10-11 O'clock above the portrait.  Looks like erased red pen marks.

HMMM some "character" has money to burn with eBay insertion fees...
We all know this kind of crazy eBay activity can't be good for the hobby (in the long run)

Question is:
Can he be reported?

Heres another note. I was told that the seller brought it for $900 and now trying to resell it for $1,737.60 CAN.

If ebay was to take any responsibility for what goes on, they would take this down on account of being actually ridiculous.

I have posted about this before.  
If you put a sell order on a penny stock, but have a limit price of $5 per share, the trading company you deal with will REJECT your offer.

Ebay doesn't police this because if some sucker actually BOUGHT this note, then they would make
heaps of cash.

For that price, one could buy an 1935 Bank of Canada French 25$ UNC, plus the French 10$ and 20$ 1935 notes (UNC obviously). It would be a wayyyyyyyyyyyyyyyy better investment...

For that price, one could buy an 1935 Bank of Canada French 25$ UNC, plus the French 10$ and 20$ 1935 notes (UNC obviously). It would be a wayyyyyyyyyyyyyyyy better investment...

Personally speaking, I'd much prefer a 1935 Bank of Canada $500 note. I'd settle for the commoner English text variety (Cat. $35,000 in Fine) ..... !

There are several "market manipulators" and "market manipulators in training" out there on eBay and they are certainly not good for the hobby, either in the short term or the long term. They have been successful (if that's the right word!) in pushing up prices very rapidly on many attractive and popular, albeit common, earlier notes (e.g., Royal Bank $10 1913 Destroyer, Royal Bank $20 1913 Train, Bank of Nova Scotia $20 1929 Dory, etc.). However, buying activity has stalled in recent months and prices on eBay for better material seem to be in decline. This is exactly what happened after the billionaire Hunt Brothers tried to manipulate the world silver bullion market in the early 1980's. The same thing has happened in other collectibles markets over the years, e.g., postage stamps and hockey cards. We should always remember that famous saying "The bigger they are the harder they fall" ....

From my point of view it's better to have lower market prices than higher market prices. Not so many years ago one could have purchased four or five nice F-VF Royal Bank $10 1913 Destroyer notes for $1000 but now you'll only get one, or maybe two if you're very lucky! Don O. was selling Fines at $150 and Very Fines at $360 in the Millennium 2000 "Bank Note Event" catalogue prepared by Perth Numismatics and himself.  Other notes on offer in that classic catalogue were a superb EF Bank of Nova Scotia $20 1929 (the best D.O. had ever seen) for $575 and a superb EF Bank of Montreal $100 1931 at $790.00. Are we really better off today with eBay asking prices 5 to 10 times higher?? I think not. Supply & demand is one factor of course, but ludicrously-high prices plucked out of nowhere are quite another.

If ebay was to take any responsibility for what goes on, they would take this down on account of being actually ridiculous.

I have posted about this before.  
If you put a sell order on a penny stock, but have a limit price of $5 per share, the trading company you deal with will REJECT your offer

Uhhh,just a clarification Hudson.I know of No dealer that will not accept such an order.Perhaps an on-line house will reject it,but if you're a player you would never use a broker or on line house exclusively,but both for reasons that would take up a whole page to explain.
I can have any order put out at any price at any time that will NEVER be cancelled.

PS-Thanks for a great transaction.Notes are superb!

Thanks for the update on the notes

What I meant by the order thing:

I had a fractional penny stock, but it was VERY volatile (as most are).   I put in a sell order at $5.00 per share, and the current stock price was about 1 or 1.5 cents per share.
It was an on-line brokerage firm though like you mention.  Oh believe me, there is ALOT I donot know about in how that system works.