How does one price currently found inserts?

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Not knowing much about inserts and somewhat confused, how does one decide on a price for an insert that is recently found and no range(s) have been determined.
For example; a $5, $10, or $20 insert sheet replacement would go for about how much? And a SNR of the same denomination would go for about how much? I know it is hard to determine how many will remain or be found in an UNC condition, but in general ,what prices are we looking at for these types of notes? Any ideas or feedback is appreciated and once again, thanks in advance.

what confuses me is no one ever heard of SNR's until a couple of weeks ago and know there is 20 on the market

Atleast I am not the only confused one

SNR's (R is for "replacement" )  may have been around for a while, but since the rise of collector knowledge on how they are inserted, we have been able to set some sort of gauge for aproximate scarcity.

It "seems likely" that there will be less SNR's found that sheet replacements for any given range, simply by the frequency of finds and the concentration within bricks.

Now that we can determine a difference, different ranges are now commanding different style premiums- because we know that there is a different process, and we believe that thenumbers are alot less (based on what has been found from what I understand).

As replacements have always been, the initial pricing has always been tricky.  Some have shot through the roof, and some have gone down in value.  We don't know which ones will do what though.  

No one knows for sure Calamari mon, I try to email da prediction lady Missy Jane Dixon (National Equirer) and she not know what is an insert, at best she is 50% anyway. Actress Shirley Maclean say she is god, but say she don know me and tells me to consult my inner something, so I think she is just pretending to be god because she don know insert from banana in da ground.

The best thing I do is wait for more info, give it a year or two.

Bob Marley lives because reggae lives...Dei Gratia

PD

No one knows for sure Calamari mon, I try to email da prediction lady Missy Jane Dixon (National Equirer) and she not know what is an insert, at best she is 50% anyway. Actress Shirley Maclean say she is god, but say she don know me and tells me to consult my inner something, so I think she is just pretending to be god because she don know insert from banana in da ground.

The best thing I do is wait for more info, give it a year or two.

Bob Marley lives because reggae lives...Dei Gratia

PD

Me nuh sho dat calamari is de same as squid, Punkys Dad mon.  De calamari is hoctopus, ain it? 

An dat Shirley McLean gyal is bonkers, mon.  She doan nuh know da troof from da lie.  She too fass and facety!

Now me gwan to go n git some jerk chicken, mon.

Doesn`t a "SNR" come from a sheet "So for me there should be no difference in the price". Only because someone says that they only found a SNR in a brick, IS that good enough reason to ask for more money for a SNR .

This has to be made clear.

All notes are printed in sheets of some size.

Sheet replacements are "inserted" when an entire sheet is removed.

Single Note Replacements (SNRs) are "inserted" to replace single notes that have been found unfit to release for whatever reason.   Because it is only a single position being replaced, the "estimated scarcity" could be seen to be approximately 40x as rare as a range of notes that is inserted in full sheets.

Based on the information obtained by many dedicated searchers, the characteristics of SNRs point to a single brick (or two or three...) consecutively that are used to replace any defective note, regardless of what position it lies in on its sheet.

They appear more randomly, and often much more infrequently.  With sheet replacements, you can predict where replacements will be found in every brick in the ream- just from one brick.

With SNRs you cannot.  It is different every time.


Hope this helps.

So lets say that a SNR is inserted into a brick and 1000 notes are used up as replacements. Now more are needed to be replaced because of damaged notes where does the next one(s) come from? the same prefix and next consecutive 1000? and so on
Then just increasing that range of inserts?
Say only 100 of the SNR are used where does the rest of the brick of notes that were to be used for replacements end up if not used? Shoved into another prefix?
So are a specific serial numbers printed specifically designed to be used as a replacement notes and nothing else?

Me nuh sho dat calamari is de same as squid, Punkys Dad mon.  De calamari is hoctopus, ain it? 

Gud Mornin Punky's Dad mon. All is irie. Sumody tell mi sey yuh dida talk bout mi? Ya No See It?
I is Friedsquid mon or da Calamari is fine. No octopus tho,
I say to him galang bout yuh business. No time to argu. Remember ..
“the higher the monkey climbs the more him expose”
More time.
FRIEDSQUID

THE FULL MEAL DEAL IN REGARDS TO REPLACEMENT NOTES IN THE JOURNEY SERIES

What we have seen is that eventually they do use up all the notes and then the grab another "Random Brick" to be used SOLELY for Replacements. Again there have been a  few times they did set 2 or 3 bricks in sequence aside.... This is still a Far Cry from a total of 40 Bricks set aside that are used in replacing sheets (40 Notes per sheet and 1000 sheets... This is an entire ream.... Thus our typical Sheet Replacement range = 40,000 Notes).

Here is how it this all works (Sheet vs Single Note Replacements)....

Preliminary Details:
------------------------
We have a Brick (ABC 3321000 - 3321999) being used for Single Note Replacements (SNR).
We have Ream (ABC 3325000 - 3365000) being used for Sheet Replacements.
You get a Brick from the bank (For this example we will say AOM 5432000 - 5432999)

DEFINITIONS:
---------------------
1 Sheet of notes = 40 Notes
1 Ream of notes = 1000 Sheets (40,000 Notes)
1 Brick of Notes = 1000 Notes (A Ream when cut will yield 40 Bricks in Sequence)

So lets say in these examples the brick (AOM 5432000) the 206 and 207 Notes have been replaced (From Damage or whatever). 

Example #1: Sheet Replacements
-------------------------------------------

So according to this IF THEY WERE SHEET REPLACEMENTS (Same Front & Back Plate Numbers) then the 206 and 207 Notes will be missing from EVERY SINGLE BRICK IN THE REAM and have replacements placed (Where the 206 and 207 Notes were in each brick).

This is because both sheets of notes... the 206 sheet and the 207 sheet were COMPLETELY REMOVED BEFORE THE NOTES WERE CUT and 2 ENTIRE SHEETS of replacement notes were put in their place THEN the notes were cut into individual bricks.

So each replacement (206 and 207 will increase in serial number by 1000  for each brick in sequence). So this means you would get the following:

Our example Brick AOM 5432000 will have lets say ABC 3325000 & ABC 3325001 in place of the AOM 206 and 207 Bricks. What this means is the NEXT brick in the ream (AOM 5433000) will have ABC 3326000 and ABC 3326001 in place of the 206 and 207 Notes.... And so on for the entire ream of AOM Notes. This is the first 2 sheets of notes in the ream of Sheet Replacements being used. Then in next ream of AOM Notes may have one or two more sheets used in different positions until all 1000 sheets are eventually used up.

With Single Note replacements this is VERY different....

Example #2: Single Note Replacements (SNR's)
------------------------------------------------------------

So lets go all the way back to our original Brick we got from the bank with a different scenario (SNR's)...

We have our AOM 5432000 and the 206 and 207 Notes are missing again. This time we have ABC 3321000 and ABC 3321001 (From our Designated Range of Single Note Replacements) in their place and the Front and back plate numbers do not match.

So what this means is that the ENTIRE REAM of AOM Notes were cut into bricks KNOWING there is only a couple defective notes in a couple sheets. So instead of wasting an ENTIRE sheets of notes (When only 1 or 2 notes are faulty) they leave them and cut the bricks up.

Then they go through the bricks (By Computer) and find the faulty notes in each brick and pulled them out and placed notes from the ABC 3321000 Brick in order....

So Our brick got the very first 2 notes in the brick of replacements. BUT the next brick (AOM 5433000) has NO missing notes as none were faulty but lets say AOM 5449000 had notes 555 and 556 faulty and that was it... So you might find in place of those pair of notes from our Brick of Replacement Notes ABC 3321002 and ABC 3321003. So they are the VERY NEXT notes in sequence yet they have been placed just over 28,000 notes later in the ream and are replacing notes from different sheets in the same ream as well.

So then lets say they do a great job of printing notes and the next 2 notes have have been mis-printed are AOM 7661444 and 7661445. So they will be replaced with the NEXT 2 notes from our replacement brick IN SEQUENCE.... So the 444 and 445 notes have in their place ABC 3321004 and ABC 3321005. So now the next 2 notes have been used about 2.218 Million notes later.

These notes are REPLACING SINGLE FAULTY NOTES AS REQUIRED. This is a matter of efficiency. Why waste an entire sheet of notes when only 1 or 2 notes are bad. Just replace the notes that are faulty.

We will find that this will be the case as time goes on. British American International is a MUCH better printer then CBN because they are 6 years more advanced in technology and have refined the printing technology to the point that very few replacements are required anymore.

This means Replacements are going to be harder and harder to come by.... This has already been seen with the Single Notes replacements found.

It is a known fact that Brick Searchers account for AT MOST 10% of the bricks searched that are released. Lets take the situation then that EVERY Brick Searcher finds a brick with a particular SNR Range that have been Inserted. So this means even though a SNR Range is 1000 Notes there would be AT MOST 100 Notes found. Unfortunately this is NOT The case. USUALLY Of the 1000 Note Range there is only about 15 - 20 Notes ever found. THAT'S IT!!!!! 

So Lets Contrast that with a Sheet Replacement Range.... 40,000 Notes (Brick Searchers find at most 10% so that is about 4000 Notes that could be found with lets say in reality about 3000 that could be discovered.

So we are dealing with 20 vs 3000 Possible Notes (150X More Notes in this example).

This is why Single Note Replacement's carry a higher premium then a standard Sheet Replacement Note. It all reflects Scarcity of the notes and the difficulty acquiring them.

As Gary has also mentioned there is a SECOND Type of Single Note Replacement that is much more scarce then regular SNR Notes. These notes are Inserted by the Canadian Bank Note Company. From what we have learned, there have been times that one printer will hire the other to help with the workload of packaging notes for delivery. What has happened is that a number of UNCUT reams were shipped to CBN from BAI to be cut and packaged.

What CBN usually does is Strap 1000 Notes together into a single brick VS BAI Who will bundle the notes in groups of 100 Notes in white paper bands and then wrap the bundles in Bricks of 1000 with another large white paper band.

So we have seen a few bricks of the new $5 and $10 Notes arrive strapped by hard plastic bound in 1000 notes bunches. And in these bricks there have been usually 2 Single Note Replacements found (One in the first half and one in the second half of the brick). They appear to be Quality Control Notes pulled (Typically seen with 2002 $5 Notes). These replacement notes were usually found between the 000 - 001 and 500 - 501 Notes.

It is believed that BAI Sent with the reams a few bricks (Or possibly bundles) of notes for CBN to use to replace notes as required while they packaged notes.

This is why we see TWO DISTINCT DIFFERENT TYPES OF SINGLE NOTE REPLACEMENTS.






 

So we are dealing with 20 vs 3000 Possible Notes

So assuming that these fiqures are somewhat accurate, is not 20 possible finds (in UNC or AU) scarce enough to make these notes even more costly than what they are currently being sold for?
Being new to this, what percentage of forum members actually base their collections on SNR, sheet replacements or both. No idea how to do a poll on this site, but I personally would be interested to know!
FRIEDSQUID

Yes, you are correct....

Of the few that are found, there is a chance not all found are in UNC Condition.

The Current prices are VERY low for SNR Replacements.

If you look in the Charlton with the 1954 and Multi-Color Series.... Take a look at the current value of the Replacement Notes that have very limited numbers....This should give you an idea where SNR Replacement will be headed someday.

Just because there are different SNR's available right now does not mean they will always be available. a Year from now good luck finding ANY of the notes that are being offered right now as the few that were available will disappear into collections for a very long time.

We must all remember that Prices also reflect Supply and Demand as well. When there is demand for notes that there is no supply on prices can rise very quickly. Even look at the current prices of the SNR's and then look at the prices of HPA Inserts???

Dis means...er...this means that there will be a renewed effort in serching through circulated notes in hopes of finding such elusive SNRs considering statistically that the bulk of those notes will be circulating out there. I'm content or lucky to just have an insert of each prefix regardless of ranges but, IT will be interesting to see how Charleton will price these SNRs for now the market determines such bank account depleting prices.

"Ya deep fry octopoo, squidy, monkey, whadever...dis still taste like chicken mon."
 
Dei Gratia All is irie! 

 PD

THE FULL MEAL DEAL IN REGARDS TO REPLACEMENT NOTES IN THE JOURNEY SERIES

What we have seen is that eventually they do use up all the notes and then the grab another "Random Brick" to be used SOLELY for Replacements. Again there have been a  few times they did set 2 or 3 bricks in sequence aside....

A superb dissertation X-Saviour! I have never been very interested in modern issues myself and I know little about them. I prefer the older (simpler!) issues. I would therefore be interested to know whether the observations/conclusions in your article are based on circumstantial evidence (in conjunction with some deductive reasoning/speculation) or whether they are based on absolute known facts.

Many thanks, and keep up the good work!