Journey replacement notes

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[Have you made money or lost money on any replacement notes you purchased]

Have you made money or lost money on any replacement notes you purchased

Made money

4 (80%)

Lost money

1 (20%)

Broke even

0 (0%)

Total Members Voted: 0

Voting closed: September 15, 2007, 11:16:15 pm

I would like to start a poll to see how many collectors on the forum have purchased replacement notes. Whether sheet replacements, or SNR's (single note replacements) and believe that they have made money on the notes, lost money on the notes, or basically broke even (won and lost) with their purchases.
I would prefer that brick searchers who found replacements and sold them do not automatically vote for MADE MONEY.  They should answer the question only regarding notes that they have purchased from another source.
Comments would be great in regards to any members that felt they originally made a wise choice based on the information available to them but in the end found that the purchase was not to their benefit.
This is not meant as a place to vent problems with buyers and sellers but just to get an overall picture on how collectors feel about replacements.

I think it is very premature to be doing any analysis on SNRs.  For one, no real market has been
established on SNRs.  You do not even have a baseline like catalogue values to use for this purpose.

I also believe that many collectors are taking the buy and hold approach to purchasing replacement notes
as opposed to flipping them for quick profits.  This is obvious by the sparse auction listings for SNRs on
eBay or at public auction.

Secondly, you are assuming that all collectors are buying replacement notes to make money.  I am
aware of many collectors who buy for the sole purpose of collecting.

It was stated very clearly in the current catalogue:

AZA insert replacement notes listed in the last edition are now believed to be single note replacements.
Whie this area has not been developed sufficiently for catalogue listing, such notes are very well worth
keeping.

By the release of the next catalogue we should have a very accurate picture of SNRs and which ranges are
truly scarce.  Until then it will be speculation on the part of paper money investors, and price tolerance on
the part of pure paper money collectors, that will dictate the prices paid for these notes.

As a collector for over 20 years I can tell you that I have seen significant increases in replacement note
prices.  I do not have one 1954, multicoloured or bird replacement that I have lost money on.  In fact,
all of my Journey note replacements have appreciated nicely as well.

...Arthur

I think it is very premature to be doing any analysis on SNRs.

I am not trying to do an analysis on SNR's.

you are assuming that all collectors are buying replacement notes to make money

Where do I make this assumption. I simply asked do they

  believe that they have made money on the notes, lost money on the notes, or basically broke even (won and lost) with their purchases.

I don't think one has to actually sell something to believe that they have made or lost money on a note.

I do not have one 1954, multicoloured or bird replacement that I have lost money on.

The poll was for Journey Replacement Notes (refer to the subject line) not for anything else.


This was meant to be a simple poll.........NOTING MORE!!!!!!!!!!!!!!!!!!!!!!!!!

I think for the most part buying a replacement note when it first becomes available is a little bit of a gamble. I am NOT doubting the fact that it is a repalcement note, it's just until we see how many were actually found we will not know the true value of a note.

Over the last few years, I have been very very lucky in a few of my acquisitions. I was fortunate enough to purchase the lengendary high range HOG for only $50, and the AOS snr for $75. Two very good purchases in my mind. On the same note however, I have purchased other notes that I may have gotten a little too excited over. I do not blame anyone but myself for paying what may have turned out to be too much for a note. My problem is that I don't want to let anything get away from me. Too many times I have sat on the fence only to be sorry later.

I figure that time will always tell us the value of note, but by then it may be too late.

Scott

I have a feeling that the point I was trying to make has been taken the wrong way.  I am in no way disputing the fact that Journey replacements notes exist, nor that efforts put into this research should not be acknowledged.  I have used this  research and its results to make many decisions in what I purchase and I will say that I have spent a considerable amount of money on Journey replacement notes so they would be part of my collection that I could eventually pass down.  I am not in the business of selling notes, I am strickly a collector.  If I had no faith in the information found about replacement notes I would definitely not be purchasing them. I do believe that some notes will in time be quiet valuable.
What I was really trying to get at here was that being a very,very new collector it has been difficult to always find the information I am looking for and sometimes because of this lack of available information, I do not feel confident as to making certain decisions. Again, I make the decision to pay what I pay for a note and do not blame others for what happens as a result of that transaction.
I guess what I would truly like to see is maybe a better way to let new collectors have access to current information as it unfolds. Maybe reporting of finds can placed on the forum more often by those who make discoveries instead of with holding information until more is found.  I think you can sometimes make wiser decisions when you have all of the facts.
FRIEDSQUID

I admit to having a few inserts, however, I am not as interested in these as compared to* or X notes.  At my final estate sale, I will have my kids alert the polls once they sell my collection to determine if these became more valuable or not!