1954 $2 Modified G/R Non Test Notes

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Hello..

I was just wondering if someone could shed some light as to why the value of the 1954 $2 G/R Prefix NON Test notes is so high?

I know it maybe because of the Gaps in Series for the test ones but?

Any of you long timers give an opinion or know why the value is so high considering there was over 9,000,000+ G/R Non Tests Produced?

Seems strange that a UNC G/R Non Test is $250 book but an UNC *K/G is only $100 in UNC.

Comments.. thoughts?

I believe that not all 9,000,000 were ever circulated. It is possible that some ranges of G/R were issued for test but never released then destroyed. I think that this topic was covered in the past on here, i am not sure though, if it was i am not sure where we would find it.

I don't think there is any documentation that definitively states that the full range of G/R non-test notes was or was not circulated.  I think the mystique of the G/R test note has resulted in a higher than normal valuation for the rest of the G/R non-test prefix.  The same has happened with the E/R non-test note range since the E/R test note range was made public.

With that said, I have paid a premium for G/R non-test notes, that are within a close proximity to the known test note ranges, in the hope that the ranges may eventually be enlarged as more archival data becomes public.

Here is one G/R non-test note that definitely deserves a premium valuation 


{http://www.davgro.com/images/cpmf/1954_$2_GR4444444.jpg}

Hey... Now just imagine if that G/R4444444 were to have fallen within one of those test note ranges. Can you imagine the value and rarity. 

I've been keeping an "eye" on this prefix.  Recently saw on e-bay a G/R note in the 9 million range.  This means that I have now seen G/R non-test notes from the < 1 million range, the 1 million range, the 2 million range, the 3 million range, the 4 million range, the 6 million range, the 7 million range, the 8 million range, the 9 million range, and in the 5 million range I have seen non-test notes below, above and between the test note ranges.  This would suggest to me that the full prefix was released.   

With the recent discovery of E/R test notes, and G/R test notes not being terribly old either, some collectors believe that there are still more test note ranges to be discovered. Therefore, these people are buying up the cheaper non-test notes in hopes that one day they might be declared test notes. This increased demand and buying activity is thus driving the price upwards. There is no evidence at this time to suggest that there are any more test note ranges to be found in the G/R prefix, or any adjacent prefixes, and indeed, the best information available at present indicates that all test note ranges have been found.

I've been keeping an "eye" on this prefix.  Recently saw on e-bay a G/R note in the 9 million range.  This means that I have now seen G/R non-test notes from the < 1 million range, the 1 million range, the 2 million range, the 3 million range, the 4 million range, the 6 million range, the 7 million range, the 8 million range, the 9 million range, and in the 5 million range I have seen non-test notes below, above and between the test note ranges.  This would suggest to me that the full prefix was released. 

I would have to agree that the full range of the G/R prefix was released into circulation.  The non-test notes are more prevalent than you may think.  I picked up a run of 12 AU/UNC (most in sequence) that were found in a basement in BC.


{http://www.davgro.com/images/eBay/1954_$2_GR_Sequence.jpg}

Seems strange that a UNC G/R Non Test is $250 book but an UNC *K/G is only $100 in UNC.

Comments.. thoughts?

I wonder if Charlton will ever think of revising those prices.  I just picked up an AU-Unc G/R for just $10 from a popular dealer.   

Wow, thats a really good deal! I dont have my Charlton Catalogue with me, but dont those have a book price of somewhere around $170? In that condition

I wonder if Charlton will ever think of revising those prices.  I just picked up an AU-Unc G/R for just $10 from a popular dealer.   

Yes you will probably find that these notes in the more common ranges will go for less than book price. I think i paid about $4 for a VF lower range G/R a few years back.