Bank Note Hoards. How many are still out there??

News: Registration is free here at the CPMF!

I thought it might be interesting to survey members' experiences regarding the acquisition of hoards and accumulations of early and rare notes. In a lifetime of collecting, most if not all of us come across hoards or accumulations that make other collectors green with envy. My principal hoard acquisition is summarized in an article that I prepared shortly after I purchased it (Sept. 1995). I paid $7,500 for the hoard which was a very significant amount at the time. I kept the hoard largely intact until 2003 when I needed some money. I just wish I had held on for another five years as one of the notes in the hoard sold for $20,000 plus 20% commission at the latest Torex auction ($20 Small Seal in PMG-65 EPQ)! One good thing about hoards is that the notes are invariably in original (unpressed) condition.

The final paragraph in the article is worth highlighting:

" The completely unexpected appearance of this hoard serves to prove yet again that numismatists should never give up in their quest for elusive treasures. In all likelihood, there are many comparable numismatic hoards still waiting to be unearthed in attics, safety deposit boxes, and elsewhere. "



{http://img.villagephotos.com/p/2008-1/1293040/Hoard1.jpg}

{http://img.villagephotos.com/p/2008-1/1293040/Hoard2.jpg}

Very neat, thank you for sharing. I always like to see older prints on Canadian Banknote varieties/hoards, etc.

I just wish I had held on for another five years as one of the notes in the hoard sold for $20,000 plus 20%          WOW is all that I can say about your great find. I am curious as to how you came across such an impressive find and how did you buy it....ie. from a dealer, an auction, an individual or eBay? One recent hoard that I tried to bid on was one from an eBay seller, in the U.S., who had approx. 10 different lots listed, and after a couple of days it was removed by eBay . Do any members know why it was removed.....it appeared to be a legitimate acquisition I thought .                                     

All lots have been relisted. Here is one of them.

Lot number 260306498264

I am curious as to how you came across such an impressive find and how did you buy it....ie. from a dealer, an auction, an individual or eBay?

It's very unlikely that you will obtain significant hoards of interesting material on eBay as most sellers would break up the material into smaller lots. Also, there's usually a lot of competition on eBay.

I obtained my hoard when I set up a sales table at a local coin and stamp show. A member of the public brought in four or five sample notes. I showed him the catalogue and made an offer and he said he would think about it. You can imagine my surprise when he contacted me about a month later with the entire hoard. There's always an element of luck involved in such acquisitions, i.e., being at the right place at the right place. Also, it's important to be able to recognize a great opportunity when it presents itself and not be too cautious about overpaying. Like many people, I've missed many good things over the years by being too cautious. Perhaps my biggest missed opportunity was the first known McCavour-Saunders $5 1912 Train note that I could have purchased for $180.00 in 1978 (that was a lot of money at the time). That signature combination wasn't listed in the Charlton catalogue at that time and no one knew anything about it so I foolishly erred on the side of caution. I'm still kicking myself about that one!

I wish this person could have made smaller lots giving more people of more modest means to have a chance of bidding on it.

Yes......I agree with you PD about smaller lot's for us with little budgets . I see that Rick was fortunate enough to win the lot of 1900 to 1937 notes for around 1500.00 , which was a good buy for him. Perhaps he will list some of these notes on the trading post for us . Also thank you Ottawa for the story behind those nice 1935 20.00's hoard that you were so fortunate to buy so many years ago. I just looked up that 5.00 train note to see today's trend of 40,000.00 ......oh well the opportunities we all could of had .

great story