-I’m going to pass it down to my kids.
-I want to hold it for a while.
-I don’t need the money right now.
-I want to see if the market gets better.
These are all famous last words of people who have happened upon a great national bank note who decided not to sell while it was rare. We are not sure how it started, but there is a general misconception that antiques only increase in value as time passes. That is simply not true. Many antiques and collectibles get hot and then they get cold. During these cycles the supply only increases. Just because something is unique today, doesn’t mean that ten more won’t show up over the next decade. Why would you hold something and wait for it become more common? That is like having the winning powerball ticket and deciding not to cash it in because you want other people to have a chance to share the jackpot with you. We have selected a real world example to hopefully very clearly show exactly what we mean when we say that national banknotes only become more common. As more are discovered they all tend to lose value.
The County National Bank of Lincolnton, NC
At the beginning on 2006 no one had ever seen a national banknote from The County National Bank of Lincolnton, North Carolina. In April of that year one showed up auction and it sold for $19,550. Five years later we were fortunate enough to make the second discovery for the bank. We decided to auction it, and it brought $8,625. A few months later we were lucky enough to find another one. It was very low grade and we sold it privately for $3,700. In June 2012 another survivor is located and eventually winds up in auction where it sells for $2,760. Fast forward to April 2013, another one shows up and auctions for $1,587. In September 2013 the 6th discovery is made for the bank and it sells for $1,410. Just a few months after that another note turned up and it sold privately for $1,100. So let’s recap:
Unique – $19,500 (April 2006)
2nd Note – $8,625 (April 2011)
3rd Note – $3,700 (November 2011)
4th Note – $2,760 (June 2012)
5th Note – $1,587 (April 2013)
6th Note – $1,410 (September 2013)
7th Note – $1,100 (December 2013)
In a matter of seven years this note went from something that should be worth $20,000 to something that you probably couldn’t sell for $1,200. Imagine if you had been the first person and you decided to not sell when you had chance? Needless to say, needing the money or not really shouldn’t affect your decision. Hopefully this example shows how important rarity is.
So instead of waiting for your national bank note to get more common, why not sell today? We are actively buying at market prices. Please contact us to receive an offer. Sales@AntiqueMoney.com