One person's trash is another's treasure

[aaronphetamine]

Ok so heres my quick story

I work at a Bank part time while I'm at Uni and today this elderly man came in and handed me 5 old australian 20dollar paper notes as he wanted to swap them over to new polymer notes..

So i swapped them over to him and asked him where he found them, and he proceeded to tell me that he was renovating the bathroom and infact found them in a container in the the back of a cupboard of all places. The notes were in terrific condition for a note that I later found out was printed in 1983 it was in near perfect condition, even the ink print still had that crisp raised feel to it, and this was the same with all 5 notes.

After the customer left I noticed that the serial numbers on all the of the notes were consecutive... this combined with the fact that the notes were in such good quality prompted me to investigate the "worth" of these old paper notes

I called a few auction houses / coin & note collection shops and looked on eBay and on websites and I came to realised that collectors seemed to value very highly consecutive serial number notes and obviously notes in perfect or near perfect condition.

Final estimates on my $100 worth of old $20 notes - between $300-$600 depending on how keen someone is to buy them..

So naturally I withdrew $100 from my account and asked for it all in $20 dollar notes... old $20 dollar notes! hehe.

So now they sit in my old biology textbook getting ultra flat

For all you avid note collectors out there, I have in my hot little hands

5 Consecutive R408 Johnston/Stone 1983 aUNC VHC 540400 - 540404 notes.

I remember seeing on current affairs shows stories where one persons trash has been anothers treasures!

I urge you all to check for old monies, and ESPECIALLY if they are in consective series!

I was also told to look out for new polymer $20 notes that had the beginning of a serial number of JC 06.

Im stuck between wanting to sell these notes or keeping them and starting my own collection!

http://www.monetariumadelaide.com.au/Live Decimal notes.html

Thanks for reading.
Aaron.

 

[alankew]

Re: What happened to me at work today !One persons trash, anothers treasure

Aaron not advice or anything but this is something that i have been looking at doing,I personally would look at it as "its just $100"put into a speccy,not as if you are going to miss it,wait a few more years and it might be a 20 bagger.Mule coins are something to look out for,not got lucky yet but there is a $1 worth about $1200Take a look on ebay

 

[roland]

Re: What happened to me at work today! One person's trash, another's treasure

My Grandmother passed on a 2 gallon bucket filled to the brim of threepence and sixpence pieces to one of my cousins - I wonder what that would be worth today?

 

[sam76]

Re: What happened to me at work today! One person's trash, another's treasure

I purchased a couple of mint Iraqi Dinars a couple of years ago with old man Hussein on them.

Not for value but for history

nice score though

 

[Stan 101]

Re: What happened to me at work today! One person's trash, another's treasure

Alright. I'll bite... What's a mule coin?


Cheers,

 

[aaronphetamine]

Re: What happened to me at work today! One person's trash, another's treasure

Yeah ive been on the look out for mule coins recently after reading about them somewhere not too long ago alan, working in the bank i do go through alot of money and coins. Id love to find one!

I believe a mule coin is a coin that is printed with the Queens head on both sides, but dont quote me!

 

[alankew]

Re: What happened to me at work today! One person's trash, another's treasure

Never heard of them before but i have my own vending business and was told to look out for them.My understanding is its a $1 coin that was minted in the UK for some reason and they used the 10c Queens head to stamp the coin instead of the normal sized Queens head-the effect is that you have a 2 edges to the outside of the coin(not sure if that makes sense but type in mule on ebay and hopefully there will be an example)Think the ones to look out for are a 1984 and also 2000 $1(dont get too excited like i did when you get a $1 from this year!)There is also a 1966 20c-the 2 of the 20 was stamped with a different character 2 that has a wavy line-sells for about $250 on ebay.I am not a sad old git,just was told this a while ago and now i have a quick squint through the money i collect!In fact just had a look myself and theres loads of the $1 and one wavy20c

 

[numbercruncher]

Re: What happened to me at work today! One person's trash, another's treasure

I believe a mule coin is a coin that is printed with the Queens head on both sides, but dont quote me!

Thats usually called Brockage, one side will show a mirror image, its caused by the coin not releasing from the die during manufactorer and striking the next coin in the System.

A Mule coin is obverse (Queens Head) and reverse designs not normally seen on the same coin. Good example is the the 2000 $1 coin during manufacture some where minted using a 10c obverse, Average condition would be worth about $500 , Uncirculated condition perhaps as high as 5k.

Actually a coin with the Queens head on both sides would be called a mule if, ie/ A $1 coin with QE on one side and QE from say a 10c die on other would be a Mule.

 

[Julia]

Re: What happened to me at work today! One person's trash, another's treasure

I don't suppose another option would have been to contact the old man and let him know the true value of his notes?

 

[Nyden]

Re: What happened to me at work today! One person's trash, another's treasure

I don't suppose another option would have been to contact the old man and let him know the true value of his notes?

Yes, I thought the same thing.

I'd feel far too guilty to just keep it :

 

[Buster]

Re: What happened to me at work today! One person's trash, another's treasure

G'Day all,

I don't suppose another option would have been to contact the old man and let him know the true value of his notes?

Yes.. Indeed.. That's where I thought he was heading.. but alas..

Interestingly, many many moons ago when we used to have to form up alphabetically on the Ship and file past the Supply Officer each payday, whilst saluting and quoting the last three digits of our service number as we received our pay packets (those were the days..).. Anyway the small denomination notes were being phased out so the writers thought they'd have a joke on one of the young blokes. They stuffed his pay packet with 50 (Yes Fifty) brand spanking new crisp sequential $1 notes..

He took his pay packet down to the Supply Officer after Pay had finished and complained, so they swapped them.. I've often wondered how much they would have been worth had he just tucked them away somewhere..

Regards,

Buster

 

[aaronphetamine]

Re: What happened to me at work today! One person's trash, another's treasure

I don't suppose another option would have been to contact the old man and let him know the true value of his notes?

Dear Julia, unfortunately there can be no contact of this gentlemen due to their being no paper trail whatsoever.
He arrived at the Bank for an exchange of cash, I counted his paper money infront of him and then I counted the polymer money infront of him and we traded notes. I chatted to him for a few minutes and then he left. There was no recordings of any kind taken, and for all I know he might not have even been a customer of the bank I work at!

 

[numbercruncher]

Re: What happened to me at work today! One person's trash, another's treasure

I don't suppose another option would have been to contact the old man and let him know the true value of his notes?

Aaron here in my humble O has no obligation, moral or otherwise to do that, even on the off chance he could track him down.

Hes taken the initiative to investigate and rightly deserves the rewards, if anything his employer has a claim, Aaron acted on behalf of and in good faith for the company he represents, and seen as it was his lucky day he gets to purchase $500 worth of collectable banknotes from his employer for $100.

If Aaron didnt do the leg work the notes would of been sent to the RBA and destroyed, I say good on this hardworking student, he probably needs the money more than the chap who willingly exchanged it for legal tender anyways.

You guys who think Aaron did the wrong thing, tell me if you walked into a Garage sale and purchased a vase and took it home googled it and discovered it was worth 10x more would you offer it back to the old lady running the garage sale ? Or any of your other assets purchased under discount ?

Im an avid collector, I have a Painting here I recently purchased from a second hand store, I could easily sell it for 100x more than what I paid for it and when I purchased it I knew full well its actual worth, thats Business isnt it ? or have I ripped the poor old shop keeper off ?


( Just for the record I do dispise people who actively and dishonestly prey on the elderly or anyone for that matter for financial gain but it certainly doesnt apply to the thread starter)

 

[aaronphetamine]

Re: What happened to me at work today! One person's trash, another's treasure

Thank you numbercruncher for that post.

Let me tell you, to work in a bank you need to have a great deal of morals and ethics, I have many customers who come in to withdraw their pensions and have very bad eye sight, it would be more than easy for me to wishdraw more than they had asked for and simply put the money in my pocket.

I infact pride myself on the excellent rapport and trust I have with all of my customers and especially with a certain few of them. Despite me being upwards of 50 and 60 years junior of many of my regular customers, they love to come to my window to be served and many wait in line for me to serve them. They are all decent people who are up for a good chat, many have had their spouse pass away and coming to the shops is some of the only human contact they get. Some even brought me choccies for christmas!

To even suggest that I "ripped off" this man is abhorent and totally unfounded!

The 5 twenty dollar notes for all intensive purposes are valued at $100, and thats exactly what I gave the gentleman! If some nutter out there wants to pay over $300 for money worth $100 then thats his or her perogative!

Thank-You again!

 

[Kimosabi]

Re: What happened to me at work today! One person's trash, another's treasure

Adjusted for inflation, he should have got $1,000

I find it funny how people who work in a bank are expected to have morals and ethics, while the people who run the bank have none....

 

[numbercruncher]

Re: What happened to me at work today! One person's trash, another's treasure

I find it funny how people who work in a bank are expected to have morals and ethics, while the people who run the bank have none....

haha very well pointed out

 

[Bill M]

Re: What happened to me at work today! One person's trash, another's treasure

About 20 years ago I took out a withdrawal from an ATM for $100. What came out was 10 x $10 paper notes, brand new and consecutive order. I told my Mother about it and she told me to put them in an envelope and keep them for the future as they were being fazed out. I took Mums advice and it's tucked away in an old briefcase.

I also bought a sheet of "uncut NZ Treaty of Waitangi $10 notes". (32 of them on a sheet)

Where or how is the best way to sell stuff like this?

 

[Prospector]

Re: What happened to me at work today! One person's trash, another's treasure

I don't suppose another option would have been to contact the old man and let him know the true value of his notes?

On one hand I kept reading down the post to see whether you had contacted him to let him know, and he said 'Good luck to you young man, you can keep them' On the other hand, well, the older man should have done that, and it wasn't as though he was the original owner - he just found them stashed by someone else, didn't he.

But wait, there's more - I read your post at 10pm last night and your post did make me look at a hoard (maybe 1,000 of various denominations) of pre-decimal coins my partner has had, well, forever!

So I did a google and found a site that listed all the years, all the coins, and an estimate of their value. I had done a pre-sort maybe 5 years ago, and on this site I saw that a 1923 Halfpenny was the equivalent of the 1930 Penny, and we all know that story. I thought, maybe there is one there.

AND THERE IS...............It is the rarest halfpenny ever produced in Australia......now what happens

Needless to say, the Bank won't see any of it until it has been 'converted'

 

[ithatheekret]

Re: What happened to me at work today! One person's trash, another's treasure

Auction them don't take 'em to a dealer , then all the collectors and dealers can fight over who wants them the most .

 

[numbercruncher]

Re: What happened to me at work today! One person's trash, another's treasure

So I did a google and found a site that listed all the years, all the coins, and an estimate of their value. I had done a pre-sort maybe 5 years ago, and on this site I saw that a 1923 Halfpenny was the equivalent of the 1930 Penny, and we all know that story. I thought, maybe there is one there.

AND THERE IS...............It is the rarest halfpenny ever produced in Australia......now what happens

Needless to say, the Bank won't see any of it until it has been 'converted'

Very Impressive !

Id recommend keeping it seperate from the other coins in a safe place any damage could deplete its value !

Does it have much wear on it ? On King Georges crown at the base of, there is a band with Diamond and : shapes , can you see them, not worn out ?