Where has the full stop gone?

My many thanks to D.A.Wood for bringing this anomaly to our attention. Dennis is the main source for all the information at this website for PIL's and First and Last issues banknotes. It seems we now have another discovery.

It concerns the full stop being printed in the design of the $50 note.
The full stop appears at the end of the title
GOVERNOR, RESERVE BANK OF AUSTRALIA .
DEPUTY GOVERNOR, RESERVE BANK OF AUSTRALIA .

It seems that $50 notes from r505 to r509b did NOT have a full stop after AUSTRALIA


The anomaly seems to start with the $50 notes having Phillips/Fraser and Fraser/Higgins signatures. There are examples of both the r511 Phillips/Fraser and r512 Fraser/Higgins banknotes that were issued with and without full stops after AUSTRALIA .



I contacted Mick Vort-Ronald regarding this matter and he replied that it was interesting, but very minor, worth a mention, but hardly enough reason to try and collect the differences, and certainly not enough to crate a new variety. It seems that someone forgot to cross the eyes and dot the tees.

As this is a new discovery research time has been very limited.
It seems to only occur in two signature series of $50 notes.
Have not found this anomaly [yet] in any other decimal paper notes of $1 – $20.
We have not [yet] found any $50 serial prefixes that are both with and without a full stop.

Auction Prices
Yes, banknote prices do go up, but not always on a slow steady incline. Take any banknote over a 15 year period and you can almost guarantee it will have benefited from a considerable price rise. However, while that banknote has benefited from a gain in value, that doesn't mean that every owner of that note experienced the same gain. It's all about timing.
And that is why I will no longer be using CV as a guide to banknote values.
CV can only be used for one thing, and that is for the insurance value of your banknotes.
I believe this method will give you a better guide on the "real sale value" of your banknote.
And also, a much better guide as to what you might pay for a banknote [at auction].

Theses are the rules I have used to determine "Auction Prices".
There obviously needs to be a guideline set, and this is what I have chosen.
All Auction Prices listed here are for banknotes that meet the following criteria:

1] Auctions are for single notes only
2] There must be 5 or more bids
3] No half grades [aEF or VF/aEF or EF++ almost aUNC]
4] No repeater or radar serial numbers
5] eBay sales must have return option
6] No sellers from Singapore

I will list the highest price attained and also [the lowest]

 FineVFEFaUNCCFU
1998 5 1015 2550
2003 7 1220 4065
2008 10 1535 6590
Auction Prices
2012 14[17] 27[21] 28[24] 30 

If you want to start your own assessments, try eBay Completed Listings

Half grades
As a seller you probably think they are great. You have a note that is graded VF, so you may also do what do a lot of other sellers do. They immediately offer it as a VF+, or why not try aEF. If it gets you a few more dollars all the better. As a buyer you are concerned. Is it really a great example of a VF graded banknote or is the seller just trying to rip you off. This situation will not resolve itself. Lets not forget that every seller starts as a buyer. You will often read that "grading is the most controversial component of collecting banknotes. Small differences in grade can mean significant differences in value. The process of grading is so subjective and dependant on external influences (such as lighting), that even a very experienced individual may well grade the same note differently on separate occasions". This is often posted by some traders as a defence against their lack of ability or knowledge. What that actually means is that a buyer grades it as VF then sells it as EF or even aUNC.

It will eventaully get to the stage where many will try the method used by this seller. They have graded the note as EF to Uncirculated and shown a CV for an aUNC note. That's covering all your bases. I don't even mind that he copies and pastes the grading guide from this website, but at least he could have taken the time to read it. And yes, I do know that it is a recognised grading in Europe, but when done in Australia it's just a poorly baited hook.

Have a look at the number of ANDA and other brick and mortar traders at eBay who don't even give a grading for the notes they are selling. Rather than setting the standard they are running with the pack by avoiding the grading of a note entirely. The grade of a note determines its price, and zero or half grades doesn't help the buyer to make a decision.

Currency Conversations
Welcome to the Australian Banknote Forum
Everyone is welcome to join in the discussions about anything related to Australian Banknotes, so please post your questions, problems or ideas here.
Suggestions and Feedback will be welcome for this new project.

References
The references on this website [r76b – Mc107] refer to the two print catalogues that are used as the standard by bank note collectors. The "r" numbers are from the Renniks Australian Coin and Banknote Values catalogue and the "Mc" numbers refer to The Pocket Guide to Australian Coins and Banknotes by Greg McDonald.

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