Third-party graded paper money will soon have an auction outlet at Teletrade, the telephone and Internet auction company that has offered certified coins for years.
?With the increase in activity in the paper money market, we?ve had many clients ask us to hold auctions for certified currency,? said Ian Russell, Teletrade president.
In the photo: Teletrade president Ian Russell holds a 1914 $5 Federal Reserve Note consigned to Teletrade?s first certified currency auction.
The first Teletrade Certified Currency Auction will take place on Sunday, Sept. 10.
?Within days of informally telling people we planned to launch the new service, we had over 200 lots consigned for the inaugural currency auction,? Russell said.
Among items consigned to Teletrade?s first certified paper money auction is a Series 1914 $5 Federal Reserve Note (Fr. 851a) graded Superb Gem-67 by Paper Money Guaranty.
Currently Teletrade is accepting currency certified by either PCGS Currency or Paper Money Guaranty as consignments.
?PCGS Currency and PMG are offering special rates starting at only $8 per item to certify notes consigned to Teletrade. This is similar to the popular certification discounts available to consignors of coins,? said Russell.
Specific information about auction commission rates is available online at www.Teletrade.com/currency, or call Ian Russell or Irma Kane at (800) 949-2646.
Teletrade auctions are held every Sunday, Monday and Wednesday.