Why Would Anyone Pay $128 for Something Worth $100?

stralya on 01/10/2020 - 16:19

I saw Australia Post spruiking the new $100 note, with the new note being sold for $128. See link https://auspost.com.au/shop/product/next-generation-of-100-1…

While I understand that collectors pay over the odds for rare items, this seems to have nothing rare about it:

  • There is no limited edition serial number or special design
  • There is no special frame / display / certificate of authenticity, not even a brochure / booklet that could add some value
  • It will be delivered upto 6 weeks after the note actually gets into circulation.Which means you could walk into a banlk branch and ask for a brand new $100 note before this even arrives.

So, I'm stumped. What am I missing here? Why is this even collectible, let alone worth paying a 28% premium for?

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Comments

  • CyberMurning on 01/10/2020 - 16:21
    +14

    128 for 100 sounds nothing compare with the effort of those fan boi camping 3 nights on the road to pay $1,800 nothing special edition iphone

  • triviums on 01/10/2020 - 16:22
    +7

    $28 premium to guarantee mint condition note?

  • Fredfloresjr on 01/10/2020 - 16:22

    For some its like spending 28 cents on top. Some have extras and some don’t. We all have different status in life.

  • rambutann on 01/10/2020 - 16:24
    +5

    My favourite part about it is that they send it via standard post

    • BOGOF on 01/10/2020 - 16:24

      2-3 weeks delivery then.

      • Dean29 on 01/10/2020 - 16:43

        2-3 months

        • cloudy on 01/10/2020 - 18:46
          +1

          I’m wonder if I will ever receive it

      • usmanyousaf on 01/10/2020 - 20:26

        Its pre-order…so definitely longer than 2-3 weeks.

    • [Deactivated] on 06/10/2020 - 17:00
      +1

      Hmm, somebody should report Australia Post to Australia Post for sending prohibited items through the postal network then. You can't send cash unless it's registered post.

  • DannyC on 01/10/2020 - 16:28

    So, I'm stumped. What am I missing here? Why is this even collectible, let alone worth paying a 28% premium for?

    A bit odd yes but I guess there are those that will pay a premium for something that is housed in some sort of folder as a collectable piece. Though there is no unique serial number or design that makes it stand out, so beats me on what the charm is.

    • [Deactivated] on 06/10/2020 - 17:00
      +1

      Uncirculated. Notes which have never encountered a sorting machine, cash register, or even potentially human hands do have value over other notes.

  • stralya on 01/10/2020 - 16:32

    Maybe they are trying to get nominated for the Shonkies https://www.choice.com.au/shonky-awards

  • Seraphin7 on 01/10/2020 - 16:36
    +13

    not even a brochure / booklet that could add some value

    Did you read the description? Here's what on the Australia Post link …

    This commemorative folder contains one uncirculated $100 banknote from the new polymer series, housed in a clear window. The folder depicts artwork used on the banknote.

    Now, whether or not that's worth $28 is up to any potential purchaser, but they're not just literally pulling them out of the till.

  • Ocker on 01/10/2020 - 16:39
    +7

    Key is that if you walk into a bank you will not get a "brand new" $100 note. It will have been handled and probably have very, very minor flick marks or bends, in collector terms it will be graded aUNC.
    The one from AusPost will have been carefully taken from a flat bundle of new $100 notes and be graded as CFU.
    The book value of a CFU note can be 35% - 100%+ higher than an aUNC note

    • mskeggs on 01/10/2020 - 18:52
      +1

      As ocker says, for collectors of modern notes they won’t bother with circulated notes, and this sort of uncirculated or better, a mint condition (do they have mint notes?) indicates it is new condition.

      It’s a bit like eBay sellers describing things as being in “as new” condition versus “new sealed in box”. The first has different meanings to different people, but the second is consistent.

  • Soluble on 01/10/2020 - 16:54
    +1

    Same reason people are paying extra for the 'special' $2 coins that are minted to the same quantities as a standard $2 coin.

  • plmko on 01/10/2020 - 17:00
    +3

    How dare people be willing spend their money on their interests and hobbies

    • jimbler on 02/10/2020 - 07:03
      -2

      Lets be honest, if collecting banknotes is your hobby, you need to find a new hobby.

  • Moneyinthebank on 01/10/2020 - 17:10
    +3

    This note has no corona

  • nomoneynoproblems on 01/10/2020 - 17:29

    Someone tell op about the 3080 and what people have paid over RRP.

  • Stewardo on 01/10/2020 - 17:58
    -1

    Same reason they buy Andre Rieu CDs

  • BewareOfThe Dog on 01/10/2020 - 18:18
    -1

    Obviously made by Apple. ;)

  • GoldenPan on 01/10/2020 - 20:17
    +1

    Uncirculated. You can also try get some clean notes from the bank, but it's usually rare unless you live in regional Australia. However, the ones you get from the bank won't have a special symbol stating it is uncirculated on it.

  • sydney_kings on 03/10/2020 - 15:41

    Curiously, how have past issues of uncirculated notes performed?

    • popsiee on 03/10/2020 - 15:50

      This will be a dog as many people who don't collect notes always put aside the first note when changed .eg 1996 $100 First polymer note uncirculated is worth $100 still but latter years went well especially first and last prefix .

  • cashless on 09/10/2020 - 08:21

    Looks like a bargain to me. Once the note is officially released you will never see them as the drug dealers will have hoarded the lot

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