Can I safely cancel this currency transaction?

[dadswarehouse]

Last night I posted a piece of currency on ebay.  I listed it for $5. and almost instantly got an offer to buy for $50.  I questioned why the buyer would want to purchase what I called a poor quality Japanese 100Yen bill.  He told me it was in fact Korean and said his offer was a fair one as others were selling for this amount on Ebay.  I changed the listing so he could make an offer,  which he did for $50.  I accepted it and he paid immediately.   After I sold it I did a bit more research on the bill and found it was very rare.  It was the first currency printed after the two Korea's were split apart and apparently few of these 100 Won bills still exist.  Can I cancel the sale after the customer has paid given I had misidentified the currency in the first place?  Can the customer mess up my perfect sales record with negative feedback?

All of my sales are for charity.  I feel bad that I gave away something for $50 that might have sold for $500 or more.  Better quality ones have sold for $1,600.  I need some advice on how to move forward in an ethical and fair way not breaking any ebay rules or regulations.

[dadswarehouse]

Thanks for your reply.  As suggested I carried thru with the sale but did include a message noting my disappointment with the buyer's choice to low-ball a charity auction item.

Ray

[dadswarehouse]

Thanks for your reply.  As suggested I carried thru with the sale but did include a message noting my disappointment with the buyer's choice to low-ball a charity auction item.

Ray

[dadswarehouse]

Thanks for your reply. 

[dadswarehouse]

Thanks for your reply. 

[dadswarehouse]

Thanks for your reply and the additional information.  And if you are suggesting I ironed these notes you are wrong.  They were stored in a drinking glass, rolled up, in a kitchen cabinet for over 40 years.   I may not know much about currency but I know that ironing bills is not honest.

Ray

[donsdetour]

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@dadswarehouse wrote:

Thanks for your reply.  As suggested I carried thru with the sale but did include a message noting my disappointment with the buyer's choice to low-ball a charity auction item.

Ray

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Hmm I would deserve a neg for sending that.

[dadswarehouse]

Thus far I have been lucky.....or perhaps I have bent over backwards to just make folks happy.  I am actually finding this learning process rather helpful.   I have quite a few pieces of U.S. currency my father left me that I have contemplated selling here.  Might you have any suggestions how I might learn more about doing that safely on ebay? I would love answers to questions like these..... Is it worth having the lot graded?  What are the things that can go wrong?-other than what I just learned......etc..

[dadswarehouse]

Well after the fact I checked on what he what he had up for sale.  Of the dozens of items there were none for $50.....2 or 3 for $250.....and many, many more for amounts in the $1000-$3000 range.  Just out of curiosity I will keep my eye on his sales.

Ray

[dadswarehouse]

The distinction that I see between the ones selling for $50 and the one that sold for $1600 a few years back is very subtle. 

https://auctions.stacksbowers.com/lots/view/1-1E8KH/korea-bank-of-chosen-100-yen-nd-1945-p-41

The "flower" in blue background  on my bill  and the one pictured above are not on the one's selling for $50.  In my reading the change made after the partitioning of Korea was small....the addition of the National flower of Korea.

I am open to any other information folks may have on this or other help for someone just starting out here!

[dadswarehouse]

Please explain the reference to Pick 44 an Pick 41....thanks, Ray.

[dadswarehouse]

Thanks for your input.  Ray

[*smedley*]

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@dadswarehouse wrote:

Thanks for your reply.  As suggested I carried thru with the sale but did include a message noting my disappointment with the buyer's choice to low-ball a charity auction item.

Ray

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actually, i think you got the better end of the deal... i don't think it's worth $50 due to such a low state of preservation...

[*smedley*]

Thanks for your reply.  As suggested I carried thru with the sale but did include a message noting my disappointment with the buyer's choice to low-ball a charity auction item.

Ray

[*smedley*]

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@dadswarehouse wrote:

Thus far I have been lucky.....or perhaps I have bent over backwards to just make folks happy.  I am actually finding this learning process rather helpful.   I have quite a few pieces of U.S. currency my father left me that I have contemplated selling here.  Might you have any suggestions how I might learn more about doing that safely on ebay? I would love answers to questions like these..... Is it worth having the lot graded?  What are the things that can go wrong?-other than what I just learned......etc..

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odds are you don't have a valuable note... most currency isn't worth much more than face... please feel free to post pics before listing and someone will let you know...

[*smedley*]

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@dadswarehouse wrote:

Please explain the reference to Pick 44 an Pick 41....thanks, Ray.

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a dude named Pick literally wrote the first generally accepted book on currency... hence, Pick numbers are the standard for identifying currency...

[elheron-grande]

That is true!  Heron has been involved with paper money since 1970.   Heron has purchased

and sold thousands of pieces of paper money.   Finding a rare piece of paper money is 'rare'.

It is a rare event.   In the past 50 years of fun with paper money Heron has purchased and 

owned only 1 'rare' note.   Acquired 'accidently' in a batch of paper purchased from a coin

dealer.   One price for the batch.  'As is' purchase.   Did not identify the note for about 4 

months.   Found it in one of Albert Pick's catalogs.  Heron did not believe it at first.  Took the

note to the Big Collectibles Expo in Long Beach and showed it to a long time paper money

dealer.  He told me what it was and would swap 1200 bucks of $2-$5 notes for it.  Heron took

that offer.  (The long time paper money dealer was a contributor to the KM paper money

catalogs).   Yes, finding a big Dollar item is very rare.  And just plain luck in Heron's case).

[elheron-grande]

In Heron's opinion (and Heron is NOT a specialist in Japanese notes, or Korean notes, although Heron did quite

well on eBay selling Japanese war bonds dated 1943 and 1944.   That is another story), the 

primary reason for Pick 41 being a lot more valuable than Pick 44 is the probability that the

Pick 41 note was a 'short lived' issue.  It was probably declared obsolete money after a short

while in circulation.   And there is the probability that many were burned  or used

as cooking 'fire-starters'.   We will need a Korean paper money expert to comment on this

subject.  

[pgh_pen]

I once had an item (not a coin) up for auction that I would have been happy to get $25.00.  It was bid up quickly to $150.  I then got an offer for $600.  I told the person no, since there were already other bidders.  It ended up selling for $450 to the person that offered $600.  I didn't get the $600, but I did get the $450 which was 18 times more that I thought it was worth.