Paper Money Buyers Rochester, NY
Sell Your Paper Money
Paper money has been around for a long time since it was used by the Chinese in the 7th century AD. Paper money has been issued in different parts of the world in different forms over time. Just like rare coins, rare paper money is valuable as a collectible item. How do you know if the old paper money in your hands is valuable?
Types of paper money
To many people, paper money means legal tender currency (paper dollars). This is partially true. Apart from paper dollars, paper money has existed in other forms such as gold certificates. Some of the valuable paper money in the US includes;
• Legal tender – these are notes that have been declared common currency at one time or another. In the US these notes had red seals
• Treasury notes – These are notes that have been marked ‘Treasury Note’
• 1914 red seals – federal reserve notes issued in 1914 for a short time
• 1914 blue seals – Federal Reserve notes issued in 1914 with a blue seal. Those with a star symbol are rare and valuable.
• 500 dollar bills – Those with serial numbers under 100 are rare
• 1,000 dollar bill
• 1918 Federal Reserve note issued from 1915-1918. Some have 1914 on them
• Demand notes
• Refunding certificates
• Gold certificates printed between 1863-1928
• Silver certificates
• Brown seal Hawaii notes
• North Africa notes which have a yellow seal and blue overprint
• Foreign notes
Most dealers will also take notes from other countries such as the Bahamas, Barbados, Canada, Grenada, Hawaii, Jamaica, Hong Kong,
The Leeward Islands, Palestine, The Philippines, St. Lucia, Trinidad and Tobago, Bermuda, British Guiana, British Honduras, Turks and Caicos, and Zanzibar.
Paper money has 4 kinds of values.
• Book value – what the retailer could sell it for. This is with reference to the Standard Catalog of World Coins
• Buy price – what the dealer will be willing to offer
• Retail price – what the dealer could sell you the bill for.
• Wholesale price – the price one dealer offers another for bulk notes.
The value of paper money depends on a number of issues;
• Rarity – how many notes are in circulation?
• Condition – is the note good as new or tattered?
• Demand – how many people are after the note?
The issuance of the note will also weigh on its value.
• Was it general issue or commemorative?
• Who was the issuer? Is it a Federal Reserve note, Treasury note or what?
• What is the date of issue?