ozarkflyer1974 Posted March 18, 2007 Report Share Posted March 18, 2007 Ok i have a bill i just got today from cashing a check. Its a 1928 $100 Bill. Serial J00307729A. is this worth anything? I dont know anything about paper money, can someone help? any ideas on its value? Link to comment Share on other sites More sharing options...
gxseries Posted March 18, 2007 Report Share Posted March 18, 2007 Wow, you got a note that old from circulation? Congradulations. The first thing is to determine if it's a counterfeit, especially if it's a note made 80 odd years ago! Posting pictures will be great if you can Welcome to coinpeople by the way Link to comment Share on other sites More sharing options...
San_Miguel98 Posted March 18, 2007 Report Share Posted March 18, 2007 excellent find! the exact value of your note depends on a number of things. namely, the series, district, and grade. for example, your note is either series 1928 or 1928-A. if it's series 1928, there's a number in the federal reserve seal instead of a letter. here's a philadelphia district note listed for sale on a major dealer's site for $190.00. if your note is series 1928-A, there's the more familiar letter instead of a number. these notes come in two different varieties. the treasury seal and serial numbers are either a light green or a dark green. here's a light green seal from kansas city listed for $175: and a dark green seal from philadelphia listed for $160: if you post an image of yours, someone else might be able to look it up for you in a price guide. if you don't have a scanner, not a problem. judging by your serial number, you definitely have a note from the kansas city district. just compare your note to the ones above, and find out if you have a numeral note, light green seal, or a dark green seal. a grade, (condition), would be great too. for example, the notes above are all in an average circulated grade, or between fine - very fine. if your note was wrinkle-free and brand-spanking-new, it would be uncirculated...and would command a much higher value. of course, welcome to coinpeople! Link to comment Share on other sites More sharing options...
see323 Posted March 18, 2007 Report Share Posted March 18, 2007 Wow, you got a note that old from circulation? Congradulations. The first thing is to determine if it's a counterfeit, especially if it's a note made 80 odd years ago! Posting pictures will be great if you can Welcome to coinpeople by the way Something that puzzled me for a while after reading some topics on USA banknotes. Most country currency board or bank practises is to collect back old series currency to be destroyed. New series were issued and circulated. One of the purpose of issuing new series currency is to fight against forgeries with technologies and new security measures. My question is whether USA is collecting back all the old currency ( example 1928 ones ) when they reaches the bank and currency board. There are still old US currency in the circulation. Seems like you can cash a check and receive a very old 1928 $100 bill. If their policies is not to collect back old currency in the ciruclation, collectors will have to fish them out from the circulation. The next question is what is the purpose of issuing new US currency with better securities if the older ones are still being circulated with low securities. Forgeries can still take place currently by producing the older ones which are still valid for use today. Link to comment Share on other sites More sharing options...
San_Miguel98 Posted March 18, 2007 Report Share Posted March 18, 2007 Something that puzzled me for a while after reading some topics on USA banknotes. Most country currency board or bank practises is to collect back old series currency to be destroyed. New series were issued and circulated. One of the purpose of issuing new series currency is to fight against forgeries with technologies and new security measures. My question is whether USA is collecting back all the old currency ( example 1928 ones ) when they reaches the bank and currency board. There are still old US currency in the circulation. Seems like you can cash a check and receive a very old 1928 $100 bill. If their policies is not to collect back old currency in the ciruclation, collectors will have to fish them out from the circulation. The next question is what is the purpose of issuing new US currency with better securities if the older ones are still being circulated with low securities. Forgeries can still take place currently by producing the older ones which are still valid for use today. my understanding is that old currency is only turned in for destruction when they are worn out or in a condition no longer fit for circulation. here's some info from the Federal Reserve Bank of Atlanta: life spans $1 bill about 18 months $5 bill about 15 months $10 bill about 18 months $20 bill about two years $50 bill about five years $100 bill about eight and a half years new notes are introduced as old notes wear out, until eventually the new issues have completely replaced the older series. it sorta works itself out. most old issues are indeed fished out by collectors, so while it's possible to find really old currency in your change, it doesn't happen very often. you can't go to the grocery store and expect silver certificates in change every time you go. but still, it's fun having the possibility of adding to your collection through normal day-to-day transactions. in other countries, the only way to find old money in a coin shop or e-bay. in the u.s., you can just watch your change like ozarkflyer. Link to comment Share on other sites More sharing options...
Scottishmoney Posted March 18, 2007 Report Share Posted March 18, 2007 While large size notes will stick out like a sore thumb, any small size note in reasonable condition can be recirculated by whomever handles it. The only exceptions are $500, $1000, $5000 and $10000 bills which have to be sent back to the Fed. One of the local coin dealers here in town recounted a story of recently buying some $500's and $1000 bills from an older lady whom had been sent to his shop by a kind person at the bank that advised her that she would get far more money at a coin shop for them than they would at a bank. With a $100 bill it would be the same. However for $20 bills, which seem to be common, they are only worth about 50¢ over face value if they are older. Link to comment Share on other sites More sharing options...
jtryka Posted March 18, 2007 Report Share Posted March 18, 2007 The only other exception I know of besides the large denominations are United States Notes, as I believe the Treasury has a policy to retire them when they are received back by the Fed, though there are still more than $100 million in circulation last I read about it. Link to comment Share on other sites More sharing options...
Scottishmoney Posted March 18, 2007 Report Share Posted March 18, 2007 The only other exception I know of besides the large denominations are United States Notes, as I believe the Treasury has a policy to retire them when they are received back by the Fed, though there are still more than $100 million in circulation last I read about it. Yeah, I have probably about $50 worth of United States notes, mostly Twos Link to comment Share on other sites More sharing options...
jtryka Posted March 18, 2007 Report Share Posted March 18, 2007 Yes, I think I have $1, $2, $5, $10 and $100 US Notes, so clearly we both have more than our share! Link to comment Share on other sites More sharing options...
Scottishmoney Posted March 18, 2007 Report Share Posted March 18, 2007 To my best guess there has never been a policy of retiring gold certificates or silver certificates, they are just worth face value to the Government. So it would be possible for me to go and spend my gold certificates, unfortunately the government doesn't honour it's original obligation to give me a $10 or $20 gold piece though Link to comment Share on other sites More sharing options...
jtryka Posted March 19, 2007 Report Share Posted March 19, 2007 For silver certificates this is true after the expiration of the redemption period in the late 1960s (can't remember the date). Gold Certs are a little different, as they were all technically recalled in 1933 and were illegal to own until the 1970s, to me that's far more aggressive of a recall than anything else the Treasury has done. Link to comment Share on other sites More sharing options...
ozarkflyer1974 Posted March 19, 2007 Author Report Share Posted March 19, 2007 excellent find! the exact value of your note depends on a number of things. namely, the series, district, and grade. for example, your note is either series 1928 or 1928-A. if it's series 1928, there's a number in the federal reserve seal instead of a letter. here's a philadelphia district note listed for sale on a major dealer's site for $190.00. if your note is series 1928-A, there's the more familiar letter instead of a number. these notes come in two different varieties. the treasury seal and serial numbers are either a light green or a dark green. here's a light green seal from kansas city listed for $175: and a dark green seal from philadelphia listed for $160: if you post an image of yours, someone else might be able to look it up for you in a price guide. if you don't have a scanner, not a problem. judging by your serial number, you definitely have a note from the kansas city district. just compare your note to the ones above, and find out if you have a numeral note, light green seal, or a dark green seal. a grade, (condition), would be great too. for example, the notes above are all in an average circulated grade, or between fine - very fine. if your note was wrinkle-free and brand-spanking-new, it would be uncirculated...and would command a much higher value. of course, welcome to coinpeople! Thanks- This has a J and looks just like the light green seal. Its in about average shape for a newer $100 Bill. It has a few holes in it, like it was stapled or something..they are small but you can see them. Also it has a little yellow line from a marker...Like the kind they use to check for counterfits. The edges are all good and no tears. It has been folded in half. (maybe by me, I didnt notice how old it was till i looked at the back and saw how weird of a green it is. I have enough collectibles. Any ideas on where i should sell it? If i make 40 or 50 on it I would be happy. Thanks Ed ozarkflyer1974@yahoo.com 816-726-0767 Link to comment Share on other sites More sharing options...
ozarkflyer1974 Posted March 19, 2007 Author Report Share Posted March 19, 2007 This has a J and looks just like the light green seal. Its in about average shape for a newer $100 Bill. It has a few holes in it, like it was stapled or something..they are small but you can see them. Also it has a little yellow line from a marker...Like the kind they use to check for counterfits. The edges are all good and no tears. It has been folded in half. (maybe by me, I didnt notice how old it was till i looked at the back and saw how weird of a green it is. I have enough collectibles. Any ideas on where i should sell it? Here are some pictures. I was hoping it would be worth more. Keeping it around for 80 years and only making the investment back plus $75 doesnt seem like a very good investment so there is no reason for me to keep it. I do collect coins so i might be interested in a trade for silver or gold. (those arent good investments either but i enjoy them) Thanks Ed ozarkflyer1974@yahoo.com 816-726-0767 Link to comment Share on other sites More sharing options...
ozarkflyer1974 Posted March 19, 2007 Author Report Share Posted March 19, 2007 This has a J and looks just like the light green seal. Its in about average shape for a newer $100 Bill. It has a few holes in it, like it was stapled or something..they are small but you can see them. Also it has a little yellow line from a marker...Like the kind they use to check for counterfits. The edges are all good and no tears. It has been folded in half. (maybe by me, I didnt notice how old it was till i looked at the back and saw how weird of a green it is. I have enough collectibles. Any ideas on where i should sell it? Here are some pictures. I was hoping it would be worth more. Keeping it around for 80 years and only making the investment back plus $75 doesnt seem like a very good investment so there is no reason for me to keep it. I do collect coins so i might be interested in a trade for silver or gold. (those arent good investments either but i enjoy them) Thanks Ed ozarkflyer1974@yahoo.com 816-726-0767 For some reason the pictures arent uploading...Maybe the file size is too big, They are 1.3 megs each. Link to comment Share on other sites More sharing options...
Scottishmoney Posted March 19, 2007 Report Share Posted March 19, 2007 ¿Pictures? Link to comment Share on other sites More sharing options...
gxseries Posted March 19, 2007 Report Share Posted March 19, 2007 Ed, you might want to remove your email and REAL telephone number especially if you don't want spammers hitting your email address. Also, there is no need for the other post. You might want to try ebay but under that condition, I'm not too sure if you can expect a lot out from it. At least it's still worth 100USD. Link to comment Share on other sites More sharing options...
ozarkflyer1974 Posted March 19, 2007 Author Report Share Posted March 19, 2007 For some reason the pictures arent uploading...Maybe the file size is too big, They are 1.3 megs each. OK let me try this again...I took it with a phone if you want better pictures email me. Ed Link to comment Share on other sites More sharing options...
thedeadpoint Posted March 19, 2007 Report Share Posted March 19, 2007 Wow! I like the reverse a lot! Personally Ozark, I'd keep her, even if she is worth much more or much less than you expected. It'd be something to look back on one day when cleaning out a room or looking for something to give your kids. Link to comment Share on other sites More sharing options...
San_Miguel98 Posted March 19, 2007 Report Share Posted March 19, 2007 i merged the two posts since they were essentially both the same. the attached pictures were lost though, for some reason. can you repost them please? Link to comment Share on other sites More sharing options...
Johnny 1989 Posted March 19, 2007 Report Share Posted March 19, 2007 What's the difference between a United States Note & a Federal Reserve Note? Link to comment Share on other sites More sharing options...
Scottishmoney Posted March 19, 2007 Report Share Posted March 19, 2007 What's the difference between a United States Note & a Federal Reserve Note? The USA has had the following types of notes: National Banknotes - issued by private banks, but regulated by the government until 1934 Gold Certificates - until 1933 Silver certificates - until 1968 Federal Reserve notes 1914- current issued by the Federal Reserve System United States Notes, until 1966 direct promissary note issued by the Federal Government In the 19th century there were these types National Gold Bank notes, all but one issue were in California - the other in Massachusetts of all places. Refunding Certificates - Interest bearing $10 bills issued until the early 1880's. Link to comment Share on other sites More sharing options...
jtryka Posted March 20, 2007 Report Share Posted March 20, 2007 What's the difference between a United States Note & a Federal Reserve Note? From a practical standpoint, US Notes have red treasury seals and serial numbers, while Federal Reserve Notes have green treasury seals and serial numbers. There are some other minor differences depending on the denomination as well. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.