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did i get ripped off?


jsbach_fan
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okay,well i had a nice collection of 2$ bills from the 1990's as well as a crumpled 20$ bill from 1954 and a few 1$ bills.. basically had 80$ worth of discontinued old bills (mainly the more recent ones)

 

anyways, i was a bit desperate for cash cause i had to pay rent, so i brought my old bills to some currency exchange store and they said it was only worth its face value, since it wasent a complete collection and they were not in mint shape. The guy in the store told me it was not worth more then 80$. Anyways, a few days later i have a talk with one of my friends who tells me i got badly ripped off cause old bills are worth considerably more... even goes on to name a place at the local mall where they would have bought bad condition 2$ bills for 5$ each :ninja: (i dont even know if this guy is telling me the truth, afterall what kind of collector buys bad condition bills?)

 

was i ripped off that badly? i mean all the bills were in used shape and most of them were wrinkled and dirty... just cant get over the fact that guy might have scammed me.. i dont care if its a few extra bucks but if i could have got more then double (like my friend claims), id be quite annoyed

 

thanks in advance

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Circulated $2 bills from the 1990s timeframe are worth $2 each in general. If you have a rare serial number of a bill with an error you might have something with a little more value. Not too likely.

 

I'm not a currency expert but I'm not aware of a series 1954 $20.00 note. So I have no idea of the value there. The Amos PaperMoney Values does not list a series 1954 $20 note either.

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Ditto what Art said.

 

Canadian 1986 series $2 notes (issued until 1996), if from a common signature/prefix combination (which most are), are usually worth (retail) $5 in uncirculated (mint condition) and $3 in about uncirculated (one fold). Anything with more wear and tear is generally worth face value only.

 

As for a 1954 series Canadian $20 - most dealers would not buy a circulated note as the premium is virtually nil. Cataloue value for a common variety is $22 in fine condition.

 

If your notes were well circulated, then they were pretty much worth face value.

 

As an aside, a currency exchange shop generally is not a place to bring old money - their job is to exchange money, not buy and sell collectible money.

 

P.S. - I would be more than happy to sell circulated 1986 series $2 for $3 apiece, let alone $5!

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was i ripped off that badly? i mean all the bills were in used shape and most of them were wrinkled and dirty... just cant get over the fact that guy might have scammed me.. i dont care if its a few extra bucks but if i could have got more then double (like my friend claims), id be quite annoyed

I think your friend doesn't know what he is talking about. Just because a coin or note is obsolete does not mean that it is "rare" or hard to find.

 

(i dont even know if this guy is telling me the truth, afterall what kind of collector buys bad condition bills?)

Bingo!

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