How to Find Out What Old US Money Is Worth
If you have a drawer full of old currency, you might be sitting on more money than you realize. Old currency can be very valuable as a collectible, and evaluating the condition and value of your own currency is the first step toward getting a good return on your investment.
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Instructions
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Evaluate the condition of your old currency. As with so many collectible items, condition is a key factor in determining how much a piece of old currency is worth. Currency in true uncirculated condition is the most valuable. This type of currency has no folds, tears or blemishes. An uncirculated bill will have the same overall appearance as a brand new dollar bill from the bank.
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Check your local newspaper for coin and currency shows in your area. Attending a rare coin and currency show is a good way to meet with many different collectors and dealers at once. Bring the currency you wish to have evaluated to the show, and ask each dealer for a written estimate of its value.
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Pick up a current guide to currency values while at the show, or purchase one at a local bookstore. Make sure the guide is from the current year, since the value of collectible currency can change rapidly.
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Contact several coin and currency dealers in your area and make an appointment to have your currency evaluated. Compare the value estimates and offers you receive from each dealer.
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Log on to several online auction sites and check the final selling price for currency similar to the pieces you have. Make sure you compare items in the same condition as the ones you have to offer.
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Tips & Warnings
Seek out individuals who are experts in the type of currency you have to sell. For instance, if you have a great deal of Confederate money you might turn to the docent of a Civil War museum or an expert in the era. For older U.S. currency a coin shop owner, or even a pawn broker, could be a valuable ally.
Watch out for scam artists who tell you your money is worthless, or offer to buy it at a lowball price. Getting several different estimates of the value of your money is a good defense against those scammers.
Never sell your money to the first person who makes an offer. Shop around for the best price.
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