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oober
1000+ Penny Miser Member
USA
1304 Posts |
 Posted - 12/20/2008 : 12:50:09
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So I was at the bank dumping my 1/2's and the teller told me Someone turned in a $500.00 bill... Being that I am stupid I passed on it. Well I was intrigued and decided to research it. Well it looks like there is some numismatic value to it.
Anyways I went back to the bank and asked if they would sell it too me. After their hesitamce I was able to buy it from them.
And I now have a 1934 dallas $500.00 bill. I have put it in a case already and decided to ask my local dealer about a price.
What would be a decent price for a bill such as this in a VF30 + (could be EF40) condition, also is this something I should get graded?
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WheatieFan
Penny Pincher Member
USA
106 Posts |
Posted - 12/20/2008 : 13:55:46
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If you got a $500 bill for face value, you did well.
I would check eBay's completed auctions for a rough idea of value. I've seen $500s that are in raggedy condition sell for $600 or more. There are also specialized auction houses such as Heritage and Teletrade that deal with coins and currency.
I'm not a fan of the slabbing companies, but I would go for it in this case. The two biggest options for paper money are PMG and PCGS. I looked up the PMG submission price, and it is $40. You must submit through a registered dealer. While you're there, if you make it clear you're not looking to sell immediately, you might get honest advice as to the value. You can research the PCGS prices and process yourself. I would only submit to one of those two companies.
I would take the time to get the bill graded, and not sell immediately. If you need to sell immediately, do it on eBay with good keywords and clear pictures. Do not sell to the first dealer you show it to.
-wheatiefan
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 12/20/2008 : 14:09:00
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Ya I dont think I am going to sell it right away. Especially since it has about the lowest serial numebr I can find out there right now. One with lower in a similar condition sold for 1500.00 approx.
Ser # is K00006351A. This bill is suprisingly in good shape.
Still stoked about picking it up for face. I think the teller will regret giving it up if they google it for value....
Especially now reading Dallas is in the 2nd tier of rarity behind Boston. |
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byro007
Penny Collector Member
USA
399 Posts |
Posted - 12/20/2008 : 15:48:10
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| wow thats an amazing find. I am still waiting to find one of them for face value. |
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kieblera5
Penny Hoarding Member
USA
859 Posts |
Posted - 12/20/2008 : 16:19:28
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| Blackbook for Paper Money lists it for $1000 in VF and $3500 for UNC, but those are the only grades it lists for some reason. |
Democracy is being allowed to vote for the candidate you dislike least.
Never argue with an idiot. They will drag you down to their level and then beat you mercilessly with experience.
Caller number seven gets the Peace Prize!
Get coding tips, tricks, and more at: http://codingmonday.blogspot.com |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 12/20/2008 : 17:14:54
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That is a rather cool find.  Any chance of pics..?
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 12/20/2008 : 18:31:22
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I will work on pics... Good idea. Ok, so can someone make it bigger, I've been working on this for 40min. and I suck at posting pics.
By the way, the scan looks like crap, this bill is not faded at all, ink is nice and dark and fields are slightly discolored. but not faded what so ever!!! |
Edited by - oober on 12/20/2008 19:49:30 |
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natsb88
Administrator
USA
1850 Posts |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 12/20/2008 : 21:36:02
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| Saved the day again Nat. ty!!! |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 12/21/2008 : 10:10:21
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| odd that its a FRN and not a gold or silver cert. but I don't know that much about paper. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 12/21/2008 : 11:50:46
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Well yes not a gold certificate, I did find more info out about it though. It looks like only 31,000 were printed of these(11th district) and only 22 have been graded by PMG....
I'm definitely getting this graded and I expect a min grading of VF25 or better. I am hoping for vf35epq though, that value of this bill could be +$1200.00 then.... Of course thats finding a buyer....
On a side note. my dealer offered $650.00 sight unseen... I didnt even reply, but he did say with some enthusiasm "Thats 11th District!" |
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 12/21/2008 : 13:22:48
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| thats an awesome find |
Inquiring minds want to know |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 12/21/2008 : 18:09:58
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Well been offered $800.00 for it from Currency house, declined it at this time. Crap he's selling a Dallas bill with higher ser number in similar shape for much more lol...
You must be logged in to see this link.
Pretty lowball IMO considering only 22 of these have been graded by PMG (lowest in the series).... |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 12/26/2008 : 08:31:38
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| Wow...that's an awesome find! I am jealous...lol. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 12/26/2008 : 14:45:54
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That is a truly awesome find. Congratulations!!!
Continued success.
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Is the back of this note by any chance printed in orange?
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Edited by - PreservingThePast on 12/26/2008 14:55:03 |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 12/26/2008 : 18:31:56
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| Nope standard FRN... LGS though... |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 12/26/2008 : 22:11:53
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| If you need a sleeve to put it in to protect it let me know. |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 12/26/2008 : 23:23:36
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quote:
Originally posted by Copper Catcher
If you need a sleeve to put it in to protect it let me know.
Already have it protected... That was the 1st thing I did... Thanks though... |
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misteroman
Administrator
USA
2565 Posts |
Posted - 12/26/2008 : 23:35:21
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I was told by my bank here in NY that they had to send back all 500+ bills to be destroyed.
Anyone know if this is true? |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 12/27/2008 : 00:03:05
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Yes it is true, but I think if the bill is still in the drawer it's not "oficially" in the bank... $500.00 could be 5 100's. Not until the drawer is closed, is it noted to contain a $500.00 bill...
At least that's one of the angles I played....
I've talked to 2 dealers who has told me they have some bankers who will let them know if a bill comes in...
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 12/27/2008 : 21:09:20
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quote:
Originally posted by misteroman
I was told by my bank here in NY that they had to send back all 500+ bills to be destroyed.
Anyone know if this is true?
I read somewhere that all $500.00 bills sent back by banks are automatically destroyed. What a shame. |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 12/29/2008 : 09:44:25
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| It's only paper. The Fed just pays out 5 new crispy $100 bills. |
Trust the government? Ask an Indian. |
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 12/31/2008 : 16:53:18
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| If I were you I'd try checking ebay to see what the price ranges are for that bill. If none, try to find a coin show in your area and take it there. A coin store would be a decent place to ask but for sure don't say you want to sell it. Just say you want an estimate of value. If you say you want to sell it, you'll get a really low price. |
Carl |
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Hirbonzig
Penny Collector Member
USA
451 Posts |
 Posted - 01/21/2009 : 10:39:50
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Congrats on the find Oober!! I asked a few banks about high denoms and got the "yeaaaa shure we'll call you if one comes in", knowing as I walked out I'd never get a call. I think most tellers are smart and do filter out the valuable stuff. A teller at my hometown bank weeds out star notes and older FRN's all the time. |
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Ran into a $500.00 bill
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