A currency question...

doereme

My son works at a Country Fair store. Today he came home and said he got a good find in the register and naturally I thought OH BOY !! a good coin. But out of his wallet he pulls this 20 spot in really nice shape i.e. no folded corners, no creases, a couple minor fold marks but nothing a good heavy book won't take care of. It is a 1934 series Federal Reserve Note from the bank of Cleveland Ohio.Inside the circle is a big "D" the treasurers signature is something like W. A. Julian and the secretarys sig. is Henry Morganthan Jr. Does anyone here know if this note has any value above face, or should I tell him to go ahead and spend it ? thank you for any help you can provide.... Pat

Placid

Asking in the U.S. & WORLD CURRENCY FORUM might be best.

doereme

Placid,lol..tried that once on another note I had a question on and no one would reply to my post so I reposted on this forum and had several replies whith in a couple hours or so.Hey,these guys know things. Thanks,Pat

jtryka

Old FRNs are neat, but not very valuable unless they are really crisp and have never been folded. There are some series where the signature combo can make it valuable, but I don't think this is one of them. They way I deal with the old FRNs I get is that I generally save them if they are the cool ones that say the US will "pay to the bearer on demand..." and have the neat disclosure above the seal that says it is "legal tender and redeemable in lawful money..." I always get a kick out of that one (wonder why they stopped using that? ) So, I think is might bring a small premium over face, but my guess is that if you go to sell it, the dealer will tell you to spend it (but I say save it because it's a neat piece of history). You should also check out the eBay listings for currency and you will likely find a similar one and get an idea if it is one of the rare ones. Heck, you could even sell it on eBay and you might get a little out of it, sure beats spending it.

Placid

I don't get this price ($17.50 for a $20 bill) but it seems close to what you have but poorer condition.

Link

LanLord

<< <i>I don't get this price ($17.50 for a $20 bill) but it seems close to what you have but poorer condition. Link >>

This seems like a good place to use a reserve, but who am I to question their motives

jtryka

I take it all back doereme, them old bills aren't worth anything anymore, but I'll give you $17.50 for it! Actually, since that auction charged $3 for shipping and they are likely going to send it in a #10 envelope with a stamp, they probably didn't get hurt too bad.

wallstreetman

jtryka is correct, and believe me, a dealer will see a fold that you cant. I will try an find the name of the guy who is the PCGS of currency grading, I have a card somewhere, he looked at a $100 certificate of mine a couple of years ago at Long Beach!

coynclecter

<< <i>I will try an find the name of the guy who is the PCGS of currency grading, >>



Actually someone with grading experience would be prefered

cdmead

A series 1934 note is basically worth face value unless it's a star note (there will be a star at the end of the serial number) or really really really nice.

The guy selling the one on eBay got messed over because he let his marketing overload his butt. There is no such grade as "choice;" it's used as an adjective with other grades. The note itself looked Fine at best to me. Also, don't let his bull about sending the note to a third party grading service fool you. Currency doesn't lend itself to third party holders because feel and smell (yes, smell) all play a part in the grade. As such, third party grading isn't widely accepted yet.

Personally, unless I needed the money badly, I'd keep the note. It (at least right now) will never be worth less than $20 and maybe in a 100 years or so could be worth a lot more if no one is saving them.

Charlie

PS After reviewing the Ebay auction, I'm calling a shill alert. The winner has won lots and lots of this guy's auction - always for stuff that's probably cheaper than it "should" sell for.

doereme

OK !!....thanks a lot guys. I knew I could count on yuns to enlighten me.Now if I can just get that 20 from my son for $17.50 ... ...Pat

Conder101

PCGS doesn't do currency. If you want currency grading try CGA or CGC. But I agree with the others a 1934 FRN isn't worth much over face if it is circulated at all.

Whitewashqtr

Oakes and Schwartz book "A Standard Guide to Small-Sizer U.S. Paper Currency" lists these notes in VF for $30.00. CU would run you $85.00. For $20.00 how could you go wrong. In another 65 years it might even double.

I would give you $20 for it!!

wallstreetman

If anyone thought that I said PCGS offers currency grading, READ IT AGAIN! I did get refered to the guy by PCGS though!

Steve27

Last May's Coins magazine has it for $25 in F, $30 in XF, and $40 in CU (crisp uncirculated). Every May Coins has an expanded price guide which includes most US paper money (flat coins).

Flash

You $20 bill is an FR2054-D (Paper Money of the United States by Friedberg & Friedberg (16th ed.), pg. 186. 48,301,416 of them were produced beginning on February 2, 1935. There is no record of the final printing date, but it had to have been sometime prior to July 22, 1945 since that is when Julian & Morganthau's combined tenure ended.

It may not be rare or valuable but, for me, it would be a keeper just for the sake of its coolness.