The definition of "common" may also not be typical with National Bank Notes, as a note from a bank with only a couple of dozen notes known may be considered "common." This is because, while there only may be a limited number of notes known from a specific bank, more than 14,000 National Banks were chartered to issue these notes, and no single collector can reasonably hope to own them all. Most National Bank Notes are relatively inexpensive, although the range in value is quite large. Paper Money (1928 to date), by Dean Oakes and John Schwartz, is recommended for more information. All Star Note Federal Reserve Bank Notes are scarce. Most Federal Reserve Bank Notes are common, although all notes issued from the Dallas bank are rare and some from other district banks are scarce. National Bank Notes are from other banks with titles such as "The First National Bank of." or the "National Bank of." or the "National Trust and Savings Bank of." or other such titles.
If it is from a bank entitled "The Federal Reserve Bank of." and is from one of the 12 District Federal Reserve Banks, it is a Federal Reserve Bank Note.
#MYMONEY 3 SERIAL SERIES#
"National Currency"-National Bank Notes or Federal Reserve Bank Notes The difference between 1929 series National Bank Notes and Federal Reserve Bank Notes is rather subtle, as each is called "National Currency" above the portrait and each bears a brown Treasury seal, but they can easily be distinguished by the bank name to the left of the portrait. The moral is, of course, that if you are "hanging on" to high denomination notes in the hopes that they are a good investment and will be worth much more one day, history is not encouraging. In fact, the return on $5,000 and $10,000 bills is very poor compared to other investments-yes, even the stock market, where despite the bear market of the last couple of years, $5,000 or $10,000 invested in stocks when these notes were printed would be worth many multiples of what these notes are now worth. Anyone would have fared much, much better by depositing the $500 or $1,000 in even a low-interest savings account in the 1940's or 1950's when these circulated, as the return would have been much higher than on a $500 or $1,000 bill. All Star Note high denomination bills are very rare, and $5,000 and $10,000 bills are worth much more than face value unless they are damaged, and we would suggest consultation with one of our currency experts if you possess one of these notes.Īs an aside, it is interesting how poorly high denomination notes have performed as an investment. Uncirculated $500 and $1,000 bills are quite desirable, although they are usually worth no more than twice face value. The 1928 series usually carries an extra 10% to 20% premium. Circulated 1934 series notes are usually worth from $500 to $800 for the $500s and from $1,000 to $1,400 for the $1,000s, depending on condition.
$500, $1,000, $5,000, and $10,000 Federal Reserve Notes Most $500 and $1,000 bills are quite common, and are typically worth only a small premium over face value.