How To Spot $5 and $10 Bills Worth More Than Face Value
If you have older $5 or $10 banknotes in your home, you might wonder if they are worth more than their face value. The answer, according to experts, is sometimes. Surprisingly, it’s not always the age of the bill that determines its value.
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“We’ve paid thousands of dollars for a 1953 $10 bill with a rare serial number, and a few bucks for an old $10 bill from the 1800s,” wrote the pros at OldMoneyPrices.com on their website. The same, they wrote in another post, goes for $5 bills.
But there are a few indicators that your $5 or $10 bill could be worth more than you think. Typically, similar guidelines apply for either denomination.
Types of Banknotes That Could Be Worth More Than Face Value
First, let’s look at the different types of banknotes that could be worth more than face value. While other bills with rare serial numbers or errors may also be worth a hefty sum, the bills below are almost always worth more than face value.
Gold Seal Gold Certificate Notes ($10)
OldMoneyPrices.com said they pay $50 to $100 for these gold certificates, although they could be worth hundreds in excellent condition. Prior to 1934, you could bring this bill to a local bank and receive actual gold in exchange.
Brown Seal National Bank Notes ($5 and $10 denominations)
Made in 1929 and 1934, these $5 and $10 bills have brown seals and the name of the issuing bank. They might be worth three to four times their face value, or thousands of dollars, OldMoneyPrices.com reported. ValueofCoins.org reported the value of 1Bro934 Brown Seal $5 bills from Hawaii at $2,000 to $6,000 if they feature a star and $250 or up in uncirculated condition.
Yellow Seal North Africa Notes ($5 and $10)
ValueofCoins.org wrote that North Africa Yellow Seal $5 bills can go for $300 and up in uncirculated condition, and $400 to $1,850 with a star. These bills were printed in 1934 to “combat pre-WWII tension,” according to ValueofCoins.org.
OldMoneyPrices.com said that $10 Yellow Seal North Africa Notes are equally hard to find and, because of that, often have value to collectors. Again, look for bills with a star next to the serial number.
Blue Seal Silver Certificates ($5 and $10)
Blue Seal Silver Certificates in $5 and $10 denominations aren’t usually worth much more than their face value since they are fairly common. ValueofCoins.org listed the price at $6 to $50 for a $5 bill.
However, banknotes meeting other criteria, such as errors or unique serial numbers, can drive the price up to hundreds or even thousands of dollars.
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Factors That Drive Up the Price of Old Bills
Now, let’s consider the different elements of your old $5 and $10 bills that could make them worth more money, regardless of the type of bill.
Keep in mind, if you have one of the bills above, with one or more of the characteristics below, you could have a winner, worth hundreds or even thousands of dollars.
Printing Errors
Bills of any denomination with printing errors tend to be worth more than face value. Mistakes may include off-center prints, mismatched serial numbers, overprints, wrinkles, or miscut bills.
Stars
A star next to the serial number of a bill indicates it was printed to replace a bill with an error. As such, these are extremely rare. “A star may instantly double the highest value of the note,” wrote ValueofCoins.org.
Low Serial Numbers or Solid Serial Numbers
Any banknote with a serial number of 1 through 9 will tend to be worth more than face value. Bills with solid serial numbers, or all the same number across, also tend to go for more money.
Condition
If your bill meets any of the factors above, such as rare serial numbers or printing errors, you’re likely to get more than face value when you sell it.
But the condition of your currency has a huge effect on its price. Any banknote in uncirculated condition will re-sell for more than a similar bill in fair condition.
Professionals use the PMG (Paper Money Grading) scale, with values up to 70, to determine the condition of a bill.
Collectible grades range from “good” up to “choice uncirculated.” But a “good” bill may not be worth much more than its face value, especially if it has parts missing or is very worn.
Rarity and Market Demand
Even a bill that’s very severely worn could command a profit if it’s extremely rare and in demand from collectors. For instance, OldMoneyPrices.com showcased a $10 silver seal bill with the serial number of “5” issued in 1933. While silver seal $10 banknotes don’t usually carry a high collectible value, this one does because of its rarity and the online dealer said it would pay $10,000 or more for the note.
Ask an Expert
This article can provide a guide to see if it’s worth selling some of your old currency. But it’s best to consult with a professional you can trust to evaluate your collection so you can be sure you’re getting fair market value when you decide to sell.
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This article originally appeared on GOBankingRates.com: How To Spot $5 and $10 Bills Worth More Than Face Value
