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I have been seriously considering on purchasing a $500 bill but before I drop some money on a duly derserving note there are a lot of things that I'd like to learn about them. However I am uncertain about where I should begin to do my studying.

1: I believe that the grading service I need to go to, to learn about bill grades is PBGS. Is there another source?

2: From a recent thread someone was talking about mints that are basically better than others. Is there someplace to learn what the various mintage or printing rates are?

I'm so green on this topic that right not I probably don't know what the right questions I should be asking are. The one thing that I know for sure is that I need to educate myself before I walk into my LCS (who has $500 in stock) and ask for a lesson from him. I mean I trust the fellow, but I know I need some free education before I pay an education.

Any and all suitable advice is more than welcomed.

PMG (Paper Money Guaranty - the paper money division on NGC) is also a good and reliable service. As for print runs of old notes, there really isn't any reliable data that I'm aware of before 1976. The last series of $500 FRN's was 1934A which was delivered to the Fed around 1945.

Numbers and the signatures drives the price of paper. Consecutive numbers or a poker set of numbers and combo's of numbers that looks appealing can increase the cost....Also the Signatures of the Treasurer and the Secretary of the Treasury will drive the price...usually the shorter the term(Treasurer or the Secretary) the less printed the paper. Obviously the condition is the most important part, the bill is centered, the color is not faded, look for rips, tears, rounded corners, creases, folds all of these conditions will knock a note down alot of notches ...hold the note to the light and check for pin holes..if it is graded then this is done but check anyway. I sold a truck in the middle eighties and one of the notes was a $500...sold it to the LCS for $700. Good study and good luck!

I saw a $500 note this past weekend at a gun and knife show....it was priced at $1250.

also the most important thing to look for are tiny pinholes. That seems to be the biggest killer of value.

I would give you the following advice...

A). If all you want is a $500 bill, get one in "reasonable" condition. I've seen these for as little as $600 or so.

B). Try to learn what years & banks are the most valuable on the off chance that you see something mis-priced.

C). If all you want is the note, try & get one as cheap as possible. Don't worry about the rarity or value.

D). If you want to get serious later on, you can also pay more for a better grade, or rarer issue. Start off as cheap as you reasonably can.

If you want a cheap $500 bill this is probably as low you will see one $595!

1934 (L-San Francisco) $500 FRN (Fine Details)
http://www.apmex.com/Product/70506/1934 ... ails_.aspx

For a nice condition bill that's a great price!