Thinking of dabbling in high denom currency

[coindood]

I've always wanted to own a $500 or $1000 US FRN. Has anyone done this? Expecting to pay roughly 2x face for encased, graded examples. Curious if there's a market should the novelty wear off in a few years and I decide to sell. Any insight?

[Recyclersteve]

Buying something because you think it would be cool to own is one thing, but I wouldn’t expect to make money on $500 or $1,000 notes. I got a $500 note in 2009 (inherited it and it wasn’t certified)- a pretty cool thing to inherit. I’d be surprised if I could get any more now for it than I could back in 2009. With inflation I would have been better off selling as soon as I got it. Good luck with your decision.

P.S. With anything that isn’t actively bought and sold I would expect Bid/Ask spreads to be quite large- I’d guess somewhere in the 25-40% range.

P.P.S. At some of the bigger coin shows (Long Beach and FUN shows, for instance) you might see 2-3 currency dealers per show.

[TXSTARFIRE]

I am watching this thread because I have always wanted a high denomination note as well. It would just be fun to have one.

[coppernickel]

I have bought more for fun recently than in a very long time. I most recently bought the entire Presidential Dollars set. Something for me.

[coindood]

... I have always wanted a high denomination note as well. It would just be fun to have one.

Exactly.

Of all the coin shows I've been to, I tend to pass by the paper money sellers. And I don't think I've ever seen one for sale here.

For me it would be sentimental too. Most high denom bills were last printed in 1934, the year my late Mom was born.

Plus they're cool conversation pieces. Most people don't even know about bills higher than hundreds.

[highroller4321]

$500 and $1000 have been pretty popular lately. You used to be able to get a low grade damaged $500 for $550 or so but now even the crappy ones are $600-650. You can expect to pay $800-900 for a low grade problem free $500 and $1800+ for a low grade $1000 note.

I think there value should be relatively stable because there are lots of people who just think they are cool and just want to own one.

[coindood]

Those are the prices I've encountered so far. Even more for graded examples.

There's a coin show here in May where I hope to nab one, and perhaps negotiate down a bit.

One thing's for sure - no way am I buying an ungraded one from eBay.

[highroller4321]

Those are the prices I've encountered so far. Even more for graded examples.

There's a coin show here in May where I hope to nab one, and perhaps negotiate down a bit.

One thing's for sure - no way am I buying an ungraded one from eBay.

If you have a grade and price point I would be happy to help try to find one.

[coindood]

Those are the prices I've encountered so far. Even more for graded examples.

There's a coin show here in May where I hope to nab one, and perhaps negotiate down a bit.

One thing's for sure - no way am I buying an ungraded one from eBay.

If you have a grade and price point I would be happy to help try to find one.

I appreciate that, Adam.

If I were an impulse buyer, I'd say find one of both with a budget of around $4k, which is really tempting.

I think I'll wait until the May show. 200+ dealers should have something. But should that pan out I'll for sure take you up on the offer, thx.

[coindood]

Around the time of the last post I was very close to pulling the trigger on an eBay purchase, but it just didn't seem like the right time.

Now, with the COVID-19 uncertainty seemingly growing each day, I'm glad I held on to my discretionary funds.

Plus, not only could coin shows start being cancelled, but businesses may initiate closures for brief periods.

Not a bad idea to have some ready cash.

[Recyclersteve]

Around the time of the last post I was very close to pulling the trigger on an eBay purchase, but it just didn't seem like the right time.

Now, with the COVID-19 uncertainty seemingly growing each day, I'm glad I held on to my discretionary funds.

Plus, not only could coin shows start being cancelled, but businesses may initiate closures for brief periods.

Not a bad idea to have some ready cash.

I can just imagine some enterprising dealer putting coins from a highly infected area (such as Italy) into their own separate box, marking the price down, and calling it a COVID-19 sale.

[fasteddy]

I sold a pickup in the 80's...in the cash was a $500 note. Sold that note for $750... Today I would have kept that note, back then it was nice to get the extra 250 bucks.

[Know Common Cents]

Pretty lofty territory for a bantam high value note collector like me. There are too many possible deal killers that I may be unaware of to take the plunge into these notes. Give me an equal amount in AU or AG and I'll be quite happy.

[coindood]

Pretty lofty territory for a bantam high value note collector like me. There are too many possible deal killers that I may be unaware of to take the plunge into these notes. Give me an equal amount in AU or AG and I'll be quite happy.

Believe me, I'm learning as much as I can too. Pinholes are an issue apparently. Who knew?

If our May coin show still happens this $1200 stimulus check will be put to good use, either for a $500 FRN or old gold.

If the show folds, I'll ask highroller for some assistance. We shall see.

[highroller4321]

I have access to a $1000 Bill in VF condition. The note has unfortunately been laminated though! This means it basically has plastic over it that can’t be removed. If anyone is interested please let me know. Will probably be around $1600 but I’ll need to know by tomorrow. PM me if interested.

[coindood]

I have access to a $1000 Bill in VF condition. The note has unfortunately been laminated though!

Dang! If it wasn't for that I'd give this serious consideration.

Our local May coin show was postponed until Aug but my priorities are still either a $500 or $1000 FRN.

Thx for keeping this in the back of your mind.

[JadeDragon]

Bought two $1000 Canadian notes at face value off a TD branch. Different versions one 1967 I think and the other from the bird series (1980's). Tucked them away somewhere... now can't find them. Cool to own and I'm sure they are safe. Normally they are sent for distruction.

[AGgressive Metal]

Tucked them away somewhere... now can't find them. Cool to own and I'm sure they are safe. Normally they are sent for distruction.

Make sure to screen anything you or your wife takes to charity

[coindood]

Came close to pulling the trigger on a $500 FRN at a coin show this weekend. They had two nice PMG 40 graded examples but at $2200 apiece, it was more than I planned on spending.

The same dealer also had two $1000 notes AND a high grade $5000 bill. I rarely see that last example even on eBay. Didn't ask but I imagine it had a price tag of around $40K.

[Recyclersteve]

I have an alternative that is different, but still cool and WAY LESS EXPENSIVE!

Consider buying the Zimbabwe hyperinflation notes. They’ve got probably 20-30 denominations and the biggest is a whopping 100 TRILLION DOLLARS! It goes for about $120 on eBay. I keep one in my wallet as a conversation piece. It isn’t crisp, but I have others that are. Wait til you see the look on someone’s face when they see it!

[coindood]

I have an alternative that is different, but still cool and WAY LESS EXPENSIVE!

Consider buying the Zimbabwe hyperinflation notes. They’ve got probably 20-30 denominations and the biggest is a whopping 100 TRILLION DOLLARS! It goes for about $120 on eBay. I keep one in my wallet as a conversation piece. It isn’t crisp, but I have others that are. Wait til you see the look on someone’s face when they see it!

I've considered that and those are pretty cool, but I ultimately ruled it out. For some reason foreign bills don't hold a fascination with me like foreign coins do.

Just noticed that APMEX deals in high denoms. Right now they even have a $10,000 bill available for a mere $200,000.

[Klark Cent]

My dad gave me a $500 bill for my high school graduation.
Then later he bought it back from me because he liked it.
He died 34 years later and I inherited it.
I still have it.

It's not graded or anything and is in pretty poor condition.
I guess Al Capone and his buddies circulated the hell out of it.

[Recyclersteve]

My dad gave me a $500 bill for my high school graduation.
Then later he bought it back from me because he liked it.
He died 34 years later and I inherited it.
I still have it.

It's not graded or anything and is in pretty poor condition.
I guess Al Capone and his buddies circulated the hell out of it.

So you’re dad was Al Capone? (Just kidding)

[coindood]

Finally committed myself today. Got this at one of the larger local semi-annual coin shows. Very nice dealer who said I could trade up with him for a nicer bill in the future. It's an ungraded 1934 series with a tiny triangular chip below the E in hundred. He wanted $1400 but agreed to just over 2x face. I'm happy with it.

[Lemon Thrower]

You should make that your avatar, even though its not a coin, dude.