Just curious to all the currency collectors here. Where do you draw the line for holding circulated bills based on their age (first) then condition.
Personally, I save anything (based on age) series 1995 and older, for $5's - $20's, any condition. I usually don't save $50's or $100's, at all. Nice notes I will save for my collection, beat up ones will be set aside in my trade/emergency cash pile, usually to eventually be spent on nicer notes for my collection (or gas & groceries if I'm having a slow cash flow week). Series 2001 and older for $1's (one caveat to this: any series 2001 or 1999 $1 that I save needs to not be heavily circulated, if it is, I throw it back). The same applies to condition for notes added to my collection, vs. the trade/emergency pile, for series 1995 and older. For $2's, I don't save them unless it's a series or block I don't have yet (I'm an avid $2 bill fan/collector). Saving circulated notes is all based on personal prefrence. No two people are going to agree on a specific "cut off" for age, and some are more forgiving as far as wear and tear from circulation, than others. However, it is interesting to me, to see the differing viewpoints on this topic.
I put condition first. For instance, on a different thread I saw a 1963B $1 "Barr" note in terrible shape. Some collectors will squirrel these away because of series date, or because it's a "Barr" note, where I will not. The basic design of most modern-era (1963-1995) notes has stayed the same for this 30 year period, and usually what makes some notes more collectible, to me, is the rarity of the surviving low print runs (mostly star notes) and being in uncirculated condition. A circulated 1977 $1, $5, $10, $20, $50 and $100 are all spenders to me unless it's a rare star note that I don't already own. Just my opinion.
I will hold all star notes unless it falls into VG quality or below. As for earlier series of regular notes, I only hold them if they meet XF or higher standards. I will not hold onto a note simply because it is an older design if there isn't any sort of premium attached to it.
I save interesting notes with minor collector value such as circulated star and Barr notes for awhile but if they add up to enough face value that using them for a coin that I want more than the currency, I'll part with it. The coin I purchased will probably do better appreciating in value than the notes. It's hard to part with nice attractive notes tho. I keep my stack short.
I just found and spent 2 bills from 1985 and 1990ish. Both weren't in great condition. Thanks for the tips. I haven't held onto star notes but I'll consider it now. I am a sucker for the older varieties 1980 and older, and before 1970 I tend to keep regardless of condition.
I keep all before 1963, unless they are red seals or uncirculated or star notes in better grade. I have dozens of banks on the prowl for me, it helps that I give them incentives to find stuff for me.
