I had read somewhere online that a $500 bill with a star at the end of the serial number would be worth more then a $500 bill without a star. The reason being this were only made at certain locations. Does anyone know if that is true, and if so, approximately how much more of a premium could that bring (I know the condition of the bill will certainly have some say in that)? Thanks for the help everyone.
almost all denominations followed by a star are worth more money than a non star note. all notes are printed at 2 different locations. there are 7 different federal reserves that have notes printed for them. it really depends on the print run how much the note will be worth. so without knowing the district it is hard to say what the note could be worth. bottom line star notes are the ones to get. especially in such a high denomination
Thank you for the information it is greatly appreciated. Not that I'm able to go buy $500 bills at this time, but the more I read things on this forum,the more I'm interested in collecting different types of currency and I'm trying to learn some things ahead of time. Thanks again for the great information.
Star notes are also known as replacement notes. Replacement notes are used to replace notes that are found to be defective after the serial numbers are applied. A sheet of notes with stars will replace the defective sheet of notes. The star notes have their own serial numbers which are not related to the numbers on the notes they are replacing. There are fewer star notes than regularly numbered notes so they are more scarce. This is why a star note may be worth more. It has nothing to do with where the notes are printed. Prior to 1990 all notes were printed at the BEP in Washington. In 1990 the BEP opened a printing facility in Fort Worth and notes are printed in both locations. Notes printed in Fort Worth have a small FW near the plate number. Since $500.00 notes were last printed prior to 1990 all of them were printed in DC. Finally, there are 12 Federal Reserve Bank locations for which notes are printed, not 7. They are represented by letters and numbers. A-1 Boston B-2 New York C-3 Philadelphia D-4 Cleveland E-5 Richmond F-6 Atlanta G-7 Chicago H-8 St. Louis I-9 Minneapolis J-10 Kansas City K-11 Dallas L-12 San Francisco
Really great information, thank you for sharing. Do people tend to find any of the lower denomination star notes in circulation? I honestly do not think I have ever seen one with a star on it.
I had read this article online http://finances.msn.com/saving-money-advice/250416951 It says that if banks receive the higher denomination bills ($500 and higher) they destroy them. Do you think this is true, or do you think banks keep any of the higher denomination notes?
I find star notes in circulation from time to time. Maybe one note out of two hundred or so. Mostly twenties, followed by ones. I save them all, but from what I understand most aren't worth a premium if circulated.
the banks themselves do not destroy them. they would be sent to the federal reserve and they would destroy it. when i worked at a bank i had one customer bring in a couple of $500 notes. they wanted to deposit them. being a collector myself i explained to the customer that they were worth more than they face value and would make more money selling them. they said thank you and left.
Hi mill, that is good to know. I'm figuring the best ones are already put away somewhere and I would have to pay a premium to get them. Definitely something to think about for the future though.
Ahh gotcha, that makes more sense. I think it's great you told them about the value of the bills. I think some people would not have done that.
it all depends on the year and district. there are low print run star notes that could still have some value in circulated condition.
It's funny how things happen sometimes. Just thinking about big notes today, and I found this article online about a 1918 $1,000 bill brought into the store on Pawn Stars. http://www.huffingtonpost.com/2013/...d=maing-grid7|main5|dl4|sec1_lnk3&pLid=266026
I get a kick out of the part of the Huffington Post article that says it was sent to the Federal Reserve for grading. If it were sent to the Fed they would have destroyed it.
It's worth a bit more than $7,000. Two Chicago districts, both graded VF25/Net sold for $9,775.00 and $10,925.00, in 2011 and and 2009 respectively. http://currency.ha.com/c/item.zx?saleNo=3513&lotNo=17241 http://currency.ha.com/c/item.zx?saleNo=3504&lotNo=15518 I guess the holes in the note will detract from the price, but I wouldn't call it $7,000.00 Anyway, getting that beast of a note for $2,500 is a steal. I see small size 1934 $1,000's go for that much on eBay and not always better condition.
What makes you say that they didn't actually buy it? They have a large inventory of currency as a matter of fact. I suppose they didn't buy any of that either. . .
Pawn Stars and the like are 100% scripted nonsense. Add in Storage Wars and their ilk to that as well. I guarantee you that note never changed hands at the facility.
