I've been a collector of coins and paper money now for about 12 years.I probably have about 98 percent of my collection being coins.I have always wanted to purchase a 500.00 and 1000.00 bill that are certified and are a decent grade.I am currently selling off a lot of my less expensive silver coins of various types to save for this 500.00 bill. my question to all you more educated bill collectors is do you think the prices are too high on the decent graded ones, and do you think the prices will drop any in the near future?
Many collectors are in the same boat as you. Lamenting over the price of high denomination notes. It’s a supply and demand story, and currently they’re in high demand. I don’t see the demand or price coming down any time too soon, if at all.
My dad had a home improvement business when I was growing up. I started collecting coins and currency back in the early 2000's, at which point he told me a story about getting a down-payment check in the mid-80s for a room addition job. The check was 10K or so, and he asked the cashier to put the money into his checking account. She then said, "Are you sure you don't want cash? Some old guy just came in and deposited these." She then showed him 6 or 7 $1000 bills that my dad said "Looked brand new". He got one of them as cash, carried it around in his wallet for a week or so, showed it to friends and family because he thought it was pretty cool, and then took it back to the bank and deposited it. We didn't have much money back then and he needed the cash to buy materials for the job, so I can't really blame him for not speculating. But man, what a missed opportunity!!
Here is my $500 and $1,000 note collection: http://www.panix.com/~clay/currency/500.html http://www.panix.com/~clay/currency/1000.html
I like the ones SteveInTampa showed. They are a bit better than what I might get. Certainly a nice side item for any collection. I don't have either one. But the itch is getting worse.
I haven't checked the prices recently but the big surge in prices for high-denomination bills was during Covid when lots of people got into collecting and the lower-graded bills ($250 - $1,000) were more affordable. I think that PMG-63 or 65 bills probably rose LESS directly than the lower-graded stuff. I don't know about a price DROP but the rate of increase has and should continue to slow.