My mother-in-law passed away several years ago. She had 3 (three) 1934 $1000 bills in her home safe. I tried to take them to my personal bank and was told there would be a 7 to 14 working day hold, while they were sent to the Federal reserve. The teller also said they would only be able to give me face failure, and they would be worth more to a collector. I've looked on the web and the value is based on a grading scale. How do I go about getting them graded? I know they are not in great condition cause she had them folded in thirds but I would still like to find out what I'm looking at in value. Thank you for any help and guidance you can give me. Steve P.S. I'm in southern California if that makes much difference closer to San Diego than L.A. But not by much. Thanks once again
You may want to consider posting some pictures of the Notes to this website. There will likely be opinions about whether the Notes are worth being graded (depending on condition). Whatever you do, don't accept face value. . . They are definitely worth some premium over face.
heres a little info to, if theres any pin holes, tears, etc. it will grade red, if everything is ok, will grade green, good luck
$1,000 notes, even the common districts, are worth $1,100 (tattered rags) to $7,500 (gem uncirculated) depending on several factors. The actual value will depend on the district, condition, seal color and potentially plate numbers (for mule notes). Even the only flaws are 3 vertical folds, it has a good chance of grading Extremely Fine 40. Here are some notes in the 40 grade range that sold recently for the most common series: 1934 $1,000 from the Chicago (G) district. It's possible your note will be a rarer district. It could also be a mule, which will bring a higher value. This will give you a rough opinion of your notes' value. The records that have no name in the 2nd column are graded by the seller and not by a third party grader like PCGS or PMG. For rarer and high value notes, buyers will pay a premium for a note graded by PCGS or PMG. This eliminates the gambling aspect of not knowing what you're actually going to get. If the only condition issues are the 3 folds, I would recommend getting the notes graded. As you can see graded notes fetch higher returns for the most part.
I will throw in my reccomendation for PCGS... And say again that if you post some pictures we will tell you about how much it is worth and if gradeing would be wise... Good luck!
