i have 2 very worn 1934 $100 bills. the paper is very limp and creased on one of them and the other one has a circular blue stamp with the numbers "1234" in the middle right next to Ben Franklin's face. i recieved these notes in circulation and have been holding on to them for some time, along with a 1934 $50 with a small brown stain on the back. are these worth keeping? i know higher denominations from 1934 are common. with silver low but starting to go up, i'm trying to buy as much as i can while still maintaining a $4k savings (im 15 years old, $4k is a lot of money) i have 8 nicer 1934 100s and 3 50s that i am keeping. also, are 1934A notes worth more than regular 1934 notes?
In such condition and as a collector, I advise spending them at a coin shop or show used for buying other coins, notes or whatever it is you like to collect.
Every day you've been holding those notes (unless they are star notes) you've been losing money. You would have been better off depositing them and getting 2% return. Both 1934 and 934A notes are very common. Unless you have these notes in VERY nice condition, and with lower serials to hopefully be in the lime green seal range, they are not a good investment, especially since almost of their value is tied up in face, which does not appreciate, just depreciates with inflation. Common higher denom ($50 and $100) notes in fair condition are a terrible investment.
I only keep the regular Series 1934 bills as "emergency money" - cash for spending on coins, food, gas or other necessities. The ones that are worth more are the better condition notes, notes with light green seals or interesting serials and star notes.
I was wondering about this too... and not really sure where "investment" came out for the OPs "received in circulation" and their wish to hold a small amount of readily available liquid cash savings. Holding cash is more a strategy of not holding all your spending power tied up in one or too few assets, and at the ready for emergency use regardless of the fluctuating value of the dollar. He knows they're common notes and the conditional status quite low from detailed description. More than likely he figured out his answer with what to do with the notes just typing the OP out himself. Sounds like he has other plans for the money and just running this by paper collectors to ensure he's not making a simple mistake letting them go if they happened to be something a collector would pay more for. Do you think the 1% know about that 2%?
You aren't sure where investment came from? "Are these worth keeping" is a question that *inherently* involves retention and appreciation of value, did you think he was asking about sentimental worth, or in case he spills a drink and needs something to mop up with? He is wanting to *buy silver* since it is "low and starting to go up" which is well I reckon' just another way of saying he wants to *invest in silver*. Anyone can get 1% in checking, decent research will get you a 2+% on a 5 year CD. Regardless, holding these notes is tying up face value with NEGATIVE return - I do not care what you read, inflation is there and it is real, if you've had these notes for 3 to 5 years, you've lost real money in relation to core commodities like gasoline, food, etc. Common $50 and $100 notes are a terrible investment. You would be better served buying straps from the bank and looking for valuable serial numbers and star notes in singles than holding on to common 1934 and 1934A high denom notes in fair condition. Again to the OP, unless your notes are in mid-grade or higher or are special/low/lime green serials, there is no reason to retain them, unless you have an interest in collecting (which it does not sound like).
I'm not sure why *you* decided to make this so much about investment. It's a collector based forum and most collectors know that numismatics offer poor return on investment compared to other options when it comes to, investing'. Buying silver, especially physical and particularly at this volatile of an era, is perhaps even more risky of an investment than holding cash, which in the past several years is where more people have put more serious money than into precious metals. Consider also that gas and food expire too, (loose real value) in 3-5 years if (held) and not consumed. I think you're simply taking a simple question about some poor condition notes way too far and over looking that he fully intends to have savings in the form of cash, on hand, for whatever his personal needs and projections of needs are regardless of inflation and holding onto securities in the form of cash dollars. That cash on hand may also be part of his target for holding numismatics, cash securities, precious metals and adding these things to a kit of things he's already got. We don't know where it stands to make this thread so much about investing. Sure anyone can find 1%, a common rate these days, but you expressed and surprised a few people with your 2% and have now gone and upped it with 2+ on a 5 year CD, tying that money up by giving it to some bank for 3-5 years, no longer at the ready. A guy into this form of "investing" probably isn't seeking or trusting in a bank, or may already have what he want's in CDs and just wants to liberate his thinking about the notes in question so he can move on to other things. I don't think you have any idea what his investment goals are or are not to be suggesting he's at any loss for what he's done so far, and as it seems it needs pointing out to you, he simply said the notes were from circulation, perhaps received or picked up at a bank in his attempt to hold $4k in cash, not notes intentially acquired as an investment. Chill out MEC!
If I mistook the OPs gist of keeping the notes from an investment/appreciation/retained value angle, then it is my error. Though I do think he is asking whether or not to keep them or deposit/trade precsiesly from a value appreciation angle. Whichever, I stand by the statement that 1934 fair condition large denom notes are poor investments and indeed I see no reason to keep them other than from a collector standpoint. Near anything he converted those notes to would be better. Even magic beans...
Not many places pay 1%... I have an online account paying .87% and that is among the highest today. I believe another account is offering .95%. Haven't seen anyone near 2%. And to the one saying coins are a bad investment... you must be in it for a different reason than me. Almost every coin I own is worth a decent amount more now that when I got it. I do not buy a coin I think will go down in value. I guess different people are into coins for different reasons though.
i received the said notes in november when i was dumping $500 in halves. the teller asked me if i wanted 'old' or 'new' $100 bills (the series 2009A had just come out), and i said i wanted the oldest looking bills in the drawer. i recieved these 2 notes along with 3 from the 1970's and 80's. i do invest in silver, currently i have about $3k worth. i did not intend to keep the bills as an investment, i consider myself a currency "hoarder". i have several old notes that will most likely not appreciate in value (1953 $2 notes, 1957 $1 notes, etc.) i was wondering if i should keep the notes for my hoard, or invest in more silver. i almost never sell any coins/currency. i have been counting these 3 notes as savings, not assets, in my records. i am keeping the $50 bill for sure at this point, but i still havent decided about the $100s. also, where can i get a 2% return??? i only get 0.1% interest on my savings account.
ally bank is a good online bank that pays .87%. No local banks in my area even come close to that (which is sad,... I would rather keep my money local)
...which led to my original post. You should put those into almost anything else, unless they are in a high grade, or in medium or higher grade with a light green seal. Even in the latter case, you should probably sell them on the BTS or at a coin show where you can trade them maybe for some junk silver. Unless silver tanks (a possibility), you are better off short term and certainly long term. High denomination 1934 and 34A notes in fair condition are pretty much face value holdings, and that's alot of money tied into a holding that will NOT appreciate, only depreciate due to inflation. My checking gets 1%. Other will go higher if you use direct deposit, use your debit X times per month, etc. Look at credit unions, they offer much more attractive rates. Helps to be in a location with a strong local economy.
McDonald's pays a $3.24 annual dividend per share. So at current the current stock price of $101, that's better than 3 percent! But it's not the same as a T-note.
i decided to keep the better of the two and invest the other one in silver. i also am keeping the fifty for now. too bad i cant buy stock
Share Builder (.com) used to be a way for younger folks to get into investing. They're apparently now a part of the Capitol One system, so I don't know if they're operated the same way.
