Looking at high denomination bills; $500 & $1000 notes. Any advice?

Hello, I am new to paper money collecting but have always been interested in U.S. high denomination notes from the 20s-30s. I've been watching them on ebay for the past few months and would like to purchase a $500 note to start but haven't decided on which grade I should settle on. Also, the $1000 is attractive. Any advice or input on this subject is appreciated. Thanks.

 

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Not a paper guy, but I'm sure its the same as coins, buy the best condition you can afford, whether its poor or gem, buy what you can afford.

 

Just remember that alot of the value of these notes is tied up not in their rarity but in their face value, which will diminish in time.

I hope to have one of each example at some point, but for now, that's just too much money for me to tie up in face value.

If money was not an object, I love the look of the lime green ones... just perfect appearance. And since these notes aren't cheap, it makes sense to spend a little more to get a better grade. When you are playing $1600, what's another $150...

 

The $500 and $1000 notes are relatively common. You can buy one for a little more than face value, in low to mid grade (Good to Very Fine).

It really depends on what your budget is. You might pay $700 for a Fine-12 $500-note, all the way up to $5,000 for one in Uncirculated-64. The 1928 series commands a higher price than 1934 due to scarcity. And star notes can push the price into the 5-digit rage.

 

Like these? :smile

 

Just like those... very nice...

 

What about $5,000 and $10,000 bills? You got an extra couple hundred thou, laying around? I sure wish I did, because both the $5,000 and $10,000 bills go for around $100,000 each, and believe it or not, $5,000 bills are rarer than $10,000 bills. There are like some 200-some $5,000 bills left around, while there are some 300-some $10,000 bills left around, if I recall correctly. (This is for "small sized" notes)

 

As funkee said, you can get an example of both notes in Fine condition for a few hundred over face value. Go for the earlier series if you can as those notes tend to appreciate faster than the 1934 series. I've seen $500 notes in that condition for $600, but it was too rough for my tastes, so i passed.