Had a customer pay me with this twenty and i had to pull it aside... is it worth much in this condition besides the obvious $20.
Unfortunately, no. Too many hanging around in better condition. If I had found it I would keep it though.
Definitely a nice one to find in circulation. Without seeing the entire note, it's difficult to make an accurate assessment on grade. We can't see the entire left or right margins and whether there are tears/holes on them. From what is visible in the photo there are multiple folds and creases. Also appears to have a few pin holes above the serial number. I would say condition is Fine 12 (assuming no major problems on areas outside the view of photo). If the note is very limp then Very Good 10. There is a slight premium for scarcity. An eBay search of similar notes that have sold within the last few months reveals the market value to be $25-30. Recent eBay Sales: Series 1934 $20 Federal Reserve Note Kansas City (J)
I accessed this from the sidebar menu so I didn't know what forum I was headed to, and of course I live in Coin Land and not Paper Money World, so my mind immediately went to coins, and double-eagles in particular. I read the title and I thought, "A 1934 $20? Hey, wait a minute! The last $20 gold pieces were struck in 1933! What kind of crazy counterfeit is a 1934 $20? Silly me. A paper $20 didn't even enter my thinking. Sorry, I have no idea. I don't do paper. That's a supercool find, though, and a keeper for sure, even if it doesn't command any premium over face value in that grade. Nice find!
Cool circulation find. Looks like honest wear, but condition holds it back from having a lot of value over face.
Haha... sorry about that misleading post. I too come from coin land and these are uncharted territories for me. I'm thankful that there are people in these forums willing to pass on a lot of knowledge about paper. I think part of the appeal for this bill is the fact this was the year of no return with gold coins. Makes you think how our country got robbed. A pre '33 eagle would have been over $1300 but this bill is only $30 all these years later. (and that us before I pay ebay)
I knew it was in rough condition but at least now i have idea of what grade it could be.... thanks for all your insight. I know that older doesn't necessarily always equate to valuable with coins, but because paper is less permanent than coins, is there a certain age with paper currency where grade isn't the biggest factor in value.
My experience is that when an note is rare, then grade is less of a factor. Series 1934 $20’s are plentiful, so most collectors would prefer a nicer example.
Always neat to find old money in circulation, but 1934 issues are very, very common, and alas, this doesn't even have the good fortune of being a light green seal 34. Mitch has it right - if $20 is nothing to you, keep it for sentimentality. If $20 means you can take the kid to a movie and enjoy 2 hours together whereas otherwise you may not, you won't be losing anything spending it on that, in fact, that will be worth far more than this common 34 ever will be...
I was with my sister in Mexico in 1990 and she went to exchange a $100 bill at the bank and they wouldn't take it because they said it was a counterfeit. It was a 1934 note and didn't have "IN GOD WE TRUST" on the back. I told her it was only worth $100, so she ended up bringing money back. The ink on the back is much lighter and brighter, and the front ink seems blacker. Fun find, and that's the premium you get out of it.
