How Do You Find the Value of Old Paper Money?

How Do You Find the Value of Old Paper Money?

To find the value of old paper money, contact a coin dealer, appraiser, shop or collector in your locality, use the Red Book and coin magazines, or access the websites of coin auctions and professional coin-collectors. Also, examine the condition of the paper money thoroughly.

Old paper money that is visibly worn out or damaged commands a lower value than bills in spotless condition, regardless of age. When examining the bills, look for signs of damage such as stains, tears, fading and folds. Also, take note of the denomination, country of issue and year printed on the paper money. Match these details with those given in reference books, magazines and online sources to determine the currency's value.

Professional coin collectors and coin dealers can help you identify the paper money and find a purchaser for it. If possible, attend coin collectors show in your area, as this is a place where numerous coin dealers are likely to assemble. Coin shops usually determine the currency's worth and buy it themselves.

When contacting a currency appraiser, ensure that he follows the regulations of the Uniform Standards of Professional Appraisal Practice.

If using The Official Red Book available at bookstores and libraries, ensure that it is the latest edition. This reference text is an annual publication that provides information on the current demand and value of American paper money and coins.