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Old Canadian Bills $1&$2

 
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Canada
8 Posts
 Posted 06/13/2020  01:35 am Show Profile   Bookmark this topic Add Miss Maldita to your friends list Get a Link to this Message
Found my old wallet.. Should I sell them? Keep them? Will the prices go up in the near future?





I appreciate any and all suggestions! Thanks everyone!!
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Canada
1801 Posts
 Posted 06/13/2020  07:14 am  Show Profile   Check gidjit's eBay Listings Bookmark this reply Add gidjit to your friends list Get a Link to this Reply
i spend them in that condition
please check out my collection of large cents from 1858 - 1920 (click link below, you DO NOT need a facebook account to view)
https://www.facebook.com/media/set/...l=4b87156114
also you can see my collection of 1859 die pairs here
https://www.facebook.com/media/set/...47995&type=3
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Canada
5352 Posts
 Posted 06/13/2020  09:16 am  Show Profile   Bookmark this reply Add mcshilling to your friends list Get a Link to this Reply
Keep the better ones and put them into bill holders to keep them flat. No they will not go up in the near future, maybe in the long future.
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United States
3063 Posts
 Posted 06/13/2020  09:59 am  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
They are neat to give away as tips .. to the paperboy, waitress or golf beer cart. Most of those types have never seen a 1 or $2 bill. I do the same thing with nickel dollars.
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Canada
8042 Posts
 Posted 06/13/2020  12:25 pm  Show Profile   Bookmark this reply Add DBM to your friends list Get a Link to this Reply
Check this site (https://www.coinsandcanada.com/bank...-prices.php) for any desirable serial numbers.
If they are not listed they are worth face value and will never increase no matter how long you hang on to them.
There are simply too many low grade examples and not enough collectors.
"Dipping" is not considered cleaning...
-from PCGS website
Edited by DBM
06/13/2020 12:27 pm
Pillar of the Community
Canada
2713 Posts
 Posted 06/13/2020  2:19 pm  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply

Quote:
No they will not go up in the near future, maybe in the long future.


The won't go up in value even long term. Old will not make them more valuable. We see some banknotes from the 1950's still worth only face value.
Common notes in circulated condition is worth $1/$2 in 1973 and is worth $1/$2 in 2020. They simply made too money of them; in the hundreds of millions.

As for spending the banknotes, they are no longer legal tender so stores can refuse to take them. But you can take them to the bank, they will accept them.

https://www.bankofcanada.ca/banknot...-bank-notes/

Edited by MoneyPenney
06/13/2020 2:37 pm
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Canada
8042 Posts
 Posted 06/13/2020  3:15 pm  Show Profile   Bookmark this reply Add DBM to your friends list Get a Link to this Reply
They are still legal tender and will remain so until at least January 31 of next year.
Stores can refuse to accept them nonetheless.
Once they are no longer legal tender stores can still accept them if they so choose.
Stores can accept or refuse any method of payment they choose, they do not have to accept your legal tender coins or notes.
"Dipping" is not considered cleaning...
-from PCGS website
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United States
107 Posts
 Posted 06/13/2020  3:32 pm  Show Profile   Bookmark this reply Add Blind Squirrel to your friends list Get a Link to this Reply
DBM is correct, and the link he posted is a great resource that can tell you a lot about what you have.
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Canada
1682 Posts
 Posted 06/18/2020  4:05 pm  Show Profile   Check Petersun's eBay Listings Bookmark this reply Add Petersun to your friends list Get a Link to this Reply
Inflation in a few years will be drastically greater than any gains due to the banknotes' value as collectibles. You're probably better off exchanging them for a silver maple leaf, which is arguably a more sensible investment to hold onto.
Valued Member
Canada
366 Posts
 Posted 07/13/2020  10:22 am  Show Profile   Bookmark this reply Add ShareBear to your friends list Get a Link to this Reply
Put them for sale on EB they are worth more than face value.
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Canada
9200 Posts
 Posted 07/14/2020  6:30 pm  Show Profile   Check SPP-Ottawa's eBay Listings Bookmark this reply Add SPP-Ottawa to your friends list Get a Link to this Reply
Notes like that, I use for fun as tips in pubs and restaurants...
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert Oppenheimer

Content of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_US

My eBay store
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Canada
2713 Posts
 Posted 07/14/2020  10:10 pm  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply

Quote:
Put them for sale on EB they are worth more than face value.


But are they valued enough above face value to justify the eBay/Paypal and shipping fees?

There are hundreds of listings on eBay for these type of bills. These notes are so poor condition you will lose money if you sell them individually.

I suppose you could sell them as a lot. I counted $22 FV. Maybe $30 or $35? After fees/shipping, what are you left?
Not much.

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Canada
988 Posts
 Posted 07/15/2020  6:51 pm  Show Profile   Check walk2dwater's eBay Listings Bookmark this reply Add walk2dwater to your friends list Get a Link to this Reply

Quote:
But are they valued enough above face value to justify the eBay/Paypal and shipping fees?..

Not IMO (not worth the fees/hassle).
- I got a bunch (like about $500) EF & better & I sold them off in lots of $100 (or more) for about plus 3-5% (a lot of $5, $10 & $20). Buyer was happy & I was happy just to get rid of em.


Quote:
Notes like that, I use for fun as tips in pubs and restaurants...

- I think that's a great idea & I also like to gift them to relatives to spark an interest in the hobby.
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