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 Replies: 12 / Views: 2,323 |
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New Member
United States
2 Posts |
Hi everyone!
My name is Matt and this is my first post on the site. I was directed here by a friend of mine who said your forum would be a great place to answer some questions I had about purchasing paper currency.
I have dabbled with currency for a while now and have a few large style notes in my collection. I work in retail and tend to save any silver certificates, United States bank notes, and older Federal Reserve notes that might appear at the cash register :) (Even though most are pretty beat up and not worth much more than face value)
I would like to purchase each denomination of Federal Reserve notes from 1928. This includes the $1, $2, $5, $10, $20, $50, $100, $500, and $1000 bills. (The $5,ooo bill and above are a little out of my price range!) Am thinking it should cost me somewhere between $3,500 and $4000 depending on the condition of the bank notes. They don't need to be uncirculated but it would be nice if they were in very good condition with a minimum of damage and/or tears.
What would the best way be to go about this? Basically I'm looking for a reputable dealer who will give me a fair price. I'm not a professional currency collector by any means so that is why it's so important to find an honest source to purchase these bills from!
Does $4,000 seem about right for this purchase? Can this be dome online or would it be better to visit a local currency show?
I really appreciate any help you might be able to provide!
Take care,
Matt
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Pillar of the Community
United States
4691 Posts |
You might get some (probably not all) lower grade ones of the common districts for that price.
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Pillar of the Community
United States
4637 Posts |
Welcome to CCF.
Some of the denominations are not available as series 1928 FRNs. The first $1 FRN is a series 1963, and the first $2 FRN is a series 1976. If I was including both the $500 & $1000 notes, I would rather go for series 1934...more bang for the buck.
I'm unable to think of any Type note that is available in one series for all of the denominations chosen.
Edited to add; I'm assuming when you said ,"I would like to purchase each denomination of Federal Reserve notes from 1928." you meant , all of the notes are from series 1928, and not meant as "starting from 1928."
Edited by SteveInTampa
01/23/2019 7:20 pm
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Pillar of the Community
United States
7616 Posts |
 ....to the Community! We look forward to your active participation! Buy the 500 and 1000 dollar notes first and work your way backwards. The availability of those higher denomination 1928 notes gets thinner and thinner as time marches on. The 1000$ 1928 notes ain't cheap either——especially in higher grades. I'd recommended visiting a few coin shows and see what's available from the paper guys and at what prices. Don't get caught up in the moment and think through your purchase BEFORE "pulling the trigger"! Good luck! |
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Bedrock of the Community
United States
94367 Posts |
Most of the notes you mention are inexpensive in higher but circulated grades if the issuing district or series year is not important. You should be able to do it for $4K without difficulty. But Steve is spot on - the $1 and $2 FRNs were not issued until well after the era you speak of. One possibility might be to collect one of each denomination from the first year of each denomination's issue, regardless of the seal color. to the CCF! Edited by Coinfrog
01/23/2019 7:48 pm
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New Member
 United States
2 Posts |
Thanks for all of your replies! You're totally right about the $1 and $2 notes not being available in the 1928 series! Oops..
I agree with westernsky's advice on going to some coin shows to see what is available out there. You're probably right, Steve, about maybe purchasing the $500 and $1000 bills in the series 1934. Might be able to get one of those in better condition for the same price as a more ragged 1928 note. The year isn't too important to me, anyway.
I need to get an updated currency value book, also, since the one I have now is from 1996, lol!
Thanks again for the welcome!
Matt
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Pillar of the Community
United States
4637 Posts |
@wanderingmatt, please shoot me an email for dealer information.
I have a friend (dealer) that I have used many times.
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Moderator
 United States
187950 Posts |
to the Community! |
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Bedrock of the Community
United States
10034 Posts |
Welcome Matt Hey, I know you from the insulator hobby  Knew the amazing guys here in the CCF family could help  How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 |
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Valued Member
United States
467 Posts |
I agree with the rest, go with 1934 series. Take your time when looking, I would not recommend just jumping at notes to complete a series..
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Bedrock of the Community
United States
94367 Posts |
The $500 and $1000 notes are a must-have for many PM collectors, but once you've paid up for them, you might well lose interest in a couple of years. I've tied up close to $6K in a couple of TPG 64s, and I never even look at them any more.  |
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Pillar of the Community
 United States
8938 Posts |
I mean if you want to give them away CoinFrog...  |
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Bedrock of the Community
United States
94367 Posts |
To be honest, I'd sell them for what I paid if I could.  |
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Replies: 12 / Views: 2,323 |
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Posted 01/23/2019 7:02 pm
