Old currency notes can be valuable and there are plenty of collectors who buy them. If you're looking to sell then you have multiple options. Below we'll tell you what the best strategy is for selling and what the top places to sell are.
Know the Value of Your Notes
It's best to know the value of your notes before negotiating with a seller. This way you'll avoid getting ripped off. You can do research online or preferably you can consult a guide book.
We highly recommend A Guide Book of United States Paper Money. This is a comprehensive book that contains every note issued by the US government. It covers all different types of notes both new and old. Typically the older large-size notes will be worth the most money, although it depends on the series. Modern notes are rarely valuable unless they are a star note or an error note.
Once you have a price range for your notes then it's time to look for a buyer.
Top Places to Sell
The places listed below are where we recommend selling.
eBay
eBay is a good place to sell old currency and plenty of buyers check the listings on a regular basis. You have the option to list your item for auction or list a 'buy it now' price.
While there is plenty of upside to using eBay, there are also several downsides:
- It can be time-consuming if you have multiple items to sell
- The eBay selling fees are 10% of the total sale price
- You will typically get paid through PayPal which has poor customer service
- There is a short learning curve if you've never used eBay before
Specialty Shops
There are shops that specialize in old currency notes. These shops will be able to make you an offer for notes that are rare and valuable. Most shops won't be interested in notes that are relatively common.
You don't need to live close to one of these shops in order to do business with them. Most shops also have websites where they list ways to contact them (phone, email). When doing business online they will ask you to send them pictures or scans of both sides of each note. This is done to verify the authenticity and condition of the notes.
We cannot provide any specific shop recommendations at this time.
Coin Shops
If you're looking for a quick sale then your local coin shop can be a good option. Most coin shops buy and sell old currency. However they might not offer the best price.
Pawn Shops
Some pawns shops will buy old currency notes. Like coin shops, they can be a good option for a quick sale but you may not get the best price.
Conclusion
It's not hard to find a buyer for old currency bills. If you have a rare and valuable bill then we recommend selling on eBay or selling to a specialty shop. Remember to find the approximate value of your bills before starting the selling process. Also when negotiating, it's best to let the the potential buyer make you the first offer. Their offer might be higher than what you expected.