But there is one case where a thousand dollars can cost more than a thousand dollars - and this happens in the sale of bank notes in denominations of $ 1000. By selling bills of $ 500, $ 5000 or $ 10000, their owners might also receive an amount substantially in excess of par value of these notes.
However, most people have never even seen the notes of such value as the U.S. government has withdrawn them from circulation in July 1969 These papers are still a legitimate means of payment, and possession is also completely legal. But if the investor decides to put them on a blocked bank account, then later on he will receive only an amount equal to their nominal value. The Bank is obliged to transfer such a case, received bills in the appropriate division of the Federal Reserve System, where they would be destroyed. However, the owner of a large banknote there is a more profitable opportunity: he can sell his treasure with a considerable profit to collectors of banknotes.
According to data provided by David Harper, editor of the monthly newsletter Banknote Reporter, the U.S. government first ordered to print such large bills in 1918 to implement inter-bank cash transactions. At that time there were no mechanisms for electronic payments, and very often had to physically carry large amounts of cash from one bank to another. Of course, it was easier to carry large bills.
In 30-ies., After the Great Depression, people often keep their savings in the form of large bills in a safe or other safe places, because there would not trust the banks large sums of money. According to Harper, it was used as a means of accumulation is the cause of the high "survival rate" of these notes. Many of those who had money in the vaults, died, and no use of them, and now they got to the heirs.
If the banknote depicts William McKinley, 25 th U.S. President (1897-1901), elected from the Republican Party, the banknote is $ 500. If it is a portrait of Grover Cleveland, a former 22-m (1885-89) and 24-m (1893-97), U.S. president from the Democratic Party, this 1000-dollar bills. Banknote with a portrait of James Madison, 4 th U.S. president, has a par value of $ 5000, a bill representing the Salmon Chase, an active fighter against slavery, the former finance minister Abraham Lincoln and Chief Justice of the Supreme Court, - par value $ 10000.
Price of such notes depends on their condition. According to the book "2002 Standard Guide to Small Size US Money ", for a firm, crisp bill, hardly been in circulation after the release of a printing press, you can help out a lot of money.
Banknotes in a very "good condition" is evidence that she was in circulation, but still crunches retains stiffness and the quality that the book is defined as "uniformly good appearance." Bill just in "good condition" does not crunch, and may have a few spots, it looks like a normal, re-used bank note from his wallet or cash register.
According to Stephen Bobbitt, a representative of the American Numismatic Association, the more crumpled bill, the lower its cost. The lower the bill, judging by her appearance, was in circulation, so it is more expensive. But even if a large bill looks very shabby, the owner will almost certainly can get for her excess of par value. Bobbitt said that, as a rule, the price of 500 dollar bills issuance in 1928 ranged from $ 750 to $ 1000. Over $ 10,000 banknote issued in 1928, offering approximately $ 20000 to $ 30000, and for 1000-dollar bill the same year of issue can be obtained from $ 1400 to $ 1600.
According to Harper, there are even more lucky owners of banknotes of the sample sizes in 1918 banknotes have been reduced to in today's money series, released in 1928, while in 1918, bills were larger: about 7 3 / 8 inches by March 1 / 8 inch. This is one reason why today they are more expensive. So, for 1000-dollar bill in 1918 are usually offered at least $ 1750.
Of the thirteen remaining notes issuance in 1918 of $ 5000 advantage of the whereabouts of five. Two are stored in the Smithsonian Institution, one - the Federal Reserve Bank of Chicago, one - the Federal Reserve Bank of San Francisco and one belongs to a private collector. And out of ten have not withdrawn from circulation banknotes issuance in 1918 $ 10000 merit known only one. It's been so long since both bills in 1918 face value of $ 5000 or $ 10,000 were sold that and those and others can be invaluable.
According to Bobbitt, the only bill that can not be found in the old vaults - a banknote $ 100000, even though such notes once issued for interbank transactions. Of the 42000 printed bills now has slightly more than two dozen. Currently, 100,000-dollar bills are only available in the repositories of the Federal Reserve, U.S. Treasury Department and the American Numismatic Association. Honor to be shown on these bills was awarded the Woodrow Wilson 28 th President of the United States of America from the Democratic Party (1913-21).
The real cost of large bills, retired U.S. Government
$ 500 (edition 1918) - $ 1750
$ 500 (edition 1928) - $ 750
$ 1000 (edition 1918) - $ 2300
$ 1000 (edition 1928) - $ 1400
$ 5000 (edition 1918) - Priceless
$ 5000 (edition 1928) - $ 10000
$ 10000 (edition 1918) - Priceless
$ 10000 (edition 1928) - $ 20000
Source: The American Numismatic Association
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