How to Sell Old Paper Money

Know what you have before anyone makes an offer

The single best defense against a low offer is knowing roughly where each note sits. Run every note through the checks on the paper money hub page: size, type, seal color, series, serial number, errors and condition. Write the details down. A buyer who sees you know the difference between a Series 1957 and a Series 1928 silver certificate will treat you differently.

Look at completed sales, not asking prices. Plenty of listings ask the moon for common notes. What matters is what buyers actually paid for notes of the same type, series and grade.

Local coin and currency dealers

A local dealer is the fastest way to sell common old notes, such as circulated silver certificates and red seal $2 and $5 notes. Expect a dealer to pay below what they will sell for, because they carry the risk and the overhead. That's fair. What isn't fair is an offer close to face value for a large-size note or a scarce type.

Look for a dealer who handles paper money regularly, not just coins. Ask what they would pay and why. A good dealer will tell you which notes they want and which are common. Get a second offer before you sell anything you think is special.

Auctions for the better notes

Major numismatic auction houses run regular paper money sales. That is where serious collectors compete for scarce notes. National bank notes from rare banks, Educational notes in good condition, short-run stars, strong fancy serials and dramatic errors belong here.

Auctions charge commission and take time between consignment and payment. In return you reach buyers who will pay strong prices for the right notes. Ask the auction house which notes they want graded first and what their commission is before you sign.

Coin and currency shows

Shows put many dealers in one room, which makes it easy to get several offers in an afternoon. Bring notes in sleeves, bring your list and walk the floor before you sell. Dealers who specialize in paper money will often pay more for notes in their area than a general coin dealer. Large shows also have dealers who specialize in national bank notes or errors.

Selling online yourself

Selling online gives you the biggest audience and the most work. Take sharp photos of both sides on a plain background, show the serial numbers clearly and describe every fold, stain and pinhole honestly. Buyers return notes that turn out worse than described.

Graded notes sell better online because buyers can trust the grade. For raw notes, show close-ups of the corners and any problem areas. Ship flat in a rigid holder, insured, with tracking.

Should I get my notes graded before selling?

Grade a note when the likely sale price comfortably exceeds the grading fee and when the grade could change what a buyer pays. That usually means large-size notes in decent condition, scarce small-size types, uncirculated stars from short runs, strong fancy serials and genuine errors. A graded note with EPQ or PPQ also proves the paper hasn't been washed or pressed.

Don't grade common, circulated notes. The fee will swallow any premium. Many dealers and auction houses can submit notes for you if you don't want to deal with the grading service directly.

How to avoid lowball offers

• Get at least two offers on anything that isn't plainly common.
• Ask the buyer to make the first offer. Then ask how they arrived at it.
• Be wary of "we buy old money" pop-up events in hotels. Their aim is to buy fast, below market.
• Don't mail notes to an unknown buyer for an offer without photos, insurance and a clear return policy.
• Never let anyone "clean" or flatten a note before sale. It lowers the price.
• Sell common notes as a group and special notes one at a time.

Frequently asked questions