To help determine what your paper money is worth, here are some things a paper money collector should keep in mind:
- Level of circulation – The more a note has changed hands, the lower its value will tend to be. This level of circulation is graded. A note that’s never been circulated will be worth the most, and is known as a “Gem Uncirculated.”
- Fancy Serial number – A note with all one number (ex: all 9’s) has what’s known as a solid serial number. This is the most valuable type of serial number to have because the odds of it occurring are the lowest.
- Error Note – Errors can occur at any stage in the printing process, including those due to misalignment, ink smearing, or paper jams. These will reduce the note’s value.
These factors all go into determining a note’s grade, which then helps determine its value. A paper money collector can take his collection to a grading service to determine the grades of his various notes.