what to do

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Hello everyone,just joined this site today,basically to help a freind of mine who is not used to computers,anyway,she just inherited a whole pile of money,all in cash,mostly hundreds,fifties,twenties and tens,with a few of the lower denominations as well,from the thirties to the newer stuff.
We have been going thru the bills and have found hundreds of devils face as well as dozens of x replacement notes and many asterisk notes as well.
Just going by the info gathered on the web,I think she may be way ahead to wait and do some research before depositing the money in a bank account.
I have ordered the new charlton catalog and we will check it out,but does anyone have any other ideas how we should proceed,or could anyone tell us what to look for.
Where or who would be a good place to have this money appraised and how would a person go about selling huge numbers of bills at a time.
Any help wpould be appreciated.

hi I pm ed you please let me know your response

Check the cataloge, do your best guess for the grade, scan front and back of each bill, put them on E Bay. Publishing a list with the serials could also be helpful too, as there are many people here who know lots about paper money. Don't deposit it in the bank. You came to the right place for help.

Nice find.

 [smiley=beer.gif]

Firts, I would say to catalogue each note. Another option would be taking them to a local, reputable dealer for an appraisal and/or purchase offer, although this would likely cost money. I am sure that the people on this forum could give you some good names.

Another step would be to contact one of the large auction companies, such as Moore Numisimatic Auctions, and have them consigned to one of the several large auctions that are held each year. The final choice would be to sell them privately, such as on Ebay or through this group.

Getting the Charlton is definately a good move, and I would recommend finding a local club if possible- they would be a great help.

My final piece of advice: Get a safe deposit box for these notes, if you don't have one already. Why leave all that cash laying around your house?

Hope that this helps.

Fenian

JR,

Grade and scarcity is all important so be sure to read over the grading section at the beginning of the Charlton book.

Gary

Actually,here is a question now,are 54 series notes worth more if they are brand new still in the original bank wrappers with sequential serial numbers,like five twenties to a hundred dollar pack ?

I'm not sure I'm grasping what you're describing, so I'll give two answers...
If you are asking about perfect condition notes being worth more, the answer is a resounding yes!
If you are asking about 5 such notes in sequence being worth more because they are in sequence, sometimes that may be the case, sometimes not. If they were 1954 $20s, it might simply be easier to break up the lot and sell them one or two at a time.
Typically a "pack" or "bundle" of notes from the bank is 100 notes. If you have one of these, completely sealed as found from the bank, again it depends. $1 banknotes would be much easier to sell en masse like that. $20s would be quite difficult as that is $2,000 in face value alone.

The sheer number of bills makes this a very daunting task for someone new to the money thing.

Trust me, I know. As I mentioned to you in my PM, the previous person that I dealt with was similarly put off by just how much there was, and the amount of work required to realize more than face value for the lot. By the end of it, he and his family we glad that they turned to me and had my help in taking care of it all.

I await your response this weekend.

Best regards

You can't go wrong following the moderators (such as BWJM's) advice.  

A lot of people are under the impression that a note is collectable simply because its old (eg 1954).  As Sudzee mentioned the condition of your notes is paramount.  

However, if your notes are fairly common, it will only be a few die hard collectors here who may be interested.  MOST NOTES HOARDED ARE COMMON BECAUSE MOST PEOPLE WHO HOARD MONEY HAVE NO IDEA WHAT IS COLLECTIBLE.   They're just stashing away money afterall (they don't necessarily think of it as being a hobby).  There are exceptions.  Sometimes luck will have it that a few odd notes are actually rare (or desirable to collectors).

You could try eBay but then you've got to put out costly final value, and listing fees.  Does it make it worthwhile? You have to ask yourself, a dealer, or a collector who knows --these questions.

If you have higher denominations (which are pretty common in excellent condition) than you may be wise on settling for face value.  It might seem hard to swallow, but that may be the best route.  

Hello

I am in a similar situation as the start of this thread.  My mother passed away and I have inherited a small sum of old (1954) Canadian currency,  20-$100, 40-$50, 35-$20 bills.  Most of the bills are worn with pen marks, folds and some tears.  Is there any market for less than perfect condition?  Should save time just cashing them at face value?  I also live in California.  Should I wait until going to Canada to cash them at a bank.  I suspect I will lose quite bit if I try at a local currency exchange at the airport.  Any suggestions or tips would be appreciated.

thanks, Larry

It's probably a bit long for the forum, but if you send me a list of the serial numbers of these notes, there may be some that stand out from the rest in terms of value.

Should I wait until going to Canada to cash them at a bank.

You should not cash them at the bank. You should sell them to collectors. The bank will not give you anything more then it's face value. If you put them on E-Bay, you will found someone for each note. Also you will never know what you will get on e-bay... You may a note that are rare because of the serial numbers, or Prefixs.