old currency question.....

aceduecetrey · Jun 24, 2010

got the craziest lloking bill i have ever recieved as change tonight and was wondering about it (doug).....

It is a $50 and is from 1929, that says "national currency" and is from 1929 that says on it "national bank of indianapolis".....

I have never seen anything like this, so I am curious as to what the heck it is.........

JakeT. · Jun 24, 2010

Does it have a star symbol in the serial number?

JakeT. · Jun 24, 2010

Star = 5-10 times the value.

JakeT. · Jun 24, 2010

PS, sure it's 1929? I can't find any info about Indy producing a $50 that year. Might be rare.

seanjohn007 · Jun 24, 2010

im no money expert but after a quick google search it seems that there is a rare version and a none rare version. sounds like you have the one thats less rare. depending on their quality they can be worth a couple dollars over face value to a couple hundred over face value. hope this helps a little

JakeT. · Jun 24, 2010

$80-$150 for most $50's from that year. But one again, I can't find any friggin info on a $50 from Indy that year at all. Lots of examples from other banks...

seanjohn007 · Jun 24, 2010

Jake T. said:
PS, sure it's 1929? I can't find any info about Indy producing a $50 that year. Might be rare.

oh good point. when i searched i assumed it was the minneapolis version (all i remembered is that it ended in apolis)

aceduecetrey · Jun 24, 2010

Definitly from the "american national bank of indianapolis". There is no star, the serial number is red and also has a vertical 5 digit number on both the left and right side of the bill.

Doug · Jun 24, 2010

I've seen these notes before but am not update on values of them. I called my local dealer he says about $80 retail for a VG ( very good) note. VG would sort of mean well circulated but not torn and taped, should not have writing on it....basically a pretty decent looking note.

I'd guess a dealer might pay around $55-60 for it. You can probably find some on ebay and judge prices by that. It is fairly common in relation to the number of people that collect $50 bills. I would sell it instead of hold it long term ( didn't work very well for the last 80 years).

Doug · Jun 24, 2010

Here's a decent looking one on ebay for $75.

http://cgi.ebay.com/Fine-1929-50-Ch...tem&pt=LH_DefaultDomain_0&hash=item3a5c387696

I'd either sell yours to a local dealer for $55-60 ( if offered), ebay it, or spend it.

Wait4it · Jun 24, 2010

would thats a nice looking bill..

tiznow · Jun 24, 2010

Doug said:
Here's a decent looking one on ebay for $75.

http://cgi.ebay.com/Fine-1929-50-Ch...tem&pt=LH_DefaultDomain_0&hash=item3a5c387696

I'd either sell yours to a local dealer for $55-60 ( if offered), ebay it, or spend it.

might be worth more with the bank of indy on it as jake T says he can't find it online at least

i'm just takin' a guess the rarer the bank is the higher the value

you sure it has indy on it ace? maybe its a fake and those making it didn't realize indy didn't issue any of these LOL? who knows

but

just found this googling and no mention of indy

1929 $50 bills that are Federal Reserve Bank Notes will say Federal Reserve Bank of New York, Cleveland, Chicago, Minneapolis, Kansas City, Dallas, or San Francisco. If one of these 1929 $50 bills has a star symbol in the serial number it will be worth much more than a few dollars over face value.

tiznow · Jun 24, 2010

http://www.worthpoint.com/worthopedia/10-1929-indiana-national-bank-of-indianapolis-see

found a 10 dollar from national bank of indy so they did issue notes that year

like those guys above say probably not worth much over face unless its got the star thing on it

slight chance it could be a rare bank and have a higher value due to that

Doug · Jun 24, 2010

tiznow said:
might be worth more with the bank of indy on it as jake T says he can't find it online at least

i'm just takin' a guess the rarer the bank is the higher the value

you sure it has indy on it ace? maybe its a fake and those making it didn't realize indy didn't issue any of these LOL? who knows

but

just found this googling and no mention of indy

1929 $50 bills that are Federal Reserve Bank Notes will say Federal Reserve Bank of New York, Cleveland, Chicago, Minneapolis, Kansas City, Dallas, or San Francisco. If one of these 1929 $50 bills has a star symbol in the serial number it will be worth much more than a few dollars over face value.

I'm much more of a coin guy than a currency guy, but I know a bit about notes.

I'll tell you this much....

you need a buyer, generally a serious collector. They will want the note to be CU ( crisp uncirculated), that's what serious collectors collect. Some guy might frame a circ note and put it behind a bar or something as a novelty, but you need real collector demand.

Few collect high denomination notes. Imagine the face value amounts involved in collecting $50 and $100 bills from the 10-12 Federal reserve banks from all the different series runs....collecting gold coins is a lot safer !

A really serious currency collector would be into the large size notes of 1923 and before ( bills before 1928 were about 1/3 larger). The large notes were colorful and artistic instead of that 1929 $50 being very much the same as today's $50.

Sell this $50, it ain't going anywhere pricewise. It's like holding onto 1976 bicentennial circulated quarters. 34 years later they are worth a quarter... maybe $25 for an unc roll.

Doug · Jun 24, 2010

The stuff issued before the 1920's is a lot cooler looking.

Doug · Jun 24, 2010

don't get too hung up on a star ( replacement) note. It adds value ( desirability) to an already collectible note, but saying 5-10 X is a bit strong.

just a star on a modern note doesn't make a one dollar bill worth $ 5-10.

Doug · Jun 24, 2010

tiznow said:
might be worth more with the bank of indy on it as jake T says he can't find it online at least

i'm just takin' a guess the rarer the bank is the higher the value

you sure it has indy on it ace? maybe its a fake and those making it didn't realize indy didn't issue any of these LOL? who knows

but

just found this googling and no mention of indy

1929 $50 bills that are Federal Reserve Bank Notes will say Federal Reserve Bank of New York, Cleveland, Chicago, Minneapolis, Kansas City, Dallas, or San Francisco. If one of these 1929 $50 bills has a star symbol in the serial number it will be worth much more than a few dollars over face value.

these high denomination ( sorta semi-modern) circulated bills don't have many buyers, that's the real problem. popularity trumps rarity !

I showed you can get one for $75 in nice condition ( Fine , which is better than VG).

Ace's note has to be decent looking to be worth over face value. SELL, SELL, SELL ! as TRYTRYTRY would say.

Sell it.

Doug · Jun 24, 2010

definition of a star note....

http://en.wikipedia.org/wiki/Star_note

Doug · Jun 24, 2010

Here's the likely story of this bill, something like this...

the bill is beat to shit, worth no premium.

some dumb fuck pulled it from circulation around 1960, held it 45+ years, died, kids inherited it, numismatic dealer said just spend it ( rightfully so), they did...123 got it in change.

Moral of the story is.... don't save stuff like $2 bills, Presidential dollar coins, state quarters, etc.

It's not rare just because you don't see it everyday !

If you want to invest or hoard coins or some other collectible item...learn about it first.

aceduecetrey · Jun 24, 2010

Thanks for the replies guys, I threw it in the safe for the hell of it. Just really was curious as I have never seen one like it before.

old currency question.....

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