Need some basic info on $500 US Federal Notes

[estang]

Hello,

 

I'm from the SGC / Sports Card board below and thought you folks could help me out on behalf of a friend of mine who is interested in purchasing a $500 United States Federal Note.

 

I've found the following on the internet about years of print and price. I've also found some 'standard' terms for defining a grade.

 

1928 Federal Reserve Note Green $650.-$1100. (very fine) $1400.+ (uncirculated)

1934 Federal Reserve Note Green $600.-$1000. (very fine) $1100.+ (uncirculated)

1934A Federal Reserve Note Green $600.-$900.(very fine) $1000.+ (uncirculated)

1934B Federal Reserve Note Green Specimen Notes Only ----------

1934C Federal Reserve Note Green Specimen Notes Only ----------

 

My question is whether there are companies that grades out paper currency. if so, who are they, who are the most respected and what would be the best way to make a purchase (ebay, through trade magazine, dealer web site, trade show).

 

My friend has the money and interest to get the best condition he can find, but isn't an expert on what year is better than another and how to ensure the grade described by the seller can be authenticated.

 

He's interested in this ebay auction --- thoughts welcome

 

Any guidance and help on the above is appreciated.

 

 

 

[truthteller]

CGA, or currency grading of america, is the only 'recognized' firm to grade currency today. They are located in New Jersey. Although they use a Sheldon coin grading scale, 1-70(60-70 being crisp uncirculated), their grading is somewhat accepted. Their grading is accepted by ebay trading. However, auction houses tend to prefer ungraded currency solely to keep the hobby altruistic. The $500 note in Fine condition, which is a mid-circulated grade) is about $650 in value. Keep in mind, cuts, holes, tears, discoloration all factor into the grade and value. $500 bills are not rare in lower grades. Most currency is very difficult to counterfeit, and your ebay example looks real, although the photo could have been better.

 

 

TRUTH

[estang]

Thanks for the truth, TRUTH

[Conder101]

CGA, or currency grading of america, is the only 'recognized' firm to grade currency today.

What do you mean by "recognized"? I know of four firms grading currency today and one old company that is probably no longer in business.

CGA you mentioned

CGC Currency Grading Corporation (uses hard plastic holder)

RCGS Rare Currency Grading Service (Same holder style as CGA)

CCGS Canadian Currency Grading Service (only grades Canadian)

 

CCI Currency Certification Institute (Used COA only. COA ha information about the note including type, grade, and the bills serial number.)

[truthteller]

Well, to be precise, the most widely traded grading company of USA notes is CGA. Usually recognition goes along with widely traded since the more people who see the CGA holder 'recognize' it. If you mean accurate, altruistic, or properly grade, then I would recommend no currency grading company.

 

 

 

TRUTH