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Century-old, ‘ultra-rare’ $500 bill to be auctioned off

Century-old, ‘ultra-rare’ $500 bill to be auctioned off


This article was originally published on NY Post - US-News. You can read the original article HERE

An “ultra-rare” $500 bill from the Roosevelt era will be auctioned off in England on Wednesday — and it could fetch more than twice the number printed on its face.

The 1934 banknote, featuring a stoic portrait of President William McKinley, was part of a big collection of rare US money found in Wales, Hansons Auctioneers told Fox 8 in North Carolina.

Front of a $500 bill
The note — included in an important collection of more than 100 American bank and promissory notes — is being offered at Hansons on June 26. Hansons Auctioneers

The bill was uncommon for several reasons, according to William Hayward, a coin and banknote valuer at Hansons — not the least of which is that it was exceedingly uncommon for someone to walk around with that much money in their pocket back in 1934.

Back then, a bill of that amount would worth the equivalent of about $11,600 today, the station said.

“It’s also unusual because it hasn’t been redeemed,” Hayward said.

An
An “ultra-rare” $500 bill from the Roosevelt era will be auctioned off Wednesday in England. Hansons Auctioneers

“They are still legal tender. Five hundred dollars is still five hundred dollars at the end of the day,” he continued. “The United States no longer issues bills in larger denominations, such as $500, $1,000, $5,000, and $10,000 bills, but some may still be in circulation.”

The Bureau of Engraving and Printing has not printed a $500 note since 1945, he added. Congress officially discontinued it back in 1969.

The guide price for the bill said it could fetch between $1,000 and $1,260 when it hits the auction block, the station said.

The rare coin and banknote market is a “rich area of growth” in the collectibles market, Hansons said, and their sale regularly achieves record-breaking results.

This article was originally published by NY Post - US-News. We only curate news from sources that align with the core values of our intended conservative audience. If you like the news you read here we encourage you to utilize the original sources for even more great news and opinions you can trust!

Read Original Article HERE



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