Will the old style bills such as 20s 10s or 5s be worth anything in the future??

Question

I got $20 out of the ATM today and it gave me one of the old style $20 bills which I haven't seen in a long time. Should I hold onto it??? Will it be valuable in the future?

Thanks Joseph. I don't know why every answer got a thumbs down from somebody, but I was thinking if people collect money - and if these bills are very rare (I haven't seen one in 8 years), then they have to be worth something.

So Steven F, what happened to all the older style bills??? The government just released all those news bills without getting rid of the old ones??? How come our economy hasn't crashed if that's the case?

Answer 1

Bills that are phased out will eventually be worth something - if, they are in good shape to begin with. Bills are rated on a system of Crisp Uncirculated to Good. So the bills that are near the top - very crisp, no folds and centered nicely are the ones that will bring the highest dollars in the future.

Below is a site to learn more about money:

Answer 2

Of course! American are great collectors of EVERYTHING, & that includes money. Since more & MORE of the old style currency is being turned in to Banks to be shredded every day- the ones that are left behind will become increasingly VALUABLE to Collecters as time goes by. I'll bet that by 2015- you'll be able to sell an old style $5. bill- for at LEAST twice that much on the street (not to mention Ebay!). So if you can afford it; gather up as many of the old style paper currency you come across (that's in GOOD CONDITION), & put it away in a SAFE, DRY & cool location. In 20 years- those bills will give you a BETTER return for your $$$ than any CD, IRA or Stock investment you make today! :)

Answer 3

Yes they will, but it will depend on a number of factors such as the condition of the bills, how long ago it was produced, and the quantity of them produced. If there are a large number produced, the value will be less, but it WILL go up in value over time - even if it's just a little bit. Now, some bills are rare and the condition won't matter as much. Try this website for grading info:
www.littletoncoin.com/html/Paper_Grading.html

Answer 4

As a bank employee, I know for a fact the Joseph' answer is totally false. Old bills are NOT taken out of circulation as long as they are in halfway decent shape. Earlier today I had a 1957 $1 bill in my hand. The average E-bay price as of when I typed this is $1.00.

Answer 5

Due to the fact that tons and tons of collectors are collecting these items now, there will be a saturation of these items long into the future. Maybe your great great grandchildren could benefit from this, but not in your lifetime. It's like anything else.. years ago people didn't keep Hotwheels in the package in pristine condition, they opened the packs up and hit the cars with hammers, burned them, painted them, etc. Now collectors by the thousands keep these items in environmentally controlled rooms, etc.. there will be tons of these for years to come..

Answer 6

Putting the money in the bank will earn you much more than saving the actual bill. Unless it is in perfect uncirculated condition forget it.

How come people from 50 years ago didn't just save piles of uncirculated bills as an investment for retirement? That is because you will earn more from investing the money than actually saving the bills.

Answer 7

YES!!!!!!! Old currency is backed by gold at Ft. Knox. It can ONLY increase in value. Money now, is only backed by our faith in the federal government. I'm SERIOUS!! Look it up. A $500 bill, now, is worth $1000's. Anything will effect the value, circulation, folding, etc. But it will always be worth more than face value. So, if you see a $500 bill for $500. Even if it is horrible looking. BUY IT!!!!!!!!!

Answer 8

Yeah, they probably will be worth a lot in the future. But, in many many years long after the use of dollars.

Answer 9

I would say...yes...probably about $20 $10 and $5...depending on which denomination you're holding.

Answer 10

My guess is yes.
OLD money is now with a bit, so this generation of money, will probably be worth something in the future.