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At one time, it was speculated that the notes signed by Treasurer Joseph W. Barr would eventually hold a high numismatic value since he was in office for only 23 days in 1968-69. However, during that period, a total of 484 million notes were produced with his signature. The high quantity produced dictates that the notes will never be considered rare in our lifetime. Interestingly, in 1995, numismatic author Alan Herbert stated, "A $1 Barr note deposited in an interest-bearing account in 1969 would have been worth over $4.00, figuring 6% interest compounded annually. A circulated Barr note kept in a safe-deposit box for 26 years is worth $1 today
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A misprinted currency note is known in numismatics as an error note, or simply a mistake that occurs during the printing process at the Bureau of Engraving and Printing (BEP). With the stringent quality controls practiced by the BEP, the chances of error notes reaching the public are really quite slim, but it does happen. Oftentimes these notes have numismatic value above the legal tender-value. The amount generally depends on the denomination, the complexity of the error and the condition of the note.
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As an aside, it is interesting how poorly high denomination U.S. notes have performed as an investment. Anyone would have fared much, much better by depositing the $500 or $1,000 in even a low-interest savings account in the 1940's or 1950's when these circulated, as the return would have been much higher than on a $500 or $1,000 bill. In fact, the return on $5,000 and $10,000 bills is very poor compared to other investments-yes, even the stock market, where despite the bear market of the last couple of years, $5,000 or $10,000 invested in stocks when these notes were printed would be worth many multiples of what these notes are now worth. The moral is, of course, that if you are "hanging on" to high denomination notes in the hopes that they are a good investment and will be worth much more one day, history is not encouraging.
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Making money whole again - When dollars get damaged, all is not lost
Wed, 05 Nov 2008 16:19:00 +0000
There's no magic cure for money lost in the stock market, but if the cash you buried in the backyard or stashed under your mattress gets damaged, there's help at hand.
The U.S. Treasury Department's...
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Numismatic Landscape - Commentary By Doug Winter
Sat, 29 Nov 2008 01:04:04 +0000
ValueQuest 2009
I have the feeling that the Numismatic Buzzword for 2009 is going to be “value.” If you are like most collectors, your purchases in the coming year(s) are not going to be as extensive as they were in the past. If you are buying fewer coins, you’ll want to stretch your coin purchasing dollars ...]
commemorative australian silver kangaroo dollars | eisenhower uncirculatred silver dollars | get morgan silver dollars
Labels: 1981 panda silver dollars | commemorative silver half dollars
posted by Coin Man @ 12:21 PM
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