How to Sell Old Bank Notes

Written by alice morello
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How to Sell Old Bank Notes
Your old bank notes could bring you more money than you think. (old banknotes image by Catabu from Fotolia.com)

The first country to issue bank notes was China in the 13th century. The idea rapidly spread. During the last century, old bank notes became a common object to collect. A market of old and rare bank notes exists now, especially in countries with many currencies or different issues of bank notes. Some of these are the United States, United Kingdom, France, Italy and Germany. If you have an old bank note and want to sell, you need to follow some specific steps.

Skill level:
Easy

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Instructions

  1. 1

    Determine the approximate value of the old bank note. You can use a catalogue or go to an expert. If the bank note is very old, it may need restoration. For this, you must go to a special laboratory, company or expert.

  2. 2

    Choose where you will sell your bank note. You can do it privately, but it is better to try to sell it online or at an auction. If you don't need the money quickly, your first option should always be an auction house.

  3. 3

    Schedule a meeting with an auction house to get an evaluation of your bank note. A specialist will check to see if the bank note is genuine. The specialist also will assess the quality of the note and recommend a selling price. If you agree with the price, sign a contract.

  4. 4

    Make sure your bank note is in the auction catalogue or presented online. In some cases, a client will make you an offer. If you accept, the company will send the money to your account in few days.

  5. 5

    When the bank note is presented at auction, you can check online or by phone whether it was sold. The auction house will inform you next day if someone buys it. They will send you the money in approximately two weeks. If you do not sell the bank note, you can ask the company to add it in the next catalogue for the next auction. You will have to pay a commission for the second auction.

  6. 6

    If you do not want to sell your old bank note at an auction, you can contact a dealer. The drawback is that you might get a lower price. This is a good option if you need the money quickly. You can try also to sell the bank note on a reputable online bidding website such as eBay.

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