Old coins and paper money are extremely popular among collectors. They're interesting to look at, easy to store and represent a small piece of history. Like most collectibles, old currency can sometimes be highly profitable when sold. Whether you're a collector looking to pare down or get rid of your collection, or you happen to have some old currency you don't want, the procedure for selling it is the same.
Find a coin or currency dealer in your area and bring your old money to them for appraisal. This is the most accurate and reliable means of getting an estimate of how much you can expect to sell the money for, as dealers will know both current market trends and how to go about classifying the condition of the money. Dealers who specify in currency will most likely be listed in the phone book under "Hobbies" or "Coins."
Take your old currency to other dealers in the area to compare appraisals. It's important to shop around since the value of old currency is somewhat subjective and any given dealer's appraisal may reflect the currency the dealer currently has in stock as well as his knowledge of the items in question.
You may also place your old currency up for auction online. Going online means depriving your potential buyers of the ability to look directly at and appraise your currency, so your auction listing should include as much information as you can possibly share about the money, including any information received during prior appraisals. You should also post online a high-resolution digital photograph of both sides of each piece of currency.
Sell the money to the dealer locally who offers the highest quote or sell it online to the individual who offers the highest bid if either figure is acceptable to you.
Things you need
- Old currency
- Digital camera