The Reserve Bank of Australia has estimated that approximately 19 million one dollar notes are still in circulation, so most Australian 1 dollar notes are still only worth a dollar each.
Surprisingly, old Australian paper banknotes can be quite valuable. Online banknote and coin specialist site, The Right Note, are selling notes ranging between $1500 and $15,000.
Some Australian 2 dollar notes can be particularly valuable with certain serial numbers or if they are in mint condition. Values can reach up to $5,000 for the rarest old Australian two dollar bill. Many non-collectors think it is crazy that 2 Australian dollars might be worth that much money!
The first two numbers of the prefix, which indicate the year the banknote was produced, are the same for all banknotes printed in the same year. All banknotes on a sheet will have the same suffix, which decreases by one from one sheet to the next.
Standard two-dollar paper notes from 1988 - the last year of issue before Australia switched to a two-dollar coin - are now fetching as much as 10 times their nominal value. A one-dollar note from 1972 - featuring a delightfully youthful looking Queen Elizabeth II - can be worth as much as $95.
While rare serial numbers often generate interest, banknotes will only ever be worth their face value to us.
Age - Older 2-dollar bills are more valuable than newer ones, as a general rule. Serial number - 2-dollar bills feature different serial numbers, some of which are more valuable. Misprints - Certain misprints, such as seals that are doubled or not placed properly, are very rare but are valuable.
For those wanted to cash in big on their $2, look for a red seal. If it was printed in 1890 and uncirculated, it's worth $4,500. Other $2 bills with the red seal range from being worth $300 to $2,500. Some bills with brown or blue seals are also worth hundreds of dollars.
A new $2 coin commemorating the end of the Vietnam War has skyrocketed in value and is now selling for up to $1,200 online. The Royal Australian Mint released two $2 coins earlier this month to commemorate 50 years since the end of Australia's involvement in the Vietnam War.
Generally, the more unique the serial number on your dollar bill, the more likely it is to be worth more than face value. Some examples of uniqueness include repeating numbers, numbers with a star after them and sequences (such as 12345678).
Most commercial banks will redeem old Australian banknotes at face value. A commercial bank may require some time to confirm that a banknote from a previous series is genuine or may need to send such banknotes to the Reserve Bank for confirmation.
Notes that have serial numbers with digits that ascend or descend are also pretty prized. Called "ladder bills," the most sought-after examples are bills that feature the so-called "perfect" ladder serial numbers: 12345678 and 87654321.
In addition to the $1, $5, $10, $20, $50, and $100 bills, there have been other U.S. banknotes in circulation. There are still 1.4 billion $2 notes in circulation. Today, a $500 or $1,000 bill may be worth more than its face value. The $10,000 bill was the largest denomination ever to be printed for public consumption.
Many banks accept withdrawn notes as deposits from customers. The Post Office will also accept withdrawn notes as a deposit into any bank account you can access at the Post Office. And you can always exchange withdrawn notes with us.
USA 1882 $100 Gold Certificate – $117,500 (£94k)
Gold certificates were used as paper currency in the USA between 1863 and 1933. They guaranteed the bearer the note's value in gold. The rarest specimens are worth a fortune – this 1882 $100 version, one of just seven, went under the hammer for $117,500 (£94k) in 2013.
According to the USCA website, any $2 bill with a red seal printed between 1862 and and 1896 is worth big bucks. The top payout is $4,500, and that's if the bill was printed in 1890 and uncirculated. Other $2 bills with the red seal range in worth from $300 to $2,500.
Most large-size $2 bills issued from 1862 through 1918, are highly collectible and are worth at least $100 in well-circulated condition. Uncirculated large-size notes are worth at least $500 and can go up to $10,000 or more.
Average Market Value and Price Range
As of May 2023, the average market value of a 1976 $2 dollar bill is around $3 to $5 in circulated condition. However, uncirculated bills in crisp condition can fetch up to $30 or more depending on their rarity and condition.
The highest value for a $2 note was found on 1890 Treasury Note versions, with the circulated version worth between $550 and $2,500, or at least $4,500 if uncirculated. The collector value is the same for both versions of the 1890 bill, either with a brown seal or a red one.
Of course, there are exceptions: A serial number 00000001 could be worth up to $15,000. Binaries: Those in which the serial number is made up of only two different numbers, can be worth up to $800 dollars. For example: 29299299. Solid: Bills with a solid digit in their serial number can be worth up to $500.
1976 Two Dollar Bill Serial Number Error Bills in very fine condition are valued at roughly $500. 1976 Two Dollar Bill Serial Number Error Bills in uncirculated condition are valued at roughly $900. So if you come across a $2 bill, it is worth looking at what decade it comes from and any unique individual features.
Not all old fivers are valuable, but there are certain things that can cause their price to skyrocket. These include things like a quirky serial number, banknotes with errors or simply being very rare.
Although they haven't been in circulation for over almost 60 years, they are still collected and there is no accurate figure for the number left in existence. Some of the rarer white five pound notes can fetch in to the thousands of pounds.