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Where and how to value old banknotes

Pricing old banknotes is not something you should take lightly, keep in mind that there are highly priced
banknotes on the market, with values, in some cases, higher than twenty thousand Euros.

When assessing banknotes, coins and other collector's items it is important to understand that in the end, you
get what you pay for, and although in this article you are going to learn how to make fairly comprehensive
assessments, years of experience are needed to obtain a thorough and accurate understanding of banknote
prices. I recommend that you get a small catalog with a price list so that you are able to assess your
banknotes yourself, or at least get a pretty good idea of their current market price.


Keep in mind that small differences, negligible in many cases in the eyes of a beginner, can make a banknote
be worth € 1000 instead of € 1, and it is not uncommon to meet people who lose thousands of Euros for
wanting to save the bit of money that costs to get a specialized catalog for old notes or coins.

Luis Herrero. Collector, geek, and world banknote expert.

A good catalog of banknotes and coins will save you trouble

Before starting this little article I want to remind you that you can contact us for pricing old banknotes, however, if you decide to do it on your own, I will give you some tips so that you have an experience as satisfactory as possible:

The difference between a trader and an appraiser

In this life very few things are free, and banknote collecting is no exception. An appraiser will always offer
you his services in exchange for obtaining some benefit, either through a fixed price per note or for a
percentage of the total value of the appraised. If what they offer you is the amount they are willing to pay
you, they are not making an appraisal but an offer to buy by trader. Quite a different thing is if they first
make for you a real appraisal and then make you a purchase offer for a lower value, understanding the
difference as payment for services.

How to value old banknotes

In order for you to find out what value old banknotes have, we give you below several points that you should
take into account:

  1. Exchange value. This is the face banknote value. For example, a 10,000 pesetas banknote has an exchange
    value of €60 that the Bank of Spain would give you. (The Bank of Spain exchanges the pesetas to euros until
    2020) So any 10,000 pesetas banknote would start from a value of €60 (until 2020), the rest of the value
    would be the real value for collecting.
  2. Banknote rarity. Here we are governed by the law of supply and demand. The fewer banknotes of the same
    type are on the market, the more collectors will be willing to buy it and the price will rise.
  3. Banknote status. What is going to give value to the banknote is the number of banknotes equal to yours that
    are on the market in a similar state. It may be that a banknote is very abundant in a bad state of preservation,
    but it is scarce in an uncirculated state, then normally, the price of the scarce banknote will reach very high
    prices while the same banknote in a poor condition would not be taken, even if given away for free!
  4. Banknote variety. Although two banknotes may seem exactly the same, there may be very small
    differences that make a banknote go from being common to being unique: Series, signatures, dates, errors,
    stamps, etc ... Each banknote has its special variations, and if we would detail them here this article would be
    never ending.

Now that you know that the value of your banknote will depend on the exchange, the rarity and the state of
conservation, it is time to get down to work and perform a research work consisting of searching auction
results to see the price for which your banknote has been sold. Here I want to emphasize that what you
should look at are actual auctions, since the internet is full of disproportionate offers that do not come close
to reality and that can confuse you. (you can put your Renault with 200,000 km for sale for 2 million Euros,
and die waiting for someone to buy it, and that will not mean that the car is worth that money) When
checking the results of a completed auction, it is done on the basis of actual data from what people have paid
for a banknote like yours, and this is the information we are looking for.

First research tool: Ebay. We will follow step by step how to check the value of our banknotes on eBay. By
way of an example we are going to find out the value of one of my favorite banknotes, 1000 pesetas from
1940 from the Bank of Spain. Let's start !!! We enter www.ebay.com and enter the face value, the currency
and the year, as you see in the image below.

Ebay is the largest auction house in the world and it would be strange if we would not find a price example
for which our banknote was sold.

Press enter or click on the Search button (It is obvious, but ... just in case). Now we are going to see on the
screen all the banknotes that are for sale at the moment, and this, as we have said before, does not interest us,
what we want to see is for how much they have been sold for, so we slid in the menu of the left until you find
the option "Sold Listings" or "Artículos vendidos", in the event that you are on an Ebay in Spanish, and
select the box.

On your screen you can now see that the price of the banknotes are in green, this is telling you the price for
which they has been sold and it is the value that you have to take into account. Check your banknote and
compare it with the banknotes you see here in a similar state. Another fact to consider here is the number of
bids each auction has had, the more bids there are, the more reliable the result. I advise you not to pay too
much attention to fixed-price sales or auctions with 1 bid as they could have been manipulated by sellers
(practice too common on EBay today.)

Your banknote does not appear in the list? Don't worry, that's a very good sign, it could mean that your
banknote is unique or very scarce. In this case, I recommend that you contact a professional, such as us.

And if you still have any doubts left, about the value of your banknotes, contact us, and we will try to help

Email: info@billetesantiguos.es

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