Expert: PAPAJACK - 3/22/2007

Question
Hi, Could you please give me the value of my $5.00 bill. It is a C series, dated around the 1935's. Thank you in advance, I have been reading your answers to the questions and I feel very lucky to have found you. Thanks, Tina

Answer
Hello Tina,   

In general these notes are not rare and rather plentiful in circulated condition. Only after the grade is determined can you use a price guide, or can it be properly appraised.

The main Grades are FINE,  EXTRA FINE and CRISP UNCIRCULATED.

The condition and rarity for the condition are the big factors. I must start by letting you know U.S. Currency is not my field. I don't have a price guide for your piece. Since grading paper is so involved, the easiest way is to let a dealer or local shop take a look at it.  Notes cannot be properly evaluated without seeing it. I can give you a list of conditions and a range of value for it.
You need to look a bit closer at your note. Look at the Series year and is there is a letter after the date.
Also, What does it say across the top (above the portrait) United States Note,  Federal Reserve Note.
The $5.00 note is not uncommon. Depending on things like stains and folds it's price will change drastically.

As I said paper money is hard to grade without experience. Coins have the same problem if you haven’t been grading long.

Here is a general guideline for paper money below is a little long but a good read.

When grading paper money it is essential to first determine if the note may be safely removed from its holder without causing any damage due to brittleness, unseen tears, glue remnants etc. Then, carefully remove the note and holding it lightly, consider the general appearance, amount of wear, the hue and intensity of the color of both the face and back.
Determine a preliminary grade. If the note is Fine or better it should be held obliquely in line with a good light source. Move it around at various angles, such that the light will reflect off the note highlighting any ripples, counting creases, heavy creases, pressed out creases, tears, pinholes cancellations, repairs or fading. Mastery of this technique is mandatory in successfully grading paper money. When these aspects have been carefully considered, decide if these are "normal" for the preliminary grade which was determined.
If not, hen the grade may have to be reduced depending on the number and severity of the defects, or the defects will have to be listed in addition to the overall grade, followed by any unusual defect, than to downgrade the note. Careful inspection to determine the correct grade will lead to greater trust and confidence between buyers and sellers of notes.

UNCIRCULATED - UNC: A perfect note. Crisp and clean as issued and without any folds, creases, blemishes or discoloration. Colors have original hue and brightness. Some issues may have ripples [as made]. Mention must be made if the design is not perfectly centered with usual width of margins.

ABOUT UNCIRCULATED - AU: Similar to Uncirculated but with the allowance of a light fold [usually a vertical center fold] or two or three very light counting folds, but not both. Counting creases resulting in broken paper fibbers, or any other creases, reduce the grade depending on their number and severity. The practice of using "almost" and "about" to designate a slightly lower or a plus in the case of lower grades to designate in-between grades is common, e.g. "almost AU" or "EF plus". Notes not perfectly centered with width of margins must be so described.

EXTREMELY FINE - EF: Similar to Almost Uncirculated but the center fold, vertical or horizontal, may be a crease, i.e. paper fibbers are broken, or there may be up to three heavy counting folds [not creases] or two light creases, but no combination of the above. The centering and margins if not perfect must be noted.

VERY FINE - VF: A fairly crisp and clean note. It may have several major and minor creases and folds, and some evidence of wear especially along the edges or at the corners. There may be some slight decrease in hue and intensity of the colors. The design in the creases should not be worn off.

FINE - F: A note with considerable evidence of circulation. Numerous creases and folds, but a small degree of firmness remaining. Usually fairy soiled and the hue and intensity of the color are slightly reduced. There may be a slight amount of the design worn off along the major creases. Creases should not be worn off.

VERY GOOD - VG: A heavily circulated note but with all the major design still visible. Usually limp with no crispness or firmness, quite soiled, hue and intensity of the color will be faded or altered. A moderate amount of the design may be worn off along the major creases or in the "counting creases" areas. Numerous other defects may apply [see list below]

GOOD - G: Soft and very limp, often with tears and small pieces missing. Usually some of the major design is worn off. Note may be quite dark in appearance. Manuscript signatures, dates and sheet numbers may be worn off or entirely faded out. Often has numerous tears and other defects.

FAIR - F: Similar to GOOD, but larger pieces missing. Manuscript signatures, dates and sheet numbers may be worn off or entirely faded out. Often has numerous tears and other defects.

POOR - P: As a fair note, but with a major portion of the note torn off or the design obliterated. Often numerous tape repairs. Generally collectable only because of rarity.

In addition, to accurately grade a note it is necessary to consider any additional impairments. These should include:
1. Minor counting creases or edge defects, especially for EF and AU grades.
2. Tears, pinholes or signature perforations.
3. Stains, smudges, crayon marks or writing.
4. Missing corners, cut and punch cancellations or edge defects.
5. Rubber stamp impressions.
6. Any repairs, such as with sticky tape, scotch tape, stamp hinge, etc.
7. Chemical damage, paste or glue from attachment to a page.
8. Poorly centered or badly trimmed edges.

A note with portions missing should be graded as if it were a whole note, then the amount missing should be fully described.

Only after the grade is determined can you use a price guide, or can it be properly appraised.

The main Grades are FINE,  EXTRA FINE and CRISP UNCIRCULATED.

There is a person listing fixed prices at the URL below give your note an approximate grade then copy the link into the address bar on your computer to look for a value.

http://www.sammler.com/coins/certificates.htm

Please remember to rate this answer at the bottom of this page. And check the nomination box on the rating page below any comments you may have.

Thank You and Good Luck

PapaJack