TAMPA, Fla. (WFLA) — An “ultra rare” $500 banknote from the 1930s is set to be auctioned off Wednesday.
According to Hansons Auctioneers, the banknote was printed 90 years ago and is part of a major collection of rare USA notes uncovered in Wales.
William Hayward, a coin/banknote valuer at Hansons, said the banknote is rare for a number of reasons. For starters, Hayward said just having a $500 note in your pocket in 1934 would have been extremely unusual.
“It’s also unusual because it hasn’t been redeemed,” Hayward said. “They are still legal tender. $500 dollars is still $500 dollars at the end of the day. The United States no longer issues bills in larger denominations, such as $500, $1,000, $5,000, and $10,000 bills, but some may still be in circulation. The $500 was officially discontinued by the US Congress in 1969 and the Bureau of Engraving and Printing (BEP) has not printed one since 1945.”
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Hansons said the notes were sometimes used for land or property purchases.
Based on inflation, the $500 note would be worth $11,619.17 today, according to Hansons.
The auction at Hanson’s Auctioneers in Derbyshire is scheduled for June 26. The guide price for the note was between £800 and £1,000, or around $1,000 and $1,260.
