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Collecting 1929 Series U.S. Currency

Collecting 1929 series U.S. currency requires an understanding of paper printed and circulated that year. The U.S. Treasury decided to save money on ink and printing costs in 1928. Larger "horseblankets" began the slow process of retirement as smaller notes began to circulate in July 1929. Choose fine-quality or better condition specimens for resale purposes. Select denominations of $100 or less. Larger denominations, although rare, command stellar prices when available. Select design rarity first. Combined high marks in design and condition mean great rarity for your collection.

Things You'll Need

Capital
Numismatic reference materials
Computer
Internet connection

Instructions

Basic Considerations for Collecting 1929 Series U.S. Currency
- 1
  
  Learn about the specific elements of grading and evaluation before purchasing 1929 series currency.
  
  Learn about the 1929 series before purchasing notes for your collection. Denomination size, currency condition and grade, and note specifics help determine currency value.
  
  The American Numismatic Society provides free access to many educational materials online. Access to their library in downtown Manhattan is also free. Helpful library staff members go the extra mile to identify research materials you may need.
- 2
  
  Study the minute characteristics of currency to evaluate its condition and currency grade.
  
  Memorize the characteristics of each currency grade level. The highest quality 1929 series currency, called "gem uncirculated," evades most collectors. Choose crisp, fresh and brightly colored bills when possible. Printing precision means higher value. Select well-centered bills with full margins over those with smudges and creases.
  
  Most selective buyers won't acquire notes of less than fine quality, although very rare currency may always find a buyer. Design rarity and specifics matter, regardless of condition.
- 3
  
  National Bank Notes bear the names of many defunct banks in the United States.
  
  Distinguish the differences between 1929 series Federal Reserve Bank and National Bank Notes. Subtle differences separate them. Both state "National Currency," and both exhibit a brown seal of the Treasury. The bank name to the left of the portrait determines the difference. If the bill says "The Federal Reserve Bank" of any of the Fed's 12 district banks, you have a Federal Reserve Bank Note. "The First National Bank of Berryville Arkansas" or the "National Bank of Wareham Massachusetts" or the "Union Planters National Bank and Trust Company of Memphis Tennessee" announces National Bank Notes.
  
  Federal Reserve Bank Notes present more often than National Bank Notes. However, all notes of the Dallas Federal Reserve should command your attention. Rarity of these notes commands higher prices. Star Notes of the Federal Reserve Bank variety also demand high prices.
- 4
  
  Establish the range of values for 1929 series currency.
  
  Know the value range for the 1929 series currency. A wide range of values exists for National Bank Notes. Notations of rarity should be understood. Fourteen thousand banks issued the 1929 series National Bank Notes, so most collectors decide to specialize in a state, city or an individual financial institution. The market for a specific National Bank Note may appeal to a smaller number of collectors for this reason. Demand for a certain note conveys value. Market value may not reflect scarcity.
- 5
  
  Printing errors on 1929 series currency may add value to your collection.
  
  Print errors on notes increase their value. When a note shows $5 printed on one side and $10 on the other, white spots, and other errors, its value may dramatically increase. Review market prices and offers from online and local dealers.

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