Sign In or Create Account

Knowledge Center

How Can I Sell My Golden Bank Notes if No One Accepts Them as Payment?

What is the Best Way to Sell Historic National Gold Bank Notes?

The good news is that your National Gold Bank Note should be worth much more than its face value and it is fortunate that you still have it!

The United States Treasury printed 200,558 National Gold Bank Notes in the 1870’s and 1880’s. The total value of those notes was $3,465,240. Adjusting for inflation, this would be $102,643,153.54 in today’s dollars.

Who Issued National Gold Bank Notes?

Nine national banks in California and one national bank in Boston issued National Gold Bank Notes from 1871 through 1883. These were printed on yellow paper and redeemable for a designated amount of gold in six denominations from $5 through $500. A $1,000 National Gold Bank Note was printed but never issued to the public.

Today, larger denomination National Gold Bank Notes are a rare find. There are about 630 known National Gold Bank Notes with only twenty of those graded above VF or Very Fine.

Why Can’t I Pay for Dinner with a National Gold Bank Note Today?

The modern banking system does not support the use of Gold Bank Notes. The United States departed from the gold standard in 1933 and today’s U.S. Dollar is backed by the Federal Government instead of a precious metal.

National Gold Bank Notes were widely used in their time but are not used in commerce today. Imagine the surprised look on a cashier’s face if you handed them what was $20 in gold by 1880 standards. That would be about one ounce of gold, which is worth close to $2000 today.

How do I Sell My National Gold Bank Note?

Despite the limitations of using them, your National Gold Bank Note still has value and has magnitudes beyond its face value to the right collector. These notes are a tangible reminder of the growth of American currency, as well as America’s evolving relationship with gold.

To sell your Gold Bank Note, you will want to find a buyer who understands its historic and numismatic value. Start by finding and contacting private collectors online or in collector communities in your region. If you do not find a buyer there, consider either a numismatist or a gold dealer.

Whoever you sell your National Gold Bank Note to, you should be able to make a substantial amount of money if it is in halfway decent condition. It is imperative to beware of scams and frauds when selling valuable historic items. Before selling, it would be wise to have a professional grader examine your note and help you determine a fair price to sell it.

Quick Guides to Investing

Step 1:

Why Buy Physical Gold and Silver?

If you are concerned about the volatility of the stock market, you’re not alone. The extreme highs and lows of the stock market often lead investors towards safe-haven assets, like bullion. Historically, the Precious Metals market has an inverse relationship with the stock market, meaning that when stocks are up, bullion is down and vice versa.

Step 2:

How Much Gold and Silver Should You Have?

This question is one of the most important for investors to answer. After all, experts suggest limits on how much of any types of investments should go into a portfolio. After deciding to purchase and own Precious Metals and considering how much money to allocate, one can then think about how much and what to buy at any point in time.

Step 3:

Which Precious Metals Should I Buy?

With the frequent changes in the market and countless Precious Metal products available, choosing investments can be difficult. Some want Gold or Silver coins, rounds or bars while others want products that are valuable because of their design, mintage or other collectible qualities. Also, collectors may shop for unique sets and individual pieces for their collections.

Step 4:

When to Buy Gold & Silver

After considering why, how much, and what Precious Metals products to buy, an investor’s next step is when to buy them. This decision requires an understanding of market trends and the impact of economic factors on precious metal prices.

Explore More On APMEX



Rare Coins