Some one dollar notes are very valuable if they have the right serial numbers or if they're in mint condition. The rarest Australian dollar note can sell for up to $7,500. Although Australians use one dollar coins today, 1 dollar notes are still incredibly popular with collectors decades after they were replaced.
Some Australian 2 dollar notes can be particularly valuable with certain serial numbers or if they are in mint condition. Values can reach up to $5,000 for the rarest old Australian two dollar bill. Many non-collectors think it is crazy that 2 Australian dollars might be worth that much money!
If the $2 bill was minted and printed before 1976, it will likely be worth more than its face value on the collectibles market. In some cases, it might be worth only $2.25. The highest value is $4,500 or more for uncirculated notes from 1890, although most of those bills range in value from $550 to $2,500.
The Reserve Bank, and most commercial banks, will redeem old Australian banknotes at face value. If you take your old banknotes to a commercial bank they may exchange them for current banknotes.
The Reserve Bank of Australia has estimated that approximately 19 million one dollar notes are still in circulation, so most Australian 1 dollar notes are still only worth a dollar each. Some one dollar notes are very valuable if they have the right serial numbers or if they're in mint condition.
Standard two-dollar paper notes from 1988 - the last year of issue before Australia switched to a two-dollar coin - are now fetching as much as 10 times their nominal value. A one-dollar note from 1972 - featuring a delightfully youthful looking Queen Elizabeth II - can be worth as much as $95.
Low or High Serial Numbers: Those below 1000 or 100, for example 00000100, can sell for $300. In the case of highs it would be 99999900, or something similar. Of course, there are exceptions: A serial number 00000001 could be worth up to $15,000.
The highest value for a $2 note was found on 1890 Treasury Note versions, with the circulated version worth between $550 and $2,500, or at least $4,500 if uncirculated. The collector value is the same for both versions of the 1890 bill, either with a brown seal or a red one.
For those wanted to cash in big on their $2, look for a red seal. If it was printed in 1890 and uncirculated, it's worth $4,500. Other $2 bills with the red seal range from being worth $300 to $2,500. Some bills with brown or blue seals are also worth hundreds of dollars.
Surprisingly, old Australian paper banknotes can be quite valuable. Online banknote and coin specialist site, The Right Note, are selling notes ranging between $1500 and $15,000.
The Australian one-dollar note was introduced in 1966 due to decimalisation, to replace the 10-shilling note. The note was issued from its introduction in 1966 until its replacement by the one-dollar coin in 1984. Approximately 1.7 billion one-dollar notes were printed.
A new $2 coin commemorating the end of the Vietnam War has skyrocketed in value and is now selling for up to $1,200 online. The Royal Australian Mint released two $2 coins earlier this month to commemorate 50 years since the end of Australia's involvement in the Vietnam War.
The reality is that unless you started collecting the coloured $2 coins in 2012, you are unlikely to find anything that has much value. It is possible to find the odd needle in the haystack, but it's uncommon that you're coloured $2 coin has any significant value.
Even an uncirculated $2 bill won't be worth more than face value if it was printed after 1976. However, most $2 bills were created between 1862 and 1918, and these are highly collectible, fetching at least $50 in well-circulated condition.
Some five dollar notes can be particularly valuable with the right serial numbers or if in mint condition, reaching up to $6,500 for the rarest Australian $5 note.
Most large-size $2 bills issued from 1862 through 1918, are highly collectible and are worth at least $100 in well-circulated condition. Uncirculated large-size notes are worth at least $500 and can go up to $10,000 or more.
Average Market Value and Price Range
As of May 2023, the average market value of a 1976 $2 dollar bill is around $3 to $5 in circulated condition. However, uncirculated bills in crisp condition can fetch up to $30 or more depending on their rarity and condition.
"Old" Federal Reserve Notes, 1928, 1934, 1950, 1963, etc. Most circulated Federal Reserve Notes from more modern series are worth no more than face value. Some of the early series notes (1928 and 1934) do carry a small premium, although for circulated notes this premium is small, usually 10% to 30%.
Generally, the more unique the serial number on your dollar bill, the more likely it is to be worth more than face value. Some examples of uniqueness include repeating numbers, numbers with a star after them and sequences (such as 12345678).
The star notes that are priced the highest have extremely low serial numbers (such as 00000010), have multiple bills in sequential order or are older. But these rare bills can easily turn a $1 bill into $500 of value if you find the right buyer.
1901-S. According to the Professional Coin Grading Service, the 1901-S is the rarest Morgan silver dollar to find in true mint condition.
The first two numbers of the prefix, which indicate the year the banknote was produced, are the same for all banknotes printed in the same year. All banknotes on a sheet will have the same suffix, which decreases by one from one sheet to the next.
USA 1882 $100 Gold Certificate – $117,500 (£94k)
Gold certificates were used as paper currency in the USA between 1863 and 1933. They guaranteed the bearer the note's value in gold. The rarest specimens are worth a fortune – this 1882 $100 version, one of just seven, went under the hammer for $117,500 (£94k) in 2013.