Is there a market for old bank notes?

Our market is unusual in that all notes issued by the Bank of England are guaranteed to be worth their redeemable value. (Only notes issued in the US from the mid 19th century onwards carry such guarantees. )

Are old notes worth anything?

While rare serial numbers often generate interest, banknotes will only ever be worth their face value to us.

Where can I change old bank notes?

The Post Office
At your bank If you have a UK bank account, the simplest and quickest way to exchange your notes will normally be to deposit them with your bank. The Post Office may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account you can access with them.

How long are old bank notes valid?

The Bank of England have to give up to six month’s notice to when an old bank will cease as legal tender. This enables an adequate amount of time for the public to spend their old note before it expires.

What do you do with old bank notes?

How do I exchange withdrawn Bank of England notes? Many banks accept withdrawn notes as deposits from customers. The Post Office will also accept withdrawn notes as a deposit into any bank account you can access at the Post Office. And you can always exchange withdrawn notes with us.

How do I exchange old notes?

Exchanging old notes You need not visit the branch of the bank where you have an account in. If you want to exchange up to Rs 4,000 in cash, you can simply go to any bank with a valid ID proof. This limit of Rs 4,000 for exchanging old notes will be reviewed after 15 days.

What do I do with old banknotes?

If you have a UK bank account, the simplest and quickest way to exchange your notes will normally be to deposit them with your bank. The Post Office Opens in a new window may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account you can access with them.

What is the rarest note?

The 1890 Grand Watermelon Bill is the rarest and most famous of all US currency notes.

Can old notes be exchanged now?

The old currency notes of Rs 500 and Rs 1000 can now only be exchanged at the offices of the Central banks. A valid identity proof is required for the exchange of the old currency.

Do banks take old 5 notes?

FOR £5 AND £10 NOTES ONLY. If your bank or post office can’t help, you can swap paper notes for polymer versions at the Bank of England. You can do this in person at the Bank of England counter at Threadneedle Street, London.

Can you exchange old 10 notes at the post office?

The Post Office may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account you can access with them. If your bank doesn’t accept old notes or you can’t access it via a post office, don’t worry.

What is the last date to exchange old notes?

All Rs 500 and Rs 1,000 notes to be deposited into banks or post offices from 10th November to 30th December 2016. After 30th December 2016, Rs 500 and Rs 1,000 notes will be accepted till 31st March 2017 in several RBI branches after taking declaration from RBI.

Are there any banknotes that are still worth money?

All of these banknotes have been devalued and are no longer good at their face value. However, many obsolete notes are today worth many times their face value, especially to dealers and collectors like us. We have the only guide on the internet that lists all of the banks that issued obsolete money.

Is the serial number on a banknote worth anything?

While rare serial numbers often generate interest, banknotes will only ever be worth their face value to us. The banknotes we produce will always be worth their face value. Even for banknotes that no longer have legal tender status.

What’s the value of a UK banknote from 1960?

It was never circulated, and was only ever used to make internal transfers within the Bank of England. It had also been cancelled, so wasn’t worth its face value, but it still fetched a record for a UK banknote of £101,000. As a rough rule of thumb, Pattison says anything from before 1960 is worth getting valued.

What does it mean when a banknote is obsolete?

Obsolete Banknote Guide. Paper money issued between 1782 and 1866 by state banks is called obsolete money. All of these banknotes have been devalued and are no longer good at their face value. However, many obsolete notes are today worth many times their face value, especially to dealers and collectors like us.