The 1934 $500 note is significant, historically, in the currency of the US. This note is not only a high-value currency, but its historical importance and rarity also engender much interest among collectors. Herein we will discuss in detail everything that contributes to the valuation of this bill, its historical significance, design, and current market values.
History of the 1934 $500 Bill
High denominations were principally used by banking institutions and for government transactions throughout the 19th and 20th centuries. The $500 bill of 1934 was for the same purposes.
Design and Features
- Obverse: The front side of this note displays a portrait of William McKinley, the 25th President of the United States, who was in office from 1897 to 1901 and died in an assassination attempt in 1901.
- Reverse: The reverse side of the bill displays large numbers spelling out “$500,” indicating the denomination.
- Seals and Markings: These notes were issued from different Federal Reserve districts and had different letter codes and seal colors.
- After 1945, the demand for high-value currency declined, with the notes of $500, $1,000, $5,000, and $10,000 formally retired by the U.S. government in 1969. However, these notes continue to be legal tender and are growing in value due to their scarcity.
Current Market Price of a 1934 $500 Bill
The value of this note depends on many variables, such as condition, rarity, seal color, and serial number. Below are some of the common ranges that could apply:
| Feature | Approximate Value Range |
|---|---|
| Standard Circulated Note | $1,250 – $10,000 |
| Uncirculated Note | Up to $20,500 |
| Star Note | $1,800 and above |
| Light Green Seal | Higher end of value range |
Note: The above prices are just estimates and are subject to change based on market conditions and demand.
Factors That Affect the Price of a 1934 $500 Bill. The 1934 $500 note is significant, historically, in the currency of the US. This note is not only a high-value currency, but its historical importance and rarity also engender much interest among collectors. Herein we will discuss in detail everything that contributes to the valuation of this bill, its historical significance, design, and current market values.
History of the 1934 $500 Bill
High denominations were principally used by banking institutions and for government transactions throughout the 19th and 20th centuries. The $500 bill of 1934 was for the same purposes.
Design and Features
Obverse: The front side of this note displays a portrait of William McKinley, the 25th President of the United States, who was in office from 1897 to 1901 and died in an assassination attempt in 1901. This $500 note of 1934 is significant historically in currency within the US. It is not just a high-value currency note; it has historical significance and rarity that generate much interest among collectors. We will take you through all that makes this bill valuable—its historical significance, design, and current market values.
History of the 1934 $500 Bill
High-denomination notes have primarily been used by the banks and for government transactions throughout most of both the 19th and 20th centuries. The same is true of the $500 bill of 1934.
Design and Features
- Obverse: it would be a portrait of William McKinley, the 25th President of the United States, who served from 1897 to 1901 and was shot in an assassination attempt in 1901.
- Reverse: The back of the currency displays giant numbers reading “$500” to indicate the denomination.
- Seals: These notes were issued from different Federal Reserve districts, and they had different letter codes and seal colors.
- Demand for high-value currency began to decrease after 1945, and indeed notes in the denominations of $500, $1,000, $5,000, and $10,000 were formally retired by the U.S. government in 1969. However, these notes continue to be legal tender and increase in value because of their rarity.
Current Market Price of a 1934 $500 Bill
The value of this note is tied to factors such as condition, rarity, seal color, and serial number. The following represents some of the common ranges that could be applicable:
- These estimates are subject to fluctuations in conditions and demand on the market.
- Factors Affecting the Price of a 1934 $500 Bill. Notes with light green seals are considered more rare, which makes them more valuable.
Is the 1934 $500 bill still legal tender?
Yes, it is still legal tender, but its collector’s value is much higher than its actual price. Therefore, instead of using it in general transactions, it would be more profitable to sell it as a collectible.
Conclusion
The $500 bill of 1934 is not only a rare currency, but it is also an important part of American financial history. Due to its high price, historical significance, and unique features, it remains extremely attractive to currency collectors around the world.
If you have this note, store it properly and get its authenticity and value assessed by an expert. Because its price can increase even more with time.
FAQs
1. How rare is the 1934 $500 bill?
A. It is one of the extremely rare notes, as it was officially discontinued in 1969. Only a few notes are left in the market, which makes them worth a lot.
2. How can I check if my 1934 $500 bill is real or fake?
A. If you have this note and want to check its authenticity, you can get it verified by grading services like PCGS or PMG.
3. What is a star note, and why is it more expensive?
A. Star Notes were specifically issued as a replacement for misprinted notes, and there were very few of them. For this reason, they are more rare and valuable.
4. Do all 1934 $500 bills feature a picture of President McKinley?
A. Yes, all 1934 $500 bills feature a picture of President William McKinley.
5. Where can I sell my 1934 $500 bill?
A. If you have this rare note and want to sell it, you can sell it at the following places:
Reputable Currency Dealers
Online auction houses such as eBay and Heritage Auctions
Collectors Marketplace
It is necessary to get its correct value appraised before selling so that you get a fair price.