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These misprinted Canadian bills are actually the ones worth any money.Ī quick glance on eBay for people selling regular $2 bills paints a not very sunny picture for hopeful sellers: they’re going for just a little over their face value, and most never get any bids anyway.
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The 1986 $2 notes with the AUG, AUH, and AUJ serial numbers should include the signatures of Bank of Canada governor Gerald Bouey and deputy governor John Crow, but some instead had the signatures of Bank of Canada governor John Crow and deputy governor Gordon Thiessen. Instead, it was because the signatures of the wrong officials were on it. Indeed, a $2 paper bill at auction did sell for $10,000 - but not because it was $2. You might have heard that the discontinued $2 Canadian bill is worth $10,000 - but that's wrong. Let's first dispel a common misconception surrounding old Canadian paper bills, which became popular in 2014. You might just find a rare Canadian bill worth thousands of dollars!īe Aware of the Myths Sorry, Most $2 Canadian Bills Are Useless To help streamline your process of assessing your paper money, we’ve also outlined some tips and information to help you determine the value of your old Canadian bills.
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Consider how to best assess the value of your Canadian money and where to sell old Canadian bills.
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We offer free evaluations to help you identify the value of old Canadian bills you may have uncovered. A trusted Canadian brand like Muzeum can easily identify your Canadian paper money value.
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If you have old banknotes lying around in drawers or boxes stuffed away in closets, it’s worth identifying if they hold more value than meets the eye. What happens if one of them is rare and ends up being worth more than its face value?ĭon’t underestimate the value of your old Canadian paper bills. That said, you may want to consider the value of your old Canadian paper bills before you return them to a bank. The Bank of Canada will still honour the value of old Canadian paper money – all you have to do is return the bills to a financial institution. As of January 1, 2021, you can no longer use these discontinued Canadian bills in transactions: $1, $2, $25, $500, and $1,000. The government is removing the status of old Canadian bills in an effort to reduce counterfeiting since they lack the security features that current in-print bills have. The last letter still can be anything but O or Z, and is still occasionally replaced by a star, with the same meaning as before.It’s time to turn in your old Canadian paper money.
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On these notes, the first letter corresponds to the series of the note and the second letter of each serial number now represents the issuing FRB and ranges from A through L. A "star" note has its own special serial number followed by a star in place of a suffix letter.įederal Reserve notes, beginning with Series 1996, have two letters rather than one at the beginning of the serial number. Reusing an exact serial number to replace an imperfect note is costly and time consuming. A "star" sheet is used to replace the imperfect sheet. When an imperfect sheet is detected during the manufacturing process after the serial number has been overprinted, it must be replaced with a new sheet. On some notes, a star appears in place of the last letter. The letter O is not used because of its similarity to the digit 0, and the letter Z is not used because it is reserved for test printings. At the time of a series change, the suffix letter returns to the letter A and repeats the cycle. The last letter advances through the alphabet when all eight character serial numbers have been printed for a specific Federal Reserve Bank within the same series. The first letter of such a serial number identifies the Federal Reserve Bank (FRB) which issued the note since there are 12 FRBs, this letter is always between A and L. Up through Series 1995, all Federal Reserve notes had serial numbers consisting of one letter, eight digits, and one letter, such as A12345678B now only the $1 and $2 notes still use this form. Each note of the same denomination has its own serial number.