What would you do with these 2$ bills?

[dardonboi]

I have a friend well over 80 and not willing to take on computers. He has been a coin and bill collecter for 50 years. He wants to start selling his collection and has asked me to try to sell this set of 50-- 2003--$2.00 bills. There is one for each of the 50 states. He wants to list for $490. I have no idea about these things and really need help Please, Please PLEASE.

[JohnPGalt]

Are these plain $2 bills? Or have they been overprinted/painted (some would say defaced) with additional images?

Also, are the serial number consecutive? Have they been circulated?

"Bank uncirculated" $2 bills will often sell for a slight premium over face value. 2003 is the currently available series. If you walk into a bank and they get some for you (assuming they have any), you will most likely get 2003's, and they will likely come from a fresh, uncirculated pack.

"Art bills" which have been overprinted or hand painted or otherwise altered (defaced) are often sold as collectibles to unsuspecting buyers. To the extent that other people want to collect oddities, they might have some added value. However, collectors of coins and banknotes consider these items defaced and will not pay a premium.

[terry5732]

They're worth two bucks a piece

[dardonboi]

They are in hard plastic cases and are uncirculated. Hope these pictures will tell us what he has. I admit I know nothing about them.

[JohnPGalt]

I almost hate to answer this one. First, I'm sorry to have such bad news.

That is a set of "overlaid" $2 bills from the World Reserve Monetary Exchange. They still have them on their website for $588.

Those are not worth anything to a serious collector of banknotes. Here's what a real $2 bill looks like before it gets defaced (err, I mean "overlaid"):



As you can see, the ones you have look quite different. The overlay printing adds several new features, and it obscures other features of the original bills.

If you want to try to sell those, you'll need to optimize your listing to attract the keywords that World Reserve Monetary Exchange is targeting, and then hope that their "PT Barnum was right" marketing approach will work for you as well.

The notes in that set are worth $100. You can deposit them in the bank for that amount. Or you can leave them as tips when you go out to eat.

The "mahogany box" and plastic holders have some value, but nowhere near the added $488 in the price shown on that website. I hope your friend got them at 75% off on some home shopping channel.

[dardonboi]

Thanks. I do appreciate your time to answer my questions. Now I am worried about him. I wonder how many more of these buys he has made in the recent past. I know he used to be really astute about this sort of thing. I won't be listing it for him because it is my reputation that it would fall back on.

We sell a lot of 2$ bills at flea Markets but they all have red marks or are pre 1954. We never have gotten more than $3 for them and thought that was great.

[TexasJack]

FYI

Section 18, U.S.C. § 333 : Mutilation of national bank obligations

Whoever mutilates, cuts, defaces, disfigures, or perforates, or unites or cements together, or does any other thing to any bank bill, draft, note, or other evidence of debt issued by any national banking association, or Federal Reserve bank, or the Federal Reserve System, with intent to render such bank bill, draft, note, or other evidence of debt unfit to be reissued, shall be fined under this title or imprisoned not more than six months, or both.

These notes will not be accepted as United States Legal Tender.

These are souvenier items, nice set.

[bykimbo]

If they're still available at nearly $600 retail, isn't $490 a fair price to list them at, just as the owner requested? And if they're listed and described accurately as the collector item they are, where's the harm to your reputation? Confused of England!

[FBNeNotes]

I have a friend well over 80 and not willing to take on computers. He has been a coin and bill collecter for 50 years. He wants to start selling his collection and has asked me to try to sell this set of 50-- 2003--$2.00 bills. There is one for each of the 50 states. He wants to list for $490. I have no idea about these things and really need help Please, Please PLEASE.

Oouch....
http://utah.bbb.org/article/bbb-call...sleading-23956

[suesjools]

If they're still available at nearly $600 retail, isn't $490 a fair price to list them at, just as the owner requested? And if they're listed and described accurately as the collector item they are, where's the harm to your reputation? Confused of England!

Agree with Kimbo, IMHO there's nothing wrong with listing the bills for what the owner wants for them, most sellers do that with their merchandise anyhow, and in this case the price is even reasonably close to the retail. If he's willing to negotiate price, you could always add make an offer to the listing.

I don't collect coins/banknotes but I think these are lovely; if I could afford it I'd buy them for my Dad, who does collect banknotes, coins, etc.. Got to get a job one of these centuries...

Good luck and best wishes for many sales to all,