Currency passes through our hands almost every day, and we barely give a glance to the dollar bills that we see. As long as they are in working order, few people stop and think if the bill they are holding could have any more value than what is printed on the paper.

Sometimes this cavalier way of looking at everyday items can play a very negative role in our finances. What many of us fail to consider is that, sometimes, the coins and bills that we touch have a little special something that makes them more valuable than expected, and if we just looked a little closer, we could see the difference between a normal bill and a special prize.

One of these special banknotes will never be found in pockets or wallets. The reason why it is so special is that there are only three left in the world, and, along with its special print, its scarcity makes it a valuable addition to any numismatic collection. In fact, it is woth upwards of $2 million.

What is this special dollar bill and why is it worth so much

While technically not a bill as we are accustomed to nowadays, it is called a gold certificate, and it was issued by the US Government as currency from 1863 to 1933. They were first authorized under the Legal Tender Act of 1863 and were used fairly consistently until they were outlawed for general use in 1933 and restricted to the Federal Reserve. This is why there are not many left in the world, especially of the earlier printings.

Some of the most valuable ones are the series of the $100 gold certificates that were issued in 1863. Just by virtue of being the first ones they are worth upwards of $2 million, helped by the fact that, as we have stated there are only three left in existence. Two are in the Smithsonian Museum and the third is held by a person who paid $2,115,000.

Its main feature on the obverse is a black ink print on gold-tinted paper with the phrase “It is here by certified that One hundred dollars have been deposited with the [BANK].” On the left side, there is also the figure of an eagle holding the American flag. On the reverse, it reads “One hundred dollars.” This is because this was a representation of money a person had, which was backed by actual gold in a bank, rather than an abstract account of wealth like nowadays.

How to know if a coin or banknote has great value?

Rare bills and coins are much more common that one may think, but they are still rarely found in circulation, as banks and the government regularly look at the currency in circulation to ensure its quality, good state and value. Having said that, if you come across a piece in an old chest of drawers or attic, it is worth knowing what you are looking for just in case the item does have some value. A $2million payday may be a bit much to ask for, but a couple of thousand dollars for a rare coin or bill are not unheard of.

First look at the item and try to find similar ones from the same mint and stamped year, that should give you an idea of whether it is valuable or not and if there are any identifying features you should be on the look out for. After ascertaining a certain value, check with a collector’s portal to see if the price matches what you believe. Also look at auction houses for prior sales of comparable coins or bills.

And lastly, especially if you plan on selling or insuring the item, take it to a reputable appraiser to find out the real value of the item based on age, provenance and condition.

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