Is your $20 note actually worth $50? Coin collector reveals that some currency is worth up to double its face value – and it could be sitting in your wallet
- A new $20 was released in Australia last month, increasing the value of old notes
- Some old $20 notes which will soon be removed from circulation are worth $50
- Australians with notes in their wallet will need to careful check the serial number
The $20 note in your wallet could be worth as much as $50, if you know what to look for.
A new variety of red $20 notes were recently added to circulation across Australia in a bid to use new technology to improve fraud security.
But the introduction of a new generation of notes will result in old editions being put out of circulation, making them far more appealing to collectors.
Already old versions of the $20 note are selling for as much as $50 online, meaning thousands of Australians could have a note in their pocket worth more than its face value.
Old $20 notes with ‘AA’ and ‘DA’ serial numbers could be worth more than their face value, with some currently going for as much as $50 on eBay
Despite this 2010 note having a ‘DA’ serial number, the fact it has been defaced means it is not worth more than its face value
Currency expert and collector Peter Bestenbreur told followers of his YouTube page just how to spot a note worth more than its face value.
Each note has a unique serial number on the bottom right corner, which is crucial to its potential value.
The last release of $20 notes came in 2013 with the serial numbers ranging from ‘AA’ to ‘DA’, with these two varieties being the most valuable.
‘A “DA13” means it is the last of the notes (to be released that year)… so I’ll keep that one and see what the value does,’ Mr Bestenbreur told viewers.
After continuing to go through the notes in front of him, the coin collector finds one with the crucial ‘AA’ serial number.
‘It’s always cool to collect the sets, so the first and the last released,’ Mr Bestenbreur said.
‘The condition of this one – it’s been circulated and there’s a bit of a fold going down the middle, so it might be worth a little bit more than face value.’
But the currency collector also pointed out it’s not just as simple as finding the right serial number.
Condition is also crucial, with any imperfections hurting the notes value.
While one note in Mr Bestenbreur’s possession was a ‘DA’ serial number from 2010, it was immediately cast aside by the collector.
The circulation of a new $20 note follows the introduction of $5, $10 and $50 notes in recent years
Earlier this year a record was set for the sale price of an Australia note, with a 1914 $100-pound note selling for more than $500,000 at auction
This was because a moustache had been drawn on Reverend John Flynn, whose face features on the $20 note.
Earlier this year a record was set for the sale price of an Australia note, with one 1914 $100 pound note selling for $410,000 at auction.
After buyer’s premium and GST, the total price paid for the note was $500,200.
The newest edition of the note continues to feature the faces of Reverend Flynn and Mary Reibey, a convict who became a leader of the early Australian colonies.
It was released in early October and follows the introduction of new $5, $10 and $50 notes in recent years.
A new $100 note will be released in 2020.