How to tell if your $20 note is actually worth $4,750

Australians carrying around unique $20 bank notes could be unknowingly sitting on a small fortune worth thousands of dollars.

Joel Kandiah, from Perth, has revealed how some $20 notes with special markings can be cashed in for $1750 to $4750. 

In a video on TikTok, Mr Kandiah said there are two identifying features Aussies should keep an eye on to see if their bills are valuable to collectors. 

‘Look for a Fraser/Evans signature combinations and a serial number starting with PE94,’ Mr Kandiah, who posts under @thehistoryofmoney, says.

‘There are not a lot of these that come around, so happy hunting.’ 

Joel Kandiah, from Perth, has revealed the two markings that indicate your $20 note could be worth thousands of dollars

Bank notes minted in significant years, such as when new types of notes are released, are extremely valuable.  

Currency expert and collector Peter Bestenbreur, who runs YouTube channel PJ’s Coin Capers, said notes with a serial code beginning with PE94 are very rare.

‘Polymer notes came out in 1994. If you find a PE94, hold it – no matter what the condition is. They are valuable, and they are rare,’ he said in a video. 

Mr Bestenbreur told his followers how to spot a note worth more than its face value, explaining bills printed in the first or last batch of each release fetch for a high price. 

He said each note has a unique serial number on the bottom right corner, which is crucial to identifying the value of the tender. 

The last release of $20 notes came in 2019, with previous notable releases in 2013, 2010, 2005, 2002, and 1994. 

Twenty dollar notes printed in 2013 of value have serial numbers ranging from ‘AA’ to ‘DA’. 

‘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.  

Currency expert and collector Peter Bestenbreur said valuable notes are those printed during the beginning or end of a bank note’s era (stock)

After continuing to go through the notes in front of him, the coin collector found one with the crucial ‘AA’ serial number. 

‘It’s always cool to collect the sets, so (to have both) 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 note’s value.

While one 2010 note in Mr Bestenbreur’s possession had a ‘DA’ serial number, it was immediately cast aside by the collector.

This was because a moustache had been drawn on Reverend John Flynn, whose face features on the $20 note.