You’re digging through an old winter coat or maybe a greeting card from a relative you haven't seen in a decade, and there it is. A twenty. But it looks... off. The portrait of Andrew Jackson is smaller. There’s no color. It feels like play money compared to the high-tech, peach-and-green notes we carry today. Naturally, you wonder: are old 20 dollar bills worth anything more than just the face value?
Most people just spend them. They head to the grocery store, hand it over, and get twenty bucks' worth of milk and eggs.
Stop doing that.
While most "old" bills are just common currency, a surprising number of them are actually worth $50, $100, or even thousands to the right collector. It isn't just about the age. It’s about the quirks. The mistakes. The history.
The big "it depends" of currency collecting
Let's get one thing straight immediately. If you have a standard Series 1990 or 1995 twenty-dollar bill that’s been folded a hundred times and has a coffee stain, it is worth exactly twenty dollars. Banks see these as "fit" or "unfit" currency, but collectors see them as "crap."
To a numismatist—that's the fancy word for a currency nerd—value is driven by the trifecta of condition, rarity, and serial numbers. If your bill is crisp. I mean crisp. Like it just rolled off the press at the Bureau of Engraving and Printing (BEP) and hasn't ever been touched by human grease? Now we’re talking. A crisp Series 1950 $20 bill might fetch $30 or $40 just because of the grade. But the real money is in the "weird stuff."
Those tiny little stars
Look at the serial number. See a little star at the end of it? That’s a replacement note. When the BEP messes up a sheet of money during printing, they can’t just print the same serial numbers again because it would screw up the accounting. So, they swap in a "Star Note."
Star notes are inherently rarer. If you find a Star Note from an older series like 1928 or 1934, you aren’t looking at twenty bucks anymore. You’re looking at a car payment. Even modern star notes from the 2000s can carry a premium if the production run was small. You can actually check "Star Note Lookup" sites to see exactly how many were printed in that specific batch.
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Why 1928 is the magic year for the $20 bill
Before 1928, American money was huge. Literally. They called them "horse blankets" because the physical size of the paper was significantly larger than what we use today.
If you find a large-size $20 bill, you’ve hit a small jackpot. Even in terrible, shredded condition, these usually start at around $50. If it’s a "Gold Certificate"—distinguishable by a bright orange seal and the words "Gold Certificate" printed on it—you’re looking at hundreds, if not thousands. Back then, you could actually trade that paper for $20 worth of physical gold coin.
Then came 1928. The U.S. switched to the small-size notes we recognize today. But the early versions were different.
The color of the seal matters
Most people think all money has a green seal. Nope.
- Green Seal: Federal Reserve Note (The standard).
- Blue Seal: Silver Certificate (You used to be able to trade these for silver).
- Brown Seal: National Currency or Hawaii/North Africa emergency issues.
- Red Seal: United States Notes.
If you have a 1929 $20 bill with a brown seal that says "National Currency" and has the name of a specific local bank on it, you have a piece of local history. Collectors love "Home Town" notes. If your bill was issued by a tiny bank in a small town in Nebraska that went bust during the Depression, it is incredibly rare.
Are old 20 dollar bills worth anything if they have mistakes?
Mistakes happen. Even at the Mint. And in the world of money, a mistake is a pay raise.
Collectors go crazy for "Error Notes." We are talking about things like:
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- Double Denominations: The most famous (and expensive) error. Imagine a bill that has a $20 face on the front but a $10 face on the back. This happens when a sheet is fed into the wrong press for the second printing.
- Inverted Overprints: The serial numbers and the green seal are printed upside down.
- Gutter Folds: The paper was wrinkled when it was printed, leaving a white gap when you pull the wrinkle flat.
- Misalignment: When the cut is so far off that you can see part of another bill at the edge.
If you have a $20 bill where Andrew Jackson’s face is half-covered by a "smear" of ink, don't throw it away. That "inky mess" is worth money.
The "Fancy" Serial Number Rabbit Hole
Sometimes, the bill itself is common, but the number is special. This is the easiest way for a regular person to find "found money" in their wallet.
Look at the eight digits. Is it a "Solid"? (e.g., 88888888). That's worth thousands. Is it a "Ladder"? (e.g., 12345678). Also huge money. Even a "Radar" (e.g., 45677654), which reads the same forwards and backwards, can add $30 to $100 to the value of a modern twenty-dollar bill.
I once saw a guy sell a $20 bill for $200 simply because the serial number was 00000042. Low serial numbers—anything under 100—are highly coveted. People want the "first" ones off the line.
What about the "New" old bills?
You know the ones. The Series 1996 through 2003 with the "Big Head" Jackson but without the modern colors.
Honestly? These are the "awkward teenagers" of the currency world. They aren't old enough to be "classic," but they are old enough that vending machines hate them. Currently, unless they are Star Notes or have a fancy serial number, they are only worth twenty dollars.
But here is the catch.
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Paper money has a "survivorship" problem. Because people spend twenties so frequently, they wear out and get shredded by the Fed. In twenty years, a pristine, uncirculated Series 1996 $20 bill will be much harder to find than it is now. If you have a perfect one, stick it in a book and forget about it.
How to actually sell them without getting ripped off
If you think you have something, do not go to a pawn shop. Just don't. They will give you $22 for a $100 bill.
First, get a protective sleeve. PVC-free plastic. Do not use tape. Do not use paperclips. Do not "iron" the bill to make it look flat (collectors can tell, and it ruins the value).
Check eBay Sold Listings. This is the gold standard for real-world value. Don't look at what people are asking—look at what people actually paid. If you see five "Radar" twenties that sold for $45 each last week, you know what yours is worth.
For high-value items, like anything from the 1800s or a major error, you need a professional grade. Companies like PMG (Paper Money Guaranty) or PCGS will authenticate the bill and give it a numeric grade from 1 to 70. A bill graded "65 Gem Uncirculated" is worth exponentially more than the same bill graded "50 About Uncirculated."
Actionable Next Steps for your old twenties:
- Check the seal color: If it isn't green, it's almost certainly worth more than $20.
- Look for the Star: A small star at the end of the serial number is an instant "keep" for further research.
- Feel the paper: Genuine old bills have a distinct "raised ink" feel. If it's flat and smooth, it might be a counterfeit or a clever reproduction.
- Search the serial number: Check for patterns (repeats, ladders, or low numbers).
- Consult a Heritage Auctions archive: If the bill looks ancient (pre-1920), look at their archives to see what similar "types" have fetched at auction.
- Keep it flat: Every fold reduces the grade. High-grade notes are where the profit lives.
If you have a stack of twenties from 1985, they are likely just twenty dollars each. But if you have one from 1934 with a star, or one from 1950 that looks like it was printed yesterday, you aren't just holding cash. You're holding a collectible.
Treat it like one.