Most old foreign banknotes are worth about $1-5 each to a collector, and many are worth less than that, because the notes people bring home from travel and the notes families kept from the 1920s to the 1990s were printed in enormous numbers and saved in enormous numbers. There are three ways a note climbs above that. First, some old currencies can still be exchanged at face value at the issuing central bank, which makes a stack of German marks or Swiss francs worth real money. Second, some notes are collectible in their own right: early issues, large denominations, notes from short-lived states and colonies, specimen notes, replacement notes and striking designs. Third, condition multiplies everything, and a crisp uncirculated note can be worth ten to fifty times the same note folded and soft. The job is to check the issuer, the date, the condition and the serial number before deciding which pile a note belongs in.
Quick answer
- Common circulated foreign notes from the twentieth century are about $1-5 each. Hyperinflation notes from Germany in 1923 and Zimbabwe in 2008 are common and sell for about $2-20 and $20-150 respectively.
- Some retired currencies are still exchangeable at face value, including German marks, Austrian schillings and recent Swiss franc series. Check the central bank before selling to a dealer.
- Crisp, unfolded notes from before 1950, large denominations, colonial issues and specimen notes are where collector value lives.
How to check a foreign banknote, step by step
- Read the issuer. The name of the bank or government is printed on the note, often in the local language and sometimes in English or French. "Banque de France", "Reichsbank", "Banco de Mexico", "Government of India" and so on. Colonial banks, occupation issues and short-lived states, such as the Straits Settlements, French Indochina, Biafra, Katanga or the Japanese occupation of the Philippines, are a flag for collector interest.
- Find the date. Most notes carry a date, a series year or a law date. Pre-1950 notes deserve a second look. Notes from the 1960s onward are usually common unless they are high denominations or from a tiny issuing country.
- Check whether it is still exchangeable. Several central banks exchange retired notes indefinitely or for a long window. The German Bundesbank exchanges all Deutsche Mark notes at a fixed rate with no deadline. The Austrian central bank exchanges schilling notes from the last series without a deadline. The Swiss National Bank exchanges the eighth series, in circulation from the 1990s to 2021, and since 2020 has no deadline for later series. Many others, including French francs, Italian lire, Dutch guilders, Spanish pesetas and British pre-decimal notes, have closed their windows, though the Bank of England exchanges all its own withdrawn notes without a deadline. Look up the issuing bank's site before assuming the note is dead.
- Grade the condition honestly. Hold the note at an angle to the light. Count folds. A note with no folds, sharp corners and original crispness is uncirculated. One vertical center fold makes it about uncirculated or extremely fine. Several folds, soft paper, rounded corners, a tear, a stain or a pinhole move it down fast. Collectors pay for the top grades; a note in fine or very good condition is worth a fraction.
- Read the serial number and prefix. Low numbers, solid or repeating digits, and replacement prefixes, which are often a star, a Z or an X depending on the country, carry a premium. Notes marked "SPECIMEN" or "MUESTRA" with a zero serial and a punch or overprint are specimen notes and are often worth $50-500 even for a common design.
- Look at the signatures and the series. Many notes were printed for decades with the same design and changing signatures. A scarce signature combination can be worth ten times the common one. The Standard Catalog of World Paper Money, which gives each note a "Pick" number, lists these. Online, the Numista database and completed auction listings give a first idea.
- Weigh what you have against the market. Hyperinflation notes are the common trap. German marks from 1923 in denominations of millions and billions are everywhere and sell for a few dollars. Hungarian pengo notes from 1946, Yugoslav dinar notes from 1993 and Zimbabwe dollar notes from 2008 are in the same group, though the Zimbabwe 100 trillion note has become a novelty in its own right and sells for about $100-150 in crisp condition as of late 2026.
What old foreign notes are worth: honest anchors
| Note or group | What it is | Typical value, as of late 2026 |
|---|---|---|
| Circulated European notes, 1950s to 2001 | Francs, lire, pesetas, guilders, drachmas from travel | About $1-5 each; some high denominations in crisp grade more |
| German Deutsche Mark notes, any date | Still exchangeable at the Bundesbank | Face value at 1.956 marks per euro, roughly $0.55 per mark; crisp early series can be worth more to collectors |
| German 1923 inflation notes | Millions and billions of marks | About $2-20 each; crisp high denominations in the billions about $20-80 |
| Zimbabwe 100 trillion dollars, 2008 | Highest denomination note ever issued | About $100-150 crisp; lower denominations in the series about $5-40 |
| Chinese notes, 1930s to 1940s | Central Bank of China and provincial issues | About $1-10 each, printed in vast numbers; a few early or large-size notes more |
| Japanese occupation notes, Second World War | Printed for the Philippines, Malaya, Burma, Dutch East Indies | About $1-5 each; some scarce denominations about $20-100 |
| British white five pound notes, 1920s to 1956 | Large white notes with black print | About $150-500 depending on date and condition |
| Canadian 1935 and 1937 Bank of Canada notes | First federal issues | About $20-100 for low denominations circulated; crisp and high values far more |
| Straits Settlements and Malaya notes, 1900s to 1940s | Colonial issues | About $20-300 for common denominations; early and high values in the thousands |
| Palestine Currency Board notes, 1927 to 1945 | Mandate-era issues | About $200-1,500 for low denominations; higher values well into the thousands |
| Specimen notes of any country | Zero serials, SPECIMEN overprint, often punched | About $50-500 for common designs; rare issues far more |
| Replacement or star notes | Notes with a replacement prefix | About 2 to 10 times the regular note, more for scarce series |
Treat these as ranges for sound examples. The same note in uncirculated condition can be worth ten times the circulated figure, and a note with a tear, writing or a stain can be worth less than a tenth. For the US side of the same drawer, our guides to old dollar bills worth money and star notes apply the same logic.
Condition grades and what they do to price
| Grade | What it looks like | Share of the uncirculated price |
|---|---|---|
| Uncirculated (UNC) | No folds, no handling, sharp corners, full crispness | 100 percent |
| About uncirculated (AU) | One light fold or a corner bend, otherwise crisp | About 50-70 percent |
| Extremely fine (XF) | Two or three light folds, still crisp | About 25-40 percent |
| Very fine (VF) | Several folds, some softness, clean | About 10-20 percent |
| Fine (F) | Many folds, soft paper, minor soiling, corners rounded | About 5-10 percent |
| Very good and below | Limp, stained, torn, holes, tape, missing pieces | About 1-5 percent; common notes are nearly worthless |
Third-party grading by PMG or PCGS Banknote costs about $20-50 per note and makes sense only for notes worth more than about $100. The note inside a holder is the same note.
The common things, with respect
A few groups turn up in nearly every family drawer and nearly always fall at the low end. German inflation marks from 1923. Chinese notes from the 1940s with the portrait of Sun Yat-sen. Japanese occupation notes with "The Japanese Government" in English and a plantation scene. Allied military currency from Italy, France, Germany and Japan. Notes from the last series of a European currency before the euro. Travel leftovers from the 1970s to the 1990s. Each is a real piece of history; the market just has millions of them. A folder of fifty such notes is worth about $30-100 as a lot.
The exception within the common groups is condition and denomination. A crisp uncirculated 1,000 franc note from 1950s France, a crisp 1,000 mark note from 1910, or a crisp occupation note in a scarce denomination can reach $50-300. Flat, unfolded notes stored in an envelope since the day they came home are the ones to check first.
What a photo can show
A straight, well-lit photo of both sides shows the issuer, the date, the denomination, the signatures, the serial prefix, the design type and most of the condition: folds show as lines when the note is lit from the side, corners and edges show wear, stains and tears show plainly. That is enough to identify the note, place it in a catalog and give a realistic range. A photo cannot reliably tell a modern reproduction from an original, cannot see a pressed-out fold or a repaired tear, and cannot read a watermark unless the note is photographed against a window. Those are the checks that matter on a note worth hundreds, and they belong with a paper money dealer. Notes from the Confederacy and other dead issuers have their own market; see our guide to Confederate money value for that group.
How WorthPic reads banknote photos
WorthPic runs on the newest and most capable AI model available, tuned for exactly this kind of identification. With a banknote the first task is reading, and the model reads notes in scripts and languages most people cannot: the issuer, the date and law text, the denomination, the signature titles, the serial prefix and any overprint, stamp or SPECIMEN marking. From the photo it also judges condition, reading folds, corner wear and stains as a dealer would, and whether the paper and printing look like an original or a modern reproduction when that is visible. It gives an honest value range for that note in that condition, flags when a note's currency may still be exchangeable at a central bank, and says plainly when something is not visible and which photo would settle it, usually the note lit from a low angle to show folds, or against a window to show the watermark. It identifies and estimates. It does not grade; for a note that looks early, colonial, specimen or high value, a paper money dealer or the International Bank Note Society is the route that settles it.
Common mistakes
- Assuming a huge denomination means a huge value. A 100 billion mark note from 1923 is worth a few dollars.
- Selling exchangeable currency to a dealer at collector prices. A stack of Deutsche Mark notes is worth face value at the Bundesbank, which is usually more than a dealer will offer.
- Ironing or pressing a note to flatten it. Pressed notes are easy to spot and are worth less than honest folded ones.
- Writing on notes, taping tears or storing them in PVC sleeves, which turn the paper greasy over the years.
- Confusing souvenir and replica notes with originals. Reproductions of British white fivers, Confederate notes and Chinese notes are common and are often marked "COPY" in tiny print.
- Pricing from a single online listing. Asking prices on marketplaces run far above what notes actually sell for; use completed sales.
- Ignoring the serial number. A replacement prefix or a low number can turn a $5 note into a $50 one.
What to photograph
- The front and back of the note, straight on, filling the frame, on a plain dark background.
- The note lit from a low angle so folds and creases show as lines.
- A close shot of the serial number, the prefix and the signatures.
- The note held against a window if there is a watermark or a security thread.
- Any overprint, stamp, punch hole or "SPECIMEN" marking.
- The envelope, folder or letter the notes were kept in, if it gives a date or a story.
When to get it looked at in person
- A paper money dealer who belongs to the International Bank Note Society or the Professional Currency Dealers Association can identify, price and make an offer on a collection in an afternoon. Most will look at a handful of notes at no charge; a written appraisal is about $50-150 an hour.
- The issuing central bank is the route for exchangeable currency. Exchange is usually by mail or in person at the bank's own counters, at face value, with no fee.
- A grading service such as PMG or PCGS Banknote costs about $20-50 per note and is worth it only for notes above about $100, where a grade changes the price.
- A banknote auction house such as Heritage, Stack's Bowers or Spink is the route for colonial issues, early notes and specimen notes, where competitive bidding beats a dealer's offer.
Foreign coins from the same trip follow similar rules; our guide to foreign coins worth anything covers them.