I met an interesting gentlemen this evening who attempted (to no avail) to explain one of the buisnesses he was in. Essentially he said he acts as a brokerage in the sale of Historic FRNs (Federal Reserve Notes though I could be wrong?) which tend to hold values of 7,8 or even 9 figures! Can someone tell me what on earth he was refering to?
cheers.
There’s a market for old currency and securities documents and some are pretty valuable, but I doubt many have the original face value or current market value of the numbers you heard.
Non-historic Federal Resevse Notes are fairly common I understand. You may have some in your pocket, it’s folding money. That may be what he was actually after.
Anyone happen to have any cites about the theoretical value of truly historic FRNs?
OOPS :smack: I think I might have picked the wrong Acronym…FRN could also stand for Floating Rate Notes, which might be what he was talking about!?! It would make a lot more sense! Also I remember him mentioning certain governments wanting to take the historic ones out of circulation and paying a buncha cash for them?
Personal opinion for a coin dealer here.
Old Federal Reserve notes, 1928-present, in circulated condition, are worth no more than face value.
As to the other, I don’t know.
Get back to the guy and ask what’s he talking about.