What is the value of a 1889 greeback dollar?


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Nicole Manion answered
The value of a 1889 greenback dollar will depend greatly on the condition of the bill. If it is in pristine condition it could fetch a price of up to several hundred dollars. Bills in less than mint condition will get considerably less on the market today.

  • Coin and bill collecting
The federal government of the United States has been printing bills and minting gold and silver coins since the late 18th century. Coin and bill collecting has become a full time profession for many people and a serious hobby for a number of other people. In the year 1862, paper money was first issued without the backing of either gold or silver.

The practice of backing paper money with a specific ratio of precious metals was reinstated in 1878 after the country had paid off most of its debts related to the Civil War.

Coin and paper money collecting has been going on for centuries and caught on in the United States in the last century. Some coins that are rare due to mistakes that happened in the minting process can sell for thousands of dollars today and rare paper money with the same properties can sell for similar prices.

  • How to check prices
To monitor real time prices on greenbacks and coins on the market today there are a number of books that list prices that were accurate at the time they were printed and there are also sites on the internet that monitor every day trading that will give you a better idea of the current value of any coins and greenbacks that you have.

Use all of the resources available to you before you try and make a deal to sell a greenback or coin. The value is determined by the price any one person is willing to pay so using a service such as eBay is an effective way to sell many rare monetary pieces.

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