Most old money is no longer in circulation, but it's worth in today's equivalent can be easily estimated. This calculation accounts for the effects of inflation on the purchasing power of old currency.
There are some government and commercial services that provide the face value of old money at today's market value. These services are available on the internet, most of them for free. Find out if your old money has appreciated. These are some ideas on how to calculate the market value of old money today.
Step 1
Identify the type of old money in your possession. Old money comes in a variety of forms including the following: Old American Bills, Old Bank Notes, Old American Currency (Colonial times), Old Canadian Currency, Old money printed in error, Federal Reserve Notes and Bills and paper currencies of other countries.
Step 2
Find out the old money's country, face value (denomination) and the year of print. All this information is located on the currency itself, in front or behind the paper. Look for the condition or grading of the paper; this may be a circulated or not circulated note. Circulated paper shows some wear and tear, the not circulated ones look newer. The physical condition of old money is a key factor in determining its value.
Step 3
Search on the internet for old currency dealers who buy and sell old bills, notes and other paper currencies. Access their database and enter or find the description of your old money to get today's market value or worth. Most of these business services are free, some may require registration.
Step 4
Find government's online services to value your old money. Some countries offer free access to their old money calculators. For old money in Europe, visit the National Archive.gov.uk/currency. Enter the face value of the note and the print year. The database will convert the old money to its new value in euros.
For the United States, visit the Federal Reserve Bank at frbsf.org/currency/bills. This is an educational database, it doesn't provide today value for old money. However, it provides the history, description and pictures of each category of old US currency to help identify it.
Step 5
Visit your bank or financial institution to find the value of old money. Some of these businesses provide services online or over the telephone to calculate the value of old currency. Give them the money description and they may be able to provide the estimated worth today.