1923 $10 Legal Tender Note – The Poker Chip

History:  The Series of 1923 $10 legal tender note is one of the rarest and most valuable large size notes printed during the 20^th century.  We don’t know how many notes were printed for most types of bills, but we do for 1923 $10s.  Exactly 696,000 were printed.  Believe it or not, the first note and the last note printed for this type of bill are both known to exist, along with about 500 others in between.  500 is a large number to exist, but the 1923 $10 bill is still very popular.  It is special because it is a one year, one signature, unique type design.  That means that anyone collecting ten dollar bills, 1923 bills, legal tenders, or large size type designs has to have this bill.

Nickname:  This note is also popular because it falls under a group of money known as nickname notes.  The nickname of a 1923 $10 legal tender is a poker chip.  The nickname comes from the fact that the back of each bill looks like it has two poker chips on it.

Other Facts:  1923 marked the last series year that large size notes were issued.  Based on the fact that Harley V Speelman and Frank White signed these notes, we know that they could have been printed as late as 1927.  Andrew Jackson is featured on the front of the bill.  As with all legal tender notes, the seal and serial numbers have a red overprint.  The ten dollar bill marks the highest denomination printed for the 1923 series year.  As you might be able to tell from the images on this page, all serial numbers begin with the letter A and end with B (with the exception of star notes).

Values and Grading:  The big question everyone wants to know is how much is my 1923 $10 bill worth.  The short answer is that it depends on the grade (aka condition) and to a certain extent the serial number.  If the serial number is lower than 1000, or has a star symbol in the serial number then there will be a premium.  Star notes are exceedingly rare and usually worth more than $50,000.  Low serial numbers, especially if under 100, also carry a premium of a few hundred dollar or more.

Most 1923 $10 bills you encounter will not have a star and will have a serial number over 1,000.  These regular issue notes are valued purely based on their condition.  Our guide below shows pictures and prices for each grade.

Choice Uncirculated or Better:  There are runs of high grade 1923 $10 bills known to exist.  Dozens have been certified by the grading services as uncirculated.  In fact with one phone call you could buy one in choice uncirculated condition for about $10,000.  That would be for something graded as a 64.  As the grades get higher (up to 70), you will have to pay more money.  The note pictured below is graded as a 66.  You can see that it has perfect centering.  Centering is the big difference between a 63 and a 70.

Extremely Fine to About Uncirculated:  It is very difficult to show was an XF and AU note looks like based on scanned images, so I have simply skipped them.  However, an XF note will usually have two or three light folds.  AU notes will have one fold or handling marks.  Problem free 1923 $10 bills in XF to AU condition will sell for about $4,500 to $8,500.

Very Fine:  Most poker chip notes that the proverbial person off the street is going to encounter are going to be in the very fine and lower grade range.  There is a huge eye appeal difference between a 1923 $10 bill that has been graded as very fine 35 and another that has been graded as very fine 20.  I have included pictures of a 35 and a 20.  The folds on the 35 are almost unnoticeable; however, they are there.  They are easiest to see around the red seal.  Looking at the note as a whole you can see at least three vertical folds and one horizontal fold.  That is the text book description of a VF note.

The 1923 $10 bill in very fine 20 seen below has seen better days.  It obviously circulated back in the day.  The red colors are slightly faded and the paper has started to take on some discoloration from dirt and use.  The note has been folded many times and it will not be as crisp as other bills from higher grades.

Fine and Lower:  1923 $10 bills are available in low grades like fine and lower.  A poker chip in fine condition will almost always have a seal color that is getting closer to pink than red.  There will be too many folds to count and the paper will be weak and dark from months or years in circulation.  And that is just for notes in fine condition.  Bills with similar characteristics that also have tears, stains, rust, holes, missing pieces, etc will grade as very good 10 or worse.  I don’t recommend buying such notes even though they are the cheapest.

Need an Appraisal or Offer?  If you are looking to sell or just get the value of your 1923 $10 legal tender note, then send us a picture of what you have.  We are aggressive buyers and all of our information is free.  We need scans or digital photos of the front and back of your note and we can go from there.  Sales@AntiqueMoney.com