Introduction
For casual observers, a 1963 $5 bill might seem like just another piece of old currency. But for experienced collectors and enthusiasts, these notes represent a fascinating chapter in American numismatic history. Featuring the iconic portrait of Abraham Lincoln and the stately Lincoln Memorial, the 1963 series $5 bills were released at a pivotal time in U.S. history and feature several notable varieties that can be quite valuable in top condition.
In this comprehensive guide, we‘ll take a deep dive into the world of 1963 $5 bills, exploring their history, key features, varieties, and valuation. Whether you‘re a seasoned collector or just starting to explore the hobby, this article will provide you with the knowledge and tools you need to identify, grade, and value these classic notes like a pro.
Historical Context
To fully appreciate the significance of the 1963 $5 bill, it‘s important to understand the historical context in which it was released. The early 1960s were a time of great change and upheaval in the United States. The Civil Rights Movement was gaining momentum, tensions with the Soviet Union were at an all-time high, and the nation was still reeling from the assassination of President John F. Kennedy in November 1963.
Against this backdrop, the Bureau of Engraving and Printing (BEP) was working to update and modernize U.S. currency. The 1963 series $5 bill was part of this effort, introducing several notable changes and improvements over previous designs.
One of the most significant changes was the transition from blue seals to green seals on Federal Reserve Notes. Prior to 1963, $5 bills featured a blue Treasury seal and serial numbers, but the new series marked the beginning of the now-ubiquitous green seals. However, a small number of 1963 $5 bills were also printed with the older-style red seals, making them particularly rare and desirable to collectors.
Varieties and Key Features
For collectors, there are several key varieties and features to be aware of when it comes to 1963 $5 bills. Here‘s a breakdown of the main types:
1963 $5 Red Seal Legal Tender Note
The most prized variety of the 1963 $5 bill, red seal notes feature a distinctive red Treasury seal and serial numbers. These notes were printed in relatively small quantities before the BEP fully transitioned to green seals, making them quite rare. According to U.S. Treasury records, just over 132 million red seal 1963 $5 notes were printed, compared to over 640 million green seal notes.
1963 $5 Green Seal Federal Reserve Note
The most common variety of the 1963 $5 bill, these notes feature green Treasury seals and serial numbers. They were printed in large quantities and are still relatively easy to find in circulated condition. However, uncirculated examples can still be valuable, especially in high grades.
1963 $5 Blue Seal Silver Certificate
A small number of 1963 $5 silver certificates were also printed with blue seals, although these are extremely rare. In fact, according to numismatic experts, only a handful of genuine examples are known to exist, making them the "holy grail" for many collectors of this series.
1963 $5 Star Notes
Star notes are replacement bills that were printed to replace defective currency during the production process. They can be identified by the star symbol at the end of the serial number. Star notes are generally scarcer than regular issues, and high-grade examples can command significant premiums. This is especially true for red seal star notes, which are among the most valuable varieties of the 1963 $5 bill.
In addition to these main varieties, collectors also pay close attention to other key features such as serial numbers, plate positions, and printing errors. Low serial numbers (00000001-00000100), solid serial numbers (e.g. 11111111), radar (e.g. 01133110), and other "fancy" serial number combinations can significantly enhance the value of a note, even in circulated condition.
Grading and Valuation
As with all collectible currency, the value of a 1963 $5 bill is heavily dependent on its grade, or condition. Notes are graded on a 70-point scale, with higher numbers indicating better preservation. Here‘s a breakdown of the main grading tiers and their typical characteristics:
- Poor (P-1) – Heavily worn, with significant damage, tears, or missing pieces.
- Fair (FR-2) – Heavily worn, but still mostly intact and identifiable.
- About Good (AG-3) – Heavily worn, with some small tears or holes, but design still visible.
- Good (G-4) – Heavily worn, but without significant tears or damage. Design is clear.
- Very Good (VG-8) – Moderately worn, with some creases or folds, but overall still attractive.
- Fine (F-12) – Lightly worn, with some creases or folds, but design and features clear.
- Very Fine (VF-20) – Minimally worn, with light creases or folds, and strong eye appeal.
- Extremely Fine (EF-40) – Crisp and clean, with only the slightest signs of handling. No creases or folds.
- About Uncirculated (AU-50) – Virtually no signs of wear, but may have slight handling marks or counting smudges.
- Uncirculated (UNC-60) – No signs of wear or handling, with perfect centering and margins. May have minor printing imperfections.
- Gem Uncirculated (UNC-65+) – Absolutely perfect in every way, with no visible flaws even under magnification.
In terms of valuation, here‘s a table of estimated values for some of the key varieties and grades of 1963 $5 bills, based on recent auction results and dealer listings:
| Variety | Condition | Value Range |
|---|---|---|
| Red Seal | VG-8 | $20-$30 |
| Red Seal | F-12 | $30-$50 |
| Red Seal | VF-20 | $50-$75 |
| Red Seal | EF-40 | $75-$125 |
| Red Seal | AU-50 | $125-$200 |
| Red Seal | UNC-60 | $200-$350 |
| Red Seal | UNC-65 | $350-$500+ |
| Green Seal | VG-8 | Face value ($5) |
| Green Seal | F-12 | Face value ($5) |
| Green Seal | VF-20 | $10-$15 |
| Green Seal | EF-40 | $15-$25 |
| Green Seal | AU-50 | $25-$40 |
| Green Seal | UNC-60 | $40-$75 |
| Green Seal | UNC-65 | $75-$150+ |
| Red Seal Star | VG-8 | $50-$75 |
| Red Seal Star | F-12 | $75-$100 |
| Red Seal Star | VF-20 | $100-$150 |
| Red Seal Star | EF-40 | $150-$250 |
| Red Seal Star | AU-50 | $250-$400 |
| Red Seal Star | UNC-60 | $400-$700 |
| Red Seal Star | UNC-65 | $700-$1,000+ |
Of course, these values are just estimates and can vary widely based on specific factors such as serial number, eye appeal, and market conditions. But they provide a general baseline for what collectors can expect to pay (or receive) for different types of 1963 $5 bills.
It‘s also important to note that certain star note blocks and serial number ranges are particularly rare and desirable. For example, red seal star notes from the Boston and New York districts (indicated by the "A" and "B" letter codes in the serial number) are among the scarcest and most valuable. Similarly, star notes with serial numbers under 640 (the transition point from red seals to green seals) are also highly prized by collectors.
Collecting Tips and Best Practices
If you‘re interested in collecting 1963 $5 bills, here are some tips and best practices to keep in mind:
-
Focus on quality over quantity. It‘s better to have a few high-grade examples than a large number of low-grade notes. Look for notes with original crispness, bright colors, and no signs of wear, handling, or discoloration.
-
Prioritize rarer varieties. Red seal notes and star notes are generally the most valuable and desirable, so they should be a priority for serious collectors. Green seal notes can still be collectible in high grades, but they will typically be more affordable and easier to find.
-
Pay attention to serial numbers. Low serial numbers (00000001-00000100), solid serial numbers, radar numbers, and other "fancy" combinations can significantly enhance the value of a note, even in circulated condition.
-
Store notes properly. To maintain the condition and value of your collection, it‘s important to store your notes properly. Use acid-free currency sleeves or holders, and keep them out of direct sunlight, humidity, and extreme temperatures. Consider using a safe deposit box or fireproof safe for your most valuable pieces.
-
Consider professional grading. For your rarest and most valuable notes, it may be worth getting them professionally graded by a service like PCGS Currency or PMG. This can help ensure their authenticity and condition, as well as enhancing their marketability and value.
-
Be patient and do your research. Building a high-quality collection of 1963 $5 bills takes time and knowledge. Don‘t feel pressured to buy notes that aren‘t the right fit for your collection or budget, and take the time to learn as much as you can about the series before making major purchases.
Market Trends and Outlook
Like all collectibles, the market for 1963 $5 bills can be influenced by a variety of factors, from economic conditions to collector demand. In recent years, the market for high-grade examples has been strong, with many notes selling for record prices at auction.
For example, in 2018, a 1963 $5 red seal star note from the New York district with serial number 00000015* sold for $10,500 at a Heritage Auctions sale. Similarly, a 1963 $5 red seal note with serial number 00000002 sold for $7,200 in 2019.
While these are certainly exceptional examples, they demonstrate the enduring appeal and value of high-grade 1963 $5 bills. As more collectors enter the market and awareness of the series grows, it‘s likely that demand and prices for top-quality notes will continue to rise.
At the same time, it‘s important for collectors to be aware of potential risks and pitfalls in the market. Counterfeit notes, altered serial numbers, and misrepresented grades are all issues that can crop up, especially when buying online or from unfamiliar sources. That‘s why it‘s so important to deal with reputable dealers and auction houses, and to educate yourself as much as possible about the series.
Conclusion
The 1963 $5 bill may not be the flashiest or most famous American currency note, but it holds a special place in the hearts of collectors and enthusiasts. With its classic design, historical significance, and wide range of varieties and grades, it offers something for everyone from beginners to seasoned pros.
Whether you‘re drawn to the scarcity and value of red seal star notes, the thrill of the hunt for fancy serial numbers, or simply the satisfaction of building a high-quality set, collecting 1963 $5 bills can be a rewarding and enriching hobby. By following the tips and best practices outlined in this guide, and staying up-to-date on the latest market trends and research, you‘ll be well on your way to assembling a collection that will be the envy of your fellow numismatists.
So the next time you come across a 1963 $5 bill in your change or at a flea market, take a closer look. You never know when you might stumble upon a hidden gem that could be the centerpiece of your collection for years to come.
