How to tell if your $20 note is actually worth $4,750

Australians who carry unique $20 banknotes could unknowingly be sitting on a small fortune of thousands of dollars.

Joel Kandiah of Perth has revealed how to cash $20 notes with special markings for $1750 to $4750.

In a video on TikTok, Mr Kandiah said there are two identifying features that Aussies should look out for to see if their bills are valuable to collectors.

“Look for combinations of Fraser/Evans signatures and a serial number starting with PE94,” says Mr. Kandiah, posting under @thehistoryofmoney.

“There won’t be many of them, so have fun hunting.”

Perth’s Joel Kandiah has revealed the two markers that indicate your $20 note could be worth thousands of dollars

Banknotes minted in significant years, such as when new types of banknotes are released, are extremely valuable.

Currency expert and collector Peter Bestenbreur, who runs PJ’s Coin Capers YouTube channel, said notes with a serial code starting with PE94 are very rare.

‘Polymer notes came out in 1994. If you find a PE94, hold it – whatever the condition. They are valuable and they are rare,” he said in a video.

Mr. Bestenbreur told his followers how to spot a bill worth more than its face value, explaining that bills printed in the first or last batch of each release were fetched at a high price.

He said each note has a unique serial number in the bottom right corner, which is crucial for identifying the value of the bid.

The last release of $20 bills came in 2019, with previous notable releases in 2013, 2010, 2005, 2002, and 1994.

Twenty dollar bills printed in 2013 with denominations have serial numbers ranging from ‘AA’ to ‘DA’.

“A ‘DA13’ means it’s the last of the notes (released that year)… so I’ll keep that one and see what the value does,” Mr. Bestenbreur told viewers.

Currency expert and collector Peter Bestenbreur said that valuable banknotes are those printed during the beginning or end of a banknote (stock) era

After going through the bills in front of him, the coin collector found one with the crucial ‘AA’ serial number.

“It’s always cool to collect the sets, so (to have both) released the first and the last,” said Mr. Bestenbreur.

“The condition of this copy – it has been in circulation and has a crease running down the middle – so it could be worth slightly more than face value.”

But the money collector also pointed out that it’s not just as simple as finding the correct serial number.

Condition is also crucial, with any imperfections hurting the note’s value.

While a 2010 note in Mr Bestenbreur’s possession had a ‘DA’ serial number, it was immediately brushed aside by the collector.

This was because a mustache was drawn on Reverend John Flynn, whose face is on the $20 bill.