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Except for gold certificates, old bills have never been withdrawn so its value is at least $500. However the bill's condition could be more or less of a factor depending on the bill's date and possible series letter.
There's some generic information at the question "What is the value of a US 500 dollar bill?" but an in-person evaluation may be needed in light of the amount of wear.
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What is the value of a 1935 c seies 1 dollar bill in poor condition?
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