1. Condition: The condition of the bill plays a significant role in determining its value. Well-preserved notes in uncirculated or mint condition can fetch a higher price compared to circulated and worn-out bills.
2. Series and Rarity: There are different series of $5 bills issued in 1929. Some series are rarer than others, which can affect their value. For example, the 1929A $5 Star Note, which bears a star symbol (*) after the serial number, is relatively scarce and commands a premium.
3. Serial Numbers: The serial numbers on a bill can also influence its value. Low serial number notes, particularly those with sequential or desirable numbers like 000001 or 123456, can be more valuable.
4. Signatures and Printing Variations: The signatures of the Treasurer and Secretary of the Treasury on the bill can affect its value. For instance, certain combinations of signatures, such as those of William H. Woodin (Treasurer) and Ogden L. Mills (Secretary), can be more desirable. Additionally, printing errors or variations can contribute to the value of a bill.
5. Overall Market Demand: The demand for rare and vintage currency notes can fluctuate over time. If there is a strong demand for 1929 $5 bills, it can drive their prices up. Factors such as collector preferences and market trends influence the overall demand.
As a result, the value of a 1929 US $5 bill can range from a few hundred dollars for a circulated bill in average condition to several thousand dollars or more for a rare, uncirculated note with desirable features. It's advisable to consult with reputable numismatic experts or seek professional appraisals to accurately determine the value of a specific 1929 $5 bill.