Some Rare Old Canadian $1 Bills May Now Be Worth $7,000

In Canada, when the old dollar bills were discontinued in 1989, some people held onto them hoping they would be worth a lot of money someday.

Well, the good news is that those people may not have been so misguided. Old dollar bills CAN be worth a lot of money. You just have to hope you have one of the good ones.

Two things affect the price of a bill: rarity and quality. And if you're lucky enough to have a bill that is both rare and high quality, you could be looking at quite the payday.

According to coinsandcanada.com, the rarest $1 bills are the ones in perfect or near-perfect condition. Bills can be categorized: Good, Very Good, Fine, Very Fine, Extremely Fine, About Uncirculated and Uncirculated. The higher quality ones can be worth up to tens or even hundreds of times the value printed on them.

But here's where it gets interesting, there is a rare series of bills from 1954 called "Devil's Face" notes. These bills were taken out of circulation because some people thought that the Queen's hair on them looked sort of like a devil's face.

These bills are very rare, but if you're lucky enough to have one in perfect condition, it may be worth up to $7,000.

So, if you have any old dollar bills lying around, go check them, because you never know...