Despite its age, as of 05/2010 it's only worth face value to $140 in circulated condition regardless of its series letter. A nice uncirculated one might retail for $175 or more.
1934 is what's called a "series date" rather than the date the bill was actually printed. Depending on what letter is next to the date (blank or A through D) your bill could have been printed as recently as the late 1940s.
In God We Trust
The motto wasn't added to $100 bills until the 1960s so it's perfectly normal that it's not on a 1934-series bill.
Serial Numbers
A bill's serial number is a counter and a security feature. In most cases it doesn't affect a bill's value or help to identify it. Some collectors specialize in bills with low serial numbers (e.g. 00000005) or unusual patterns (12344321) so these can bring above-average prices.
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