A conveying device 2 in a device for validating valuable papers, comprises a rotor arrangement 5 rotatably mounted in a casing 1, a drive device 12 for rotating rotor arrangement 5, and a roller arrangement 11 disposed around and in contact to an outer circumferential surface of rotor arrangement 5. A bill 10 inserted from an inlet 8 of casing 1 is grasped between rotor arrangement 5 and roller arrangement 11 to wind up the whole length of bill 10 around rotating rotor arrangement 5 so that bill 10 can reliably be transported with rotation of conveying device 2 while preventing slippage of bill 10 on rotor arrangement 5. Also, bill 10 can be rotated together with rotor arrangement 5 one revolution or more to positively prevent unauthorized extraction of bill 10 by means of any extraction tool. When a sensor 3 detects physical property of bill 10 and a control device 4 considers bill 10 to be genuine in view of the detected physical property of bill 10, the device separates bill 10 from rotor arrangements 5 to discharge it through an outlet 9.