not exactly CRH but Cashed check & got $3200 in 1950 & 69 $100 bills

[inspectorgadget]

So a buddy of mine cashed a check for $3200 at a bank in an upscale "rich" part of the city. They gave him 32 $100 bills all from 1969 & 1950, about 10 or so are in very good shape & I got 5 of those good ones off him (2 50's & 3 69's).

I know it isn't change roll hunting, heck it wasn't even hunting at all it was just a stroke of luck. These bills were stapled to something as they all have tiny staple holes very close to the edge on one end. They smell like mildew or more like old worn out books & we assume they were stapled to a board inside a wall or something, who knows how many more the bank had.

I didn't find out about the bills for several days after he got them (& he was spending them too) or I would have told him not to spend them & I would have headed right to that bank looking to buy any change that might have got turned in with those bills! Heck I would have even bought all the 1950 $100's they had too! When he spent some of the $100's one of the cashiers even asked him if he was sure he wanted to spend those bills.

I have a question... Aren't banks supposed to pull these bills out of circulation when they get them in their hands or no?

Anyway just wanted to share an interesting story with you CHR's!

 

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[Citiboy289]

There is a similar discussion on another thread on the TNET - The conclusion is that with the tuff times this stuff that was stashed away is sneaking out to circulation , I have been given a few old 20"S , 50"s and a ten within the last few months 32 hundred makes me thing it has sat in the vault some and just got out again with your request

 

[Numismaniac]

I have a question... Aren't banks supposed to pull these bills out of circulation when they get them in their hands or no?

Anyway just wanted to share an interesting story with you CHR's!

My understanding from talking to my teller buds us they pull them when they are in bad shape and send them in. Not based on age, but condition.

Nice score!

 

[ArkieBassMan]

I like those old bills, but they certainly tie up a lot of money in a hurry!

 

[Generic_Lad]

Nope, only condition matters, although I do believe the Fed actively culls older bills.

 

[inspectorgadget]

My understanding from talking to my teller buds us they pull them when they are in bad shape and send them in. Not based on age, but condition.

Nice score!

Seems crazy since we are now how many designs now past that old $100 bill design? & they just keep changing the design. Seems like if you were a counterfeiter then why not just print up old bills with no strips or real major security features. I would think if the paper is right then they would be easily passable. I would think the government would want those old bills out of circulation for that reason alone.

I like those old bills, but they certainly tie up a lot of money in a hurry!

Yes they sure do tie up some cash! But $10K in the bank or $10K in old $100 bills in my very best hiding spot makes no difference to me. Wait I actually prefer them (or anything) in my hiding spot over the bank!

Nope, only condition matters, although I do believe the Fed actively culls older bills.

Ah OK I see. Interesting. I guess the cost of making new bills vs. the no cost of keeping older good condition bills in circulation is whats going on here.

 

[boristhespider88]

The only ones I've heard get pulled (with the exception of damaged/destroyed bills) are $500s and $1000s from 1934.

I've gotten a 1934B $20 bill from a teller at a bank that saves old bills for customers.

- DS

 

[inspectorgadget]

Why aren't people bill bundle searching then as these older bills in good shape are worth more than face, now not like the difference of silver coins vs. face value but none the less its easier to find, easier to search, easier to carry, easier to dump as you just buy your next batch with it. My research says these $100 bills are worth or can be sold for between 15% & 30% over face value. I would think without doubt they will only go up in value with time like all old money does. Older star notes do very well & bring more than 30% over face more like 50% or more over face.

 

[thurmownator]

There is a Paper Currencies Forum (Paper Currencies) where this might be seen by more of those interested.

 

[50cent]

PLOT TWIST: they are counterfeit!