Changes are coming

[hokiemojo]

I'm sure many of you have heard this, but I figure I'll pass this along. Apparently, the $100 bill will be changing soon. As someone that never really handled $100 bills until I got into this hobby, I thought I'd let you know what to expect in a few months when you are dumping.

On a side note, I wonder if keeping a crisp $100 bill would be worth saving. Part of me thinks that's a lot of money to have tied up. Part of me thinks the high value might make them less likely to appear in the future in perfect condition. Anyway, here is a link to pictures of the new bill:

Meet the New $100 Bill, the World?s Most Popular Bank Note - Yahoo! Finance

 

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[ArkieBassMan]

Have a look on eBay. See what some examples of older $100s are going for - focusing on selling prices, not asking prices. I'm certainly no expert on old notes, but its been my experience that unless the note has a strange/unique/weird/repeating/etc serial number, they just do not sell for enough above face value to "invest" in them. I think you'll find that there likely are better (or at least more profitable) ways to invest your $100.

I would even go so far as to predict that your $100 (so long as its just a common, non-rare, non-desirable serial number note) will lose value over time. Just as an example, lets say that in 40 years it will sell for $125. I'm very willing to bet that 40 years into the future, that $125 will not have the buying power that $100 does today. Therefore, even though you "made" $25, your investment would have lost money. That same $100 in an account earning a measley 1% (compounded daily) per year would be worth ~$150.

Another example: In about 1966 my grandfather bought the house and 2.5 acres I now live on for $6000. He owned a small family farm (80 acres) that he rented out. In 1966 that rent was an even $1000...which the renter paid that year with a $1000 bill. My grandfather used that $1000 for his yearly house payment. So in 1966, that note was "worth" 1/6 of my property's value. In today's dollars, thats probably ~$12,000-$15,000. Had he merely just kept the $1000 note, it likely would be worth ~$1500 in today's dollars. Big difference.

Just some things to consider. Admittedly, all my example really shows is that in 1966 and in my neck of the woods, you would have been better off buying property instead of hoarding cash. Someone else, likely on this very forum, could give you an example of their property's value crashing during the past several years and they would have been better off hoarding cash instead of buying property. Still, strictly looking at profitability, I believe there would have to be better ways of investing $100 than by preserving a crisp new $100 note.

 

[hokiemojo]

Those are some great points. I think what you just did is convince me not to kepp it for 5 years, before realizing my error, and miss the opportunity to hunt dozens and dozens of boxes of nickels. (-: Thanks for the insight.

I still think it will be fun to see people discovering these new bills soon. I can't wait to check em out.

 

[AdDicted2Ag]

New Design... Same Worthless Paper...

 

[mercury1]

Well, at least they aren't going to do something really stupid like put the man who is in charge of redistributing the wealth on the bill.

 

[Iamrussell]

New Design... Same Worthless Paper...

So true

 

[Iamrussell]

Well, at least they aren't going to do something really stupid like put the man who is in charge of redistributing the wealth on the bill.

Don't jinx it-

 

[mercury1]

Don't jinx it-

Lol. Ya don't want to jinx it.

 

[Infowarrior]

Im surprised it isnt going to be obama bucks that says "Haulin Ass and gettin paid!"(anyone get that reference?)

Or is that going to be saved for 500/1k/10k bills?

I know he wanted to be on the trillion dollar coin.

 

[ArkieBassMan]

Those are some great points. I think what you just did is convince me not to kepp it for 5 years, before realizing my error, and miss the opportunity to hunt dozens and dozens of boxes of nickels. (-: Thanks for the insight.

I still think it will be fun to see people discovering these new bills soon. I can't wait to check em out.

Don't let me talk you out of something you want to keep. IMO you do not have to turn a profit on anything and everything you decide to do, keep, or collect. If you think it'd be fun to keep one for awhile and see what happens, go for it! Don't let me or anyone else talk you out of it. While I personally do not see it being a profitable endeavor, I could be wrong. Its happened before. I should have sold my entire baseball card collection back in about 1990. Back then I thought values could only go up over time, and I was wrong...dead wrong.

And as I was saying above, not everything has to be "for profit." About 11 years ago I bought a new White's DFX metal detector. Over the years I added accessories such as bigger/smaller coils, better headphones, a probe, etc. If you sold every find I have made over those 11 years, they might bring enough to pay for the gas I've burned while metal detecting. But, I absolutely love to detect and its money well spent to me. So well spent, in fact, I'm very seriously considering buying a new Minelab e-Trac very very soon...knowing full well that in all likelihood it will likely never even begin to pay for itself. That is until that old mason jar full of gold coins finally shows up under my coil...

Don't ever let anyone tell you how to spend your own money. There is absolutely nothing wrong with seeking advice and/or opinions, but if its worth it to you, then its worth it...regardless of what anyone else thinks, or what it costs (so long as you can TRULY afford it). To me, that is what life is all about - balancing an enjoyable life now with saving for later. While I certainly don't want my "golden years" being a constant decision on whether to buy much needed medicine or food, I also believe that you have got to live at least a little in the present, as there is no guarantee of tomorrow.

And I have no idea how a "should I keep a $100 note" thread got me off onto all of this. I must be bored...or getting all sappy in my old age. So, I think I'll go burn some more gas money and go detecting.

 

[sagittarius98]

I like the design on the new bill, but $100 is a bit too much money to tie up that could go into silver.