silver certies

[CHAINCHOMP]

i was just wondering how many bill do u usually have to look thru b4 finding one thanks & hh.
(PS i post a lot on here (well not alot but some), and no one ever replies, so if u would share ur knowledge that would b greatly appreciated, thanks)

 

[DrDetector]

Last year I searched about 330,000 $1 notes and only found 2. I got another 10 in a group from the nice girls at my bank who told me someone had deposited old money

 

[Pudsbrat]

I have some 1957 silver certificates that I would like to sell...they are in decent condition.....if anyone is interested, let me know and I will reply back as soon as possible.....

 

[CHAINCHOMP]

dang, u searched alotta bills! wish i could search that many! at least now i know that they r still out there! were they the bank bundled straps, or were they the fed bundles?? thanks, keep it up and happy hunting!

 

[DrDetector]

dang, u searched alotta bills! wish i could search that many! at least now i know that they r still out there! were they the bank bundled straps, or were they the fed bundles?? thanks, keep it up and happy hunting!

You will not find a silver certificate in a fed bundle. They are not reissued. Nor are United States notes. I searched almost exclusively bundles of $1s from a large local coffee/beverage/vending machine company. They would get thousands in $1s every day and would deposit at my bank.

 

[srcdco]

I don't know where you got the information that silver certificates and United States Notes (red seals) are not reissued by the Feds. They don't care what kind of bill it is as long as it's in good enough condition to circulate. I've seen red seal $2 bills in bundles from the money center. They were mixed in with the FRNs in the bundle.

A few years ago, I attended a seminar put on by the Secret Service about counterfeiting. One of the first things that they did was to go over what to look for in genuine U. S. paper money. At the end of that presentation, they showed a silver certificate and a United States Note, mentioning that these will occasionally be encountered as well and that they are still legal tender.

Scott

 

[DrDetector]

I don't know where you got the information that silver certificates and United States Notes (red seals) are not reissued by the Feds. They don't care what kind of bill it is as long as it's in good enough condition to circulate. I've seen red seal $2 bills in bundles from the money center. They were mixed in with the FRNs in the bundle.

A few years ago, I attended a seminar put on by the Secret Service about counterfeiting. One of the first things that they did was to go over what to look for in genuine U. S. paper money. At the end of that presentation, they showed a silver certificate and a United States Note, mentioning that these will occasionally be encountered as well and that they are still legal tender.

Scott

Yeah.....no. You're mixing up whether or not currency is reissued by a private bank or by the Federal Reserve. The Federal Reserve has what is called 'Fitness Standards' which they apply to notes which are deposited by banks via courier services. Current fitness standards do not include any old-style notes. No SCs, no U.S. notes, and no old-style 'small-face' $5s through $100s are reissued by the Federal Reserve. Also no higher denomination notes will be reissued if they are redeemed (over $100 notes).

Here is a PDF from the Federal Reserve. It only mentions $5s, $10s and $20s however it also includes $50s, $100s, and older design $1s and $2s.

http://www.frbservices.org/files/operations/pdf/FRB_Fitness_guidelines.pdf


Now a private bank or courier service does not have to follow these guidelines. They can choose to reissue any type of note as long as it is genuine. So whatever money center you are referring to did not obtain those $2s directly from the Federal Reserve.

 

[srcdco]

That is an interesting document, but it does not mention ones or twos, so to assume that it includes those denominations is possibly in error. I do know that the bank that I deal with (and got the twos from) does deal directly with the FR, but they also have their own money center which is most likely where the twos came from.
As far as anything over $100, banks are supposed to return them for destruction, but it's not mandatory (although my bank said it was, it turns out that's just bank policy). Once they are returned, they are destroyed. That's been the case since 1969.

Scott

 

[CHAINCHOMP]

i understand the ones (since they r lying about paying $1$ in silver, since they do not practice that anymore), but i wonder why they pull the 2's cuz the 5's 10's 20's 50's &100's dont have the watermark so that too makes sense, but two dollar bills havwe never had the water mark, so to me it sound like the fed. R. like to burn thing just cuz its fun! PS sorry, i didnt mean to start an argument from this topic...also, i dont think im going to take sides in this argument, cuz then it would just fuel the fire.

 

[DrDetector]

i understand the ones (since they r lying about paying $1$ in silver, since they do not practice that anymore), but i wonder why they pull the 2's cuz the 5's 10's 20's 50's &100's dont have the watermark so that too makes sense, but two dollar bills havwe never had the water mark, so to me it sound like the fed. R. like to burn thing just cuz its fun! PS sorry, i didnt mean to start an argument from this topic...also, i dont think im going to take sides in this argument, cuz then it would just fuel the fire.

No fire. Maybe I came across sarcastic, sorry if I did. The selection of 'fit' currency by the Federal Reserve Banks is entirely automated. It is done by very high-tech machines, lasers, etc. that distinguish qualities of circulated notes that get returned.
I'm not basing my statement on assumption either (regarding $1s & $2s).

Srcdco, you are spot on regarding the notes above $100.

Best odds of getting silver certs at face is to specifically ask for older money when at a bank.