Anyone collect paper money??

Discussion in 'The BS Topic' started by mrdragster1970, Feb 8, 2018.

  1. 351maverick

    351maverick Veteran Member

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    I like old money

    in my wallet I carry around a few silver certificates my grandfather gave me on my 16th birthday

    it's interesting that a $500 bill is worth $1000, and a $1000 bill is worth at least $2000 to collectors...they haven't been printed in a LONG time
     
  2. badazz81z28

    badazz81z28 Veteran Member

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    I think the diminish of large bills probably shows the change in our economy where we no longer have super rich and super poor people. Back in the "men who built America" days, you were either living high on the hog, or barley getting by. Nowadays most people are in the middle.
     
  3. 351maverick

    351maverick Veteran Member

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    From the internet:

    The U.S. stopped printing the $1,000 bill and larger denominations by 1946, but these bills continued circulating until the Federal Reserve decided to recall them in 1969.

    President Richard Nixon thought these denominations would make it easier for criminals to launder money, which then led to his order for their elimination.

    Plus, turns out churning out $1,000 bills just wasn’t very cost efficient. To produce them, you’d have to go through the trouble of engraving new plates for very small production runs. Running off a lot of $1 notes is more cost efficient than producing comparatively few $1,000 notes
     
  4. badazz81z28

    badazz81z28 Veteran Member

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    ^^ looks like their are a few theories on why they stopped printing and ultimately destroyed. A bill that was in circulation for decades likely was worn out.
     
  5. Burd

    Burd Veteran Member Lifetime Gold Member

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    We bought Un cut sheets in DC. A buddy gave his bud one at a bachelor party, along with a scissors at a strip club, the girls loved it. He cut them and stuffed them rite there. I framed mine.
    I got a crisp $20 for each one for ya. Lol
     
  6. ol' grouch

    ol' grouch Veteran Member

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    Another consideration is the larger the denomination, the more likely it is to be forged. If you look at current production bills, the $5 and up are fresh designs with more and more security features. The $1 though, hasn't changed much. It's costs more to make one than you can get for it.
     
  7. Da-bigguy

    Da-bigguy Veteran Member Lifetime Gold Member

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    That is one of the main reasons Canada did away with the one and two dollar bills. Now we have the loonie and twoonie coins. I doubt the strippers like getting those tossed at them!
     
  8. Burd

    Burd Veteran Member Lifetime Gold Member

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    How do you stuff a dollar in Canada? It's been a while, but is it a fin now in the panties ?
     
  9. badazz81z28

    badazz81z28 Veteran Member

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    Think about how dumb that logic is though...You spend all this time, money and research to come up with bills with very difficult to counterfeit features, yet the old bills are still legal tender...A smart criminal will take todays advanced printers and produce $100 and $50 bills from the 80s and 90s...

    Only a moron would counterfeit a $500 or $1000 bill....Someone with a lot of those would get scrutinized. Plus who the hell has change in their till to break one....Def not Mcdonalds.
     
  10. ol' grouch

    ol' grouch Veteran Member

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    When I first started working at a restaurant, I took a $20 with George Washington on it. The owner had a Secret Service agent come in to explain the security on the bills in use at the time. There are LOT'S of little details on the older style bills for security. The older bills wear out so fast it's easier to let them work their way out of circulation.

    The Secret Service does protect the President and other important people but they are part of the Department of the Treasury. Their main job is to protect the currency and economy of the United States. There are agents who never do more than investigate forgery. $10 and $20 bills are the most forged as there is less chance of them being caught. $50 are used rarely and draw attention. $5 isn't enough profit.
     

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