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O.T.~ They don't make these anymore....

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JoeE.

Titanium
Joined
Aug 31, 2006
Location
Kansas
I picked up one of these at an auction today. There were six to choose from. There were also five $500's, but I didn't get one of those....wanted one, though.

Just an average old widow woman who had died. They found all this big money (plus piles of new-old-stock consecutive numbered $100's, $50's, $20's and lots of coinage) in the house and with no heirs, the bank ended up doing the executor of estate thing, I guess.


I asked the bank clerks about the big bills. No longer in circulation. If one was to come across the counter they are instructed by the Federal Reserve to send it to them, where the Fed will do something with it- destroy it or whatever- depending on the condition, they said....
 

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OK, so if that was the instruction given and the bank clerk knew of it, how is it that the one you bought at auction didn't go back to the Fed?

Hmmmm......:scratchchin:
 
I guess I should've been more specific. The feds' instruction is that if a large denomination bill were to come thru in a monetary transaction it will be taken out of circulation- just like other bills that are damaged. The bank was just holding the auction in their facility for security reasons and there were 3 uniformed, armed cops there the whole time.

I bet some of the reason for the big bill confiscation could have something to do with the drug trade or money laundering- make them use twenties and hundreds to increase the difficulty factor. Harder to hide a milllion dollars worth of twentys or hundreds than thousands, I guess.
 
The large bills were printed starting ion 1929 and were printed until 1945. They came in 500, 1000, 5000, 10000. They also printed a 100,000 gold certificate just for a couple of years. Goverment didn't want the ability to easily carry large amount of cash due to bootlegging and drug trades so they mandated pulling them out of circulation in the 60's.
 
Last time I saw 3 $500 bills was the day after Hurricaine Katrina. I was called to a store where an evacuee was trying to use them to buy clothes water and food and the clerk thought they were fake. The poor guy said that was all the cash he had. Store still would not take them, he even offered to sell them to me for $300 each he was so desperate. I could not in good concious do that and told him they were worth well more than $500 and should try to sell them at a coin store in town with a good rep.
Here's the kicker, I then asked him if he had a debit card, which he said he did, I then asked him why he didnt just pay for his stuff with that, he said he didnt think about it. Poor guy was so flustered after loosing everything he had forgotten he could use a debit card.
 
They got rid of the 1000's here in the 90's as well.
These days some places don't even take any cash anymore, gas stations that won't take more than a $50 even if you put a $100 of gas in the car..
might as well be trading toothpicks.
Only a matter of time before drug dealers take visa.
 
A guy I used to work for, he is in the pen for life now, always had $1000 dollar bills in his billfold. We pranked him once, swiped his car. He didn't care about the car it was the 80 grand in the trunk that wound him up.
 
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