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Palm Tree On 100$ Bill

 
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Author Previous TopicReplies: 5 / Views: 551Next Topic  
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 Posted 09/25/2022  9:12 pm Show Profile   Bookmark this topic Add BJ2765 to your friends list Get a Link to this Message
Hi everyone! I just got this 100 bill and I thought it was pretty cool because I haven't seen anything like it before. I did my own research and I can't seem to find someone who has the same bill as me. Is this bill worth anything?
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United States
393 Posts
 Posted 09/25/2022  9:22 pm  Show Profile   Check collector.detector's eBay Listings Bookmark this reply Add collector.detector to your friends list Get a Link to this Reply
Hi,
This is a modern-day chop mark. They are used by banks in Asia, the Middle East, and Africa to prove their authenticity. Heres a little article on them: https://www.coinbooks.org/esylum_v1...20or%20coin.
Edited by collector.detector
09/25/2022 9:23 pm
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United States
471 Posts
 Posted 09/25/2022  9:31 pm  Show Profile   Bookmark this reply Add datadragon to your friends list Get a Link to this Reply
Beat me to it -

Money changers occasionally mark the bills in their possession using a stamp. It allows them to identify the note and ensure that it is authentic when it goes out into circulation. Although the practice is uncommon in the United States, it is common in places such as Asia, Africa or Latin America, where counterfeit American currency is more rampant. The chop mark signifies to people living in the area that the bills are legitimate. Chop marks can appear in different patterns, symbols and colors, depending on the region and exchange house.

Why Chop Marks Are Placed On $100 Bills
Although the United States itself has become a society where electronic transactions now rival the usage of cash, this is not the case in many developing countries, where cash is still considered king. Many of these nations are poor and neither street merchants nor small shops have the resources or connections to setup up credit or debit card payment systems. Even if they did, many of the locals lack bank accounts and would be unable to use them, and since electronic transactions can easily be tracked and traced by the authorities this would make the vendors subject to taxation, which they would balk at.

As you can see, there is no reason for street vendors or small shop owners in places like Bolivia, Sri Lanka or Bangladesh to want to setup a credit or debit card payment system. This is why wealthy tourists visiting developing countries almost always have to use cash if they want to conduct transactions outside of major resorts or cities. Using cash is simple and private, and gives both buyers and sellers anonymity. However, the dark side to using cash is the problem of counterfeiting. Since the U.S. $100 bill is one of the most recognized pieces of currency worldwide, there is a huge incentive for criminals to counterfeit. And although the American government regularly takes steps to combat it, chop marks are seen as an additional layer which protects both merchants in developing countries as well as their customers.

Do Chop Marks Ruin The Collection Value Of Currency?
It depends. Many currency collectors who come across $100 bills with chop marks choose to hold onto them, which might prove fruitful in the future. If they know the origin of the mark, and that particular bill eventually goes out of circulation, it could indeed carry a premium. But the reverse is also true. Many currency collectors will tell you that any stamp or mark placed on the bill which did not come from the American government will actually ruin, rather than enhance its value. Only time will tell.

this was last discussed here http://goccf.com/t/404369
Edited by datadragon
09/25/2022 9:31 pm
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 Posted 09/26/2022  09:09 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply


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 Posted 09/26/2022  2:24 pm  Show Profile   Bookmark this reply Add nick10 to your friends list Get a Link to this Reply
Since chop marks can be faked, and far more easily faked than the note itself, I dont' understand how they assist with anti-counterfeiting.
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