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Banknote Stocks - How Long Do Banks Stock Them?

 
 
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Pillar of the Community

Australia
3132 Posts
 Posted 01/12/2019  01:04 am Show Profile   Bookmark this topic Add gxseries to your friends list Get a Link to this Message
We have seen the changes of 5, 10 and 50 dollar notes and you would think that the old notes would slowly disappear with the introduction of the newer notes. I am starting to see less of the older 5, 10 dollar notes and there is a good mix of the old and new 50 dollar notes. I have received some UNC 2014 50 dollar notes a few months ago. Ok maybe not that old.

Today I pulled 20 dollar notes from an ATM machine dated 2008 (!) which makes it a good decade!

This makes me wonder - where have they been hiding all the time?
My partial coin collection http://www.omnicoin.com/collection/gxseries

My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm Regularly updated at least once a month.
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United States
9816 Posts
 Posted 01/12/2019  04:07 am  Show Profile   Check spruett001's eBay Listings Bookmark this reply Add spruett001 to your friends list Get a Link to this Reply
"In banks" would be my guess.
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Australia
693 Posts
 Posted 01/12/2019  12:26 pm  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
I took $80 out of an ATM a fortnight ago (Sydney western suburbs, WBC ATM). CFU with consecutive serial numbers. Dated 08 so in storage for 10 years, perhaps the same storage batch as your 08s.
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Australia
1348 Posts
 Posted 01/13/2019  06:02 am  Show Profile   Bookmark this reply Add Mr T to your friends list Get a Link to this Reply
Some of the time I guess the Reserve Bank will speculatively order banknotes (I assume they predict how many will be needed and don't always get it right). I guess they sit on the notes until they need them.
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Australia
522 Posts
 Posted 05/27/2019  9:06 pm  Show Profile   Check ryurazu's eBay Listings Bookmark this reply Add ryurazu to your friends list Get a Link to this Reply
all of the western sydney are circulating only 20 notes that are in the 2008 print found some AA and also the last series JC, all in UNC condition.

I wonder if they really do store huge amounts of notes in some sort of vault. would love to see :D, I know they store gold and silver bullion like that. I don't think bank branches store more than 100K worth of note or coins in their vaults, much less than that of an large RSL or Sporting Club. The Cass I be guessing would store more than 1M+ on site .
Edited by ryurazu
05/27/2019 9:13 pm
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