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All Forums Category: Canadian Coins and Currency Forums Forum: Canadian Bank Notes and Paper Money - Including Grading, Varieties, and Errors

Hard To Believe: Ontario Man Surprised After Bank Refuses To Accept His $1,000 Bills

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Author	Replies: 11 / Views: 600
doctorman1941 Valued Member Canada 411 Posts	Posted 12/05/2020 12:26 pm * Moved by Staff to a more appropriate forum. * https://toronto.ctvnews.ca/ontario-...j19GGcv0m0Vg Report this Post to the Staff

oriole Pillar of the Community Canada 3947 Posts	Posted 12/05/2020 12:53 pm The bank was being difficult. They should have taken them and sent them to the Bank of Canada, as a service, which will always redeem them. The guy found another bank that would take them. Report this Post to the Staff
Coinfrog Bedrock of the Community United States 53656 Posts	Posted 12/05/2020 12:59 pm We must be among a very small number of countries that have never de-monitized any federally-issued coins or currency. Report this Post to the Staff
SPP-Ottawa Moderator Canada 9460 Posts	Posted 12/05/2020 2:14 pm He should have taken them to Metro Coin & Banknote... Jared will alway buy a $1000 banknote. "Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert Oppenheimer Content of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_US My eBay store Report this Post to the Staff
Paisa Valued Member Canada 387 Posts	Posted 12/06/2020 9:51 pm Quote: He should have taken them to Metro Coin & Banknote... Jared will alway buy a $1000 banknote. Don't be too sure. I have tried selling $1000 bills to dealers including the one mentioned and I was very nicely told not interested. Granted it was before the pandemic but it was after the BOC had announced that they will no longer be legal tender. I actually had one of the less printed ones from landscape series - it was in EF/AU condition and still there was very little interest. Report this Post to the Staff
MoneyPenney Pillar of the Community Canada 2761 Posts	Posted 12/08/2020 10:00 pm Quote: Don't be too sure. I have tried selling $1000 bills to dealers including the one mentioned and I was very nicely told not interested. Granted it was before the pandemic but it was after the BOC had announced that they will no longer be legal tender. I actually had one of the less printed ones from landscape series - it was in EF/AU condition and still there was very little interest. Dealers will only buy $1000 bills in high grade uncirculated condition. Anything less than perfect condition is not wanted because there is no demand for them. So why would dealers pay $1000 for something that will just sit on the shelf for a long time. Any dealer dealer would do better by putting $1000 in a GIC. Report this Post to the Staff
Coinsplus Valued Member Canada 420 Posts	Posted 12/13/2020 4:44 pm I know a few collectors that will sell them more to people of the underground economy!. Have 10 of the pinks is easier than having a bundle of 100s. Report this Post to the Staff
john100 Pillar of the Community Canada 4653 Posts	Posted 12/13/2020 6:34 pm The criminal or underground economy does not generally want a 1000 bill that"s hard to use, just look at US where the raids net 100 bills by the skid loads. I remember when the 1000 was legal tender, big box stores often refused them for payment Report this Post to the Staff
ryurazu Pillar of the Community Australia 924 Posts	Posted 12/13/2020 11:37 pm that to me is silly if the government has print that it is legal tender then is should be legal tender, if the bank refuse then they should be liable for refusing. I would tell the bank you should pay your taxes in these notes hahahaha,or the fines wink wink, no need for any underground economy. Swap list: http://goccf.com/t/334449 Edited by ryurazu 12/13/2020 11:39 pm Report this Post to the Staff
That coin dude Pillar of the Community United States 935 Posts	Posted 12/14/2020 02:52 am That is a tough bank Keep track of your collection: https://en.ucoin.net/?ref=Ux0E0if My collection: https://en.ucoin.net/uid112788 A friendly coin dude that is here for you! A coin collector from the Midwest USA. I specialize in minting varieties and coin identification. I am online 3+ times every day for 6-12 hours. My best US coin find: http://goccf.com/t/387871 Report this Post to the Staff
Wade Pillar of the Community Canada 2501 Posts	Posted 12/28/2020 8:44 pm did the customer have an account there? I've been at the same bank for 35 years, and I can still get rolls/boxes of cents from them (along with 50c and nickel $1s) because of my long term relationship (they make money off of me) and because it's a PITA for them to deal with these coins (and $1000 notes). this isn't news... it's just one guy complaining about a single experience Coin Collecting... "I'm in it for the money" ™ Report this Post to the Staff
cdngmt Valued Member Canada 204 Posts	Posted 12/29/2020 12:04 am I remeber being quite surprised by the Bank of Canada informing me that no vendor is obliged to accept any form of legal tender and that included banks. The point was on at least one discussion board a few years ago... Report this Post to the Staff
	Replies: 11 / Views: 600

All Forums Category: Canadian Coins and Currency Forums Forum: Canadian Bank Notes and Paper Money - Including Grading, Varieties, and Errors

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