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 Replies: 11 / Views: 571 |
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Valued Member
Canada
411 Posts |
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Pillar of the Community
Canada
3935 Posts |
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.
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Bedrock of the Community
United States
53459 Posts |
We must be among a very small number of countries that have never de-monitized any federally-issued coins or currency.
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Moderator
Canada
9449 Posts |
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 OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Valued Member
Canada
387 Posts |
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.
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Pillar of the Community
Canada
2760 Posts |
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.
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Valued Member
Canada
420 Posts |
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.
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Pillar of the Community
Canada
4647 Posts |
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
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Pillar of the Community
Australia
923 Posts |
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.
Edited by ryurazu
12/13/2020 11:39 pm
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Pillar of the Community
United States
845 Posts |
That is a tough bank
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 |
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Pillar of the Community
Canada
2497 Posts |
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" ™
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Valued Member
Canada
204 Posts |
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...
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Replies: 11 / Views: 571 |
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Posted 12/05/2020 12:59 pm
