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Anyone Know Federal Reserve Policy On Low Serial Numbers?

 
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Author Previous TopicReplies: 11 / Views: 443Next Topic  
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 Posted 03/02/2021  01:33 am Show Profile   Bookmark this topic Add DoubleEagle20 to your friends list Get a Link to this Message
I have seen bits here and there that they pull the first two packs if they contain serial numbers 00000001 to 00000200. True?

I recently purchased Series 2009 $5 JL00000052B and it has me wondering on it.
Edited by DoubleEagle20
03/02/2021 01:38 am
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United States
3112 Posts
 Posted 03/02/2021  03:38 am  Show Profile   Bookmark this reply Add SteveInTampa to your friends list Get a Link to this Reply
I have not heard that before. I collect serial #12 quite successfully.
Bedrock of the Community
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 Posted 03/02/2021  04:32 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
I have not heard of that before either. Can you post links to that info so I can read up on it?
John1
( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
Pillar of the Community
United States
1532 Posts
 Posted 03/02/2021  04:55 am  Show Profile   Bookmark this reply Add DoubleEagle20 to your friends list Get a Link to this Reply
Here's a Coin World article mentioning the first two packs are generally not issued for circulation.

https://www.coinworld.com/news/prec...ncy-ser.html

Here another mention.

https://oldcurrencyvalues.com/low_serial_numbers/
Edited by DoubleEagle20
03/02/2021 05:05 am
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 Posted 03/02/2021  08:45 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Hadn't heard of that either. Thanks for the links, @DoubleEagle20.
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 Posted 03/02/2021  12:26 pm  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
Yes,thanks for the links. What does the BEP do with all those notes they keep from each run?
John1
( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
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United States
3112 Posts
 Posted 03/03/2021  12:44 am  Show Profile   Bookmark this reply Add SteveInTampa to your friends list Get a Link to this Reply

Quote:
What does the BEP do with all those notes they keep from each run?

I'm pretty sure the BEP has no problem destroying the notes and substituting them with replacement note packs.
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 Posted 03/03/2021  04:21 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
But wouldn't that just create low SN star notes? And wouldn't the BEP keep those as well?
John1
( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
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 Posted 03/03/2021  04:45 am  Show Profile   Bookmark this reply Add SteveInTampa to your friends list Get a Link to this Reply
My understanding after reading the articles is that the BEP occasionally releases low serial numbered packs, both regular and replacement, but normally they do not. There are some low serial star notes around...

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 Posted 03/03/2021  1:17 pm  Show Profile   Bookmark this reply Add DoubleEagle20 to your friends list Get a Link to this Reply
I asked Mr Baeder from the Coin World article. He told me that the first pack of 100 from the A suffix is never released after the 2001 series. The other first pack suffixes are intermittent. Some occasionally escape, despite the best efforts of the BEP and Federal Reserve.
Edited by DoubleEagle20
03/03/2021 2:44 pm
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 Posted 03/03/2021  5:57 pm  Show Profile   Check walk2dwater's eBay Listings Bookmark this reply Add walk2dwater to your friends list Get a Link to this Reply

Quote:
He told me that the first pack of 100 from the A suffix is never released after the 2001 series. .. Some occasionally escape, despite the best efforts of the BEP and Federal Reserve.

-This was common practice at the BOC (Bank of Canada). Typically most of the low # notes (under 10) were given to ambassadors, visiting government dignitaries & (of course) royalty. This occurred for many years of the early BOC 1954-1969 series I believe. Don't have a link to this but have heard it many times (so low # go for a stiff premium). Many are displayed at the BOC Money Museum. https://www.bankofcanadamuseum.ca/
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 Posted 03/19/2021  12:57 am  Show Profile   Bookmark this reply Add DoubleEagle20 to your friends list Get a Link to this Reply
Nice fiver, Steve!
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