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 Replies: 39 / Views: 11,837 |
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Pillar of the Community
United States
1388 Posts |
A question here for you bill collectors.
I know that the last time the US printed bills larger than $100 was in 1945, and they were pulled from circulation in the 1960s.
Has anyone ever heard of one of these being spent or received in a normal transaction anywhere since the 1960s?
I have to think that it has happened at some point.
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Pillar of the Community
United States
1431 Posts |
I seem to remember seeing something on some numismatic forum (might have been here. I don't remember) about an armored car attendant occasionally encountering $500 bills on the job.
I don't know how plausible that might be since I'm not sure exactly how much access an armored car attendant actually has to the money they guard, but I thought it was worth mentioning here.
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Pillar of the Community
United States
623 Posts |
Yes...there was an article several months ago about a family who had pulled $1,000 or $10,000 bills out of a deceased relatives safe deposit box. They just deposited them. You would have to google for it.
Edited by Russ789
11/18/2014 8:43 pm
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Pillar of the Community
United States
7618 Posts |
I see old, worn out, damaged 500$'s occasional exchanged at coin shows. They are usually too bad to be sold as collectibles but still good enough not to get turned in for redemption.
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Bedrock of the Community
 United States
12819 Posts |
I don't know for sure but I have to think most would command a premium due to age/scarcity almost regardless of condition and it would be better to sell/auction than just straight up deposit.
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Pillar of the Community
United States
589 Posts |
My thoughts exactly CelticKnot. It would seem foolish to just take face for them. Same thing for Silver Certs, even though they're barely worth anything more than face circulated. It just seems foolish.
Tell you all what. If anyone finds a "too bad to be sold as collectible" $500 US banknote, I'll give you $510 for it and cover shipping. The offer never expires.
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Pillar of the Community
United States
623 Posts |
Some people have no clue or just don't care. Personal story. Walked into a small branch bank several months ago. Branch manager sees me and comes over to say hello. Of course he knows I am money guy. He says "oh man you missed it...lady was in here earlier with a bunch of 1934 $100 bills. We turned her away b/c we couldn't verify they were legit."
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Pillar of the Community
United States
4409 Posts |
About a decade ago, a friend worked as a bank teller when a $500 bill came through for deposit. She was able to purchase it from the bank for face value. She has retired since then but that was her biggest score.
-MV
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Pillar of the Community
United States
6130 Posts |
It's very rare, but I have heard stories if them popping up at banks fairly recently. A couple customers at my old job attested to seeing some, and I've heard of some from other currency forums. Plenty of people do their research, see "recalled in the 70s" and assume they are illegal to own, or at least no longer legal tender. So, they assume it's best to just palm it off on some unsuspecting bank teller and walk away $500 richer for it.
People do crazy things.
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Pillar of the Community
United States
959 Posts |
Going back several years, a financial advisor told me a couple brought in several $500 and $1000 bills, just to deposit. He spoke up and said he would like to buy them. The bank said OK, but later changed their mind saying they were required to turn them in to the Fed. He was sure this wasn't true, and ended up n the hands of those higher up the ladder. I had to agree.
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Valued Member
United States
467 Posts |
In 2009 I was fortunate to pick a 1934 Dallas $500 note with a SN under *******7000 in F condition at face. Still have it today. Somewhere in this forum I believe I posted a pic of it. :P
Edited by oober
11/27/2014 12:45 am
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Bedrock of the Community
United States
12819 Posts |
@oober:  |
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Pillar of the Community
United States
593 Posts |
I got a $1000 bill when Grandma died back in 1981, but I spent it. I just got divorced and needed the cash. I wished I could have saved it.
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Pillar of the Community
United States
3843 Posts |
My cousin is a bank manager and says that he sees a couple of high denomination bills turned in each year. He gently suggests that they take them to a coin dealer since they are worth more than face but most people insist on exchanging them for new bills.
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Pillar of the Community
United States
2233 Posts |
They were retired in 1969.
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Bedrock of the Community
United States
94367 Posts |
Retired in 1969 but still to be found now and then for a number of years. I saw them exchanged commonly in Vegas in the mid-late '70s.
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Replies: 39 / Views: 11,837 |
Posted 11/18/2014 7:36 pm
