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 Replies: 15 / Views: 2,507 |
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Pillar of the Community
Canada
617 Posts |
What to do with older bank notes that are well..very well...circulated and are listed as face value?
Take them to the bank?
Trade them here?
just curious.
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Pillar of the Community
Canada
3049 Posts |
Pictures please!!
Personally I hate to see them sent to the bank to be destroyed.... so if they're only worth face I would take 'em off your hands... I usually end up giving these to some of the kids I teach and coach.
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Valued Member
Canada
137 Posts |
Depending on the note they can still be worth more than face value. Always worth checking,also I hate taking an old note or coin to the bank to be destroyed, it's always worth at least fv
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Pillar of the Community
Canada
1747 Posts |
You could frame them and hang as art
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Pillar of the Community
798 Posts |
Why would a note be destroyed by being taken to the bank  Is it because of the Paper.Recover.Programe. P.R.P. Also coins don't get destroyed by taking them to the bank (If they are new ones). Its the old coins with the certain metal contents that the A.R.P. likes, and as a coin collector they are lucky I don't know where they operate! |
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Pillar of the Community
Canada
3049 Posts |
Normic once the BOC issues a new note the older notes of that same denomination will start to get pulled... They start with poor conditioned notes and eventually just pull all the notes of the past series out of circulation.
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Pillar of the Community
798 Posts |
 I didn't know that. That is just wrong, would they do that with one from the 1800`s in EF-AU condition? If so then that is exactly why non collectors are dangerous people. I thought it didn't matter which notes were in circulation. |
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Moderator
 Australia
16861 Posts |
Well, the Bank of Canada didn't exist prior to 1934, but if it was a banknote from one of the dozen or so pre-1934 "redeemable" banks, then yes, a modern bank would accept it, credit your account for the face value, and pass the note on for destruction.
Don't blame the bank for doing this; it's their job. It's only us crazy collectors that think there's some kind of difference between an old note and a current note that makes older notes desirable. As far as they are concerned, old notes have fewer security features than newer ones so they should be replaced and destroyed.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Valued Member
Australia
138 Posts |
At least the old notes are still legal tender. I once thought I was getting a great deal picking up a Swiss 10 Franc banknote for a dollar, I later found out the old series notes had actually been cancelled. Still a nice old banknote for that price.  Edited by oasis
04/24/2015 11:57 pm
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Pillar of the Community
Canada
867 Posts |
Spend! You are just loaning the government money, meanwhile their secret inflation robs you of your purchasing power.
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Pillar of the Community
Canada
2519 Posts |
In Canada you are lucky that banknotes never expire. I have several older Indonesian banknotes that are still worth something in face value (not yet too devalued due to inflation) but have been pulled a couple of years ago. Some you can still turn in at the central bank, but you can't exchange it anywhere else. Some are totally worthless now (any face value, you've lost that).
Normic, this will probably surprise you. I once talked to a senior teller in a big TD branch. He told me that they were trained to pick any older (I'm assuming the non-plated) coins out, stopping them from recirculating. I've also had another teller at another branch tell me that they weren't supposed to give paper bills back out since the Bank of Canada want all the circulating bills to be the polymer ones.
If I pick up any older Canadian banknotes that aren't worth more than face, I take a couple of them to carry in my wallet. Then spend them in the place of a loonie or toonie. Just make sure the person who you're handing the bill to is not old because it's not fun (or funny) if they recognise the bill.
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Pillar of the Community
Canada
972 Posts |
What I do with my old banknotes that are only worth face value, is I put them on ebay and sell them for face value. Usually a new collector grabs them and I seem to never have a problem selling them. I like seeing them going into some new/young collectors hands. |
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Valued Member
Canada
496 Posts |
I like what Sap said ,as for old notes worth face I give them
a home where they think it is cool to have such a old note ,
kids love them and they work well as tips.( I once left a old bill
for a tip, in the restaurant there was a fellow club member with his
family close to the till eating and overheard the waitress talking to a fellow
worker,she thought it was awesome,my friend got a good chuckle)
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Pillar of the Community
 Canada
617 Posts |
Thanks for the feedback on this. I have just started going through my bank notes and came across a number that were in rough shape and not worth keeping so I was just wondering what to do with them, I don't want to see any destroyed either.
I may put them in the trade section once I've gone through them all.
AgCoin I haven't gone though them all yet but I'm sure I could put some together for your kids if you like. Maybe we could swap or something. Just let me know.
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Pillar of the Community
United States
807 Posts |
Man, I would love to be able to get even ratty Dominion or private-bank notes for face. None of them could be much worse than the Philippine National Bank P5 note I have.
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Valued Member
Canada
329 Posts |
i got $200 or so 1954 series $20s at the bank a year or two ago. when I checked and found no devils head and realized the value was face to $2 over face, I just sold them except 1 at face to fellow employees who thought they were cool. at least I know some wont be destroyed.
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Replies: 15 / Views: 2,507 |
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Posted 04/24/2015 8:04 pm
