Banknote Stocks - How Long Do Banks Stock Them?

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Author	Replies: 4 / Views: 1,520
gxseries Pillar of the Community Australia 3831 Posts	Posted 01/12/2019 01:04 am We have seen the changes of 5, 10 and 50 dollar notes and you would think that the old notes would slowly disappear with the introduction of the newer notes. I am starting to see less of the older 5, 10 dollar notes and there is a good mix of the old and new 50 dollar notes. I have received some UNC 2014 50 dollar notes a few months ago. Ok maybe not that old. Today I pulled 20 dollar notes from an ATM machine dated 2008 (!) which makes it a good decade! This makes me wonder - where have they been hiding all the time? My partial coin collection http://www.omnicoin.com/collection/gxseries My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm Regularly updated at least once a month. Report this Post to the Staff

spru Bedrock of the Community United States 12477 Posts	Posted 01/12/2019 04:07 am "In banks" would be my guess. In Memory of Crazyb0 12-26-1951 to 7-27-2020 In Memory of Tootallious 3-31-1964 to 4-15-2020 In Memory of T-BOP 10-12-1949 to 1-19-2024 Report this Post to the Staff
nealeffendi Pillar of the Community Australia 852 Posts	Posted 01/12/2019 12:26 pm I took $80 out of an ATM a fortnight ago (Sydney western suburbs, WBC ATM). CFU with consecutive serial numbers. Dated 08 so in storage for 10 years, perhaps the same storage batch as your 08s. Report this Post to the Staff
Mr T Pillar of the Community Australia 2180 Posts	Posted 01/13/2019 06:02 am Some of the time I guess the Reserve Bank will speculatively order banknotes (I assume they predict how many will be needed and don't always get it right). I guess they sit on the notes until they need them. Report this Post to the Staff
ryurazu Pillar of the Community Australia 1333 Posts	Posted 05/27/2019 9:06 pm all of the western sydney are circulating only 20 notes that are in the 2008 print found some AA and also the last series JC, all in UNC condition. I wonder if they really do store huge amounts of notes in some sort of vault. would love to see :D, I know they store gold and silver bullion like that. I don't think bank branches store more than 100K worth of note or coins in their vaults, much less than that of an large RSL or Sporting Club. The Cass I be guessing would store more than 1M+ on site . Edited by ryurazu 05/27/2019 9:13 pm Report this Post to the Staff
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