Posted 09/23/2022 07:27 am
Yes, the concept of "uncut notes" would be alien to your typical bank worker. As far as they are concerned, banknote sheets (if they were aware such things ever existed) would all be cut at the BEP, and none ever escape. Someone bringing in an uncut sheet and trying to bank it, would be treated with suspicion as they would assume such a sheet was counterfeit, or stolen from the BEP.
I don't know who told you that or why, but they were mistaken.
Here's something you always need to keep in mind: banks are not a collector's friend. They are not there to supply collectables for you to collect, they are there to supply money to their account-holders. Special made-for-collectors coins and notes are generally never seen inside a bank, and if a bank did see one, they would be obligated to treat it as money, rather than as a collectable. And they would generally not re-issue a collectable coin or note back into circulation: they would send it back to the Mint, or the Federal Reserve, for redemption and destruction. To a bank, a coin or banknote collector is a nuisance, an irrational person who insists that this piece of money is somehow more desirable to own than that piece of money, when every bank worker knows that money is supposed to be fungible, and the only reason to swap one piece of money for another is convenience - or for a criminal who wants to swap their fake/stolen money for laundered money. Banks tend not to hire collectors, because collectors behind the till behave irrationally.
As for the "currency" versus "banknote" terminology: the use of the word "currency" to mean "banknote" is a peculiarly American usage, and seems to only have arisen since the late 1980s. Everywhere else in the English-speaking world, "currency" means money, in whatever form - both coins and banknotes. Older American banknote collecting books use the term "banknote", but that term began to be considered technically incorrect, as not all paper money was issued by a bank. "Paper money" - that last phrase is now rarely used worldwide, also due to being sometimes technically incorrect, as a large number of countries now make banknotes which are no longer made of paper.
Quote:
I was told I could order uncut sheets of money from my bank.
I was told I could order uncut sheets of money from my bank.
I don't know who told you that or why, but they were mistaken.
Here's something you always need to keep in mind: banks are not a collector's friend. They are not there to supply collectables for you to collect, they are there to supply money to their account-holders. Special made-for-collectors coins and notes are generally never seen inside a bank, and if a bank did see one, they would be obligated to treat it as money, rather than as a collectable. And they would generally not re-issue a collectable coin or note back into circulation: they would send it back to the Mint, or the Federal Reserve, for redemption and destruction. To a bank, a coin or banknote collector is a nuisance, an irrational person who insists that this piece of money is somehow more desirable to own than that piece of money, when every bank worker knows that money is supposed to be fungible, and the only reason to swap one piece of money for another is convenience - or for a criminal who wants to swap their fake/stolen money for laundered money. Banks tend not to hire collectors, because collectors behind the till behave irrationally.
As for the "currency" versus "banknote" terminology: the use of the word "currency" to mean "banknote" is a peculiarly American usage, and seems to only have arisen since the late 1980s. Everywhere else in the English-speaking world, "currency" means money, in whatever form - both coins and banknotes. Older American banknote collecting books use the term "banknote", but that term began to be considered technically incorrect, as not all paper money was issued by a bank. "Paper money" - that last phrase is now rarely used worldwide, also due to being sometimes technically incorrect, as a large number of countries now make banknotes which are no longer made of paper.
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
