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#1
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Does Money Expire?
I have a small collection of brand new bills.
If one day I decide to use them to buy something, will they ever expire? Im sure I cant bring a bill from the 1800s to Walgreens and use it. For example, I have a bunch of the old twenties, but now there are two newer versions. Eventually, the old 20s will be out of circulation...the clerk (if they are young enough) might not even know what the bill is. |
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#2
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"Mike" wrote in message
om... Im sure I cant bring a bill from the 1800s to Walgreens and use it. If it's currency that was issued by the US government you can take it to a bank and exchange it for modern currency. |
#3
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Im sure I cant bring a bill from the 1800s to Walgreens and use it.
If it's currency that was issued by the US government you can take it to a bank and exchange it for modern currency. Or if that is too inconvenient for you, I will take them off your hands for 25 cents on the dollar. |
#4
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On 16 Sep 2004 15:02:45 EDT, "Steve Grant"
wrote: "Mike" wrote in message . com... Im sure I cant bring a bill from the 1800s to Walgreens and use it. If it's currency that was issued by the US government you can take it to a bank and exchange it for modern currency. No, you can't. You have to send it to me - and I can exchange it for modern currency. Padraic. la cieurgeourea provoer mal trasfu ast meiyoer ke 'l andrext ben trasfu. |
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#6
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#7
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"Sheldon England" wrote in message om... (Mike) wrote in message . com... I have a small collection of brand new bills. If one day I decide to use them to buy something, will they ever expire? Most likely, yes. It depends on the country of issue. Some banknote issuing countries no longer exist! Canada is one of the few nations that has never demonetized earlier money issues. The Bank of Canada is physically trying to remove the $1000 note from circulation by grabbing them from banks but the notes will always* remain legal tender as much as an 1870 Dominion of Canada 25-Cent note is still valid ... though you would be wise not to spend it at face value. One of the challenges in running a foreign exchange business is keeping track of which countries' notes are still valid and which have expired. FWIW. - Sheldon Actually I was part of a discussion on this subject at a coin shop the other day concerning exchanging foreign currency at a bank. There were three of us, and we all shared experiences of hearing of tellers in the bank taking currency which had been demonetized and exchanging it. The worst was some of the pre 1960 French Franc issues, which by the way, were still exchangeable in French banks up until 2002, but at a rate of 100 old for 1 new. But someone had exchanged the old at the rate of 1 for one at a bank here in the USA because the teller did not look up the notes etc. Now my bank is a hard nosed exception, they hold onto them for "collection" basically they are sent to headquarters in Minneapolis and then, and only then do you get your money. I think they are a bit more determined to check the MRI guide in essence. Dave --- Outgoing mail is certified Virus Free. Checked by AVG anti-virus system (http://www.grisoft.com). Version: 6.0.760 / Virus Database: 509 - Release Date: 9/10/04 |
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#9
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"Michael E. Marotta" wrote in message Well, obviously, there is a common sense factor. On rec.collecting.coins there are many stories of retail clerks befuddled by Kennedy Half Dollars and so on. As numismatists, we think that everyone ought to know everything about money, but really, people just know what they experience first hand. To answer your question: All US coins from 1793 forward and all US paper currency from 1861 forward are legal tender. You could spend a Trade Dollar, an Education Note, a $3 gold, or a 2-cent piece. All US money is good. That was one of the factors in the redesigns of our paper. The Treasury had to change it, but do so in such a way that it still "looks" the same. In many other countries, when the money changes, it is because the government has fallen and the old money is now worthless. The US Treasury wanted to avoid that perception. Michael ANA R-162953 Even Rome fell. Yes it took several hundred years of gradual decay and finally the Huns and Vandals walked in and kicked the door in. The almighty greenback will go the way of the French Franc, the German Mark, the Ruble, the Peso, etc. Just a matter of time and lack of confidence. Dave "Will we be forced to spake Canadian eh?" --- Outgoing mail is certified Virus Free. Checked by AVG anti-virus system (http://www.grisoft.com). Version: 6.0.760 / Virus Database: 509 - Release Date: 9/10/04 |
#10
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The almighty
greenback will go the way of the French Franc, the German Mark, the Ruble, the Peso, etc. Just a matter of time Think they'll have dead presidents on the US euro??? 8-) -- Brian Blackwell SPMC 9522 ANA LM2644 My Obsolete Banknotes Page http://home.att.net/~brianblackwell/obsolete.htm |
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