Just found a $1000 !

[woof]

I decided to stop shooting a couple of years ago, & last year sold my gun cabinet, & cleared everything out. I also used the cabinet as safe for valuables.
Anyway, just sorting through a box of stuff that came out of it, & there's these dollars that we didn't spend when we went to America back in 2008 !, the exchange rate was good back then & I was a little bit flush so got more dollars than we needed, they're even still sealed up in the Thompsons bag.

So a question for our American friends, have your government changed any of your bank notes since 2008 ?. Not sure what denomination notes I have as I've not opened them up yet.

Rob

 

[nephilim]

Yes the notes have changed, however they are still legal until some point next year where they're expecting to be completely replaced with the new notes.

 

[woof]

Thank you, looks like i'll have to change them, think I'd like to stick to dollars if I can though, so I've got some spends for our next trip

Rob

 

[nephilim]

You should be able to ask your bank to change them for you to current legal tender. IF you have the receipt from when you changed it, it would assist in proving their legitimacy.

*edit*

I know Barclays will do it with money they've changed over the last 2 years or so, not sure on money that is 6 years old.

 

[santaman2000]

Yes the notes have changed, however they are still legal until some point next year where they're expecting to be completely replaced with the new notes.

Partly true; they have changed and more changes are planned.

That said, even after the changes they'll still be legal tender in perpetuity. Just as the old "Silver Certificate" and "Gold Certificate" notes that were discontinued way back in the 1930s are still legal tender.

 

[nephilim]

Ah ok, my Father in law (Lives in Maine), was the one who gave me that info.

 

[woof]

Thanks for the input, the receipt is still in with them, so I can prove its not "launderd" money.

Rob

 

[EdS]

Bank notes are not legal tender they are promissory notes.

 

[santaman2000]

Bank notes are not legal tender they are promissory notes.

The older bills (the "gold certificates" and silver certificates" of the 1930s and before) were indeed promissory notes. Each was a promise to pay the bearer an amount equal to the face value in either silver or gold (whichever was applicable to the individual note) on demand. In the 1930s this was changed to say that there was an amount in silver or old (whichever was appropriate) on deposit in the Treasury. In 1968 we came off the gold standard entirely and all such wording was removed.

However, all US bills, both the older and the newer one, are indeed legal tender and have the following words printed directly on them: "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE."

You can see theses words in the left of the face of the bills as in this older Silver Certificate:

Or as can be seen in the upper left of this more modern $2 bill:

Also US bills aren't "bank notes" as they are neither issued nor backed by any bank; rather they're issued directly by the Department of Treasury rather than any bank.

 

[woof]

Thanks for this santaman, its good to know that my "secret stash" is safe & I can use it on my next visit.

Rob

 

[TeeDee]

Also US bills aren't "bank notes" as they are neither issued nor backed by any bank; rather they're issued directly by the Department of Treasury rather than any bank.

As we are on the topic ( and apologies to Woof if you feel a Hijack. ) where do the Department Of Treasury get the Bills from? I mean I expect that they are prinited there but where is the actual 'new money' created? The Fed?

 

[santaman2000]

As we are on the topic ( and apologies to Woof if you feel a Hijack. ) where do the Department Of Treasury get the Bills from? I mean I expect that they are prinited there but where is the actual 'new money' created? The Fed?

I presume you mean actually expanding the money supply rather than just replacing worn bills? I would believe you're partly right in saying it's the Federal reserve but I really don't think it's quite that simple. Congress would be involved as well. The Constitution vests them (Congress) with both the authority to mint money and with the "power of the purse strings."

 

[santaman2000]

Thanks for this santaman, its good to know that my "secret stash" is safe & I can use it on my next visit.

Rob

It's also possible that any discontinued bills might become collectable and hence worth more than their face value in the future. That's certainly been the case with the old Silver Certificates and Gold Certificates, as well as Confederate money. Unfortunately, there's no real way of predicting that.

 

[woof]

It's also possible that any discontinued bills might become collectable and hence worth more than their face value in the future. That's certainly been the case with the old Silver Certificates and Gold Certificates, as well as Confederate money. Unfortunately, there's no real way of predicting that.

Think i'll just spend it on my next trip !

Rob

 

[santaman2000]

Think i'll just spend it on my next trip !

Rob

LOL. That's certainly the safest thing to do.