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AWB
03-31-2004, 10:41 AM
I know that $500 and larger bills have been removed from circulation (and presumedly destroyed), making it hard for criminals to enact large cash transactions.

IIRC, use of such bills is also illegal.

But: what if I found a large stash of them that my eccentric uncle stuffed in his mattress. How could I go about getting credit for them without the authorities suspecting me in some illegal business?

hajario
03-31-2004, 10:47 AM
What ever you do, don't spend it in the store. Here (http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3905689372&category=40029) is one for sale on eBay. The bidding is at $1136.00 and there are still nine days left for the auction.

Haj

elfbabe
03-31-2004, 10:55 AM
According to The Memory Hole (http://www.thememoryhole.org/econ/big-bills/), possessing bills up through $10,000 is NOT illegal, and the treasury will still honor their face value. The $100,000 gold note is the illegal one, not intended for public use at all.

Tapioca Dextrin
03-31-2004, 10:58 AM
According to the US treasury (http://www.ustreas.gov/education/faq/currency/denominations.html):

While these ($500) notes are legal tender and may still be found in circulation today, the Federal Reserve Banks remove them from circulation and destroy them as they are received.

So you can just take them to a bank and change them for a big wad of real money.

samclem
03-31-2004, 06:31 PM
What ever you do, don't spend it in the store. Here (http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3905689372&category=40029) is one for sale on eBay. The bidding is at $1136.00 and there are still nine days left for the auction.

Haj
The one on ebay is a choice UNCIRCULATED example of a MULE bill.

The average $500 that a person uncovers in a relative's bank box is in used, average condition. We buy about 50-75 of these every year from the public. We pay between $550 and $750 for each one. Depends on the exact condition. You could still take it to the bank and get $500 worth of twenty dollar bills if you prefer. Take such a bill to a coin dealer. You get a premium. We've paid a premium since 1968, when they started withdrawing them from circulation.

Same goes for $1000 notes.

If you have a $5000 or $10000 note, I'll actually FLY to your house at my expense to pay you a slight premium to save you the embarassment of having the clerk at the 7-11 tell you they can't take a bill of that size. :D

Spectre of Pithecanthropus
03-31-2004, 06:51 PM
Wow, just looking at the Ebay currency collector offerings is a trip. It almost makes up for the fact that Dr. Dawn Banks (http://www.drbanks.com/blog/index.php?s=currency) took down her website, which included an extensive online U.S. currency collection. It had more specimens for online viewing than just about all other online currency museum sites put together.

Nuts on you, wherever you are, Dr. Banks!