I came across a seller today who is selling $1 bills. Not special bills. The description is “random one dollar bill” and the picture is just a wrinkled old bill. Checking the feedback I see that he has sold maybe a hundred in the last several months, getting $1.00 to $1.26 for them. And shipping is free.
So what is the deal here? Is he laundering money? It doesn’t seem very efficient. And why are people buying them? Several people bought more than one. I tried goggling to see if this is some kind of scam but came up with nothing. I can’t figure it out. Anyone know what is going on?
I don’t actually know anything about this, but is sounds like a stupidity test. And if he’s selling them for more than 99 cents, then humanity is failing.
Would it make sense for someone to be doing this to try to get good feedback and a good reputation as a seller before he starts selling other stuff “for real”?
He also sells rings which is how I came across this. He’s been around since 2016 and only has about 25 items listed right now. It looks like his rings sell for $300-$500 and he has good feedback. High priced rings and dollar bills. Very strange.
I don’t understand it either. This guy is selling old $20 bills for $28. They’re used and not top grade.
I still occasionally get the old style bill in change from stores.
Yeah, that doesn’t make sense either but at least that guy is making money.
Maybe time travelers it is.
And in my research on this I’ve also found out that people will pay a lot for a bill with a “special” serial number. Like a birthday or some significant sequence.
Could people be buying them to use up coupons or promo credit that are about to expire? If you’re have a free $10 to spend that is going to expire today, trading it for $7 or 8 in cash might be a better choice than just letting it go.
^ That probably happens in cases where buyers are buying money for less than face value, but the OP is seeing feedback showing buyers buying money for more than face value.
No, if a person has a gift card that expires today, he/she goes on eBay to convert it to cash by paying a premium for the exchange. Have an expiring $100 card? Either lose the entire $100, or buy $80 worth of cash.
Gift cards can expire after five years and also they issuer can charge an inactivity fee after 12 months. This is the federal law. Some states have tougher standards.
For instance, in California, for example, it’s against the law for store gift certificates and gift cards to have an expiration date or dormancy fees (except under certain circumstances), and if the balance on the card is less than $10, you can redeem it for cash.
EBay regularly sends me emails offering $X off my next purchase (where X= 5 or 10, IIRC). I’d come out ahead using my $5 off coupon to buy five of his dollar bills for $1.15 a piece, and he could send all five in one envelope with one stamp.
I’ve also found out that people will pay a lot for a bill with a “special” serial number. Like a birthday or some significant sequence.