$200 in Silver Certs

What?! This is certainly incorrect information. There is no "law" that says this... My bank holds back everything for me. All the tellers of the whole bank get me all the old bills I could ever possibly ask for, and these are in fact that type of people to "do it by the book". If I were you, I'd walk back into that bank and ask them to tell you exactly what law prohibits the circulation of old style notes. While I will say that the Federal Reserve has asked all banks to send them all back to the Federal Reserve, there is no official law in place that says it is illegal to distribute small head notes. It even says on the Federal Reseve and BEP websites that all old style cash is legal tender for all debts, public and private. This goes the same for public banks... Especially because the banks are public and not private. Your bank either has wrong information or they are just too lazy to get you your old notes...

 

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Assuming you were told this at a bank within the United States, what they told you was complete gibberish. Wells Fargo, for example, tends to mute all of their old style notes but this is based largely on the attitudes of the management/tellers of individual branches. To my surprise while I was at a Wells Fargo in Oregon this past summer, I was given a $100 1990 H-A note without even specially asking for it. This past week I got a $50 1993 G-A note from the cash dispenser of another bank. Also earlier in the summer I went to visit my grandfather in North Carolina and most of the cash he had to spend was old $20s, $50s and $100s that he got from his local bank. The examples go on and on.

 

Here's the '35E with the misaligned serial.

 

1935E stars
1935D notes with 2 consecutive
1935D stars

 

NOS, this is exactly my view on it, as seen above your post.

-tbud

 

Just read your earlier posting. Hahaha, we've both had similar experiences that say contrary to the lies some banks give. This is off topic but I finally did it. I finally found an old five at the casino. It only took buying (over time) like 1,000 fives but I found me a pretty nice and crisp 1993 G-A note. 1993 fives are a tough series to find out there so it is a nice find indeed.

 

Here is what I have found for old $5's. These are only my circulation/teller finds:
1 1950B: LB.
2 1950D: LC and LC.
1 1974: BE.
4 1988A: LE, BD, GH, and LE.
4 1995: FB, FC, KC, and GF.

As you can see, I haven't found any 1993 $5's in circulation. I currently only have 1 1993 $5 in my collection and it is an AU L*. Nice find. I'm still waiting to find one myself.

-tbud

 

first off i can not believe that you would say the old silver notes are the same as a 1993 note **** i get them all the time infact i get alot of 1990 notes but the say the old silver notes are the same
but anyway this is the letter i got from the bank

[FONT=&quot]Dear Mr. Martin[/FONT]
To answer your question about old currency ($1 Silver Certificate Series) we have never gave them back as cash or sold them
We have been asked by the B.E.P. to return them as of the act of
[FONT=&quot] ([/FONT][FONT=&quot]Section 5119(b)(2) of Title 31, United States Code, was amended by the Riegle Community Development and Regulatory Improvement Act of 1994 (Public Law 103-325) to read as follows: "The Secretary shall not be required to reissue United States currency notes upon redemption." This does not change the legal tender status of United States Notes nor does it require a recall of those notes already in circulation. This provision means that United States Notes are to be cancelled and destroyed but not reissued. This will eventually result in a decrease in the amount of these notes outstanding.

United States Notes are an obsolete form of currency last printed by the Bureau of Engraving and Printing in 1968. The Riegle Community Development and Regulatory Improvement Act, Public Law 103-325, codified at 31 U.S.C. 5119(b)(2), enacted in September 1994, amended 31 U.S.C. by canceling the requirement to reissue these notes when they are redeemed.)[/FONT]
To reissue these notes (bills) would under mind the count of currency in circulation today. This is so the Gov. can keep count of the money they have out.
Now we understand that most of these notes are for numismatic groups. And would not be used
Releasing the notes to the public will violate the spirit of the act, which authorized the federal banks "not be required to reissue United States Notes or any bank note that is out of print upon redemption."
That is why it is that we cannot give out any of these notes or bills. To my understanding no bank can or should and should be turned in if found.
It is true that is not a law but a guide line by B.E.P. that all banks must go by as they work under the rules of the Gov. Lacks the legal statutory authority to sell these notes to the public.
Some facts about currency the life of a one dollar bill is only about 42 Months. Past that most bills can’t not be used. And must be turned in for a replacement.
[FONT=&quot]Thank you[/FONT]
[FONT=&quot]Bank of America
i leve to up to you to think want you want as i see from the from most here are above the laws that most of us live by or can do most any thing but as my collection is not as big and i don't know every thing about it not sure if i even should be here.[/FONT]

 

Your comments about "most of us here living above the laws" are quite outrageous and offensive. Your reply itself seems like you can't handle a conversation with a little bit of different opinions from different people. I'm not sure I quite understand what you mean by your not even sure if you should be here. Would you care to explain? Try calming down and keeping things at a slower pace while we discuss this bank issue. There is no law that says the banks have to send in older currency and if there is, well, half the banks of the US are "above that law". This isn't even the case though. Banks are public places where public transactions are made to and from the public. The banks don't have to save you all old currency if they don't want to, but they don't have to send them in to the BEP either. As long as the Federal Reserve and BEP say those older notes are still legal tender, they are. Being "legal tender for all debts public and private" doesn't limit them to not be able to be handed out at a public bank to public hands.

 

I never said that the old silver notes are the same as a 1993 note. For purposes of discussing the finding of old notes from banks and what not most collectors on here (I'm sure tbudwiser would agree) are referring to old style notes which includes any and all "small face" notes up to the 1993/1995 series design. I believe that Bank of America sent you a letter referring to the redemption of 1966/1966A $100 bills which were held and stockpiled until about 1996 when the inventories were all destroyed. As far as I know the 1994 RCDRI Act which they cite really has nothing to do with silver certificates so they basically sent you a form letter based on information they probably found somewhere on google. I would be willing to bet that the government couldn't care less about specially redeeming USNs now adays and processes them through their high-speed scanners just like any other note they receive and immediately destroys them without blinking an eye just like with what they do with all small face $5+ FRNs.

 

Stimulating conversation aside, I think you're very lucky to score two straps of silver certs. I just got my first strap of ones today and made out with a 2001 640k star note and a tri-nary note. But I think I like your haul a little better.

 

Hmm, last year I bought a Series 1966-A $100 at a small bank in the Sierra Nevada mountains. They were pleased as punch to sell it to me as they didn't know what to do with it. Where I live I am "in" with a lot of the tellers and their leads so that they call me when the goodies come across the counters. From my experience they do not care for the older notes, particularly the younger tellers that have not seen them. It doesn't mean they will not accept them, but they will ask someone more familiar with them to authenticate the notes. They tend to not give them out in withdrawals though because frankly people do not like getting something that is unfamiliar to them. That is where I come in, I want this older stuff and I buy them. I know one teller lead that keeps them for a couple of months to show teller trainees what they look like then when she is done she calls me to come pick up my newbs.

Examples of some stuff I have come across in the past couple of years:

 

@ SM: Awesome haul on all those $50s... I especially like that Series 1934 light green seal at the end.

 

Very nice SM! I have something similar with my local teller, although not to the degree that you do. Congrats on your luck!

 

As I can see from what every one is saying is that banks do sell and give back all the old currency. they must not have any laws about the old money , then why did the Gov. spend so much money making new money and try so hard to make it hard to counterfeit if the banks are still giving out the old money and don’t have to turn it in. why?
[FONT=&quot]For purposes of discussing the finding of old notes from banks and what not most collectors on here (I'm sure tbudwiser would agree) are referring to old style notes which includes any and all "small face" notes up to the 1993/1995 series design.
Read more: http://www.cointalk.com/t195171-2/#ixzz1eXsdGT5O[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]There is no "law" that says this... My bank holds back everything for me. All the tellers of the whole bank get me all the old bills I could ever possibly ask for, and these are in fact that type of people to "do it by the book".
Read more: http://www.cointalk.com/t195171-2/#ixzz1eXvLIpOO[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]there is no official law in place that says it is illegal to distribute small head notes. It even says on the Federal Reseve and BEP websites that all old style cash is legal tender for all debts, public and private. This goes the same for public banks... Especially because the banks are public and not private.
Read more: http://www.cointalk.com/t195171-2/#ixzz1eXvlBeD5[/FONT]

But then maybe everyone no most everyone here knows the laws and rules of banking better than the Gov. and the laws about money better also as in my last post the law the bank gave me came from the BEP web site and it was said that the rule or law or act was not for the old silver notes .[FONT=&quot] [/FONT]
[FONT=&quot]As far as I know the 1994 RCDRI Act which they cite really has nothing to do with silver certificates so they basically sent you a form letter based on information they probably found somewhere on google.[/FONT][FONT=&quot]
Read more: http://www.cointalk.com/t195171-2/#ixzz1eXsvVe8p[/FONT]

With no laws to how banks should be run or how they should work with the federal Gov it no wonder they had to have a bail out. But then I am not the one telling everyone what the laws are or the rules are for the banks never said I did know and still don’t know
After seeing all this it now makes me think why waste so much of the tax dollars to make new money if the banks just give out the old money.
One more thing I would like to say a bank that gave out 200 dollars of the silver notes must not know anything about money even at best if each note was worth 2 bucks they just gave away 200 dollars I don’t know about you all but to me that is a lot of money to just give away. And to most of you its just a drop in the bucket
The reason I feel like this is the wrong place for me. As I have tried to show my son why we have all ways changed the money and make it harder to copy is to make it safer for everyone to use and I have told him that is why the old money is hard to find as the new money comes out banks turn in the old money so that it is harder for others to past copies of it. Now I don’t know all the laws for how banks work and what they have to do to help the federal Gov in this. From this post it is clear that the banks are working agenist the federal Gov and must not care . But I can see that this is the one place you can find all the answers about money laws and what it all means. Here every one knows everything there is to know.
[FONT=&quot]My collection is not that big but I do deal with people like G&F galleries, coin vault.com and others. I do it for the joy of it and not to just make a fast buck as I see that is what my son is getting out of this site.[/FONT]

 

Your paragraphs of long and extensive gibberrish isn't even worth my time, because I already told you my personal thoughts and experiences on it. Fine, I'M ABOVE THE LAW. As are all the banks I've ever walked into and all the other members on here. I have about $600 worth of old currency my teller is currently holding for me and I'm waiting on pay day to go pick up. Call the Feds. If you want, I'll even provide you with the phone # for the Sacramento PD. Have me arrested for making a legal tender public transaction with legal tender United States currency. Walk into a different bank and see if they act the same way about it as this ither bank, I bet you that they won't. I bet you that they'll be more than happy to get you all they old style US currency that you can afford. Do you want the address of the bank thats holding it for me too? I'd be happy to provide you with all the details of my outlawed transactions. I forgot, I have one thing to add. I hope the Feds do come bang my door down and go shut my bank down just so I can get a good idea on how badly this country has gone to you know what....

 

Someone is misinformed about the law and caught up in a few seeming ambiguities. BTW banks are encouraged to turn in $500 on up notes as they come in - but I know for a fact that tellers in the know tell the depositors to take them to a coin shop because they will get more money for them. If the person insists on the bank taking it, then the bank calls you know who - and the whole branch gets lunch on you know who.

 

Mr. Martin,
[FONT=&quot] [/FONT]
All U.S. currency, regardless of when issued, is still legal tender for your use. The U.S. Treasury has never recalled or devalued any outstanding U.S. currency. Your note remains spendable at face value.


Although silver certificates are no longer issued by the Treasury Department, those certificates, like your own, which remain outstanding are still legal tender and spendable just like a Federal Reserve Note. The certificate is worth its face value of $1 to the Treasury Department and, again, can only be redeemed at face value.


Although banks are asked to make sure that old notes like silver certificates find their way to a licenseed dealer/ collators or redeemed for newer legal tender notes. As this type of currency does not have any of the enhanced security features to make it safe for everyday use.


Any bank found not following the guide lines would have their license reviewed. As all of the outstanding currency is almost haft of all currency printed today. If used would devalue the new currency of today. And there would be more counterfeited currency.


So can old currency be used YES
Should old currency be used NO
We thank you for your interest and hope that you will help us keep your currency safe.


For currency in circulation, please see the U.S. Currency and Coin Outstanding and in Circulation report of the U.S. Financial Management Service at http://www.fms.treas.gov/bulletin/index.html
Thank you,
BEP
Moneyfactory.gov

 

I actually picked up 46 more silver cert's today. I was very surprised to find more. Different bank. A couple of stars that I'll keep.

 

I'm done with this conversation because it's making me angry. Fine, play cop. I got another 1990 $10 BE today. I'm done here though. This is not even worth me trying to explain it more because you'll just go ask another official. I could care less about these regulations and crap. It's all garbage to me and the letters your pasting on here mean ZERO to me. I'm probably going to go grab another old note tomorrow. Probably the next day too. The Feds say a lot of stuff that doesn't come through. They claim that the use of pot is illegal yet half the state of California right now is consuming large amounts of it. And guess what. The state has no problem hauling in millions a year on taxes for it. The state of California must be "above the law" as well. Thats just one example out of a million.
-tbud