There was a question in the “What’s It Worth” section about a twenty dollar bill design that was a 1990’s era design and it got me to thinking. I know the fed destroys and replaces old notes to remove them from circulation. How does this transpire? Does the local bank remove obsolete notes from their daily transactions and send them to the fed to be replaced?
That's a good question . Maybe it's that they don't want us to know anything about . The Gov't, you know . Here's a good website that explains most of what takes place. The Destruction of Money: Who Does It, Why, When, and How? - The Atlantic
I have a friend that worked security at a FR branch. They knew he liked and collected coins and currency and called him down to the shredding room. As he went in they ran a large size $1,000 bill through the shredder. He said he about cried. It took 6 months to process the paperwork to remove it from the system. He knew it was going through the process and told them that it should be put in their museum display, but no one wanted to put in the extra effort and time. He said that they laughed watching him getting upset and emotional over a worn out piece of paper.
At the end of the movie DEAD PRESIDENTS they attempt to rob an armored car that was full of money on the way to be destroyed
The movie Hot Money (2001) is based on the true story of a real-life case (The Loughton incinerator thefts) involving Three women who stole thousands of pounds of banknotes that were due to be destroyed at the Bank of England's incinerating plant in Essex. There was an attempt to make a US version of the movie in 2008 called Mad Money (it got a Rotten Tomatoes award).
I can see it now; a chart showing the money being produced, used, sent for destruction, turned into mulch, used to grow marijuana, which in turn gets more money. The cycle of life. LOL
