That sounds good I'm into it for $1400. A older lady turned it into the bank an the bank teller got in trouble for taking it so she had to buy it from the bank. So she called me to get her money back out of it an she still made money so it's a win win.
Very cool one of those things I've always wanted to pick up and never really run across for the right money
what the hell. why would a teller get in trouble for taking a $1000. it's still legal tender. they reserve the right not to take it or not but it shouldn't be a problem. all the bank would have to do is send it to the closet federal reserve and they would receive the $1000 back. they actually liked that so they can destroy them. i worked at a bank for years and have never heard of such an issue. i had quite a few large denomination come in. even though i collected currency i always told the customer it was worth more if they sold it elsewhere versus just depositing it. most of them thanked me and went on their way. a couple didn't want to be bothered and just deposited them. unfortunately i didn't have the money at the time to get it after my shift.
A teller told me of a 1928 $500 gold certificate that came into his branch one day. The lady came in to get change for it. He wanted to buy it from her, but didn't have $500 on him to do so. He could not simply take it from the drawer and pay it back later, or he would get fired. He asked the lady to come back after his lunch hour. He came back with enough money to buy it, but she never returned. She probably realized it was worth a lot more than face value. The teller described it as AU. Not being a currency collector, I figure it was probably high-VF. Probably a $12 - $15,000 note.
see the opposite would be the case at the branches i worked at. i would not take a note that large for myself if i knew i couldn't exchange it that day. but i use to hold smaller denominations for a few days to a week until i could switch them out. i wouldn't switch it out myself. i would switch it with another teller an then in turn(as a customer in line) exchange it for my own. the large denominations that were taken at my branch were just sent out to the federal reserve and exchanged for newer bills. same place we would send unusable notes, all to be destroyed.
The problem is - the notes are unfamiliar enough to 99% of tellers now so that they are not comfortable taking them in. I know in one branch they did have a vault teller that knew all about currency and she would keep examples of silver certificates, red sealed legal tender notes etc in her teller drawer as training tools. When she got extras of them she would then call me up and sell them for face. I have ended up with a couple of $500 and three $1000 notes that were at first attempted to be deposited in banks. I know most banks and credit unions around me will not take older notes say over the counter - because like I say the tellers are unfamiliar with them and don't want to potentially get into trouble for taking something that their manager might object to. Most older stuff coming into one of my credit unions, and a great source of older notes for me are night deposits from local convenience stores. The teller that takes those in is familiar with older notes, and collects some of them for herself.
I'm just tell the story the teller told me for all I know she could have stole it. Which I hope did not happen. I do know banks some times do not take half dollars. I know of 2 banks like that.
I think you paid a fair price for it... That would be the neighborhood I'd be selling that note in. I think $1,750- $2,000 is unrealistic for that note.
They're probably hoarding them for the BEP, to resell them to collectors later at 100 times face value with some fancy packaging.
That would be my guess. They are separating and stashing them. Even though it seems shady to secretly not destroy them to make money selling them in the future, I hope they are not destroying them. At least that's how the collector side of me thinks.
as far as i have seen it's 100%. between working at the bank for a while and seeing a few documentaries on US currency they definitely destroy them
Unlikely. Considering the hard folds, center split and the rounded corners, I'd say Fine 15 Net/Apparent. Maybe VF20 if you're lucky.
Funkee is right, Fine and if there is a split into the design, an apparent. I don't think the writing will cause an apparent or net in this grade.
It's cool though and a great story. Makes me want to be a teller also. Sent from my iPhone using Tapatalk
Here's the real bitch for me on high denominations - my wife used to work at the sports book at a casino in Vegas in the late 80's (mostly horse racing, she got alot of attention from the clientele - hot blond with assets that don't quit) and she was constantly handling high denomination notes. I mean $500 and $1000 all day long. At face. Now, 25 years later, I'd kill to get a hold of those assets. And the money too...