at the bank I asked did they have any notes older than 95. They said they had one except they said they would put it in there reeject pile of some sort to be sent off to be shredded! I asked to see it. It wasn't in bad shape at all! I put it in about VF condition. It was from 95. So I told them to hold onto it for me, and probably tomorrow instead of being in the shredder, it will be in my collection. These 95 and older bills are becoming scarce. Pretty soon, there won't be many at all and might be worth something some day. Phoenix
i still spned the 1995's. i keep anything older than 1995 though. why was it going to the shedder if it wasn't in bad shape? when banks send bills to the sheder, they first scan the bill to make sure it is really unsuitable for circulation. if it fails the scan test, it is shredded. it dosn't mean they will shread it just because the bank rejects it. it took me awile to find this out too!
I know. I didn't quite understand it. So still, I might spend it, but atleast it gets a few more months to circulate. I didn;t know about the scan thing. Thanks for the tidbit. What are the reasons for them to reject some money. I know that if it is in ratty condition or if they suspect it is fake, but to me it does'nt make any sense for them to reject it just because it is old. Thanks again for the info. Phoenix
I think it's a matter of security problems. Older bills are much easily counterfeited and the rest of the world are doing their best to get rid of them for fear of not able to tell the difference between genuine and counterfeits.
they only shed the 1995 and older 5,10,20,50,and $100 bills. this is because it dosn't have the secerity features like the new bills have and are easily conterfeited. all the bank does is round up all the old styles, and ratty bills, put them in a bag and send them to the federal reserve. the reserve then scans the bills, shredding the ratty ones and old style's. it has to be rejected by the scanner to get shredded.
