About a week ago when i dropped by my local WF branch where I order my blocks of $2 bills, one of the tellers told me a customer had dropped by with five $500 bills and wanted to know what to do with them. The bank didn't take them but they looked up coin dealers on the internet and gave her some names....I assume local ones that I am sure would pay as little as possible for them. The teller said at least one was in real good shape but of course they showed use. I said i wish they would have let me know so I could have talked to the people about getting them graded or directed them to someone who might be more of a currency person to give them a good idea of their value. Or heck, I would have paid her $500 each for them. Don't know what happened to them but I might ask when I go in next week to pick up my $2 bills.
I sold one recently ($500) and they are going for high premiums. My question is.... what are you doing with all of the $2 bills ... is that like roll hunting but for $2 bills?
Michael K, I'm going to take a wild guess that the bank's automatic counter/ counterfeit-detector machine doesn't recognize $500 bills, so the teller wasn't going to risk her job by taking them. Just try to argue federal banking regulations with them . . .
Apparently the person that had them, getting them I think through a deceased family member's estate, didn't want to turn them into the bank but wanted to know what to do with them. I just hope they didn't get shafted on their value. There is at least one dealer in my area that I am sure would try to get them as close to face as possible or maybe even less. As for the $2 bills, I sell the packs on eBay...lol. And I am looking for the 128k star notes I found late last year which I have managed to find a couple other times. But I don't always get new bills. Sometimes they send packs of used bills which I take and go through to see if I can find anything cool or old in good condition. I take the newer bills out of used packs and keep them in circulation as tips, small purchases, etc.
On $500.00 notes. My teller said that their bosses told them not to accept them ever. Most tellers do not know if they are real. I got one about 20 years ago at my local bank. Last year, at another local bank, a guy came in to break it up about 30 min before me. another, a woman went into a local auto dealership to buy a new car. She made the deal, and the guy wanted to know how she wanted to pay for it. She said with cash. She pulls out an envelope, and pulls out the amount in $1000.00 and $500.00s. The salesman would not take it. So, she went across the street and bought her a car at the other dealer. I use half dollars for tips when we eat out, after going through some boxes.
I talked to a local dealer who got a call from a bank customer. She had opened safety deposit box of a deceased relative and discovered seven $1000 bills. Was he interested? You bet! Then she added -- "And they're all real, the bank manager checked each one with an anti-counterfeit pen!"
