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Unfit Currency - Straight from the horse's mouth!!
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<p>[QUOTE="gatzdon, post: 303733, member: 8247"]My guess is that the rate of incidence for older notes such as legal tenders, silver certificates, gold certificates, etc... is low enough that it's more cost effective to kick them out with the counterfeits and manually verify their genuineness. That's why I think it would be more cost effective for the FRN and the US Treasurer (for notes that are obligations of the US Government) to use the BEP's website to re-sell these notes, even if they resell them in bulk lots. If they destroy the note, they get nothing for it. If they sell it, the get more than face value and it's more than likely still removed from circulation.</p><p><br /></p><p>I always see the statement that the US Treasurer meets the obligation to keep a minimum value of US Notes (legal tenders) in circulation via red seal $100 bills. This makes me wonder if they do in fact send small size $100 legal tenders back out into circulation.[/QUOTE]</p><p><br /></p>
[QUOTE="gatzdon, post: 303733, member: 8247"]My guess is that the rate of incidence for older notes such as legal tenders, silver certificates, gold certificates, etc... is low enough that it's more cost effective to kick them out with the counterfeits and manually verify their genuineness. That's why I think it would be more cost effective for the FRN and the US Treasurer (for notes that are obligations of the US Government) to use the BEP's website to re-sell these notes, even if they resell them in bulk lots. If they destroy the note, they get nothing for it. If they sell it, the get more than face value and it's more than likely still removed from circulation. I always see the statement that the US Treasurer meets the obligation to keep a minimum value of US Notes (legal tenders) in circulation via red seal $100 bills. This makes me wonder if they do in fact send small size $100 legal tenders back out into circulation.[/QUOTE]
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