Help! I need advice abiut US dollars

[Bob Riebe]

http://frwebgate.access.gpo.gov/cgi-bin/usc.cgi?ACTION=RETRIEVE&FILE=$$xa$$busc31.wais&sta rt=2257814&SIZE=2498&TYPE=TEXT
United States coins and currency (including Federal reserve notes
and circulating notes of Federal reserve banks and national banks) are
legal tender for all debts, public charges, taxes, and dues. Foreign
gold or silver coins are not legal tender for debts.

Not only is all US Currency legal under the Coinage Act of 1965 but (and I forget where it is in the Act) that Demonitization is also illegal under the Act.
Even in my short time in the US, I've seen Lincoln Wheat cents which stopped production in 1958.

I bet that if you tried to use a 3c coin or even a gold $20 coin, people would look at you funny. As it was I had difficulty getting a shop to accept a $2 bill when I wanted to pay for a candy bar once.

All old U.S. currency is legal tender, no matter how old, althiough far though some jis worth far more in collector value.

[Alexamateo]

All old U.S. currency is legal tender, no matter how old, althiough far though some jis worth far more in collector value.

When my sister was in college, she was working checkout at a K-Mart when she looked in her drawer and saw someone had paid with a silver certificate. She promptly swapped it out for a regular bill out of her purse of the same denomination. This was around 1991 or so.

[Rollo]

When my sister was in college, she was working checkout at a K-Mart when she looked in her drawer and saw someone had paid with a silver certificate. She promptly swapped it out for a regular bill out of her purse of the same denomination. This was around 1991 or so.

Did they go out before or after Kennedy was shot?

I have some Confederate banknotes; they may or may not be genuine though. The original printing was of so poor quality as to make a counterfeit totally indistinguishable from the real thing.

[Mark in Oshawa]

And what were our $1 and $2 dollar bills are now coins.

I have an old 2 somewhere in my dresser....They were a silly colour of orange really...

The one we had was a pretty good looking bill....

I like our banknotes, the art work is really quite sharp....and because about every 10 years it changes, I suspect Canadian coins and notes are big with the collectors....

[gadjo_dilo]

Thanks guys for information. Looks like the only posibility to spend them is to go to USA - which will never happen.

[Mark]

Interesting. For the most part new notes are brought in to counter forgeries and withdrawing the old notes from circulation is a necessary step to make sure only the newer - more secure, notes are used.

So I wonder how that problem is tackled in the USA if all notes are valid forever?
(Of course they are in the UK too, it's just that the older the note the more difficult it is to trade it in)

[Alexamateo]

Did they go out before or after Kennedy was shot?

I have some Confederate banknotes; they may or may not be genuine though. The original printing was of so poor quality as to make a counterfeit totally indistinguishable from the real thing.

They stopped redeeming them for silver in 1964, the same time they stopped using silver in coins here. It's not that valuable really, the $5 note is worth $8 maybe $10, but still, it's an interesting note to have. I guess someone didn't know what they had or decided the pack of cigarettes was more important. :

[Mark in Oshawa]

Thanks guys for information. Looks like the only posibility to spend them is to go to USA - which will never happen.

I cannot believe that someone will not pay you for those bills. They are legal tender...

The US dollar still is the de facto currency in many parts of the world...

[Jag_Warrior]

Interesting. For the most part new notes are brought in to counter forgeries and withdrawing the old notes from circulation is a necessary step to make sure only the newer - more secure, notes are used.

So I wonder how that problem is tackled in the USA if all notes are valid forever?
(Of course they are in the UK too, it's just that the older the note the more difficult it is to trade it in)

Purely a guess on my part. But since the life of most paper notes is rather short (just a few years on average from what I've read), I'd say that if you showed up at a bank or store with some $20's or $50's that looked brand new, but that style hadn't been printed in 5 or 10 years, you'd probably wind up having to explain yourself to some Secret Service agents if they proved not to be real.

When you go into a store or bank, it's funny how no one pays much attention to $5's or $10's. But try to pay with a $20 or above at a lot of places and they give it the full investigation. I asked a girl at a gas/convenience store why she cared and she said the store gave the employees a reward for every counterfeit bill they found.

[Camelopard]

I cannot believe that someone will not pay you for those bills. They are legal tender...

The US dollar still is the de facto currency in many parts of the world...

That is true, in Lebanon for example, cash machines dispense either dollars or Lebanese pounds depending on what you want, the Lebanese pound is tied to the dollar.

The problem with older US notes is that apparently they were easier to counterfeit, therefore many banks and change outlets outside of the USA will give you a lower rate for them. The same goes for dirty or ripped notes. Actually that goes for any currency, for example I once had
French Francs refused in Mali as they were not in pristine condition, even though at the time the West/Central African Franc was tied to the French Franc at a fixed rate.
A lot of guide books (LP for example) will tell you to carry small denominations in new notes.