dbang1988 Posted July 4, 2007 Report Share Posted July 4, 2007 http://www.moneyfactory.gov/document.cfm/5/42/1359 Why? Link to comment Share on other sites More sharing options...
San_Miguel98 Posted July 4, 2007 Report Share Posted July 4, 2007 because it is a 1934 gold certificate payable in gold, and the u.s. ended the gold standard in 1933. this note was only meant to make transfers between federal reserve banks easier. all gold certificates were illegal to own from 1933 until 1964, when the circulating denominations, (everything but the $100,000), were made legal for collectors again. Link to comment Share on other sites More sharing options...
Scottishmoney Posted July 4, 2007 Report Share Posted July 4, 2007 They may have made the $10 and $20 gold certificates illegal to hold, but a lot of people must have broken the law because there are still quite a few of them around. You know a government is doing a good thing when all of a sudden it makes millions of it's citizens law breakers with a sweeping overnight law. Link to comment Share on other sites More sharing options...
dbang1988 Posted July 5, 2007 Author Report Share Posted July 5, 2007 SO this means even if someone has such a note, he or she has to give up the note and hand over to the government in order to avoid the penalty?? Link to comment Share on other sites More sharing options...
Vfox Posted July 5, 2007 Report Share Posted July 5, 2007 It's similar to the 1933 double eagles in the fact that it should be illegal to own according to law. But, if it was to find its way into the hands of a collector, with a lot of time and money to spend in court, it may be able to one day be privately owned. If not you can always buy a cheap copy of one, lol. Link to comment Share on other sites More sharing options...
San_Miguel98 Posted July 5, 2007 Report Share Posted July 5, 2007 yup, if someone has an original they have to keep it a big secret. unfortunately, there are lots of fakes out there. i find it highly doubtful that any legitimate $100,000 notes escaped the tightly controlled fed system. this note is too large of a denomination to "misplace", and none of them were ever intended to circulate. that puts them in a totally different category than the 1933 gold st gaudens, error notes, and other "escapees". here's an old thread about the same subject. apparently, there are a lot of fakes in indonesia. http://www.coinpeople.com/index.php?showtopic=13696 Link to comment Share on other sites More sharing options...
Scottishmoney Posted July 5, 2007 Report Share Posted July 5, 2007 Somewhere I read a listing of the remaining numbers of large denomination notes. There are believed to be about 300000 existing $500 bills, approximately 100000 $1000 bills, only a few dozen $5000, and approximately 120 $10000 bills left Link to comment Share on other sites More sharing options...
LostDutchman Posted July 5, 2007 Report Share Posted July 5, 2007 I read a story once about a gentleman walking into a las vegas casino with a $100,000 note. the casino bought it for some low ball amount of chips.... and he lost it all... i don't remember specifics cause it has been a while since i read the story.....but i do remember reading it Link to comment Share on other sites More sharing options...
Scottishmoney Posted July 5, 2007 Report Share Posted July 5, 2007 I read a story once about a gentleman walking into a las vegas casino with a $100,000 note. the casino bought it for some low ball amount of chips.... and he lost it all... i don't remember specifics cause it has been a while since i read the story.....but i do remember reading it It must have been a $10,000; they were the largest note actually circulated. Now there are only a couple of hundred of them known to be extent. I have noticed the prices on the large denomination notes have risen considerably in the last couple of years, it used to be you could get a average circulated $500 for about $550-575 or so, now they start out at about $750-850. The $1000's usually start out at about $1850 on up. Link to comment Share on other sites More sharing options...
jtryka Posted July 5, 2007 Report Share Posted July 5, 2007 Didn't Binions have a "million dollar display" that contained 100 $10,000 bills? Link to comment Share on other sites More sharing options...
Scottishmoney Posted July 5, 2007 Report Share Posted July 5, 2007 Didn't Binions have a "million dollar display" that contained 100 $10,000 bills? Yes indeed, Ted Binion had purchased them over a period of time and then they were displayed. It is amazing to think that he probably had about 1/3 of all known extent notes. I saw somewhere that there are approximately: $500 about 300000 remain unredeemed $1000 about 100000 remain unredeemed. $5000 about 300 remain unredeemed $10000 about 320 remain unredeemed. Link to comment Share on other sites More sharing options...
Vfox Posted July 5, 2007 Report Share Posted July 5, 2007 Too bad all the small sized 500-10000 notes are hidious, lol. Give me the $1-$5, and a plate of the $10 educational series anyday! Even if it's 10 times as common. Link to comment Share on other sites More sharing options...
Scottishmoney Posted July 5, 2007 Report Share Posted July 5, 2007 Too bad all the small sized 500-10000 notes are hidious, lol. Give me the $1-$5, and a plate of the $10 educational series anyday! Even if it's 10 times as common. Some guy on banknotebank.com has one. Link to comment Share on other sites More sharing options...
jtryka Posted July 5, 2007 Report Share Posted July 5, 2007 Although the large denominations of small size are scarce, they are nothing compared with the large size large denominations! Check these out: The $500 has to be my favorite. Link to comment Share on other sites More sharing options...
Scottishmoney Posted July 5, 2007 Report Share Posted July 5, 2007 I wonder if they will take the McKinley note in trade for the John Marshall note? Link to comment Share on other sites More sharing options...
jtryka Posted July 5, 2007 Report Share Posted July 5, 2007 Based on the price realized in 2005, you would need about 44 Marshalls at face in trade! Link to comment Share on other sites More sharing options...
Scottishmoney Posted July 5, 2007 Report Share Posted July 5, 2007 And now I would undoubtedly need quite a few more since prices have gone way up in the last year. Link to comment Share on other sites More sharing options...
see323 Posted July 5, 2007 Report Share Posted July 5, 2007 I saw one $500 with low serial number 000000005. It was in an auction which has expired. I asked about it but no reply. Otherwise, I would have added it into my collection. Link to comment Share on other sites More sharing options...
dbang1988 Posted July 6, 2007 Author Report Share Posted July 6, 2007 I saw in one of my local coin store in Santa Barbara, CA, selling one 1,000 Dolalr green seal. Th econdition seems to be AU or UNC. and the price they sell I remember is range from 5,000 to 6,000 dollar. Would this be too high? Link to comment Share on other sites More sharing options...
Scottishmoney Posted July 6, 2007 Report Share Posted July 6, 2007 I saw in one of my local coin store in Santa Barbara, CA, selling one 1,000 Dolalr green seal. Th econdition seems to be AU or UNC. and the price they sell I remember is range from 5,000 to 6,000 dollar. Would this be too high? Depends on what year it is, 1928 or 1934, and the Federal Reserve District, and variables like the serial number etc. Link to comment Share on other sites More sharing options...
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