The $500's story

[Monterey Jack]

Pretty much the only time I have bills larger than a $20 in my wallet is when I withdraw money to pay my rent...it's easier to count out a handful of hundreds than a few dozen twenties.

[XCashier]

Me: Okay, here's the cash, thank you, have a good day.
SC: *stares at envelope and lets out huge sigh*

"Thank you for doing business with the Bank for Passive-Aggressive Customers, I suppose that's the best we can do, try to have a nice day anyway!"

Jeez, who doesn't know what type of money is in circulation? When's the last time the twit even saw a $500 bill in circulation? Or had one in her wallet? I know the only place I've ever seen them is for sale at a coin and stamp shop.

[BrenDAnn]

The largest bill I have ever seen is $100, and they're a pain to break at work. If someone walked in with a $500 or a $1,000, they'd be looked at with a combination of suspicion, and wondering just how the hell they think we'd be able to handle that. Chances are, the twit in the OP just wanted to look like Mr/Mrs Bigbucks, and got mad when denied. Oh well. Life goes on.

[Deevil]

I recall reading a story about the difficulties of breaking a large bill - it was about a million pound banknote.

Mark Twain, great short story.

[thehippie777]

$500 and $1000 bills are no longer in regular circulation in the United States. We, as a bank, can't give them to the Federal Reserve and expect them to honor them.

But yes, collectors do have them. Banks, at regular area branches, will not honor nor carry them. As for big coast banks, I have no idea.3

I just do what my job says, and we don't accept such bills are legal currency.

Sorry?

[raudf]

Given how hard it is to break a 100.. forget it. I've only used the 100 to buy a used car. I even put big ticket purchases on my debit card. Safer than carrying all that money on me.

[notalwaysright]

Hm, my mom uses $100s all the time and unless it's a small shop (where she will ask first) she never has had any problems. I mean, she's not buying a bottle of water and nothing else, so maybe that helps? Still, I have seen her use large bills very regularly without issue. Um, not $500 bills, which I didn't realize even existed until this post. A while ago we got two 1953 $2 bills, which made me sad. You save them for years and use them at my store? Aw.

[thehippie777]

Hm, my mom uses $100s all the time and unless it's a small shop (where she will ask first) she never has had any problems. I mean, she's not buying a bottle of water and nothing else, so maybe that helps? Still, I have seen her use large bills very regularly without issue. Um, not $500 bills, which I didn't realize even existed until this post. A while ago we got two 1953 $2 bills, which made me sad. You save them for years and use them at my store? Aw.

$2.00 bills are still made and in circulation. I have $20 worth in my drawer at work as we speak.

[Naaman]

No idea, I've never been in a situation involving that. Probably not, as Argabarga says. They have a scanner that they can run the bill through to check if its legit, but you still have the headache of cashing it in.

I don't think it's cashing it in that's the problem, it's that if staff take in a counterfeit note then the business is out of pocket for that amount

[Ironclad Alibi]

$500 and $1000 bills are no longer in regular circulation in the United States. We, as a bank, can't give them to the Federal Reserve and expect them to honor them.

...

I just do what my job says, and we don't accept such bills are legal currency.

According to the US Federal Reserve Board,

In 1933, Congress changed the law so that all U.S. coins and currency (including Federal Reserve notes), regardless of when issued, constitutes "legal tender" for all purposes.

The above web site goes on to say,

Section 31 U.S.C. 5103, entitled "Legal tender," states: "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."

This statute means that all United States money as identified above is a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law which says otherwise.

In summary, all such bank notes are legal tender, but your bank, being a private business, does not have to accept them.

[notalwaysright]

$2.00 bills are still made and in circulation. I have $20 worth in my drawer at work as we speak.

Well, yes we get regular $2 bills fairly often. I just hadn't seen the 1953 style before, though I know they're not rare. I thought they must have been in somebody's attic, or something, since there were two of the same year. They didn't make it back to the bank, they got traded out by a manager who collects old money.

[Racket_Man]

$500 and $1000 bills are no longer in regular circulation in the United States. We, as a bank, can't give them to the Federal Reserve and expect them to honor them.

But yes, collectors do have them. Banks, at regular area branches, will not honor nor carry them. As for big coast banks, I have no idea.3

I just do what my job says, and we don't accept such bills are legal currency.

Sorry?

and about that time is when Grandma or Grandpa dies and had a bunch of OLD bills stashed somewhere (in very good condition blue/red seal or sliver or gold certificates) and these dummies come into the bank or go to a store and just spend them like regular money. The numismatic value most often exceeds the face value.

[Chromatix]

Mark Twain, great short story.

Here's a copy.

[Gilhelmi]

(Even the rarely-seen $2 bill is looked at with suspicion by some)

There is the Ore Cart in Estas Park, CO. The owner is single handily trying to bring the $2 into circulation by using them to make change. I go there every time I visit.

[thehippie777]

This might get me banned, but seriously, the two different banks I have worked for will NOT accept $500's & $1,000.

Odds are sending them directly to the Fed would be the only way to exchange them.

I think I know my job and what I have been told at my job, regardless of what is said on a federal website etc. I know what WE CAN'T DO! We have no way to accept them, trust me.

SC sounding off?

According to the US Federal Reserve Board,



The above web site goes on to say,



In summary, all such bank notes are legal tender, but your bank, being a private business, does not have to accept them.