Any coin "investment" as bad as the $1000 bill?
MGLICKER
Posts: 7,995 ✭✭✭
None come to mind, off hand, at least not after an 80 year hold period.
Circulated but still decent looking $1000 bills can be bought today in the $1500 range. That bill would have purchased maybe two new cars when issued in 1934. Today the $1500 current value buys you a new clutch for your old jalopy and a case or two of sriracha sauce.
The same $1000 would have picked up 30, $20 Gold coins (remember the 50% to bullion numismatic premium that the new law required). If you liked silver, circulated Dimes and Quarters would have enjoyed a 15 to one return on your $1000. Adjusted for inflation a negative return, but way better than the $1000 bill.
Even tubs of Lincoln Cents would have fared better as the old Wheaties are worth what, 3 or 4 times face?
Circulated but still decent looking $1000 bills can be bought today in the $1500 range. That bill would have purchased maybe two new cars when issued in 1934. Today the $1500 current value buys you a new clutch for your old jalopy and a case or two of sriracha sauce.
The same $1000 would have picked up 30, $20 Gold coins (remember the 50% to bullion numismatic premium that the new law required). If you liked silver, circulated Dimes and Quarters would have enjoyed a 15 to one return on your $1000. Adjusted for inflation a negative return, but way better than the $1000 bill.
Even tubs of Lincoln Cents would have fared better as the old Wheaties are worth what, 3 or 4 times face?
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CoinsAreFun Toned Silver Eagle Proof Album
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Gallery Mint Museum, Ron Landis& Joe Rust, The beginnings of the Golden Dollar
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More CoinsAreFun Pictorials NGC
Current issue mint and proof sets are money losers or at best money break-evens.
Cashback from Mr. Rebates
<< <i>Pony up and get a $5000 Madison. >>
What about $10,000 notes? I have no idea how much they are but I agree...notes of $500 or more are cool but I can't say that I am interested in losing my butt on too many things.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
bought this for 500
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Erik
``https://ebay.us/m/KxolR5
<< <i>When was holding paper at face value ever a good idea? >>
1928 $1000 bill up 35 % in 3 years
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<< <i>When was holding paper at face value ever a good idea? >>
1928 $1000 bill up 35 % in 3 years >>
I think you misinterpret my initial post. I guess I've got to spell it out. By saying "face value" I'm referring to owning currency which derives its worth not from its scarcity or collectible status, but from only its face value. Most of the "common" $1000 notes fall into this category.
Obviously there are countless examples of collectible currency that have done very well over time.
Edited to correct grammar......
Unfortunately I told her I could only pay her $1025 for it as I might have been able to make $25-$50....but even that was a stretch.
She was shocked and was skeptical that maybe I was trying to "take her" but showed similar pieces that sold at auction for similar results.
In the end I told her to just keep the bill or try shopping it around. I heard later through the grapevine that nobody else wanted to pay over face.
My Adolph A. Weinman signature
<< <i>I own a $500 and $1000. I was always fascinated with large denominations as a kid and got to fulfill an old childhood dream of owning one. >>
Regardless of cost, I'll do this someday as well.
Just like I did with the 55/55 Lincoln.
The name is LEE!
Honestly, I thought the premiums for common-date $1000s were higher. Their value can't drop much more..... might be fun to pick one up.
Ugly? Fine
No real premium? Fine
They still have a cool factor for me.
Although, I'd probably pick and choose a less ugly version of them.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
``https://ebay.us/m/KxolR5
The Maltese Falcon and the 1941 Humphrey Bogart film.
In the film, Bogart's character is paid with ten $1000 dollar bills.
Even in 1941 they were obsolete, the last ones were made in 1934.
The strangest place where some turned up was in Poland in the early 1940's.
A German officer named Rudolf Höss reported that some of his soldiers were finding them.
The Mysterious Egyptian Magic Coin
Coins in Movies
Coins on Television
<< <i>With $1000 being "what it is" today, a cat vet bill, car mechanic bill.. its not out of the question to see a need and use for circulating large bills. A "New Style" McKinley and Cleveland would be WOW! There ARE people who live cash and after the novelty wore off, just like spending a $100 >>
You're unlikely to see any new high denomination bills any time soon. The government doesn't want to facilitate the underground economy---especially drug dealers.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
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<< <i>With $1000 being "what it is" today, a cat vet bill, car mechanic bill.. its not out of the question to see a need and use for circulating large bills. A "New Style" McKinley and Cleveland would be WOW! There ARE people who live cash and after the novelty wore off, just like spending a $100 >>
You're unlikely to see any new high denomination bills any time soon. The government doesn't want to facilitate the underground economy---especially drug dealers. >>
Seems like there was a recent thread where a lot of folks said they didn't like 50s and 100s. Can't imagine 1000s would be very useful esp. with the cash reporting laws now in place. Also employee theft is a potential problem for businesses that would take them.
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<< <i>With $1000 being "what it is" today, a cat vet bill, car mechanic bill.. its not out of the question to see a need and use for circulating large bills. A "New Style" McKinley and Cleveland would be WOW! There ARE people who live cash and after the novelty wore off, just like spending a $100 >>
You're unlikely to see any new high denomination bills any time soon. The government doesn't want to facilitate the underground economy---especially drug dealers. >>
Seems like there was a recent thread where a lot of folks said they didn't like 50s and 100s. Can't imagine 1000s would be very useful esp. with the cash reporting laws now in place. Also employee theft is a potential problem for businesses that would take them. >>
Small stores and fast food places don't like them because they are afraid their minimum wage employees would take counterfeit bills. I can see $1000 bills being popular for large purchases especially at coin shows. The Europeans have a 500 Euro bill that they use which is worth about $600.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
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<< <i>With $1000 being "what it is" today, a cat vet bill, car mechanic bill.. its not out of the question to see a need and use for circulating large bills. A "New Style" McKinley and Cleveland would be WOW! There ARE people who live cash and after the novelty wore off, just like spending a $100 >>
You're unlikely to see any new high denomination bills any time soon. The government doesn't want to facilitate the underground economy---especially drug dealers. >>
Seems like there was a recent thread where a lot of folks said they didn't like 50s and 100s. Can't imagine 1000s would be very useful esp. with the cash reporting laws now in place. Also employee theft is a potential problem for businesses that would take them. >>
Small stores and fast food places don't like them because they are afraid their minimum wage employees would take counterfeit bills. I can see $1000 bills being popular for large purchases especially at coin shows. The Europeans have a 500 Euro bill that they use which is worth about $600. >>
Can slot machines detect if a $100 bill is legit or not?
"Keep your malarkey filter in good operating order" -Walter Breen
<< <i>$1000 dollar bills turn up in literature, including Dashiell Hammett's
The Maltese Falcon and the 1941 Humphrey Bogart film.
In the film, Bogart's character is paid with ten $1000 dollar bills.
Even in 1941 they were obsolete, the last ones were made in 1934.
The strangest place where some turned up was in Poland in the early 1940's.
A German officer named Rudolf Höss reported that some of his soldiers were finding them.
The last dated $1000 is 1934 but they were printed up until 1945. I believe it was 1969 when they stopped trading within banks.
<< <i>In the 60's, Monty Hall of Let's Make a Deal fame, always handed out $1,000 bills.
I remember one show where a contestant passed on 2 ham sammiches each having a $5K bill [or equivalent] inside of it.
She had about 100.
<< <i>Monty was a dealmaker. At the end of one show he offered a lady $100 for each Silver Dollar she had in her bag.
She had about 100.
I wonder if he sent her a reminder to bring some.
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<< <i>Monty was a dealmaker. At the end of one show he offered a lady $100 for each Silver Dollar she had in her bag.
She had about 100.
I wonder if he sent her a reminder to bring some.
Great point! My cynic DNA was not yet developed in 1968.
<< <i>Can slot machines detect if a $100 bill is legit or not? >>
Yes, and coins too. I own three machines.
<< <i>When was holding paper at face value ever a good idea? >>
Oct 2008-April 2009
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<< <i>When was holding paper at face value ever a good idea? >>
Oct 2008-April 2009 >>
Well said.
Assuming by April 2009 you properly invested it
If you still hold it in Dec 2013 it was not the best idea after all
<< <i>"Oct 2008-April 2009"
Assuming by April 2009 you properly invested it
If you still hold it in Dec 2013 it was not the best idea after all
Still better than owning a house just about anywhere...but especially here in Las Vegas
<< <i>I bought a $1,000 bill six or seven years ago. Dumb thing to do--I dumped it a few years later at a $200 loss. I enjoyed the novelty of it, but as an investment...well, I won't be owning another one. >>
You sold a thousand dollar bill for 800 bucks? .