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Pushing 2 Dollar Bills
USSID18
Posts: 338 ✭✭✭✭
So I know little about currency. I hit a lot of banks, roll and box searching for coins. Many tellers over the years have tried pushing 2 dollar bills off on me. They continually ask me if I want any 2 dollar bills. Why? Apparently, the banks stock them for customers. If I take them, why would I or should I take them?
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If they are trying to get rid of them because they are messing up the teller's drawer then I'd take some in order to do them a favor.
As for why, or what to do with them, use them as tips at restaurants, etc.
Yes, some tellers help me out with coins (without having an account) and I've taken some 2 dollar bills off their hands.
I called the mint a couple months ago to verify a billing address on an order. At the end of the call, the rep asked me if I'd like to buy an uncut sheet of 10 two dollar bills. Thought it was weird.
So the billing office was trying to sell you an uncut sheet of 10 two dollar bills? 😂 🤣 That's funny. Are you sure you were talking to the mint? 😂
If I get them I leave them as a tip or use as a donation as well. What ever works 💪
I was thinking collectors might be looking for special serial numbers.
Birthdays, anniversaries and the sorts, holidays
Ever notice that the mint produced "A LOT" of coins and some currency for commerce and general circulation that never (or rarely) get used for commerce and general circulation?
Tellers want to get rid of odd currency because they require extra book keeping entries
(more work) and there often isn't dedicated space for them in cash drawers.
I spend them to spark interest and start conversations which are enjoyable and occasionally leads to something profitable.
Exactly. Especially with coins. They want to get them out of their inventory. Less to count at he end of the day.
I seen alot selling for internet sales/tv. Now its getting released into circulation via the mint. I get making some $$$ but it got ridiculous...
The U.S. Mint has turned into the U.S. Post Office. Selling coins like the Post Office sells stamps!
The recyclers here pay you with $2 bills.
Llamas and alpacas are camels. They aren't like camels, or related. They are camels. When was anyone going to tell me this?! How long had Bill Nye been holding out on us?
For a recent gun show I picked up 2 packs of $100 in $2 bills. I used them as change and most folks enjoyed getting them. I also was giving away Trump 250 dollar bills and selling extras of them for 25 cents each. All the bills went over well and I only took back about $50 in $2 bills to the credit union.
Next show I will do the same thing again (I also give away from packs of baseball cards to the kids and have a big candy dish for the kids and adults).
Let's not forget, we're talking about two separate quasi-government institutions: the Mint for coins, and the Federal Reserve for notes. They each have their own rules for what pieces of money they produce, and when. Much of the "wastefulness" of redundant money comes from bickering between these two organizations.
The Mint would very much like it if the $1 note went away, and everybody used $1 coins instead. Because that would mean more profits on the books for the Mint, since making $1 coins is the most profitable circulation coin the Mint currently makes.
The Federal Reserve makes the paper money, and is also responsible for shipping both coins and notes from where they're made to where they're needed. So the Mint wouldn't have to pay for shipping all those heavy $1 coins across the country - that would be the Federal Reserve's job, and the Federal Reserve's loss of profits - so the Federal Reserve is on the "no $1 coins" side of the debate. But the Federal Reserve's permission to issue $1 notes rests entirely with Congress; Congress can stop $1 in their tracks, simply by amending the Federal Reserve Act to remove $1 notes from the list of denominations they are permitted to issue. Of course, we all know the cotton lobby persuaded Congress to block any plans to nix the $1 note. And so here we are, with the Mint producing giant stockpiles of $1 coins which the Federal Reserve refuses to encourage the usage of.
As for the proliferation of $2 notes, that was at least in part due to the Federal Reserve presuming it would lose the debate concerning introducing a $1 coin. To help maximize their profits and minimize their losses after the successful introduction of $1 coins and withdrawal of $1 notes, they would have greatly ramped up $2 note production, on the theory that most people could easily be persuaded to carry around a $2 note instead of two $1 coins. So in 1999, they made a giant order of $2 notes, in anticipation of a need that never really arrived. And all those $2 notes are still sitting around, very rarely getting issued, very rarely getting withdrawn and destroyed because they very rarely get damaged in circulation so much they can't be re-issued.
Roman emperor Marcus Aurelius, "Meditations"
Apparently I have been awarded the DPOTD twice.
The mint would like to see the $1 note go away and the reserve would probably like to see the $1 coin go away........not that anyone uses them.
Successful introduction of $1 coins? Let's face it, a lot of production line from the mint and federal reserve (mostly the mint) are just sitting around. From where I sit, I never see small dollar coins, halves or Ike's in change or circulation.