View Full Version: Money Question

Zoids Evolution Forums > General > Money Question



Title: Money Question


K-62 - August 1, 2005 06:19 PM (GMT)
I was wondering if bill is out of circulation for bout 80years is it still usable? Like can you still buy stuff with it or do you have to go change it or somehting.

ZeRoRaVeN - August 1, 2005 06:41 PM (GMT)
Depends, what country is the currency from? If its from the US and it has a BLUE seal on it you can go to the federal reserve in Washington and exchange it for silver. It was a law back then that required banks to exchange anybody who asked to exchange their money for silver. Now only the dollars with blue seals works with it.

I have a few still....

HaTcH - August 1, 2005 06:50 PM (GMT)
If its out of date, and 80 years is surely out of date, your best chance is to goto a bank. They'll probably tell you that its worth more as a collectible than its actual dollar value. Does it atleast look like money of today?

MrGuy - August 1, 2005 07:22 PM (GMT)
QUOTE (ZeRoRaVeN @ Aug 1 2005, 12:41 PM)
Depends, what country is the currency from? If its from the US and it has a BLUE seal on it you can go to the federal reserve in Washington and exchange it for silver. It was a law back then that required banks to exchange anybody who asked to exchange their money for silver. Now only the dollars with blue seals works with it.

I have a few still....

Those are called Silver Certificates... I'm pretty sure you can't trade them in anymore. I actually got one in my change when I went to Stop and Shop a few months ago. I was like O_o

If you have one of them, sell it to some collector. They aren't really rare but you'd still get some money from it. More then the actual bill's face value.

ZeRoRaVeN - August 1, 2005 07:28 PM (GMT)
Silver Certificates? I mean the bills themself, the older ones have red and blue seals on them, like the ones we have now are green. It used to be a law...I have quite a stash of them now...I went to washington a few yrs back but forgot to bring them..

MrGuy - August 1, 2005 07:50 PM (GMT)
QUOTE (ZeRoRaVeN @ Aug 1 2005, 01:28 PM)
Silver Certificates? I mean the bills themself, the older ones have red and blue seals on them, like the ones we have now are green.

I know. They're called Silver Certificates >_<

Wiki.

ZeRoRaVeN - August 1, 2005 07:55 PM (GMT)
Hmm it says the US dollar is a amount of money only because the goverment says so, isn't the dollar backed up by silver by we simply can't retrieve it? I mean if it wasn't backed up by anything then if something happened to the US, say the US falling apart wouldn't its money become worthless after the country fell just like the soviet union?

It sucks that our country's money isn't washable/waterproof, like some other countries' money is, like austrialia and canada.

K-62 - August 1, 2005 10:15 PM (GMT)
Its Canadian dollars and I just said 80 years. Its from 1975, I found it in my house when my dad toll me to clean out the attic.

Looks like this its brown the the 100s we have now.
http://us-store.gatewestcoin.com/Canadian_...otes/11107.html

The ones we have now http://www.bankofcanada.ca/en/banknotes/co...00_2001-04.html

I just though since I found an extra hundred I would buy a PSP.

HaTcH - August 1, 2005 11:48 PM (GMT)
The united states dollar is backed up actually by the total debt of the country and also in the stock market. Did you know that most of the total money in our economy doesn't exist? I heard that only like 21% is actually in bill or change form. So for the government to be able to really exchange all of its money to gold or silver would be impossible. Could you imagine Bill Gates going to a bank and saying, give me my money in gold.

Scottfab - August 2, 2005 01:29 AM (GMT)
I learned in macroeconomics. Most money only exists on bank sheets. The money supply increases by a system of loans and reserves.

But shouldnt any money printed be redeemable at the federal reserve bank?

K-62 - August 2, 2005 02:09 AM (GMT)
QUOTE (HaTcH @ Aug 1 2005, 07:48 PM)
The united states dollar is backed up actually by the total debt of the country and also in the stock market. Did you know that most of the total money in our economy doesn't exist? I heard that only like 21% is actually in bill or change form. So for the government to be able to really exchange all of its money to gold or silver would be impossible. Could you imagine Bill Gates going to a bank and saying, give me my money in gold.

The only reason that is true is because the US doesnt own their own money printing place, it is owned privtily. So, everytime a new bill is made the goverment has to pay the printers a cut. Lincoln tryed to make is so that the US government would be the ones controling the money productiong, so he made his own money;I think they were called sliver backs(I dont really know US history I just know what wrong with the US :P) After Linclns death they went out of cura. If Bush ordered the print of new money, but controlled my the government, the national debt would be lowered greatly. Oh the federal reserve has no money its all other peoples money. So, get your money into gold and screw over Bush :P :P :P :P

HaTcH - August 2, 2005 02:42 AM (GMT)
Yes, but just making more money doesnt solve the problem, it creates inflation and higher rates to try and control how much money is in the system. Its frightening what screwing with that can cause, luckly Allen Greenspan has been there for a long time and obviously knows what hes doing!

DefaultPeanut - August 2, 2005 05:13 AM (GMT)
Heh. I have a few 2 dollar American bills.

ZeRoRaVeN - August 2, 2005 02:00 PM (GMT)
Those are cool....quite rare though...its a good thing the 1 dollar coins are very common...I hate them...I like my bills.

Well Allen Greenspan is having quite a problem with the real estate...I think he's thinking of trying to slowing deflate the bubble than have it crash downing on us like the *shudder* tech stock crash....

Inflation is bad, look at the Japanese Yen and the Turkish dollar back then.


K-62 - August 2, 2005 03:05 PM (GMT)
So...can i spend it?

ZeRoRaVeN - August 2, 2005 06:23 PM (GMT)
I seriously doubt it...you'll get ALOT more money selling it to collectors or on ebay. It's probably too old to be used, yanno the security standards might not be acceptable for it to be used.

K-62 - August 3, 2005 01:16 AM (GMT)
It was usable, I went to EB and they took it.

ZeRoRaVeN - August 3, 2005 01:30 AM (GMT)
Really? How much did you get out of it?

K-62 - August 3, 2005 01:46 AM (GMT)
They took it like a normal $100. When I asked they lauged at me and said, "Of couse we will take it money doesnt have an expiration date."

ZeRoRaVeN - August 4, 2005 01:04 AM (GMT)
You probably lost alot of potential money...dude if you just waited long enough to sell it on ebay or to collectors you would've got many times over the face value...and besides that's a waste too! Spending old money....I have US dollars that are much less than 80 yrs, the silver certificates ones, but I keep it just to collect em'...personally I wouldn't have spent it just like that.

Atrophy Within - August 4, 2005 01:45 AM (GMT)
QUOTE (K-62 @ Aug 1 2005, 05:15 PM)
Its Canadian dollars and I just said 80 years. Its from 1975, I found it in my house when my dad toll me to clean out the attic.

Looks like this its brown the the 100s we have now.
http://us-store.gatewestcoin.com/Canadian_...otes/11107.html

The ones we have now http://www.bankofcanada.ca/en/banknotes/co...00_2001-04.html

I just though since I found an extra hundred I would buy a PSP.

If its from 1975, how is it 80 years old? Thats 30 years, not 80. Where is 80 coming from? And yes its still usable. Currancy less than 50 years old, rarely is worth anything than its face value. I have pennies from 1919, US currancy, and they are worth... 1 cent a piece.

Might as well use it.

ZeRoRaVeN - August 4, 2005 01:51 AM (GMT)
I dunno...I'm presuming maybe he has the date wrong...you can't make a math error that big.

But just wait a few more hundred yrs...you get the warm feeling as you're laying in your cold grave that you're descentents will be getting rich over collector's money...moneh moneh moneh...

K-62 - August 4, 2005 01:53 AM (GMT)
It just made up some number it was a general question till I got the idea of buying something with it.

ZeRoRaVeN - August 4, 2005 01:54 AM (GMT)
It's a made up number? Shouldn't it say the date on the bill?




Hosted for free by InvisionFree