• Do such bills actually exist?

    From Wilfred van Velzen@2:460/58 to All on Tue Dec 15 13:30:09 2020
    Do such bills actually exist?

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  • From August Abolins@2:460/58 to Wilfred van Velzen on Tue Dec 15 15:38:13 2020
    Do such bills actually exist?

    The million dollar bill is a souvenir bill. :( The highest denomination that I am aware of that the Bank of Canada issues is the $1,000 bill. However, even this souvenir bill can fetch a modest price if in good condition. Mine is not so good.


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  • From Shawn Highfield@1:229/452 to August Abolins on Wed Dec 16 11:59:56 2020
    August Abolins wrote to Wilfred van Velzen <=-

    The million dollar bill is a souvenir bill. :( The highest
    denomination that I am aware of that the Bank of Canada issues is the $1,000 bill. However, even this souvenir bill can fetch a modest
    price if in good condition. Mine is not so good.

    In accordance with amendments to the Bank of Canada Act and the Currency Act approved by Parliament in 2018, the federal government recently decided toremove
    legal tender status from some older bank notes as of January 1, 2021.
    This change will affect the $1, $2, $25, $500 and $1,000 notes, which are no longer being produced. Essentially, this means that Canadians will no longer be able to use them in transactions.

    The $1 and $2 notes stopped being issued in 1989 and 1996, respectively, andwere replaced with coins.
    The $25 note was a commemorative note. Both it and the $500 note werediscontinued shortly after they
    were issued in 1935.
    The $1,000 note stopped being issued in 2000.
    Some rarer notes could be worth significantly more than face value tocollectors.
    The Bank of Canada has provided step-by-step instructions for sending banknotes directly to the Bank for redemption using our Bank Note RedemptionService.
    For more information, read our backgrounder on changes to legal tender status. - Bank of canada website, May 31, 2019

    So that kind of sucks for people who pay cash for large purchases.

    Shawn

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  • From August Abolins@2:460/58 to Shawn Highfield on Wed Dec 16 19:36:16 2020

    This change will affect the $1, $2, $25, $500 and $1,000 notes, which are no longer being produced. Essentially, this means that Canadians will no longer be able to use them in transactions.

    The $1 and $2 notes stopped being issued in 1989 and 1996, respectively, andwere replaced with coins. The $25 note was a commemorative note. Both it and the $500 note werediscontinued shortly after they were issued in 1935. The $1,000 note stopped being issued in 2000.

    BUT.. I think the same article continues to say:

    "But, the bank said these notes will not lose their value. Canadians can redeem them or keep them."


    Some rarer notes could be worth significantly more than face value tocollectors.

    It might be possible to list them on eBay - and hope for the best, but generally, a buyer/collector is not guaranteed to pay the boastful purported price mentioned in some news article.


    SH> The Bank of Canada has provided step-by-step instructions for sending banknotes directly to the Bank for redemption using our Bank Note RedemptionService. For more information, read our backgrounder on changes to legal tender status. - Bank of canada website, May 31, 2019

    Meanwhile, just delivering them to any canadian bank ought to work too.


    So that kind of sucks for people who pay cash for large purchases.

    I don't visit the bank as often anymore (pissed off at how slow they operate and charge service fees for NO service) ..so I end up with bulky piles of 20's or 50's that I wouldn't mind reducing to a few 500's or something.

    It would easier (no fees, and faster) to just hand over the 20's and 50's and get the larger denominations and walk out than it is to make a deposit. ;)

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  • From Kurt Weiske@1:218/700 to Wilfred van Velzen on Tue Dec 15 07:13:00 2020
    Wilfred van Velzen wrote to All <=-

    Do such bills actually exist?

    Clinton?
    Gates?
    Barr?
    Mumy?



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  • From Kurt Weiske@1:218/700 to August Abolins on Tue Dec 15 07:14:00 2020
    August Abolins wrote to Wilfred van Velzen <=-

    Do such bills actually exist?

    The million dollar bill is a souvenir bill.

    When I was a kid, I remember watching a SpiderMan cartoon, and the
    bad guy wanted a 2 million dollar ransom paid in 2 1 million dollar
    bills.

    I imagined trying to pass those off at a 7-11.



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  • From Kurt Weiske@1:218/700 to Shawn Highfield on Wed Dec 16 07:24:00 2020
    Shawn Highfield wrote to August Abolins <=-

    So that kind of sucks for people who pay cash for large purchases.

    I suppose that's the idea. The 2020 coin shortage combined with
    the pandemic has people urged to use debit cards instead of cash.
    Money is as unsanitary as it's always been but now it's treated like
    it's a petri dish.

    In the USA, the "war on drugs" prompted the discontinuance of larger denominations, and the PATRIOT act made purchasing or carrying $10,000
    in cash an object of additional scrutiny, regardless of circumstance.

    While it sounds tin-foil hattish, you know that in some circles of
    banking and government there have to be people thinking that being
    able to trace all financial transactions is a good thing and an
    end-game where the government has complete control over the money (and therefore the constituency) is a good thing.



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  • From Mike Powell@1:2320/105 to KURT WEISKE on Thu Dec 17 11:41:00 2020
    When I was a kid, I remember watching a SpiderMan cartoon, and the
    bad guy wanted a 2 million dollar ransom paid in 2 1 million dollar
    bills.

    I imagined trying to pass those off at a 7-11.


    I am imagining Bart Simpson asking for ~2 million squishies at the
    Qwik-E-Mart.

    Mike


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