Whoa!

http://www.gold-eagle.com/editorials_99/mcintosh112399.html

-- LM (latemarch@usa.net), November 23, 1999

Answers

You're right...Whoa!

-- Sha-Kahn (prepare@home.com), November 23, 1999.

Link

-- Dave (aaa@aaa.com), November 23, 1999.

Try again...

Link

-- Dave (aaa@aaa.com), November 23, 1999.

This is strictly empirical evidence, but I have noticed the complete absence of NEW small-denomination bills. I can't remember the last time I saw a new bill under $20.00. The ones and tens are especially bad.

In contrast, 1/2 the 20s I get from the ATM appear to be new, and when I withdraw cash from the tellers, the always try to push $50 and $100 bills, which are crisp and new. Since I read Gary North, I always ask for 20s...

Where are the new small bills?????

-- No Polly (nopolly@hotmail.com), November 23, 1999.

Just walked into bank, cashed paycheck, and asked for ones and fives. As I was getting the cash, just mentioned offhand that i was having a garage sale and needed change. Teller nodded as to say "oh yeah, been there" and that was that. Did the same at other branches and got tens and all the small stuff i wanted.

-- JB (noway@jose.com), November 23, 1999.

I have been "hoarding" cash in small bills now for over six months.

I have occasionally seen some new $10 bills out of a machine which dispenses only 10s, and now and again I see a set of new $5 pop out of other machines. It's been a while for the $1, though.

There is only one reason the new 20s have not completely erased the old: Y2K. Without it, the old 20s would be long gone by now.

-- nothere nothere (notherethere@hotmail.com), November 23, 1999.

SYSOP: Again, I request that you have a link to FAQ at the top of the main page. Such FAQs would include acronyms and other information. IT WOULD ALSO INCLUDE THE REMINDER THAT "LINKS, LINKS, WE DON' NEED NO STINKING LINKS" -- THAT ANYONE WHO CAN'T DO A COPY AND PASTE TO GET TO A URL POSTED IN A MESSAGE NEEDS REMEDIAL TRAINING AND QUIT CLUTTERING UP THE THREADS WITH "Link Please". "Ok, here's the the link". "link". "Oops." "Trying again". "link".

-- A (A@AisA.com), November 23, 1999.

McIntosh does have a way with words -- I loved the analogy to a Mexican bus with bad brakes going over the cliff. :-)

-- A (A@AisA.com), November 23, 1999.

Just got back from picking up extra bags of dog food at the pet store. At the register was a little sign "we need singles and fives". All I know is that sign wasn't there last month...

-TECH32-

-- TECH32 (TECH32@NOMAIL.COM), November 23, 1999.

He may have a way with words, but I don't like him. His "minimum wage drone" might be studying for a GRE. I know one or two things, but I TRY not to be a royal pain about it; this guy sounds like he'd never let you forget it.

-- bw (home@puget.sound), November 23, 1999.

Heard on the radio that the gov. is printing the New design $5 and $10 bills in the same format as the new $20's....due out the first part of Dec. Didn,t hear anything about the one's.

-- Scotty (Tonka@home.com), November 23, 1999.

No way, the new $5s/$10s are not supposed to be out until mid-2000 from everything that I have read. (I suspect that they have had had the presses going full blast on the current crop of BIG bills for the past few months, so that they can tout the maximum dollar value of the total cash that will be on hand for people who want cash. But you don't need $100s/$50s or even $20s, you want the lower denominations, including coins.)

-- King of Spain (madrid@aol.cum), November 23, 1999.

Your Highness,

That must when they're due to reach Spain. I saw some at least a month ago, if not before.

-- flora (***@__._), November 23, 1999.

I've been withdrawing from the Canadian ATM's near Toronto for months now. Mostly I get old, dirty, folded, crushed, torn, bent, written on (by tellers I think, counting their piles) and stained money. I hate it. I want crisp new bills!!! Sometimes I withdrew $300 and put back $200, keeping only the half decent ones.

Every now and then I'll find a machine issuing crisp new $10's. It's a pain though, inserting card, keying $20.00 withdrawal, removing card, withdrawing cash. Repeat this several times to ensure you only get $10's. If you ask for larger amounts, you'll get $20's and maybe $50's.

Last May my wife wanted a new car. It really bugged me when I had to spend my Y2K cash stash. I had painstakenly accumulated about $2,500 in crisp small bills, only to be spend at the car dealer.

Today I got a good mix of 2x new $50's, 3x good $20's, 2x mediocre $20's. No $10's.

I'll be really annoyed if the banks leave all the new bills till the end.

-- Cable_man (cable_man@geocities.com), November 23, 1999.

...on the other hand, Cable_man, there are advantages to using "pre-owned" bills (if they're not TOO ratty):

New bills WILL tend to stick together.

And people I've given three brand-new, crispy, unwrinkled bills to have often kidded, "Ah, printed 'em up this morning, huh?" Three months ago, it was droll. Three months from now, it might not be. (Hint: Low Profile.)

-- I'm Here, I'm There (I'm Everywhere@so.beware), November 23, 1999.

TRY TO GET NEW BILLS IF YOU ARE ACCUMULATING THEM. Historically governments will replace the style of currency if they are faced with a "run on the banks". i.e. They may say that as of March 31 the old style currency will be worthless. It must be exchanged at the bank for the new style. When you take yours in for the exchange they make you leave it on deposit and write checks against it. That way the money has to stay in the banking system. Supposedly most of our printed currency circulates OUTSIDE of the continental US. A similar mmaneuver could be used if a "run on the dollar" began. This is part of the reason for the increased interest in actual gold and silver coins/bullion. I would guess the smaller currency and coins might not be effected as it takes too much time and effort and printing capacity to produce the new ones - 20 $1 bills versus 1 $20 bill. There have been stories since the 70's of warehouses full of a new currency - I usually hear that it is brown and called the "Eagle". If that is true than a complete changeover could be possible. Anyhow, if you are accumulating currency, trading up to the new version should be better.

-- RickE (vrevans@bigfoot.com), November 24, 1999.