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Offline seldom
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« Reply #10 on: September 14, 2010, 03:49:15 pm »
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.I just would have appreciated RO's response more if he had shared his reasoning.....that way others could learn, too.

Its the same old thing all over again. No worry's I will fix it.

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Offline GoldDigger1950
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« Reply #11 on: September 14, 2010, 04:29:42 pm »
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Quote:Posted by seldom
.I just would have appreciated RO's response more if he had shared his reasoning.....that way others could learn, too.

Its the same old thing all over again. No worry's I will fix it.


Are you going to call your Uncle Guido again?

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It's all about that moment when metal that hasn't seen the light of day for generations frees itself from the soil and presents itself to me.
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« Reply #12 on: September 14, 2010, 04:34:05 pm »
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HEY Forgetaboutit  HA HA HA

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If you believe everything you read you are reading to much.
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« Reply #13 on: September 14, 2010, 04:51:13 pm »
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Quote:Posted by BitburgAggie_7377
GD, I'm squarely in the camp of believing it is counterfeit for the same reasons you and BigWater lay out.....I just would have appreciated RO's response more if he had shared his reasoning.....that way others could learn, too.

BA


A few reasons, one being the $100,000 dollar bill was never legal tender, only used in Federal Reserve transactions and all have been accounted for during the 1960 something recall . I'll post some links in a bit.


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Offline BitburgAggie_7377
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« Reply #14 on: September 14, 2010, 05:06:02 pm »
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Thank you.  I'm looking forward to the links.  Having all of the bills accounted for would definitely put a damper on things.

BA

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« Reply #15 on: September 14, 2010, 11:39:57 pm »
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Well actually it was classified as "legal tender for all debts public and private" in order to authorize the transfer of funds from one bank to another... it was just never authorized by the federal reserve bank for release to the public.  There were only something like 40,000 of them ever printed, and they were always illegal for us normal people to own.  These were backed by gold funds of the federal government... These were Gold Certificates... not just a standard bill which might be backed by debt from China.  Not really "cash", but more like a surety bond from the government absolutely guaranteeing that the gold was there that could be exchanged for that note... but a note that you and me couldn't own. Only another bank could own it, with absolute certainty that the funds backed by that note were held in gold reserves by the federal government.

The reason that you and I couldn't hold these notes is that in this time in our history it was illegal for any individual to actually own gold.  You were free to go out and find all the gold you wanted, but since the US was on the gold standard there were laws enacted that stated that you had to turn all of your gold in for US currency.  The currency was worth the value of the gold, but you weren't allowed to keep gold.  Since these were gold certificates, exchangable on demand for gold, they weren't allowed to be owned by individuals since individuals weren't allowed to own gold.

Times have changed.  We're not on the gold standard any more... but it's far too late to remove these interesting notes from the incinerator.



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« Last Edit: September 15, 2010, 08:43:35 am by bigwater » 		Logged
Anybody who says "it can't be done" will usually be interrupted by somebody who is already doing it.
Offline ferdinandTopic starter
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« Reply #16 on: September 15, 2010, 12:42:01 am »
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hi big water, actually this FRN series 1934 was my post and ill try to get some info, regarding on it,,i have here now 10 bundles, 10,000.00USD by each bill, 1 bundle  is 100 bills of 10,000 USD. so maybae can you suggest how to do in order to sell this..
im sorry i missed it, its 100,000 each

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« Reply #17 on: September 15, 2010, 02:43:36 am »
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Just a few links to get started. Evidently, all 42,000 notes were not sent to the Philippines

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http://tomchao.com/na/us12.html


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http://www.bankrate.com/brm/news/drdon/20070322_denomination_treasury_bill_a1.asp





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http://www.ny.frb.org/banking/frscams.html



The Federal Reserve has never issued any bonds or notes with coupons attached. The Federal Reserve Bank of New York is not aware of any currency or debt stockpile of large denomination Federal Reserve notes from the 1930s and warns that any institution that pays out on such a claim does so at its own risk.

It should also be noted that the largest denomination of currency ever printed by the Bureau of Engraving and Printing was the $100,000 Series 1934 Gold Certificate featuring the portrait of President Wilson. These notes were printed from December 18, 1934, through January 9, 1935, and were issued by the Treasurer of the United States to Federal Reserve Banks only against an equal amount of gold bullion held by the Treasury Department. The notes were used only for official transactions between Federal Reserve Banks and were not circulated among the general public.

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« Reply #18 on: September 15, 2010, 06:35:03 am »
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Quote:Posted by ferdinand
hi big water, actually this FRN series 1934 was my post and ill try to get some info, regarding on it,,i have here now 10 bundles, 10,000.00USD by each bill, 1 bundle  is 100 bills of 10,000 USD. so maybae can you suggest how to do in order to sell this..
im sorry i missed it, its 100,000 each


You need to wrap your head around the fact that you do not have ten bundles of legitimate $100,000.00 bills.  If you had even one legitimate $100,000.00 bill you would be a criminal and risk going to jail by trying to sell it.  All of these bills were recalled by the Fed and destroyed except for a very few that are accounted for and on public display at places like the Smisthonian Institution.  They simply don't exist in the wild, so your "bundles" are either fakes, or non-existent bunk that you're trying to scam somebody with, or that somebody is trying to scam you with.

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« Last Edit: September 15, 2010, 09:26:33 am by bigwater » 		Logged
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Offline GoldDigger1950
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« Reply #19 on: September 16, 2010, 06:18:21 am »
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This is a tired old subject that gets resurrected every now and again. There are no such notes in the Philippines. There never were.

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It's all about that moment when metal that hasn't seen the light of day for generations frees itself from the soil and presents itself to me.
Let's Talk Treasure!
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