ANYBODY GOT CHANGE FOR A MILLION?

BY DAN MILLER
(originally posted October 26, 2004)

I hope you're not stuck with an old $1,000,000 bill in your wallet... because you can't spend it.

Contrary to popular legend, the U.S. Treasury never produced such a note. So if you swapped, say, ten of your $100,000 bills for one $1,000,000..... you, my friend, got "took".

I was told the other day by a knowledgeable coin and money collector, that a $1,000,000 note really had been issued..... but, after a little checking, I learned it's just not true.

They DID produce $100,000 notes for a couple of years in the 1930's.... so if you're still carrying around several of those - first, congratulations - and second, rest assured you can still redeem them for full face value.

Any money ever issued by the U.S. Treasury..... no matter how old..... is still valid and redeemable at full face value.

But also remember this.... really old money is probably worth considerably more to collectors than it's face value.

For example, I saw an old $500 note on sale by collector for $900. So, if you have an old $500... before spending it at Taco Bell, take it to a collector instead. Maybe he'll even treat you to a burrito.

The Treasury no longer distributes currency in denominations of $500, $1,000, $5,000, or $10,000. A few might still be in circulation, though they haven't been printed since World War II.

If you're wondering how long new currency will survive out there in circulation.... here's what the treasury folks say:
A $1 bill lasts 18 months; a $5 bill, two years; a $10 bill, three years; $20 bill, four years, and $50's and $100's last nine years.

What got me thinking about all of this was a little story last week from Fond du Loc, Wisconsin.
Several employees of a Taco Bell called police after someone tried to pay for their meal with two strange looking $5 bills, which alarmed the employees.
Turns out the currency was just old. One bill was dated 1963, and the other 1928.

Oh, and here's something I learned on my recent trip to Germany. If you have any old German marks, you're out of luck. They've been replaced by the euro.... the grace period is over.... and they're worthless and no longer spendable.

I still have 5 marks from an earlier trip to Germany, and I plan on hanging on to them for 50 or 60 years, then seeing what I can get from a old money collector.

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Comments

[ainny]

hi i would like to know is that this $ 10,00000 single money is valid, ever issued by the U.S. Treasury..... no matter how old..... is still valid and redeemable at full face value.i s this is will work now.Is that a $1,000,000 note really has been issued..by us goverment

thanks lots
ainny
ainnyainny@yahoo.co.in