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Posted: 3/9/2006 4:27:23 AM EDT
$10,000 bill sent to N.Y. for safe keeping http://www.boston.com/news/nation/articles/2006/03/09/10000_bill_sent_to_ny_for_safe_keeping/ March 9, 2006 GREEN BAY, Wis. --A rare $10,000 bill is getting a new home. The bill -- one of 15 large-denomination bills at a Chase Bank branch in Green Bay -- was shipped to the bank's corporate archives in New York for safe keeping.  The $10,000 bill bears the likeness of Salmon P. Chase, for whom the bank was named. Chase was a U.S. senator who served as treasury secretary under President Lincoln. The large bill was discovered in a bank customer's safety deposit box after the owner died 20 years ago. The woman's family exchanged the currency at face value, and the bank stored the bill in a plastic sleeve for protection. But bank officials decided the bills would be safer at the JP Morgan Chase & Co. corporate office in New York. The bank sent the bills there last month by armored truck. The government stopped printing bills larger than $100 in 1945 and hasn't issued any since 1969. The Green Bay bills were printed in 1934. "The bills had been in our vault so long that many of us were sad to see them go, but we're glad to know that historic bills will be properly preserved," said Green Bay branch manager Carrie Liebhauser. |
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Posted: 3/9/2006 4:28:29 AM EDT
[#1]
Don't worry, once run away inflation hits, the new ones they print will be used to buy a soda
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Posted: 3/9/2006 4:32:44 AM EDT
[#2]
Two words: Weimar Republic.  From the inflationary period. 1000 mark note, with one billion marks overprinted in red. You had to at various points use a wheelbarrow of them to buy a loaf of bread. 
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Posted: 3/9/2006 4:36:13 AM EDT
[#3]
Correct me if I'm wrong but since our monay is no longer based off the gold standard we could litteraly print however much of it we want because technically it's not worth a damned thing right?
ETA: Just what is it based on now???  
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Posted: 3/9/2006 4:40:03 AM EDT
[#4]
The dead persons family exchanged it for face value ???
Seems to me a rare piece of currency like that would fetch at least twice the face value,especially from the bank who's founder is on the face of it. |
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Posted: 3/9/2006 4:42:53 AM EDT
[#5]
I'd use it.
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Posted: 3/9/2006 4:46:54 AM EDT
[#6]
It's based on the "full faith & credit of the USA" IE: We will take everything you own to pay that debt Google "Fiat Money", or better yet, get the book "Creature from Jekyll Island" for an explanation of the 'Federal Reserve' (which is neither Federal, nor a Reserve) |
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Posted: 3/9/2006 4:49:02 AM EDT
[#7]
The woman's family exchanged the currency at face value
WTF? They must be loaded and justed wanted the bills to be safe. |
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Posted: 3/9/2006 4:49:31 AM EDT
[#8]
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Posted: 3/9/2006 4:49:54 AM EDT
[#9]
+1,000 on the book!! |
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Posted: 3/9/2006 4:49:54 AM EDT
[#10]
A $10,000 bill with serial number 1.
It would have taken way more than $10,000 to get it from my greedy ass. |
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Posted: 3/9/2006 4:51:09 AM EDT
[#11]
Probably 100 times more than face value. Put that thing up on Ebay and see how rediculous it could really get. |
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Posted: 3/9/2006 5:11:00 AM EDT
[#12]
It's based on "what its worth" to put it simply. If you printed more money, the "Economy" would realize their was more money available, so prices would go up because there are only so many goods and so many dollars. Milk would cost $10.00/gallon. Houses would suddenly cost $750,000 in the midwest. Rush Limbaugh occasionally discusses something similar when discussing minimum wage. If $7.50 is a good wage, $10.00 is probably better. And $100/hour is even better. But, with minimum skill workers making $4000/week, the cost of everything will rise because there will quite suddenly be a higher demand for these items because of the large amount of cash in the economy. Just remember, nothing occurs without affecting something else. |
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Posted: 3/9/2006 5:14:43 AM EDT
[#13]
Exactly what I was thinking, they got seriously ripped off. I thought that bill was worth in the neighborhood of 50k or more |
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Posted: 3/9/2006 5:19:23 AM EDT
[#14]
+1 Morons |
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Posted: 3/9/2006 5:26:01 AM EDT
[#15]
I'd love to take one of those to buy a cup of coffee. "Got change for a 10,000?"
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Posted: 3/9/2006 5:26:23 AM EDT
[#16]
No kidding, just think of the guns and ammo |
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Posted: 3/9/2006 5:29:46 AM EDT
[#17]
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Posted: 3/9/2006 5:35:31 AM EDT
[#18]
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Posted: 3/9/2006 5:43:08 AM EDT
[#19]
Most likley the big nuts at headquarters want it in their grubby little hands rather than the people in the branch
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Posted: 3/9/2006 5:44:41 AM EDT
[#20]
Is this a good thing or bad, and just why did we leave the god standard anyhow?? |
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Posted: 3/9/2006 5:46:32 AM EDT
[#21]
invest in gold
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Posted: 3/9/2006 5:50:55 AM EDT
[#22]
Yeah I figure even if civilization falls apart those with gold will be far better off. What about silver and platinum, are they as good as gold to invest in? |
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Posted: 3/9/2006 5:51:01 AM EDT
[#23]
Yup, about $143K in today's dollars. |
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Posted: 3/9/2006 5:52:11 AM EDT
[#24]
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Posted: 3/9/2006 5:52:51 AM EDT
[#25]
And those dumbasses traded it for face value... I don't care how rich you are that's just stoopid!
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Posted: 3/9/2006 5:58:33 AM EDT
[#26]
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Posted: 3/9/2006 6:02:15 AM EDT
[#27]
i'd love to do some tpe of website about stuff like that...with thoughts from the people involved about how they made their decisions. 'did you know the bill might bring 10x face value at auction? did anyone from chase offer more?' etc. and track the stories over time. would be nice to include the guy who found a minty thompson in his wall and turned it into police. and see what he has to say if an amnesty is ever granted again. |
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Posted: 3/9/2006 6:04:46 AM EDT
[#28]
+1 |
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Posted: 3/9/2006 6:05:29 AM EDT
[#29]
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Posted: 3/9/2006 6:06:55 AM EDT
[#30]
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Posted: 3/9/2006 6:14:01 AM EDT
[#31]
I agree. What the fuck were they thinking? "Historical Significance" my ass. |
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Posted: 3/9/2006 6:44:43 AM EDT
[#32]
That is exactly what they are doing. "Hey Jack - President Bush just pledge a billion dollars for hurricane relief. Crank up the printing press!" What is our currency based on now? Without sugarcoating it - Faith.
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Posted: 3/9/2006 6:50:22 AM EDT
[#33]
Actually, someone from the Treasury gets authorization for debt. They walk over to the Federal Reserve, hand them the authorization. Fed Res guy pulls out a check book, writes a check for $1,000,000,000. That check is deposited, and the money goes into the system. MOst of it will be electronic. Due to the money multiiplier effect, that one billion will become about 100 billion in the marketplace. Now, the Fed wrote a check, right? Well the check is just that - there is no account, no money, no anything - that $1 billion came from thin air, and is multiplied into $100 billion - from nothingness. |
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Posted: 3/9/2006 7:00:50 AM EDT
[#34]
Scary... |
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Posted: 3/9/2006 9:40:33 AM EDT
[#35]
If I am remembering right, the last $10K bill that got public-auctioned went for $47,000.
~ |
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