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favorite "money"

chipchik
chipchik
Apr 10, 2011
3:21pm
Block User
Quote
Originally posted by: MoneyLA
that thousand dollar bill is worth a LOT of money. Even in bad condition collectors will pay a premium for it.

Every time I visit a cage in Vegas I ask if they have any 500s or 1000s. Of course the answer is "no" but sometimes the cage employee will smile and say something like "I wish." Once an employee at a casino told me that a 1000 did come in and the tellers have an agreement about "buying it" and then selling it and splitting the profit.


I doubt casinos are in the habit of letting the cashiers change the money to their benefit.


MoneyLA
MoneyLA
Apr 10, 2011
3:27pm
Block User
whatever you say, chip.
billryan
billryan
Apr 10, 2011
3:54pm
Block User
Quote
Originally posted by: chipchik
Quote
Originally posted by: MoneyLA
that thousand dollar bill is worth a LOT of money. Even in bad condition collectors will pay a premium for it.

Every time I visit a cage in Vegas I ask if they have any 500s or 1000s. Of course the answer is "no" but sometimes the cage employee will smile and say something like "I wish." Once an employee at a casino told me that a 1000 did come in and the tellers have an agreement about "buying it" and then selling it and splitting the profit.


I doubt casinos are in the habit of letting the cashiers change the money to their benefit.


They are. My friend in AC pays a small premium to cashiers that alert him to Silver certificates and other oddball currency, which he replaces with his own cash. Its all done with the approval of his superiors.
RoadTrip
RoadTrip
Apr 10, 2011
4:25pm
Block User
Quote
Originally posted by: MoneyLA
Yep, I stand corrected. 10K bills were once in circulation. and Benny did have a stash which according to wikipedia was sold??

https://en.wikipedia.org/wiki/Large_denominations_of_United_States_currency


Becky Binion sold the bills prior to selling Binion's.

Don't remember all the details, but she managed to gain control from her brother, he went to Tunica and opened a Binion's there.

She was just "not good" as an owner, ended up with financial difficulties. Even refused to honor some "old" $5K chips for redemption that Stupak brought in. Don't know what happened with that "case" either.

Sold Binion's. Including the World Series of Poker.

:::shrug:::

billryan
billryan
Apr 10, 2011
4:53pm
Block User
I think I read that several of the $10,000 bills from Binions turned out to be fake.
$100,000 bills were intended to be used only for bank to bank transactions, but there are a few rumoured to be in irculation to the general public. I had a 1967 Black book that mentions this.
MoneyLA
MoneyLA
Apr 10, 2011
6:27pm
Block User
I was surprised to find out that there are some in collectors hands. I looked on the web for a few minutes after I was told about Binions but saw no mention of any being counterfeits. But I did see info about some being in the public sector. Apparently they were all recalled about the time that FDR called in gold because the 10K bills were "gold backed" and gold was no longer being redeemed.

and just in case you would like a $10k note from the "Binion hoard" I found one for sale:

https://www.thecurrencyhouse.com/10000.html
billryan
billryan
Apr 11, 2011
12:35am
Block User
I thought that the government started issuing the large denomination bills because there were so many people turning in gold.
RoadTrip
RoadTrip
Apr 11, 2011
12:53am
Block User
Quote
Originally posted by: MoneyLA
I was surprised to find out that there are some in collectors hands. I looked on the web for a few minutes after I was told about Binions but saw no mention of any being counterfeits. But I did see info about some being in the public sector. Apparently they were all recalled about the time that FDR called in gold because the 10K bills were "gold backed" and gold was no longer being redeemed.

and just in case you would like a $10k note from the "Binion hoard" I found one for sale:

https://www.thecurrencyhouse.com/10000.html



Interesting that they are being offered for sale at LESS THAN FACE value! One at $98,500, the other at $90,000. (Not a Binion's note)

I'm even more curious at this moment if they are no longer technically "legal tender".

Seems an "advantage play" could be brewing.

BobOrme
BobOrme
Apr 11, 2011
2:03am
Block User
Quote
Originally posted by: RoadTrip
Quote
Originally posted by: MoneyLA
I was surprised to find out that there are some in collectors hands. I looked on the web for a few minutes after I was told about Binions but saw no mention of any being counterfeits. But I did see info about some being in the public sector. Apparently they were all recalled about the time that FDR called in gold because the 10K bills were "gold backed" and gold was no longer being redeemed.

and just in case you would like a $10k note from the "Binion hoard" I found one for sale:

https://www.thecurrencyhouse.com/10000.html



Interesting that they are being offered for sale at LESS THAN FACE value! One at $98,500, the other at $90,000. (Not a Binion's note)

I'm even more curious at this moment if they are no longer technically "legal tender".

Seems an "advantage play" could be brewing.

That must be some kind of "new math". A $10,000 bill being offered for sale at $90,000 or $98,500 is not less than face value...

RoadTrip
RoadTrip
Apr 11, 2011
2:12am
Block User
Quote
Originally posted by: BobOrme
Quote
Originally posted by: RoadTrip
Quote
Originally posted by: MoneyLA
I was surprised to find out that there are some in collectors hands. I looked on the web for a few minutes after I was told about Binions but saw no mention of any being counterfeits. But I did see info about some being in the public sector. Apparently they were all recalled about the time that FDR called in gold because the 10K bills were "gold backed" and gold was no longer being redeemed.

and just in case you would like a $10k note from the "Binion hoard" I found one for sale:

https://www.thecurrencyhouse.com/10000.html



Interesting that they are being offered for sale at LESS THAN FACE value! One at $98,500, the other at $90,000. (Not a Binion's note)

I'm even more curious at this moment if they are no longer technically "legal tender".

Seems an "advantage play" could be brewing.

That must be some kind of "new math". A $10,000 bill being offered for sale at $90,000 or $98,500 is not less than face value...


OOOPS.....

That's what happens when I take stupid pills early in the morning. Too many zeros confuse me.

MY BAD. I apologize.

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