CPM Forum

Canadian Notes => Show and Tell => Topic started by: Gary_T on April 05, 2019, 04:24:43 pm

Title: My only $500 note
Post by: Gary_T on April 05, 2019, 04:24:43 pm
A picture of my only $500 note.
Anyone else have this kind of stuff?
I got this from the fonder of this site Paul Wallis
Title: Re: My only $500 note
Post by: wagnert89 on April 05, 2019, 09:43:21 pm
Nice $500, more affordable than the real one!  I have these wallets that have bills like $50  and $100 as the design.  Not sure if I would use it in public, but it's still cool
Title: Re: My only $500 note
Post by: Dean on October 14, 2019, 01:45:19 pm
I own a French back and face proof pair that I bought many moons ago and overpaid for.  It's probably the closest I'll ever get to owning a circulation issue $500 note so I still have it.  You don't lose unless you sell, right?
Title: Re: My only $500 note
Post by: docstrange on October 14, 2019, 06:16:04 pm
Any way you could post a photo of it? Would love to see it
Title: Re: My only $500 note
Post by: AL-Bob on October 14, 2019, 09:53:15 pm
I own a French back and face proof pair that I bought many moons ago and overpaid for.  It's probably the closest I'll ever get to owning a circulation issue $500 note so I still have it.  You don't lose unless you sell, right?

Don't know what you paid but I doubt you overpaid for it.  Those are extremely popular even as proofs.  We'll just see what the set sells for in the coming Torex auction and you can tell us again if you still think you overpaid for yours.
Title: Re: My only $500 note
Post by: wagnert89 on October 27, 2019, 10:59:06 am

Speaking of the $500 proof, the French Back Proof catalog number is JMZ in the 2019 catalog?  What does JMZ mean or is that a typo?
Title: Re: My only $500 note
Post by: walktothewater on October 27, 2019, 02:19:59 pm
Good eye.  I see it is on P224 & appears on the 30th edition too.  I am wondering if it was an old annotation/code for an old auction since it lists for $2,600 in UNC (before the specimen/proofs were given a Charlton code) & it just never got flagged?  Probably should post this on the "GPM 32 revisions" thread.
Title: Re: My only $500 note
Post by: wagnert89 on October 27, 2019, 07:42:55 pm
Ok thank you for confirming that I am not loosing my mind  :D

Where is the catelogue thread page because  I have posted there before but can not seem to find it.
Title: Re: My only $500 note
Post by: Mike67 on December 22, 2019, 06:21:30 pm
It's the only 500$ bill i can afford !  :D
Title: Re: My only $500 note
Post by: AJG on January 29, 2020, 01:14:37 pm
Aren't $500 bills going to lose legal tender status in 2021, and if so, will they lose their collectors' value?

Makes me wonder if the Charlton Catalogue for 2021 will remove the price list for the defunct banknotes/denominations, implying they are only worth face value to redeem at a bank?
Title: Re: My only $500 note
Post by: friedsquid on January 29, 2020, 05:54:18 pm
Makes me wonder if the Charlton Catalogue for 2021 will remove the price list for the defunct banknotes/denominations, implying they are only worth face value to redeem at a bank?

Personally I do not see this happening.

Please someone correct me if I am wrong, but my understanding is that a specimen note
In any denomination is not worth face value?????
(I am not talking about collectible value)
Title: Re: My only $500 note
Post by: Seth on January 29, 2020, 07:38:17 pm
Aren't $500 bills going to lose legal tender status in 2021, and if so, will they lose their collectors' value?

Makes me wonder if the Charlton Catalogue for 2021 will remove the price list for the defunct banknotes/denominations, implying they are only worth face value to redeem at a bank?

Legal tender status means next to nothing. The "big" announcement that old notes will lose their legal tender status makes no real difference to either their cashable value or their collector value. Not to worry.
Title: Re: My only $500 note
Post by: Beatrix on January 30, 2020, 11:39:18 am
Legal tender is a term that only refers to the paying of debts. As I understand it, if I owe you $500 and I choose to pay it by giving you a 500 dollar bill, you can't reject it and force me to pay a different way, because I offered you legal tender. Once it loses that status, you CAN legally tell me that I have to pay you back a different way.

That's all it means. Nothing about how much it's worth to a collector, or a bank for that matter.
Title: Re: My only $500 note
Post by: friedsquid on January 30, 2020, 06:49:37 pm

 As I understand it, if I owe you $500 and I choose to pay it by giving you a 500 dollar bill, you can't reject it and force me to pay a different way, because I offered you legal tender.

Correct me if I am wrong, but since many stores, and other businesses refuse to Accept
$100 bills and some even $50 bills even though they are legal tender doesn’t agree with your comment.
This also seems to apply to paying for something with an excessive amount of
coinage.
Try going into a gas bar and give them
30 bucks in nickels... 😉 good luck
Title: Re: My only $500 note
Post by: Seth on February 01, 2020, 12:29:52 am
Legal tender is a term that only refers to the paying of debts. As I understand it, if I owe you $500 and I choose to pay it by giving you a 500 dollar bill, you can't reject it and force me to pay a different way, because I offered you legal tender.

No. "Legal tender" does not have that definition in Canada. You can read the definition here, it includes nothing about anyone being required to accept "legal tender" for a payment: https://laws-lois.justice.gc.ca/eng/acts/c-52/page-1.html#h-142377
It basically means "officially approved for use", not "required for use". That's why I said that the term is essentially meaningless, because people and institutions can use what ever is mutually acceptable, whether or not it is officially approved.

Title: Re: My only $500 note
Post by: Dean on February 02, 2020, 04:10:42 pm
No. "Legal tender" does not have that definition in Canada. You can read the definition here, it includes nothing about anyone being required to accept "legal tender" for a payment: https://laws-lois.justice.gc.ca/eng/acts/c-52/page-1.html#h-142377
It basically means "officially approved for use", not "required for use". That's why I said that the term is essentially meaningless, because people and institutions can use what ever is mutually acceptable, whether or not it is officially approved.

I remember reading somewhere a long time ago that coins are rolled in fixed amounts because no merchant is required to accept more than that in a single transaction.  I remember many years ago when the TTC went on strike, passengers were advised to pay their fares in pennies as a form of protest.  You should have seen those fare boxes chock full of coppers!  LOL.
Title: Re: My only $500 note
Post by: Beatrix on February 03, 2020, 10:24:12 am
Ah, interesting. Thanks for the corrections.