A lot of people let cool notes slip by.

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I.E. so many notes that are collectable are well circulated before they fall into the hands of somebody who knows they have some value or is somewhat odd/rare note. For example, million notes, solid digit notes, ladder notes, printing errors, cutting errors. Some notes have such obvious errors or very unique serial numbers, nobody seems to bother to keep them, they'd rather just spend the note, rather than bother to keep it or ask a coin dealer how much it might be worth. Also, I bet most tellers wouldn't keep any notes they receive as multilated, even if some were 1935 or 1937 notes, especially in lower grades and also if the teller was somebody younger. Seems younger tellers aren't interested in any older type notes, they might come across and just ship them out.

Well the tellers are not 'allowed' to keep the notes. It is bank policy that the discontinued notes are to be mutilated, though that sometimes is not the case. Not many people bother to keep the million notes or solid digit notes etc, since they don't look at the serial number. I know what I wasn't a paper money enthusiast I didn't bother to look at a serial number and I wouldn't have ever dreamt that there were such premiums placed on some of the notes out there. But I agree, so many rare notes pass through thousands of hands before they reach a collector. For instance the BERs/BELs

I aggree with Oli, the problem is that the majority of bank note handlers do not know that there are some prefixes or serial numbers worht a lot more than others. Most just don't care to get informed

The only thing I can say to this, is that most of the people I speak to about collecting notes as a hobby think I'm bananas. As mentioned in a previous post, most don't even look. I know I didn't before (wish I did). Even when it is suggested to them to spend a minute to check serial numbers for RADARs or solid numbers, most people couldn't be bothered.

On a more positive note, this makes those notes rarer and way more valuable when they do get in the hand of a collector. Supply and demand.

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I bet most tellers wouldn't keep any notes they receive as multilated, even if some were 1935 or 1937 notes

 
Bank tellers are directed by management to set aside such notes for destruction (as Oli stated earlier).  It wouldn't surprise me that if the teller was an established employee (and known collector) and requested to keep it, I'm sure the management would allow it occasionally.  We've all heard stories of such.  Why would they bother to keep a mutilated note when most notes aren't collectible?  Most collectors know that the 37 H/A or Osborne/Towers signatures are "keepers" no matter how poor.

But as far as cashiers/tellers getting notes from prior to -1954 is rare indeed.   We had a thread discussing using your old (circulated) $2.00 or 1973 $1.00 and many members voiced their amusement how many younger generation often consult management whether the note was legal tender.  Such bewilderment happens when the note seen for the first time has been printed before one was born.  My point is that 99% of notes prior to 1986 are likely on eBay, destroyed, locked up in safety deposit boxes, or in your collections.  

example, million notes, solid digit notes, ladder notes, printing errors, cutting errors. Some notes have such obvious errors or very unique serial numbers, nobody seems to bother to keep them, they'd rather just spend the note, rather than bother to keep i

Probably 95% of that 99% are pretty common.  I'm sure the odd collectible note (like 1 out of 100) does pass through many hands until destruction (esp:ERRORS I've got a well worn 1954 $1 with no serial numbers on it) but even it was eventually "found."  I even bought (found) a regular G/R $2 note from a dealer (who didn't mark it as such). . "Eyevet" actually bought a G/R $2 test note off eBay for the price of a regular issue (no one else seemed to notice!)  Oli got a $100 AJX for regular price...so a collector occasionally will make a great "find" amongst notes already kept aside.  These "finds" are the exceptions of course.  Just check out eBay to see how many common (run of the mill) notes are surfacing from safety deposit box or hoards these days.

But I think the likelihood of a "cool note slipping by" happens less and less with today's currency (and now eBay).  I think now that there are so many more collectors, more dealers, and more brick searchers, the chances of solid radars passing into circulation are less too.  

You are correct in terms of the old Journey $10's however.  Rare (03 BER/BEL/BEK/BEP) $10 prefixes are likely still slipping into oblivion (if they haven't already been destroyed).  No one, not even collectors, realized how rare they were when they came out.  That's why the BV's are defying gravity!  Rare (short issue) prefixes will likely elude a lot of us!  I too vainly try to warn my family (or even friends who dare to listen) that there are these rare notes out there...but most think I'm ...well...
when discussing

collecting notes as a hobby 'they' think I'm bananas

SO TRUE!! Sometimes its best just to keep it to yourself!

Actually there are a couple of banks that re-circulate older banknotes, BMO and CIBC. My local BMO branch gets older type notes on a regular basis, mostly 1954, multicolored series. I also found lots of rare notes. I  received a 1975 AJX $100 VF, a Bird series $50 EHX replacement note EF/AU, a 1974 $2 RS test note VF, lots of multicolored 1979 $20 "516" notes in VF, one EF. A 1979 Lawson/Bouey $20 "510" replacement AU/UNC. Lots of 1954 Devil face $50s, $20s in VF.  Two 1971 $10 Lawson/Bouey EET notes VF/EF. And lots of common older notes, a lot of 1975 $50s, $1000s, a few 1954 $1000 in AU/UNC. Now most of these notes would have gone back out to bank customers or sent away. Most of the tellers wouldn't know what they had, so they just let me know when stuff comes in. So I'm pretty happy. Built half my collection from various banks. Also got some girl to look out for older Canadian Tire money when she worked at the Gas Bar and got lots of cool stuff. She even found a UNC 25 cent CDN Tire money coupon that was an error note, was missing the whole litho background. Just had the steel engraved portrait and border. So it pays to have somebody on the inside.

Probably 95% of that 99% are pretty common.  I'm sure the odd collectible note (like 1 out of 100) does pass through many hands until destruction (esp:ERRORS I've got a well worn 1954 $1 with no serial numbers on it) but even it was eventually "found."  I even bought (found) a regular G/R $2 note from a dealer (who didn't mark it as such). . "Eyevet" actually bought a G/R $2 test note off eBay for the price of a regular issue (no one else seemed to notice!)  Oli got a $100 AJX for regular price...so a collector occasionally will make a great "find" amongst notes already kept aside.  These "finds" are the exceptions of course.  Just check out eBay to see how many common (run of the mill) notes are surfacing from safety deposit box or hoards these days.

But I think the likelihood of a "cool note slipping by" happens less and less with today's currency (and now eBay).  I think now that there are so many more collectors, more dealers, and more brick searchers, the chances of solid radars passing into circulation are less too.  

Thats true, i have found some good stuff on occasion, like an EVH no back plate number found in my change years back. Of course some good finds in stores as well, like a 1972 *CS in UNC priced as a regular issue UNC 1972 $5... And what a great deal!
I didn't know Eyevet owned a G/R test notes... congrats! You are probably the only owner of one such note.

My local BMO branch gets older type notes on a regular basis, mostly 1954, multicolored series. I also found lots of rare notes.

Whatever you do... don't move...as you're one lucky guy!

I have searched 1000's of circulated $10 and $5.00 and rarely pull out one ratty insert.  I remember finding one half disintegrated 2003 BEK after searching about 2500 notes.  I just threw my hands up in resignation and bought some circulated ones off Huds.  I have been very lucky in withdrawing 2 uncirculated $10 radars, but that is after making countless large withdrawals.  My mother once withdrew about twenty $20 (mixture of 1969/79) but they were all common as grass (and in poor shape).

I can quite honestly say that I always check my money, and even other people's money (when the occassion makes it acceptable) and its always a miss.  I also make it a habbit of changing high notes, breaking bills as often as possible to see if I get some lucky change.  It took me nearly a year to find my first radar.  That's why I will buy radars and appreciate their true rarity.  Typically I will buy inserts and rarer notes from collectors (even from this site) & in order to pay a slightly discounted price I'll buy bulk and sell the surplus.  I've never found my branch to be helpful at all.

1972 *CS in UNC priced as a regular issue UNC 1972 $5.

That's a sweet deal!

I think one of the reasons we see so many "special numbered" notes offered is because the collector is just dying to actually make a find, and designate a note as a keeper.. though I must admit my appreciation of numbers has expanded after all the futile attempts to find a rare note!