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Topic: Question about "stolen" notes at banks.  (Read 7871 times)
d_polo
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« on: December 07, 2006, 01:41:00 pm »

I remember in the past, there were several times when I visited my local banks, they had a lot of older type notes. But what is strange is, there were several months where this one bank kept getting tons of older style banknotes, mostly the 1954 series and some multicolored ones. When I bought the notes, many were in uncirculated, sequenced serial, but.... many of the notes had dog-ears, folded heavily on the corners on 1 to 3 corners of the notes. Some had a deep middle fold down the center. These folds were not your average folds, they were folded very deeply where the paper was broken, like they folded it, then ran a finger nail over the crease several times to make if deep and permanent. Some notes were crumpled, but otherwise new. Basically it looked like somebody tried to make UNC collector notes look like they were circulated, but they didn't have the natural wear of circulated notes and looked unnatural in appearance. I suspect, somebody was stealing or taking the notes from somebody's collection, then tried to make the notes look used before dumping them off at the bank. Or somebody was getting rid of their older notes and ruining them on purpose by creasing them before cashing them in so nobody else could collect the notes. Also these notes looked too clean, no marks, smudges, dirt, grime, edges too sharp and clean, no egde wear, wallet folds, nothing. Notes were bright and vibrant coloers, deep embossing, etc.. They basically were perfect UNC notes, that somebody ran a few creases on each note mostly at the corners and turned into the bank. Remember,a lot of these notes were in sequential order too. I just think it looked suspicious. Anybody have thoughts on this?
« Last Edit: December 07, 2006, 01:42:19 pm by d_polo »
venga50
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« Reply #1 on: December 07, 2006, 09:48:41 pm »

Quote
Or somebody was getting rid of their older notes and ruining them on purpose by creasing them before cashing them in so nobody else could collect the notes.
This is a possibility.  I'm guilty of doing that with the 1986 $2 notes I ordered from the BofC just before the $2 coin was introduced.  I ordered 400 notes, picked the best 100 and deposited the remaining 300 at my bank, but not before creasing them.  I figured, I paid a premium for these 300 notes, why should I let someone get them for face value AND increase the supply of UNC notes to compete with my own?  Absurd, I know now, because there will always be an ample supply of these notes, just like the 1954, 1967 and 1973 $1 notes.

X-Savior
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« Reply #2 on: December 08, 2006, 05:09:13 am »

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but not before creasing them.

This is actually "Normal" procedure with Brick Searchers. It is almost a courtesy so other searchers will not be given "Uncirculated" notes that are actually the throw backs from another searcher. This procedure is commonly refered to as "Burning" the notes. ::)

As for Venga's comments. It does seem REALLY strange. I also feel the same as you, most likely stolen notes or someone got them with an estate and knew nothing about them. The individual would try and make the notes seem circulated so they would not be questioned as to WHY the notes looked so new (Thinking people would think they are fakes or something).

Just my Speculation....  ;)

« Last Edit: December 08, 2006, 05:09:44 am by X-Savior »

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