7 ms·

Older bills are worth face value in the US, why does anyone take a 30% discount on them?

• cesarb 10y ago
  They are worth face value in the US, but not outside of it. See for instance this question: https://travel.stackexchange.com/questions/25959/converting-older-united-states-dollar-bills https://travel.stackexchange.com/questions/25959/converting-... Instead of simply not accepting the bills, some places take a discount to offset the risk that they're fake. The older the bill, the greater the chance that it's a counterfeit.
  • ericd 10y ago
    Interesting, thanks for explaining. I thought it might be due to the risk of counterfeit, but I thought there must be some way of verifying still. Sounds like if there is, it's out of reach of many of the money changers.