4 ms·

I'm shocked someone would pay $500 for an erroneously cut $1 bill.

by rufugee 2y ago

bdcravens 2y ago
People will pay extra for currency that has zero errors, and only an interesting serial number.
- deleted 2y ago
  [deleted]
- nxobject 2y ago
  To wit: the Mint will also sell you in line with Chinese numerology collectible bills with “777”s or “888”s in their SNs with a decorative envelope. Bless the marketing exec who’s finding nontraditional markets for collectible currency.
  - thaumasiotes 2y ago
    > the Mint will also sell you in line with Chinese numerology collectible bills with “777”s or “888”s in their SNs For Chinese numerology, you'd want 666.
    - indrora 2y ago
      Sevens are a massive number in Chinese numerology: The 7 parts (yin/yang/metals), the 7 steps, 7 captures, etc. Eights are symbols of prosperity, wealth, generosity, good fortune in business, etc. Six is a kinda useless number for money -- Smoothness and whatnot are less for money and more for one's tongue. You'd name a wine after a six (I've seen "Dice Wine" referring to 6-sided dice) but not look for it in bills
      - thaumasiotes 2y ago
        Well, https://hsbc.banklocationmaps.com/en/chn/shanghai https://hsbc.banklocationmaps.com/en/chn/shanghai only lists one branch at a street address of 666, and that one is really just sharing the address of the commercial center where it's located, but that still seems like enough for this point. 8 is heavily represented. 6 is a runner-up. 7 doesn't appear to be significant in this context. Consider the branch phone numbers: 3888 3888 3888 8468 3888 8900 3888 1200 6279 8582 3888 3111 3888 1318 3888 1188 3888 6455 3888 8618 3888 8688 3888 1218 3888 6388 There is technically one 7 in there, but it seems clear that the bank would have preferred not to have it. Counting only the second halves, 8 is overwhelmingly popular, so is 1 (for reasons I don't know), 6 is only barely ahead of what's typical, but still in third place, and 7 doesn't even exist.
      - tmtvl 2y ago
        For those who are interested: the Chinese character for 8 is a pair of downward lines, close together at the top, far apart at the bottom. Looks a bit like / \. The idea behind it, as far as I know, is that it represents things growing larger, which is why it is of interest where wealth is concerned.
        thaumasiotes 2y ago
        > Looks a bit like / \ You can just display the character, 八.
bufferoverflow 2y ago
Just because it's listed at $500, doesn't mean someone will pay that.
- tartoran 2y ago
  You underestimate what people pay for. I fall into the same trap though.
- bityard 2y ago
  The sold listings for "miscut dollar bill" would beg to differ. I am _always_ and _continually_ surprised at what people will pay for things. Literally _nobody_ scaled back their consumption or purchasing during post-COVID inflation. Home prices are sky-high but it's still a sellers market because buyers are scared that prices will jump again and instead of simply being a difficult purchase, maybe next year it will be an impossible one. Must be easy money being a realtor right now. Every time I have sold something on Craigslist or FB Marketplace in the last few years, I list it 25% higher than what I'd actually pay if I were buying it myself and expect to be negotiated down to something sensible. So far, excluding the low-effort moronic "what's your lowest price" texts, exactly ZERO buyers have tried to negotiate down. I have come to the conclusion that most people simply have no upper limit to what they will pay for something they want. A few will scoff and turn away. Some will complain about it on the Internet, but most will buy it anyway. I don't run a business but if I did, this would be my golden rule of pricing.
  - lesuorac 2y ago
    I think people have an upper limit. Sure, $7 eggs might be below the limit but if you want into a grocery store because you wanted to make french toast and the eggs are $25 are you buying them or just eating something else? I would agree that the upper limit is above what the common price is though. This should really be a good thing because you want people to consume goods; that makes the economy go in a circle. For necessities like food and gas (energy) the government goes out of its way to subsidize them. I just think most people don't feel like putting in the work to figure out what a clearing price for an action would be when selling not-auctioned items. This is where things like RealPage get dangerous because it will find the best price and that best price is not what the median people can afford.
gosub100 2y ago
People have such a fascination with anything "rare". It's such a meme on ebay how often the word "RARE" is used.

I'm shocked someone would pay $500 for an erroneously cut $1 bill.

bdcravens 2y ago

People will pay extra for currency that has zero errors, and only an interesting serial number.

deleted 2y ago
[deleted]
nxobject 2y ago
To wit: the Mint will also sell you in line with Chinese numerology collectible bills with “777”s or “888”s in their SNs with a decorative envelope. Bless the marketing exec who’s finding nontraditional markets for collectible currency.
- thaumasiotes 2y ago
  > the Mint will also sell you in line with Chinese numerology collectible bills with “777”s or “888”s in their SNs For Chinese numerology, you'd want 666.
  - indrora 2y ago
    Sevens are a massive number in Chinese numerology: The 7 parts (yin/yang/metals), the 7 steps, 7 captures, etc. Eights are symbols of prosperity, wealth, generosity, good fortune in business, etc. Six is a kinda useless number for money -- Smoothness and whatnot are less for money and more for one's tongue. You'd name a wine after a six (I've seen "Dice Wine" referring to 6-sided dice) but not look for it in bills
    - thaumasiotes 2y ago
      Well, https://hsbc.banklocationmaps.com/en/chn/shanghai https://hsbc.banklocationmaps.com/en/chn/shanghai only lists one branch at a street address of 666, and that one is really just sharing the address of the commercial center where it's located, but that still seems like enough for this point. 8 is heavily represented. 6 is a runner-up. 7 doesn't appear to be significant in this context. Consider the branch phone numbers: 3888 3888 3888 8468 3888 8900 3888 1200 6279 8582 3888 3111 3888 1318 3888 1188 3888 6455 3888 8618 3888 8688 3888 1218 3888 6388 There is technically one 7 in there, but it seems clear that the bank would have preferred not to have it. Counting only the second halves, 8 is overwhelmingly popular, so is 1 (for reasons I don't know), 6 is only barely ahead of what's typical, but still in third place, and 7 doesn't even exist.
    - tmtvl 2y ago
      For those who are interested: the Chinese character for 8 is a pair of downward lines, close together at the top, far apart at the bottom. Looks a bit like / \. The idea behind it, as far as I know, is that it represents things growing larger, which is why it is of interest where wealth is concerned.
      - thaumasiotes 2y ago
        > Looks a bit like / \ You can just display the character, 八.

bufferoverflow 2y ago

Just because it's listed at $500, doesn't mean someone will pay that.

tartoran 2y ago
You underestimate what people pay for. I fall into the same trap though.
bityard 2y ago
The sold listings for "miscut dollar bill" would beg to differ. I am _always_ and _continually_ surprised at what people will pay for things. Literally _nobody_ scaled back their consumption or purchasing during post-COVID inflation. Home prices are sky-high but it's still a sellers market because buyers are scared that prices will jump again and instead of simply being a difficult purchase, maybe next year it will be an impossible one. Must be easy money being a realtor right now. Every time I have sold something on Craigslist or FB Marketplace in the last few years, I list it 25% higher than what I'd actually pay if I were buying it myself and expect to be negotiated down to something sensible. So far, excluding the low-effort moronic "what's your lowest price" texts, exactly ZERO buyers have tried to negotiate down. I have come to the conclusion that most people simply have no upper limit to what they will pay for something they want. A few will scoff and turn away. Some will complain about it on the Internet, but most will buy it anyway. I don't run a business but if I did, this would be my golden rule of pricing.
- lesuorac 2y ago
  I think people have an upper limit. Sure, $7 eggs might be below the limit but if you want into a grocery store because you wanted to make french toast and the eggs are $25 are you buying them or just eating something else? I would agree that the upper limit is above what the common price is though. This should really be a good thing because you want people to consume goods; that makes the economy go in a circle. For necessities like food and gas (energy) the government goes out of its way to subsidize them. I just think most people don't feel like putting in the work to figure out what a clearing price for an action would be when selling not-auctioned items. This is where things like RealPage get dangerous because it will find the best price and that best price is not what the median people can afford.

gosub100 2y ago

People have such a fascination with anything "rare". It's such a meme on ebay how often the word "RARE" is used.