4 ms·
Maybe a silly question... but what prevents counterfeiters from making false copies of the old bill if the new bill is harder to counterfeit?
by ucha 13y ago
Maybe a silly question... but what prevents counterfeiters from making false copies of the old bill if the new bill is harder to counterfeit?
- kryptiskt 13y agoPresumably the old one will be withdrawn from circulation at a later date when most old bills has been vacuumed up. The Swedish Central Bank will stop accepting a couple of older bills at the end of this year, for example.
- ars 13y agoNo. Old US bills are valid forever.
- freehunter 13y agoYes, they can be spent forever. But when the reach the bank and get sent to the federal reserve, they can be withdrawn and replaced with newer bills. You'll be able to keep spending the old ones you have forever, but once you've spent them and they hit the Fed, they'll be removed from circulation.
- PeterisP 13y agoAfter some cut-off time all the moneyhandlers will send those old bills to Fed to be shredded and exchanged for new ones, instead of releasing them back in circulation - exactly how it's happening right now with the pre-1996 bills.
- ars 13y agoAt first nothing. After some time old bills will be rarely seen so anyone using them will get extra scrutiny. Banks will always accept old bills, but stores (and private parties) won't.
- mcpherrinm 13y agoPresumably the old one will be taken out of circulation as they go through banks, so in a few years anyone with a large quantity of "old" bills will be heavily scrutinized for fakes. Canada's old bills had a pretty big forgery problem, and nobody will accept old 50s/100s.
- _delirium 13y agoThis is particularly true outside the US. In much of Asia, banks (and anyone else who might accept dollars) strongly prefer crisp, new US bills, and heavily scrutinize or reject old bills.
- nerfhammer 13y agoUh, hi, I'd like to deposit $850,000. Cash. Yes, they're almost all pre-1996 $100 bills.... No, it's no problem, I can wait..