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US Dollar Question...

northy124

northy124

macrumors 68020
Original poster
Nov 18, 2007
2,293
8
Hey guys,

This is going to sound stupid but I'd like to know if previous US Dollars are still in use as I know that they have been redesigned :)

I have $1 and $5 bills which I have had since 2001 (when we were supposed to go on a trip to the US but ended up not seeing as it was around 9/11) and I am going in Dec (I have been before just I was never able to find the safe I put them in lol) and would like to use them but I can't find any clear info on whether I can or not so I thought I'd here :)

Thanks in advance for any replies :)

Northy
 
You can still use them :)

I always get excited when I get an old 5, 10, or 20. They look so funny haha.

But yes, you can use them.
 
northy124 said:
Hey guys,

This is going to sound stupid but I'd like to know if previous US Dollars are still in use as I know that they have been redesigned :)

I have $1 and $5 bills which I have had since 2001 (when we were supposed to go on a trip to the US but ended up not seeing as it was around 9/11) and I am going in Dec (I have been before just I was never able to find the safe I put them in lol) and would like to use them but I can't find any clear info on whether I can or not so I thought I'd here :)
Click to expand...

No, not a stupid question. :)

The $1 dollar bill hasn't gotten the same makeover the $5 (and up) has gotten. No current plans for that, I understand. Part of the reason for the makeover for larger bills is to discourage counterfeiting, and it seems that generally speaking, the $1 bill is the least attractive counterfeiting target.

There's usually some small changes -- usually changes in signature of the Secretary of the Treasury or the Treasurer of the United States when people change office. On average, the Treasurer and the Secretary of the Treasury changes every 2-4 years. Both changed this year with the new presidential administration, though at different times.

You can use the current-size U.S. dollar bills all the way back to 1928 at face value, even today! (Though older pre-1960 bills are often worth more as collectibles.) Hope you enjoy your trip to this side of the pond.
 
mkrishnan said:
Now I saw someone with a US $2 bill the other day -- they put it in a tip jar... it's been a long time since I saw one of those. Although, actually, apparently, they're still actively being made, which I did not know.
Click to expand...

I got one the other day as well; interesting little thing. I'll put it away just because, but I know that they aren't rare either. A few years ago I got a silver certificate which was more of a thrill. It looks normal except the seals on it are blue instead of green. Cool little thing; that's in my collection as well.

It is my understanding that all money printed by the US government is still valid. So if you have a dollar from 1810 you could spend it like any other dollar. But that would be stupid because you could sell it to a collector for much more.
 
CylonGlitch said:
I got one the other day as well; interesting little thing. I'll put it away just because, but I know that they aren't rare either. A few years ago I got a silver certificate which was more of a thrill. It looks normal except the seals on it are blue instead of green. Cool little thing; that's in my collection as well.

It is my understanding that all money printed by the US government is still valid. So if you have a dollar from 1810 you could spend it like any other dollar. But that would be stupid because you could sell it to a collector for much more.
Click to expand...

My favorite Steve Wozniak story involves uncut sheets of $2 bills, Laser Safety Officer, and a U.S. Secret Service interrogation... I mean, interview., in Las Vegas. :D

http://www.woz.org/letters/general/78.html

Regarding legal tender U.S. paper currency, the Federal Reserve system will only honor bills made since 1928 if you try to spend it. Earlier than that, you can't spend it.

northy, some ideas -- if you like less common U.S. money, perhaps consider visiting a bank when in the country and seeing if they have these in stock:

- $2 bill
- Susan B. Anthony dollar coin
- Sacagawea dollar coin

All three are legal tender and still circulating, but not very common to see in average use. Which part of the U.S. are you going to be visiting? If it's Washington, D.C., you have a few additional interesting options such as visiting the BEP (Bureau of Engraving and Printing) for a tour to see the paper money being made and buying a small souvenir sheet of uncut $2 bills. If it's Philadelphia, you can take the self-guided U.S. Mint tour (the largest mint in the world) which is about a block or two from the Liberty Bell. They also have a small gift shop with various nice sets on sale.
 
electroshock said:
- Susan B. Anthony dollar coin
- Sacagawea dollar coin

All three are legal tender and still circulating, but not very common to see in average use.
Click to expand...

One easy place to get the Susies and Sacies: post office vending machines. You buy stamps from them with a $20, you will get change in dollar coins (although there is a built-in limit to how much change it will give.)

Mind you, I haven't bought stamps in this manner in some years, but I imagine this is still true.
 
electroshock said:
Regarding legal tender U.S. paper currency, the Federal Reserve system will only honor bills made since 1928 if you try to spend it. Earlier than that, you can't spend it.
Click to expand...

The Treasury department will buy back earlier ones at face value, you'd be dumb to do that but they are still legal tender.

From http://www.moneyfactory.gov/document.cfm/5/44/129
All outstanding United States Notes, which were issued in denominations of $1, $2, $5, $10, $20, $50, $100, $500, and $1,000, may be redeemed at face value by the U.S. Treasury Department. Payment would be made in the form of a Treasury check.
Click to expand...
http://www.moneyfactory.gov/document.cfm/5/44/124

In accordance with an Act of Congress, dated February 28, 1878, the Department of the Treasury issued to the public Silver Certificates which could be exchanged for silver dollars. On March 25, 1964, the Secretary of the Treasury announced that Silver Certificates would no longer be redeemable for silver dollars. Subsequently, another act of Congress dated June 24, 1967, provided that Silver Certificates could be exchanged for silver bullion for a period of one year, until June 24,1968. Even though silver certificates are no longer printed, those which remain outstanding are still legal tender and can be spent just like a Federal Reserve Note.
Click to expand...
 
electroshock said:
northy, some ideas -- if you like less common U.S. money, perhaps consider visiting a bank when in the country and seeing if they have these in stock:

- $2 bill
- Susan B. Anthony dollar coin
- Sacagawea dollar coin

All three are legal tender and still circulating, but not very common to see in average use. Which part of the U.S. are you going to be visiting? If it's Washington, D.C., you have a few additional interesting options such as visiting the BEP (Bureau of Engraving and Printing) for a tour to see the paper money being made and buying a small souvenir sheet of uncut $2 bills. If it's Philadelphia, you can take the self-guided U.S. Mint tour (the largest mint in the world) which is about a block or two from the Liberty Bell. They also have a small gift shop with various nice sets on sale.
Click to expand...
I only have the $1 and $5 from 2001, although I think somewhere I have a bunch of quarters with the States on the back of them instead of the eagle, I might get more of them (of different states) as they looked cool lol.

Although a $2 bill looks interesting :)
 
I'd always found it strange that American money is referred to as "bills" (we call them "notes" here). I just assumed that it was some sort of change along the same lines as color/colour, elevator/lift, etc. But when I went to the US a couple of months ago I was surprised to find "federal reserve note" printed on them. So, why "bills"?
 
electroshock said:
My favorite Steve Wozniak story involves uncut sheets of $2 bills, Laser Safety Officer, and a U.S. Secret Service interrogation... I mean, interview., in Las Vegas. :D

http://www.woz.org/letters/general/78.html

Regarding legal tender U.S. paper currency, the Federal Reserve system will only honor bills made since 1928 if you try to spend it. Earlier than that, you can't spend it.

northy, some ideas -- if you like less common U.S. money, perhaps consider visiting a bank when in the country and seeing if they have these in stock:

- $2 bill
- Susan B. Anthony dollar coin
- Sacagawea dollar coin

All three are legal tender and still circulating, but not very common to see in average use. Which part of the U.S. are you going to be visiting? If it's Washington, D.C., you have a few additional interesting options such as visiting the BEP (Bureau of Engraving and Printing) for a tour to see the paper money being made and buying a small souvenir sheet of uncut $2 bills. If it's Philadelphia, you can take the self-guided U.S. Mint tour (the largest mint in the world) which is about a block or two from the Liberty Bell. They also have a small gift shop with various nice sets on sale.
Click to expand...

Hell if you have a note that is authentic and printed prior to 1928 its still worth money to a collector but you're correct it has no legal tender face value to exchange for goods or services. if you have any though and you feel they are worthless go right ahead and send them to me :D

And thanks for the giggle along with fond memories, because your avatar reminded me of what we used to call Canadian currency back in the day. I loved collecting that mickey mouse money from across the border when my pop visited Vancouver BC
 
electroshock said:
...
northy, some ideas -- if you like less common U.S. money, perhaps consider visiting a bank when in the country and seeing if they have these in stock:

- $2 bill
- Susan B. Anthony dollar coin
- Sacagawea dollar coin

All three are legal tender and still circulating, but not very common to see in average use.
...
Click to expand...

The first time I saw a Sacajawea dollar coin, I took it home and Googled about it just to see if it was legit (it was maybe a week after its introduction, and I hadn't yet heard the news). It and a couple more lingered in a holder in my car until one day when, while looking for some change to put into a parking meter, discovered that the meter was a newer digital one that accepted Sacajawea dollars, and it indeed reacted as if I had deposited one dollar's worth of quarters.

Now, virtually all the parking meters in the downtown Louisville area accept them. Sweet.
 
Nermal said:
I'd always found it strange that American money is referred to as "bills" (we call them "notes" here). I just assumed that it was some sort of change along the same lines as color/colour, elevator/lift, etc. But when I went to the US a couple of months ago I was surprised to find "federal reserve note" printed on them. So, why "bills"?
Click to expand...

Hmmm. That's a good question. I'm guessing popular use of 'note' to refer to paper money may have gradually shifted to 'bill' over time? In my great-grandfather's time, they were often called banknotes or just notes. And there were different common terms back then: bank notes, promissory notes, federal reserve notes, government notes, private notes, greenbacks, etc.

Official wording on printed paper money tend to not change much over time because it requires an Act of Congress passed and signed into law by the President to alter wording -- very rarely done without an extremely compelling reason. The last major change to wording was in 1957 during the height of the 'Red Scare' (that whole communist witch-hunt), Congress added to paper money the words 'In God We Trust' on the reverse.

Most of the motifs and general design prior to the retooling of recent years were pretty much set by around 1928. The reverse design didn't start to change to what we know today until 1935. A comparison of a 1928? bill vs. a 2003 bill:

http://i32.photobucket.com/albums/d12/phreadom/blog content/one-dollar-bills1.jpg
 
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