A bit ot - counterfeit bills
Bob-tx
May 27, 2010 -- Don't accept or carry anything larger than a $20
bill
RIP-OFF ALERT: Clark has a rule: He never carries anything larger
than a $20 bill. Why? Because bills larger than that have a much
higher chance of being counterfeit.
The Los Angeles Times reported a story about a fellow who cashed a
large money order at the Post Office. He was given eight $100 bills,
all of which turned out to be counterfeit. He discovered this when
he tried to spend one of them at a gas station that used a
counterfeit-bill detector. The police were called on him.
While the cops were on the way, he consulted a lawyer, who advised
him to report the remaining bills to the police. The police
confiscated the bills, and the fellow was out $800. Even though the
bills came from a government entity (the USPS), once someone accepts
a counterfeit bill, the liability becomes theirs, and it immediately
becomes a felony to pass them on to anyone else.
Clark wants you to look anything larger than $50 as poison: just
don't accept them for payment. Sure, there may be counterfeit $20's
floating around, but on the off chance you get one of those and lose
that cash, it won't hurt nearly as bad as losing $100 or more.
Bruce Remick
"Bob-tx" <bobw...@suddenlink.net> wrote in message
news:4c0d2fa8$0$11810$bbae...@news.suddenlink.net...
I assume there was some reason why the fellow wanted all $100 bills instead
of smaller stuff. Those $100's scare me.
Mr. Jaggers
> From a Clark Howard newsletter
>
> May 27, 2010 -- Don't accept or carry anything larger than a $20
> bill
> RIP-OFF ALERT: Clark has a rule: He never carries anything larger
> than a $20 bill. Why? Because bills larger than that have a much
> higher chance of being counterfeit.
>
> The Los Angeles Times reported a story about a fellow who cashed a
> large money order at the Post Office. He was given eight $100 bills,
> all of which turned out to be counterfeit. He discovered this when
> he tried to spend one of them at a gas station that used a
> counterfeit-bill detector. The police were called on him.
>
> While the cops were on the way, he consulted a lawyer, who advised
> him to report the remaining bills to the police. The police
> confiscated the bills, and the fellow was out $800. Even though the
> bills came from a government entity (the USPS), once someone accepts
> a counterfeit bill, the liability becomes theirs, and it immediately
> becomes a felony to pass them on to anyone else.
So, let's see, someone delivered the fakes to the post office (a felony) and
the post office accepted them without testing them. Then the post office
clerk just happened to have eight fake $100 bills all together in the cash
drawer, only to give them out (a felony) to the fellow in question. The
odds are that there were more than eight fake $100s, and that one or more
were given out (one additional felony, perhaps two) before and/or after our
hapless victim in the story.
Something about this report just doesn't smell right.
James
Peter
>
> - Show quoted text -
What has an even stronger fragrance is the assertion that nobody at
the post office knows where they came from. They don't seem to
dispute that they had them.
In my experience, heightened interest in large bills has never been
unusual.
In 1970 I pulled out a 20 Pound note in a small town in Scotland to
buy supper and suddenly everyone in the bar ran over to see it. This
amazed me since it took quite bit of cash to get there and stay there
for a week and credit cards were not nearly so popular.
In Japan, I wanted to buy an Nikon at the PX and at a certain point I
was beginning to worry that I might be locked up for attempting to pay
for it with $50s.
I had dinner one evening with a fellow whose project was design of
money for the Dutch mint and he discussed, with a bit of confidence
the safety of the Euros. I also noticed that in most places if you
show up with anything more than a 50 Euro note, folks become
suspicious or even difficult to deal with.
Arizona Coin Collector
Someone must have read my old posting
back on 05/26/10.
---------------------------------
---------------------------------
----- Original Message -----
From: "Arizona Coin Collector" <nos...@nospam.com>
Newsgroups: rec.collecting.coins
Sent: Wednesday, May 26, 2010 11:49 AM
Subject: Customer stuck with counterfeit money from the post office
Wow
From the U.S. Postal Office. Wonder how they got the
funny money?
--------------------------------------------
Customer stuck with counterfeit money from the post office
..
Peter
> Hello
>
> Someone must have read my old posting
> back on 05/26/10.
>
> ---------------------------------
> ---------------------------------
>
>
>
> ----- Original Message -----
> From: "Arizona Coin Collector" <nos...@nospam.com>
>
> Newsgroups: rec.collecting.coins
> Sent: Wednesday, May 26, 2010 11:49 AM
> Subject: Customer stuck with counterfeit money from the post office
>
> Wow
>
> From the U.S. Postal Office. Wonder how they got the
> funny money?
>
> --------------------------------------------
>
>
> Customer stuck with counterfeit money from the post office
>
>
> - Show quoted text -
Guilty as charged.
Jass
You should try switzerland. Pay for a 20 franc meal with a 500, and
they wont even blink. Theyll even have 200 bills to give you as change
right on them (waiters come to your table with a money purse, theyre a
cash society). I even spied a 1,000 in a supermarket drawer.
On the other hand, south america (and mexico) hate large bills. The
100 real bill (about 50 USD) in brazil was printed once and never
again, meaning the largest in use bill is the 50 (25usd) but the most
common is the 20 (10usd). In mexico, you will rarely be given a bill
larger than 10usd - even though a coin of the same amount exists (but
extremely rare, and still made of silver)
As for me, I dont like 100, but I have no problem with 50s, especially
the colored ones. I think most people will get comfortable with the
100 again once the new one comes out next year.
Jud
'new' $100 bills with the large portrait, but refused the 'old' bills.
Luckily most of the C-notes I had were of the new variety. I had no
advance knowledge that there would be a problem at the bank.
When I first started going to Jamaica in 1974 a USD $1 got you JMD
$0.88. At that time the JMD$10 bill was their largest, and there was a
JMD 50¢ bill as well. When they floated their currency, they came out
with a $20 bill, and the exchange rate was USD$1 to JMD$1.25, but the
black market was offering 2:1 on US $100 bills. Jamaica then came out
with the $100 bill followed by the $50 bill. As inflation took hold
and the exchange rate approaches 1:100, Jamaica has $500 and $1000
bills in general circulation, I did see a $5000 bill and heard of but
didn't see the $10,000 bill.
For Jamaican coins, the $20 is most common, followed by the $10 coin.
Rarely do you find a $5 or $1 coin, as their value is approximately 5¢
and 1¢ respectively. They haven't issued fractional coins in years,
and have demonitized all paper money under $50. I used the JMD $50
bill as a bookmark. Where else can you get such a neat bookmark for
50¢?
It is a bit scary paying $300 for a beer, and dinner can cost $2,000
per person...but it sure is playing poker with their money!
Jud - a Jamerican -
Peter
What about the cigars? Jamaican tobacco used to be my favorite.