topic Re: Old paper money in Community Chat

Old paper money

catter70 — Sat, 10 Aug 2024 12:00:09 GMT

I'm one of the few, I guess, who still uses cash for a lot of things. I came across some old paper money I had put away years ago for an emergency fund from the early 90's. Anyhow, I went to Walmart this morning and the self check out lane wouldn't acccept it. A lady at a checkout accepted it this once, but said it is Walmart's policy not to accept "old" paper money. I Googled it and it is considered legal tender no matter when it was issued. Hope the bank will exchange this for me.

Re: Old paper money

Estellee — Sat, 10 Aug 2024 12:02:36 GMT

@catter70 I hope the bank exchanges it too, please let us know!

Re: Old paper money

on the bay — Sat, 10 Aug 2024 12:04:16 GMT

@catter70,

What is old paper money? You mean like just really old looking?

Re: Old paper money

Travone — Sat, 10 Aug 2024 12:10:30 GMT

@on the bay wrote:
@catter70,
What is old paper money? You mean like just really old looking?

@on the bay

Old paper money is money that hasn't been in circulation for a period of time. Over the years the fed changes the look of the money.

Banks should take this for the OP. Now, if you have millions they may have to put it through a lot of scrutiny to make sure it's not from a years ago bank robbery. 😀

Re: Old paper money

catter70 — Sat, 10 Aug 2024 12:12:39 GMT

No, it isn't old looking, it was just printed /issued in the early 90's. It is Walmart's policy not to accept these older bills, but just this once because I had already checked out thru self checkout which kept spitting the bills back out.

Re: Old paper money

gidgetgh — Sat, 10 Aug 2024 12:15:04 GMT

Another reason not to shop at Walmart. They try to make shopping there difficult.

It's not like you were giving them cash from the 1890's.

Re: Old paper money

on the bay — Sat, 10 Aug 2024 12:15:20 GMT

Thanks,@Travone,

I didn't know they changed the look of money,

I was thinking maybe some kind of robbery.

@catter70,

Now it is kind of funny that someone might think Ok lady, where did this come from?!!

But very interesting while also annoying to have to exchange.

They will probably refuse coins in the future. I haven't used any for a long time come to think of it.

Re: Old paper money

Eileen in Virginia — Sat, 10 Aug 2024 12:25:07 GMT

Interesting! I keep some cash on hand just in case I need it (this came in handy during the pandemic). I don't think it's that old, but I'll take a look at it. Thanks!

Re: Old paper money

Carmie — Sat, 10 Aug 2024 12:33:39 GMT

Of course, the bank will exchange it. They will also issue new bills for those that are worn, torn or missing pieces as long as at least 50% remains.

Old money in good shape can still be spent as legal tender, but if you're inserting it into a "money machine" it may not be able to read the bill.

A human cashier anywhere should accept these old bills. Just don't try to feed it into self check out money machines.

Re: Old paper money

LTT1 — Sat, 10 Aug 2024 13:01:06 GMT

@catter70 @Carmie @Eileen in Virginia @on the bay @gidgetgh

I'm thinking too that refusing to use cash/coins might also be a way to cut down on theft?
When only allowing use of credit cards, sales can be tracked more accurately?

I will say that when I am out with the DGCs, they have saved up their "allowances" (and sources of cash) in order to purchase. Just the other day DGD pulled out a silver dollar ... it was accepted!

Re: Old paper money

PamfromCT — Sat, 10 Aug 2024 13:21:50 GMT

Maybe the folks at Walmart need to learn that OLD MONEY is very lucky. At least in my world that term means wealth that has existed for generatioms and has no bounds. And no, I am not a member of that club.

Re: Old paper money

catter70 — Sat, 10 Aug 2024 13:27:15 GMT

@Carmie , the lady at Walmart who eventually accepted my money said she would do it this one time, but that it is a Walmart policy not to accept this older paper money. I just called my banks CS and she said she never heard anything like that before and said to go to my local bank to see about exchanging it. Geez, I also have pennies and coins dating back 50 or 60 years+.

Re: Old paper money

catter70 — Sat, 10 Aug 2024 13:30:45 GMT

@PamfromCT , I'm not a member of that club either, but I certainly can't afford not to be able to spend it. Lesson learned, I guess.

Re: Old paper money

geezerette — Sat, 10 Aug 2024 13:34:44 GMT

I've had several old and semi-worn bills that the self checkout machine wouldn't accept. I kept them and exchanged at the bank, making sure I got intact bills instead.

What irks me is that many times the self check machine will give me the worn out bills (or old coins) that it won't accept back!

Re: Old paper money

LindaSal — Sat, 10 Aug 2024 13:37:11 GMT

They are always trying to improve cash so it's harder to counterfiet. A bank of course would exchange it for you. I had this occur in Europe not too long ago as we had gotten some Euro's for a trip in the late 90's and just held on to it. When we returned in the last year or two they wouldn't accept a couple of the bills we had due to changes that had been made to their currency. This was a cashier at a store, thankfully we didn't have too much of it so we ended up leaving it for tips at different restaurants. We figured it would be easier for them to get to a bank than us being on vacation!

Re: Old paper money

ScrapHappy — Sat, 10 Aug 2024 13:43:49 GMT

I had some old $20's. I didn't have a problem using self check out at the grocery store but did at regular check out. They thought they weren't real but after getting other people involved realized they were real and accepted them.

Re: Old paper money

haddon9 — Sat, 10 Aug 2024 13:57:54 GMT

@catter70 wrote:
I'm one of the few, I guess, who still uses cash for a lot of things. I came across some old paper money I had put away years ago for an emergency fund from the early 90's. Anyhow, I went to Walmart this morning and the self check out lane wouldn't acccept it. A lady at a checkout accepted it this once, but said it is Walmart's policy not to accept "old" paper money. I Googled it and it is considered legal tender no matter when it was issued. Hope the bank will exchange this for me.
'

I can't imagine the bank not exchaning it for you! It's a bank and legal tender cash.

The world seems to be getting more ridiculous!

Re: Old paper money

drizzellla — Sat, 10 Aug 2024 14:05:32 GMT

Whenever I got "Silver Certificate" paper money, I would put it in an envelope.

I kept thinking I could turn it in some day and get silver for it.

Since the dollar hasn't the value it once did. Wonder if I can get anything for it.

Maybe it is time to find out.

Re: Old paper money

Love my grandkids — Sat, 10 Aug 2024 15:24:36 GMT

Reminds me of something that happened a few years ago. I was paying for my groceries at Safeway and in my cash was a Silver Certificate which I know are rare. The cashier asked me if I wanted to keep it and use another bill.

I said no and he asked if he could replace it with one of his own and could he have it. He was a super nice guy so I said 'sure." He was wondering if it was worth anything. I said if it is, enjoy! I just wasn't interested in pursuing it myself.

Re: Old paper money

ECBG — Sat, 10 Aug 2024 15:33:14 GMT

@catter70

Save silver certificates!