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Uncut Currency

usmint.gov

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Re: Uncut Currency

#311

Post by scarface_74 »

bigstrat2003 wrote: post #304
scarface_74 wrote: post #226

Earlier quoted context omitted.

> Merchants are prevented by their contract from charging the transaction fee to the customer using the card. Therefore all customers pay the fees though increased merchant prices, even those using cash. This hasn’t been true for over a decade https://usa.visa.com/dam/VCOM/download/merchants/surcharging... > Can I add a surcharge to card transactions? > As a result of a legal settlement to resolve claims brought by a…

> You really think retailers would reduce their prices by the amount of credit card fees if they didn’t pay them? What kind of question is that? You were literally given an example, in this thread, about how some retailers do just that.

In aggregate, if all credit card fees were eliminated tomorrow, would all prices get 2% cheaper?

Re: Uncut Currency

#312

Post by scarface_74 »

toast0 wrote: post #302
scarface_74 wrote: post #216

Earlier quoted context omitted.

A credit card or debit card doesn’t require batteries either…

Imprint machines are dead; most of my cards don't have raised numbers, possibly none of them have them. Where I live, most of the terminals are either on batteries directly or via a UPS. If someone is anti-battery, they shouldn't use credit cards here. Although, cash registers are usually on a UPS too.

I meant credit cards don’t require the user to have a charged device.

Re: Uncut Currency

#313

Post by mmooss »

bradley13 wrote: post #61
sschueller wrote: post #32

Why is the US one of the few countries that can't keep a consistent design across their bills and still does not have a way for blind people to identify which note they have. They are all the same size and have no embossed markings.

The US is so weird about its currency. The repeated attempts to get rid of the dollar bill (dollar coins, two-dollar bill, etc.) have all "failed". I put "failed" in quotes, because all it requires is for the government to do it. Take the one-dollar bills out of circulation, no discussion, done. At this point, take the two-dollar bills (no one will notice) and the penny as well.

> all it requires is for the government to do it. Take the one-dollar bills out of circulation, no discussion, done.

It turns out that democratically elected officials are compelled to be responsive to the voters, and don't want to anger them unnecessarily or waste time and political capital on low-value issues.

Re: Uncut Currency

#314

Post by mmooss »

packtreefly wrote: post #291
soap- wrote: post #125

Earlier quoted context omitted.

Coins are simply worse than bills. They're too thick for something you'd be keeping mainly in your wallet or pocket.

Dollar bills are usually in terrible condition. Folded corners, creases, dirt. Ten singles take up more space in my wallet than just about anything else I'd put in there. I'd rather have ten coins. They'll easily fit in the bottom of my pocket, and when I pull out change there's likely to be a useful amount of money in it.

> Dollar bills are usually in terrible condition

Do you get yours from selling drugs? Mine are usually fine, very rarely in 'terrible' condition.

Re: Uncut Currency

#315

Post by valarauko »

scintill76 wrote: post #276
valarauko wrote: post #257

Earlier quoted context omitted.

That seems reasonable, but why would the US Mint care about manufactured spend for credit card companies?

I believe in some cases there was no premium at all, not even shipping, so widespread manufactured spending was losing the Mint much more money than they were prepared for when they started the program.

I don't follow. Why would Manufactured Spend specifically cost the Mint money? It's not great for the credit card company, sure, but why the Mint? If the Mint was previously eating the interchange fees & shipping, ok, but that's not a manufactured spend specific issue.

Re: Uncut Currency

#316

Post by jagged-chisel »

lupire wrote: post #128
jagged-chisel wrote: post #115

Earlier quoted context omitted.

Because they're doing what people do here so often - responding to the headline, not the 'article.' The headline and first sentence are outright lies. "...known for printing his own unique currency—$2 bills that he personally designs." Uh ... no? He doesn't print it, he didn't design it. "He doesn’t actually print official U.S. currency, which would be illegal. Instead, [he] purchases uncut sheets of $2 bills from th…

You don't have to. You could be a sane, intelligent person and not look at Instagram at all.

I didn't say it had to be done on instagram.

Re: Uncut Currency

#317

Post by indrora »

thaumasiotes wrote: post #277
nxobject wrote: post #272

Earlier quoted context omitted.

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.

> 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.

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

Re: Uncut Currency

#318

Post by KETHERCORTEX »

triyambakam wrote: post #266
nlh wrote: post #154

(Professional coin & currency nerd here) Fun fact about these — when the treasury first issued these, many people decided to cut them into odd off-center pieces and sell the resulting notes as miscut errors. Once that started happening, the treasury (BEP to be specific) very quickly changed the serial numbers so they’re all very recognizable as having come from an uncut sheet. I didn’t check the latest for all denomi…

Is it illegal to purposefully cut it that way?

If I recall correctly, as long as it has more than half of one bill in one piece, it's okay. Good luck trying to pay for stuff though.

Re: Uncut Currency

#319

Post by eesmith »

buryat wrote: post #273
AngryData wrote: post #94

Earlier quoted context omitted.

In the case of damaged bills, if you have over half of it it is generally still considered legal tender and banks will accept it as-is. However if over 50% of the bill is damaged or missing, it has to be turned into the Bureau of Engraving and Printing, which is basically the paper money half of the US Mint, and investigated/examined to determine if it is valid for replacement or reimbursement. So I would assume as l…

Is this an infinite paper glitch? If banks have to accept if over 50% of the bill is missing, then you can keep the other paper and use it. Using it productively seems difficult but $1M in $1 bills (one bill is roughly 1 gram) would be 1000kg, 490kg of paper, let's say it would be considered residential papers then at $100 per ton, we're looking at $49 in yield out of air. 0.0049bbps + infinite time on doing the proc…

They do not have to accept it. https://www.bep.gov/services/mutilated-currency-redemption

> Lawful holders of mutilated currency may receive a redemption at full value when: ...

> 1. Clearly more than 50% of a note identifiable as United States currency is present, along with sufficient remnants of any relevant security feature; or

> 2. 50% or less of a note identifiable as United States currency is present and the method of mutilation and supporting evidence demonstrate to the satisfaction of the [Bureau of Engraving & Printing] that the missing portions have been totally destroyed.

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