Posted by: Dahni | April 27, 2008

What I Want

© 04/27/08

By Dahni

   What do I want? My sweetie always asks, “Do you want anything from the store.” I usually answer with something like the following (unless I really want something):

“Just pick me up a fifty pound bucket of fifties.

If they are on sale or two for the price of one, get two.”     🙂

 

 

 

 

 

 

 

 

 

   Just for fun I wondered actually how much a fifty pound bucket of fifties would be worth. I checked with The United States Treasury Bureau of Engraving and Printing

and found the following information.

  • The approximate weight of a currency note, regardless of denomination is (1) one gram. There are 454 grams in one (1) U.S. pound, therefore, there should be 454 notes in (1) one pound(Avoirdupois system). If the troy system were used, there are (12) twelve ounces in (1) one pound; therefore, if one note weighs approximately (1) one gram, then (1) troy pound contains approximately 375 notes.

   So, 454 grams (1 pound) X 50 lbs. X $50.00 = $1,134,000.00 Oh, YAY! 🙂

    I could get greedy and want my bucket filled with a larger denomination like $500, $1,000, $5,000, and $10,000 bills, but on July 14, 1969, the Department of the Treasury and the Federal Reserve System announced that currency notes in these denominations would be discontinued due to lack of use. Although they were issued until 1969, they were last printed in 1945. These notes are legal tender and may be found in circulation today; however, most are probably in the hands of collectors.

   But hey, if my bucket was filled with these denominations, it would only be greed 101. Why not really go for the gusto!

   For the record, there is a $100,000 US Banknote. These were notes used within the banking system to transfer large amounts of funds to the Federal Reserve. No bank is interested in using this system anymore as it is easier to transfer the money electronically.

   This bank note was backed by gold and was a ‘gold certificate.’ On front of the bill is, Woodrow Wilson (1856-1924), 28th President of the United States 1913-1921.

   This 100,000 Dollar Gold Certificate is the highest U. S. denomination. Only 42,000 were printed. They were used only for transactions between the Federal Reserve and the Treasury Department. These notes were never issued for public circulation. When the Government stopped using them in the early 1960s, most were destroyed.

   Only three are known to have survived. One is housed at the Federal Reserve Bank of San Francisco, one at the Bureau of Engraving and Printing, and one at the Smithsonian Institute.

   It’s illegal for a private person to own one of these notes, and none has ever been in private hands. All 42,000 were accounted for. However, I have heard of several poor quality counterfeits. They seem to have originated from Asia. So if you happen to have one in your possession, it must be a fake.

   Sigh!!! Oh well, a fifty pound bucket of fifties will just have to do. 🙂

Just Imagine,

Dahni


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