NEW $100 Bills

Heading to the bank next week for my Oct 22nd Vegas trip. I don't want them. No sense in taking the chance they won't work in the various VP machines so close to their introduction.

 

According to uncle internet, a brick of $100's would be $400,000?? Are you financing a revolution?

 

Come on, this is like the millenium bug fiasco. It's Vegas, they aren't going to shut down because a new bill comes out. This will have been already long considered.

 

He probably meant a strap, which is 100 bills or $10k. But you're right, a brick is 40 straps.....maybe he's just looking to really get his gamble on.

The casinos should be prepared but that doesn't mean it can't be buggy. There is only one way cash is put into circulation, its through the Federal Reserve (after they purchase the notes from Treasury). And the Fed can only distribute them to its member depository banks. They can't send out early samples to select institutions for testing purposes because their charter doesn't allow them to distribute currency to anyone else. So you can conceivably receive the new $100 at the same time as the casinos, before they've even had a chance to test it.

Someone who works at a casino noted upthread that they were just in the process of updating their bill readers. So presumably the Treasury just released those electronic billsets recently and they would have to be uploaded into each of the readers. Some may not get done, or they may get done and may be buggy or need to be adjusted. No one will know until they test the actual bills. Wasn't there a problem like that several years ago when the newest $10 was released? It took a while before bill readers in casinos started accepting them?

 

You're right of course - it could be buggy but the casino will still have a huge amount of old pills on hand, no?

I was being a bit flippant, but I meant to convey that it won't be an end of the world kind of situation.

 

$205 million in drug money.

 

I also use the term brick to refer to a 10k strap. I've never heard of a brick referring to 40 straps. the only bigger brick I've seen was 100k of freshly printed 100s strapped and wrapped and that was very sexy indeed. not even sure where you can get something like that.

 

C’mon Big Tip…I said you could LOOK! I didn’t say you could take a picture and show the world.

Seriously…that’s the last time I let you in my garage!

 

if you had a stash like that, you'd be on every casino president's speed dial. casinos love drug money, no joke.

 

Maybe as slang with friends but brick, strap, etc. are official designations used by the the FRBs, Bureau of Engraving and Printing, etc. So if you went to the bank and asked for a brick of hundreds you should bring a big bag.

Strap = 100 notes = 3.48 ounces
Bundle = 1,000 notes = 2.19 pounds
Brick = 4,000 notes = 8.75 pounds
Cash Pak = 16,000 notes = 35 pounds
Those weights are based on the 1996 series.

http://www.moneyfactory.gov/uscurrency/theproductionprocess.html
http://www.frbservices.org/help/coin_and_currency.html

 

I got a stack of these out of an ATM today (BECU, local credit union). Really surprised me to see them so soon. The hologram strip is cool. Seems smooth enough that if you roll it up right, none of the coke will stick to the bill when you snort it.

And since they're all sequential and haven't been in circulation, they're all sticking together. I hope I don't make a drunken mistake and shove two of those things in at the same time (that's what she said).

My plan is to cycle through them at the casino, then convert them to pesos before the end of the week :evillaugh

 

Hopefully, I can get a few of these bad boys too this week. I'm a bit worried about exchanging these new bills for foreign currency though.

 

I find it funny that we make new "bills" to make it harder for the counterfeiters. But then all the news channels dissect them and let the counterfeiters know whats new about them. They tell them all the new "secrets " that are ment to keep them from making fake money.

 

Well, it doesn't really matter because professional counterfeiters will just buy the new bills, and go over them in fine detail to figure out how to produce fakes.

The new design of the bills will mainly be keeping the amateur counterfeiters and the people that just print up phony bills on their inkjet printer at home from producing fakes.

 

the technology is not meant to be secret, it's meant to be hard to duplicate. all the fancy new stuff just makes it difficult to setup counterfeiting operations because of the high expense involved in the machinery required to duplicate the features.

 

interesting story, probably 10 years ago, we went to dinner at a Chinese buffet. my Grandad pulled out a $20 to pay for dinner. it was one of the original $20 bill designs - the symmetrical ones that look like the $1 still does. the Chinese lady flat out refused it. she had never seen one that looked like that before, so thought it was fake or something. he pulled out another $20 with the then-new design and she took it.

 

LOL. Nothing better than an establishment in the U.S. declining legal tender.

I'm just going to bring the "old" $100 bills with me to Thailand and Vietnam. I'd rather not deal with the currency people over there, especially in Vietnam. Looking forward to trading my $100s for a lot of dongs

 

I've been to both places a bunch of times and lived in the region. You can use USD all over Vietnam, in fact they prefer it and basically expect it. Get some dong (lol) for souvenirs and for uber small bills to spend but keep it at a minimum. In Thailand you'll want to get some THB but most people will accept USD especially in tourist places like Bangkok and Phuket. Even cab drivers. But things are still quoted in baht, unlike Vietnam where you'll see and hear a lot of things quoted in USD. For good hotels and restaurants just charge things instead of using local currency if you want a tighter fx spread.

And trust me, they'll know more about the new $100 bill design than the average yokel out here. I was living in Asia when the new $5 or $10 came out some years ago and would see it out there at the same time I was reading about it in the US press. Money moves overseas fast.

 

So if I walk into a bank and request 3 straps of $1s and a strap of $5s Ill get 4 bundles of money totaling $800? Do tellers know these terms? Id assume so. Do most banks keep new wrapped money around?

 

no, they don't keep strapped 1s and 5s around. they do keep straps of 20s and 100s around usually, although, often when I've gone in to withdraw 10k or more, they have to strap them for me. another thing to keep in mind is that banks also often strap bills in smaller quantities. e.g. they'll do 20 100s in a 2k strap. they don't just do the 100 bill straps, in fact, those are less common from what I've seen because they're less usable for normal bank operations. 2k in 100s is much more commonly used than 10k.

as far as getting 300 1-dollar bills out of your bank, good luck. you'll likely have to order that many and it will take a week or so to get them in.

also, getting brand new money from them is next to impossible. they don't keep new money separate from old money, it's all together. so whether you get nice, new, crisp bills or old, ratty bills just depends on your luck.

the bottom line is any kind of special stuff like this that you want to do, you need to call your banker well in advance and give him some time to get what you want.