Legal tender?

[Luv Bunnies]

We found some old 20 dollar bills a few years ago when we moved. We used one at a sandwich shop and the cashier looked at it for a long time, then called the manager over. The manager told her it was any older-style bill but it was fine to accept it. After that, we deposited the rest into an ATM with no problem. We were thinking we would use them for extra spending money, but decided it would be easier to deposit them and withdraw newer 20s.

 

[bcla]

Yes, they’re still valid. But once deposited in a bank they’d probably be removed from circulation.

I don’t believe that’s a requirement unless it’s well worn or a withdrawn denomination ($500 and higher). I’ve received quite a few from banks mixed in with the newer style.

 

[bcla]

Just don't try to use them at a self-checkout. The bill reader may not be programmed to recognize them.

I’ve never had a problem. The only issue I’ve ever heard of is that those outside of the US might not accept them on the basis that newer versions are more resistant to counterfeiting.

 

[TipsyTraveler]

That’s the old style bill? Geez, in my mind that’s the new style. I guess it’s been a long time since I’ve handled cash.

 

[bcla]

Legal tender may not be the issue. In the United States that term has a narrow meaning related to payment of debts. No merchant is required to accept any particular form of payment as a matter of law.

Merchant acceptance of cash varies immensely. I’ve been to some businessess that don’t accept cash for purchases. Many limit acceptance to $20 notes or lower, sometimes depending on time of day. I’ve had one business that refused to accept my $2 bills with an excuse that (while the cashier knew they were real money) their bank would refuse them as deposits. Some cashiers might not have seen an older note before and refuse of that basis. A supervisor might be called in to adjudicate. Some might refuse on the basis that newer bills are more counterfeit resistant.

You should have no issues taking one into a bank for exchange, other than perhaps one might not make such an exchange without an account at that bank.

 

[tvguy]

Somewhere I have at least one $2 bill that I kept as a memento...I should really find that...but who knows where it's ended up in the black hole that is the house

The folks over on the Cruise Line Forum used to be big on taking $2 bills for tips. My last cruise, (2019) I went to the bank to get some and the teller looked at me like I was crazy, she had never heard of $2 bills. She called the Manager over who shook his head, and said they don't stock $2 bills but if I requested them by Noon, they could get them for me by the next day. Same with Dollar coins.

 

[tvguy]

In 1983 the primary type of travel money was travel checks or cash. Credit cards weren't accepted everywhere at the time because merchants had to pay a percentage to the credit card company when they get reimburse for them. So they didn't want people to use them. They were accepted but not widely. There were no pocket sized cell phones either and there were banks of coin operated land lines all over the parks. People used Travelers Checks because in crowded areas you could get pickpocketed for your cash and credit cards, but if you kept track of where and when you cashed Travelers Checks you could get them replaced. The only CC that was a problem was the American Express Credit Cards because they charged more than Visa or MasterCard to the places that let you use them so for the longest time many places just wouldn't accept them.

I found that many merchants still prefer Travelers Checks to credit cards since they process them just like cash, no fee. And YES, you can still get Travelers Checks.

 

[TipsyTraveler]

The folks over on the Cruise Line Forum used to be big on taking $2 bills for tips. My last cruise, (2019) I went to the bank to get some and the teller looked at me like I was crazy, she had never heard of $2 bills. She called the Manager over who shook his head, and said they don't stock $2 bills but if I requested them by Noon, they could get them for me by the next day. Same with Dollar coins.

Whyyyy?? I used to bartend and I despised getting those stupid things, as did most everyone else I worked with. There was one guy on staff who was willing to take them and we would give them away to him just to be rid of them.

 

[tvguy]

Whyyyy?? I used to bartend and I despised getting those stupid things, as did most everyone else I worked with. There was one guy on staff who was willing to take them and we would give them away to him just to be rid of them.

Why would you despise them? They are cash you can spend anywhere? Would you rather have a $1 tip, or a $2 tip?

 

[Mackenzie Click-Mickelson]

The folks over on the Cruise Line Forum used to be big on taking $2 bills for tips. My last cruise, (2019) I went to the bank to get some and the teller looked at me like I was crazy, she had never heard of $2 bills. She called the Manager over who shook his head, and said they don't stock $2 bills but if I requested them by Noon, they could get them for me by the next day. Same with Dollar coins.

That is a common thing to happen where people don't realize it's a real thing. I've seen it less with dollar coins but def. with the $2 bills. It's not common to find them out in circulation so I can understand a bank not having them to give out.

 

[SirDuff]

I found that many merchants still prefer Travelers Checks to credit cards since they process them just like cash, no fee. And YES, you can still get Travelers Checks.

Your experiences are so weird.

 

[CaptainAmerica]

Those bills are worthless. Send them to me and I'll be willing to dispose of them properly for you.

 

[CaptainAmerica]

Yes, they’re still valid. But once deposited in a bank they’d probably be removed from circulation.

Lol no they wouldn't. These are normal bills. You could go to an ATM tomorrow and there's a high likelihood that you'd get a stack of these just like any newer bills.

 

[tvguy]

Your experiences are so weird.

I just have traveled a lot. Been fortunate that way.

 

[Kathryn Merteuil]

NO! you cannot use those bills! Send them to me for disposal!









Heck when I was a teller a few years ago, I saw the ones that were even older on a daily basis.. they were so old that they had the small Ben Franklin in the middle. Those bills you have appear to be perfectly good. Yes they are old, but they are definitely not THAT old. Spend them or deposit them, it will be fine.

 

[tvguy]

That is a common thing to happen where people don't realize it's a real thing. I've seen it less with dollar coins but def. with the $2 bills. It's not common to find them out in circulation so I can understand a bank not having them to give out.

Dollar coins were more common because Walmart in the early 2000's made a deal with the U.S. Mint when they first issued Sacagawea coins to give them as change in their stores. And vending machine companies liked them. Their change machines used to give change in Sacagawea coins which their vending machines accepted. Until about 3 years ago the vending machines at my office were set up that way. They took them out and put in a "Market" where items were taken and paid for on the honor system, credit cards being the only thing accepted by the pay kiosk.

 

[SirDuff]

I just have traveled a lot. Been fortunate that way.

I travel enough to have top tier status in two airline groups and have lived in four countries on three continents….your experiences (abroad and domestically) are weird.

 

[Kathryn Merteuil]

With the $2 bills... we would usually see those on a daily basis as well. As far as having them to "trade for", we were didn't have the pristine ones too often because when we had them, somebody would get all of them. As far as finding a $2 bill that had nothing special about it, you get those easily.

And the dollar coins, we all hated those, and I don't recall anybody ever requesting them. They mainly came in with convenience store deposits. There are some kind of dollar coins that are highly desirable, but they are like really old, not just plain ones that you see on a daily basis on the teller line. I don't remember exactly the ones that are sought after, but we didn't see them very often. I remember some guy would come in every week and go to every teller station and ask if we had any of them.

 

[tvguy]

I travel enough to have top tier status in two airline groups and have lived in four countries on three continents….your experiences (abroad and domestically) are weird.

How so?

 

[CaptainAmerica]

How so?

No merchant in America wants to see traveler's checks.