Teller Story About Currency Collector

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Teller Story About Currency Collector

Postby Recyclersteve » Sat Sep 09, 2023 3:05 am

I spoke with a bank teller Friday and he shared a story with me about a regular customer (older man) who (I think weekly) comes in for $2,000 face in $1 bills. He only gets $1 bills and says he’s a collector.

Also, the teller said the customer regularly goes to 8 different banks. So that is theoretically $16,000 in $1 bills a week!

I’d love to meet this collector, and would ask him the following:

1) How long has he been doing this?
2) Has he had any luck selling the better notes that he finds?
3) What is he looking for? Star notes, fancy serial numbers, mismatched serial numbers, silver certificates, or something else?
4) Does he have a currency counter/authenticator device at home?

I sure hope he’s not some misguided poor guy who wastes a lot of time looking for a big payday that will likely never happen!
On the other hand, my wife likely thinks the same way about me and my hunt for silver halves!
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
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Re: Teller Story About Currency Collector

Postby galenrog » Sat Sep 09, 2023 11:26 am

10,000 notes per week is average for currency searchers. I know a few that look at several thousand a day, nearly every day.

Four primary things a currency searcher looks for: Star Notes, Fancy Serial Numbers (the list on this, alone, can be lengthy) Errors, and Obsolete Designs.

Collectors are a fickle bunch. One day everyone wants quads, the next, binaries. The pulse of the market is a hard thing to read, even on a good day.

Time for more coffee.
Mine Gold, Buy Silver. It Fills the Safe Faster.
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Re: Teller Story About Currency Collector

Postby Corsair » Wed Sep 13, 2023 1:20 pm

Making it rain at the local "Gentlemen's Club"?
"Now watch what you say or they'll be calling you a radical, a liberal, fanatical, criminal. Won't you sign up your name, we'd like to feel you're acceptable, respectable, presentable, a vegetable."
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Re: Teller Story About Currency Collector

Postby Lemon Thrower » Thu Sep 14, 2023 5:29 am

Corsair wrote:Making it rain at the local "Gentlemen's Club"?


I prefer $2 bills. In the dark, they look like $20's. :shh:
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Re: Teller Story About Currency Collector

Postby pmbug » Mon Sep 18, 2023 9:58 am

Recyclersteve wrote:I spoke with a bank teller Friday and he shared a story with me about a regular customer (older man) who (I think weekly) comes in for $2,000 face in $1 bills. He only gets $1 bills and says he’s a collector.

Also, the teller said the customer regularly goes to 8 different banks. So that is theoretically $16,000 in $1 bills a week!
...


I was talking to a bank teller this morning and she shared with me a story about a regular customer (older man) who comes in weekly with $2,000 in $1 bills and asks for an exchange into 20 $100 bills. The teller says the customer regularly goes to 8 different banks too.

<just kidding>
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You can find me ranting at clouds on pmbug.com.
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Re: Teller Story About Currency Collector

Postby Recyclersteve » Tue Sep 19, 2023 2:22 pm

pmbug wrote:
Recyclersteve wrote:I spoke with a bank teller Friday and he shared a story with me about a regular customer (older man) who (I think weekly) comes in for $2,000 face in $1 bills. He only gets $1 bills and says he’s a collector.

Also, the teller said the customer regularly goes to 8 different banks. So that is theoretically $16,000 in $1 bills a week!
...


I was talking to a bank teller this morning and she shared with me a story about a regular customer (older man) who comes in weekly with $2,000 in $1 bills and asks for an exchange into 20 $100 bills. The teller says the customer regularly goes to 8 different banks too.

<just kidding>


Ha!
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
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Posts: 4584
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