Thread: All Banks $ Dealers News Here.

Originally Posted by dinartank

yes they open it right in front of you count it verify it and then you sign with chase

Where we were going and some Bud's still do, they just hand us the sealed plastic delievery envelope (green) and your own you way. Now you can set their and open it and do your thing. But if you dont, then the tellers have no ideal what you have anyways, they never have open mine up. Thats just the way they do at the Branch I have dealt with.

Originally Posted by neno

Where we were going and some Bud's still do, they just hand us the sealed plastic delievery envelope (green) and your own you way. Now you can set their and open it and do your thing. But if you dont, then the tellers have no ideal what you have anyways, they never have open mine up. Thats just the way they do at the Branch I have dealt with.

MAKE SURE THEY PUT A CHASE LABEL ON THAT ENVELOPE!

MINE WAS BLANK.................

Originally Posted by goldraker

MAKE SURE THEY PUT A CHASE LABEL ON THAT ENVELOPE!

MINE WAS BLANK.................

Mine didn't have Chase labels but I did keep the reciept and a copy of the signed order form (indicating how many notes and what denoms) proving I bought it from them.

Originally Posted by goldraker

MAKE SURE THEY PUT A CHASE LABEL ON THAT ENVELOPE!

MINE WAS BLANK.................

I Trashed the Envelopes. Seen no need in them. Like Vipor I kept the reciepts for Capital Gains proof at Tax time. The envelope was nothing of need to me. But Thanks.

Originally Posted by neno

Where we were going and some Bud's still do, they just hand us the sealed plastic delievery envelope (green) and your own you way. Now you can set their and open it and do your thing. But if you dont, then the tellers have no ideal what you have anyways, they never have open mine up. Thats just the way they do at the Branch I have dealt with.

That is the same thing they do at the Chase Bank I go to...green unopened envelope. Then I go to a private room, open it and count it.

The US Govt. (Treasury?) has simular rules.

What your mixing up is that we are investing in currency (money), not a piece of artwork, or collectable, or even a baseball card. Currency is ment to be used... ie: carried around, folded, minor writing on it, corners bent, ect.

The uncirculated bills are nice, but the value now is the exact same when exchanged. 20 years from now, a collector might pay more than the exchange rate for a bill thats perfect, but a bank will give you the current exchange rate.

As Cdn mentioned below, read the entire CBI document, not the one portion to scare everyone.

Dinarstars

Originally Posted by Cdn Scrooge

I think you need to read all 3 paragraphs of Article 34 together to get the true meaning, and not just one paragraph taken out of context. Here they are.....

Article 34 Withdrawal of unfit banknotes and coins

1. Banknotes and coins in circulation that are unfit for circulation shall cease to be legal tender. Subject to paragraph (2) of this Article, the CBI shall withdraw, destroy, and replace, with banknotes or coins of an equivalent amount, any banknotes or coins presented to it that are unfit for circulation.

2. The CBI may decline to replace an unfit banknote or coin if its designs are illegible, misshaped or perforated, or if more than fifty percent of its surface has been lost; such a banknote or coin shall be withdrawn and destroyed without indemnity to the owner, unless there is evidence satisfactory to the CBI that the missing portions have been totally destroyed, in which case the CBI may, in its sole and absolute discretion, grant compensation in whole or in part.

3. The CBI shall not be required to provide any compensation for banknotes or coins that were lost, stolen or destroyed; it may confiscate without compensation any banknotes that have been altered in their external appearance, including in particular banknotes that have been written on, painted on, overprinted, stamped or perforated, or to which adhesive matter has been applied.

It appears to me that if the notes are seriously damaged, etc. they may refuse to compensate on the basis that A) they could be counterfeit or B) they are 1/2 of the note and the other 1/2 will be presented at another time. I really don't feel that a few tiny pinholes from a counting machine or normal wear and tear from use are going to be reason enough for them to refuse to honour them. Besides, since they are the source for B of A then why did they release them to B of A if they were not "fit for circulation". Personally, I am not worried. I have had many of our own Cdn notes accepted by the bank that were in much worse shape than the dinars I have in my possession.

ive read all 3 and it still says in the 3rd one that "including in particular banknotes that have been written on, painted on, overprinted, stamped or perforated, or to which adhesive matter has been applied." whichever way you read it or whatever part you read it still says this.... thats why im nervous about the notes with perforations..

regarding just having the receipt you got from chase . how does chase know that the notes you have are THE EXACT ONES you got from them..

Different Chase branch, different strokes. At my branch, it comes in a white envelope and the teller goes thru a very methodical process of opening and counting each bill in the envelope, as in, "I am now opening the envelope" while she is slitting it with scissors.

The chase that i use opens the package at the tellers window you count it sign and thats it.

ive spoke to many different people regarding this pinholes thing. people from currency exchnages and banks and they ALL said theyre fine so im satisfied now. thanks for the help guys!!