Federal Reserve Advertisment Real or Not?
Heres what it says. "St. Paul area zip codes turn up cash for residents, valuable uncut sheets of never circulated $2 bills are actually being released to the first 6,990 callers who find their zip code on the distribution list below and beat the 48 hour deadline to get Vault Stacks full of real money"
It says they could be worth a lot. A sheet of 4 for 48 dollars. 32 for 298. However I've done some reasearch and am curious to this. The U.S. Department of Treasury is selling them for a lower price at 90.00 for a sheet of 32 so what is the deal. Can someone who knows alot about collecting and value help me with this. Why would they sell them for a lower price when the department of treasury sells them for less. What is the Federal Reserve, I'm so confused is this a scam or not? Like I said there both uncut uncirculated. What really is the face value. Although I know there still in circulation it says they haven't been printed since 2006 which is what the bills are supposed to be.
Comments
You were smart to check it out, and you're right--the Bureau of Engraving and Printing (BEP) sells sheets of four $2 bills for $21, and an uncut sheet of 32 for $90.
This is a third-party company that buys them from the BEP, and then sells them for more than double to people who don't know you can buy them direct.
I've got an uncut sheet of 32 $2 bills that I picked up at the BEP in Washington about 10 years ago. They sell sheets for $90, and I'm seeing sheets like mine selling for $100. So, yeah, it could be worth a lot. My $90 has earned me a dollar a year.
As a good rule of thumb, anybody who advertises a coin or currency collectible and says it "could be worth a lot someday" is selling you something at more than it's worth, and they're probably never going to be worth what you paid for it. If my sheet keeps appreciating at it's current rate, it will be worth what they're selling them for in only about 200 years.
The Federal Reserve really doesn't have anything to do with this. The uncut sheets are sold directly by the BEP (which is part of the Treasury Department). The Fed manages the money supply for the nation.
Since $2 bills are not used as much as other currency, what the BEP does is print a couple of hundred million of them every five years or so, and then they draw down that stock until they need to print more. The most recent printing was in 2006, when they printed Series 2003A deuces.
If you want to abolish the Fed, I don't care really, but someone is going to get paid for managing our money. Do you think the government can do a better job? I've been following presidents since Johnson and Congress since Reagan. One thing is certain. Government is really good at spending money. And, I wouldn't be so quick to support tying our money to gold, which is a common theme among Libertarians and Austrian economists. Gold can be as easily manipulated as fiat money and instead of just the goverment and the Federal Reserve, cartels around the world will be messing with it to their own ends. If we stick to a fiat currency and regulate the amount in circulation, AND if we do a good job of it, money will serve its intended purpose, to facilitate trade. Fiat money is safer because it has no intrinsic value. Republicrat: Bloomberg may not know what happened to the money spent by the Fed, but it's not too tough to figure out. We sold houses to anyone with a pulse for 9 years, since the latter part of the Clinton Administration. The mortgage companies then sold bundles of them to investment bankers such as Stanly Morgan, Lehmann, Fannie, Freddy, etc... They in turn repackaged them into larger instruments (colateralized debt obligations) and sold them to foreign governments, large pension funds, etc... Then companies like AIG came in and sold what amounts to insurance (credit default swaps) to the buyers of the CDOs in case of default. Then it happened, the bubble burst. You can bet a large chunk of the money went to China, and we got nothing in return because it was funneled through AIG and other sellers of credit default swaps, where there was no collateral. China has the lever and they know it. ie I bet they went right past AIG et al directly to the US government, and behind closed doors said something like "If you don't make us whole, we will stop buying US bonds. Want to see a depression like nothing we've ever seen? Let China stop buying our debt. Also, I would imagine the federal employee's credit union and pension funds were rescued too. Beyond that, I wouldn't hazzard a guess, but I'd bet that's where much of the "lost" money went, and that's why they don't want to talk about it. If you think for a minute that Barney Frank and Chris Dodd aren't fully aware of this, you are ignoring the evidence.
It is not the Federal Reserve advertising these - it is the World Reserve Monetary Exchange. Here's a story:
http://roanoke.bbb.org/article/world-reserve-monet...