NetNews Usenet Archive 1992 #31/NN_1992_31.iso/spool/misc/consumer/21388

Text File | 1993-01-01 | 1.7 KB | 37 lines

Newsgroups: misc.consumers
Path: sparky!uunet!gatech!paladin.american.edu!howland.reston.ans.net!zaphod.mps.ohio-state.edu!uwm.edu!caen!destroyer!ncar!noao!stsci!wmorgan
From: [e-mail] (Windsor Morgan)
Subject: Re: Legal Tender?? A different Twist
Message-ID: <[e-mail]>
Sender: [e-mail]
Organization: Space Telescope Science Institute
References: <[e-mail]> <[e-mail]> <[e-mail]>
Distribution: usa
Date: Fri, 1 Jan 1993 20:07:49 GMT
Lines: 24

>Rhonda Gaines ([e-mail]) wrote:
>> How much of a dollar bill ($20 bill to be exact) do you have to have
>> before it's spendable?  My husband found 3/4 of a $20 bill and
>> figured that it's probably unspendable but I thought I'd pose the
>> question anyway.  Replies to [e-mail]

In article <[e-mail]> [e-mail] (Mark Phaedrus) responds:
>     When I ran into a similar situation, my bank told me that the Federal
>Reserve uses a "rule of thirds".  If more than two-thirds of a bill is
>clearly present, the bank can return it to the Federal Reserve for full
>value.  If more than one-third, but less than two-thirds, of the bill is
>clearly present, the Fed will give half face value for it.  If only one-
>third or less of the bill is present, it is worthless.


I read in the latest National Geographic (January 1993 or December
1992) that at least 51% of paper money must be present to be
reimbursed in full.

--
'Verily, there be no leader as wise as the Vision!'
                         Windsor Morgan ([e-mail] OR [e-mail])
                         Space Telescope Science Institute
                         Baltimore, MD   21218