Legal Question in Constitutional Law in Indiana

Is it illegal to sell antique United States money for profit? I was interested in selling $1,000 bills that were printed in 1928 and 1934 by the Bureau of Engraving and Printing. Theses a Federal Reserve Notes that are no longer being printed in the United States. Is it illegal to sell them online or in a store? The the United States government have a site I can go to to read laws concerning sell money for profit?

I will also like to know if the $1,000 and $10,000 bills legal tenders? Can they be redeemed at a bank?

Please answer all these questions. I will appreciate your answers. Thank you.


Asked on 4/24/10, 4:52 pm

1 Answer from Attorneys
Jorge GEORGE Rodriguez Law Offices of Jorge "George" Rodriguez

According to the Federal Reserve on July 14, 1969, the Department of the Treasury and the Federal Reserve System discontinued currency notes in denominations of $500, $1,000, $5,000, and $10,000 due to lack of use. Although they were issued until 1969, they were last printed in 1945. These notes are legal tender and may be found in circulation today; however, most are probably in the hands of collectors due to their rarity and higher than face value. You may want to direct further questions to a collector's group such at the American Numismatic Association which can be found online at www.money.org

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Answered on 4/30/10, 7:43 am


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