Release: MONDAY FEBRUARY 19, 2021
When we pay for something at the store, other than to lament seeing our money go away, we rarely give a second thought to the bills we hand over. Because they rarely change, they are, admittedly, commonplace. Time was, our bills were more ornate and the designs varied frequently....
While we may consider our bills bland, due to the strength of the dollar or the bills’ representation of freedom and democracy, US paper money is coveted in other countries. In many countries, the US $2.00 bill carries a mystique. In Ecuador they are considered lucky. In Poland, people will do most anything for them.
A while back, I traveled to Poland. Before leaving, a friend suggested I get a stack of $2.00 bills to offer as gifts and gratuities. It sounded silly but proved to be a game changer. As I offered them at Polish restaurants and hotels I was treated like a king. Poles in Warsaw and Krakow clamored for them. Each recipient considered the bill beyond precious if not magical.
While here in the states we may not be as captivated by $2.00 bills – that is on the rare occasions we may see them – a few creative marketers have tried to enhance their appearance and appeal through colorization. It works. They look great. But, at what cost?
Over the years, magazine ads have touted various colorized $2.00 bills for sale to buyers unfamiliar with their value. I say that as a result of speaking to coin and currency dealers about the worth of paper money with color images added. The dealers stated they would happily pay $2.00 per bill – exactly their face value. Naturally, the bills retail for far more.
Recently, I ran across a nicely produced ad in a national magazine. It invited readers to, “Discover NEW States of US Currency.” The ad contained several sample $2.00 bills with beautifully colorized images inserted on either side of Thomas Jefferson’s portrait.
The bills showcase a variety of images of historic and/or scenic sites in the US inspired by the 50 state quarter series of coins issued between 1999 and 2008. The color images applied to the bills fit inside the framing of the original $2.00 bill design. Each is unquestionably attractive. From what I could see, great care was taken to capture the essence of every state. All 50 states, Washington DC and the US Territories are represented. That means 56 colorized bills are in the entire series housed in “crystal-clear, tamper-proof” holders.
The ad offers the first $2.00 bill in the series for the “special price” of $9.99 (plus 4.95 shipping and service) for a total of $14.94 – said to be dramatically discounted off the regular price. According to the firm’s website, the other 55 colorized $2.00 bills will cost $34.95 (plus shipping) apiece. My calculator indicates the total for all the bills in the series would come to just over $2,200.00.
Back to the dealers with whom I spoke – the ones who said they would only pay the face value of two-dollars. Several said if they did buy one, they would put it in their $4.00 box in which everything in the box sells for four bucks. For the original buyer, that represents a loss of 90 percent from the retail price.
Understand, this is nothing new. Many firms have colorized and sold US currency for a premium. It’s not illegal. And, as I said, they are quite attractive. Various incarnations of colorized bills have been produced celebrating presidents; presidential candidates; American history; military events; and even the Kennedy brothers.
Selections are clearly based on what subject matter has the best chance of drawing attention and selling. That, plus included phrasing in the ad copy such as, “…hurry – this is a limited time offer,” and “one-and-only opportunity,” may compel people into purchasing.
As with most all mail-order purchases, buyers have 30 days to change their mind and request a refund. At such a high asking price for the bills, I’d think even people in Ecuador and Poland might consider requesting a refund.
For more collecting advice, visit www.peterexford.blogspot.com