Bank Notes
Posted 11/14/2008 @ 12:50:11 pm by iretirecomfortably.com
Bank notes are promissory notes also known as a bill, paper money and even a note that issued by a bank. These notes are to be paid back on demand and sometimes can be paid back in gold, silver, or other assets. Bank notes are merely the currency you carry around in your wallet.
In the United States, the Federal Reserve is the only bank that can print and distribute bank notes. Every bank note has symbols on them identifying that they have come from the Federal Reserve. Also as the years have gone on the bank notes have increased security features. The newest notes have multiple colors on them which were added to make them harder to duplicate. Bank notes also have water marks embedded, holograms and many other security features to decrease the possibility of counterfeiting. Bank notes over time are destroyed and regenerated. However, some companies are willing to buy notes from you. Bank notes are collected by banks due to every day wear and tear. At the same time counterfeit bank notes are destroyed unless they are needed in the court system as evidence in a case. Bank notes or currency are what keeps this country under control. Currency is used in everyday life for everything you do. You work for bank notes which then you use to purchase a house, food, and everything you need to survive. The notes then will continue to circulate throughout the country moving from one person’s hands to another until finally it is mutilated or torn and then destroyed. |
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