A used note is a

banknote A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable instrument, negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes w ...

that has been in

circulation Circulation may refer to: Science and technology * Atmospheric circulation, the large-scale movement of air * Circulation (physics), the path integral of the fluid velocity around a closed curve in a fluid flow field * Circulatory system, a bio ...

(as opposed to a freshly

printed Printing is a process for mass reproducing text and images using a master form or template. The earliest non-paper products involving printing include cylinder seals and objects such as the Cyrus Cylinder and the Cylinders of Nabonidus. The ...

, uncirculated banknote).

Blackmail Blackmail is an act of coercion using the threat of revealing or publicizing either substantially true or false information about a person or people unless certain demands are met. It is often damaging information, and it may be revealed to f ...

ers and people demanding

ransom Ransom is the practice of holding a prisoner or item to extort money or property to secure their release, or the sum of money involved in such a practice. When ransom means "payment", the word comes via Old French ''rançon'' from Latin ''re ...

s are often heard in

movies A film also called a movie, motion picture, moving picture, picture, photoplay or (slang) flick is a work of visual art that simulates experiences and otherwise communicates ideas, stories, perceptions, feelings, beauty, or atmosphere ...

to ask for a sum of

money Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money ar ...

"in used notes". Used banknotes are preferred by

criminals In ordinary language, a crime is an unlawful act punishable by a state or other authority. The term ''crime'' does not, in modern criminal law, have any simple and universally accepted definition,Farmer, Lindsay: "Crime, definitions of", in Can ...

because they are more difficult to trace. Blocks of new banknotes will be in sequentially numbered order.

Collectibility

Used bank notes are less desired by

collector Collector(s) may refer to: Arts and entertainment * Collector (character), a fictional character in the Marvel Comics universe * ''Collector'' (2011 film), a 2011 Indian Malayalam film * ''Collector'' (2016 film), a 2016 Russian film * ''Collec ...

s in comparison to uncirculated bank notes. However, many old, rare bank notes are valuable to collectors when uncirculated notes are not available at an affordable price.

Removal from circulation

In the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., federal district, five ma ...

, when the quality of a used note becomes sufficiently degraded, it is removed from circulation by the

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...

. Each Federal Reserve Bank operates numerous

count room Count (feminine: countess) is a historical title of nobility in certain European countries, varying in relative status, generally of middling rank in the hierarchy of nobility. Pine, L. G. ''Titles: How the King Became His Majesty''. New York: ...

s, in which at least two employees process banknotes that were received on deposit from a

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Becau ...

. Used banknotes are fed into a large counting machine, which verifies the amount of the deposit and also identifies degraded banknotes. Any banknotes not meeting certain quality standards are immediately

shredded Shredding, shred, shredder, or shredders may refer to: Equipment * Industrial shredder * Paper shredder * Scrap metal shredder * Woodchipper, or tree shredder Arts, entertainment, and media Films * ''Shred'' (film), a 2008 film by David Mitchel ...

by the machine. The shredded remains of used banknotes are sometimes offered for purchase as a

novelty item A novelty item or simply novelty is an object which is specifically designed to serve no practical purpose, and is sold for its uniqueness, humor, or simply as something new (hence "novelty", or newness). The term also applies to practical items wi ...

References

{{DEFAULTSORT:Used Note Currency production Banknotes Bank robbery