Not in the money . . . Janet Coveney recently discovered her $10 was worth only $8. Photo: BRUCE THOMAS
Not in the money . . . Janet Coveney recently discovered her $10 was worth only $8. Photo: BRUCE THOMAS

Dollars ain?t dollars when it?s a $10 note

By CRAIG McTEAR

TEN dollars probably won't buy you much these days, particularly if your money is really only worth eight dollars.

That's the bemusing predicament for Coffs Harbour's Janet Coveney following an encounter with the Reserve Bank.

Her story begins with one of her children, who was sick of carrying around two defaced notes which had come into his possession.

The $10 bill was substantially torn at one end, with some serial numbers missing, while a $5 note was in much better shape. Janet's son gave the notes to her, in the hope she'd be able to do something with them.

Janet went to the ANZ Bank because she was told it was an agent for the Reserve Bank.

She handed over the $10 and $5 notes at the ANZ, and was then told they would be in touch with her when her money returned from the Reserve.

Janet expected the cash to be replaced in full, but unfortunately, that wasn't to be.

While she got full value for the $5, the Reserve Bank valued the $10 at only $8.

"When I think about it, I probably shouldn't have been too surprised about the outcome," Janet said.

"I felt stupid doing it, but I thought I'd give it a go anyway, because it didn't involve me going too far out of my way.

"But what I'm not entirely happy about is the Reserve Bank short-changing me."



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