Remember that ad for doctored “state” $2 bills that ran in newspapers across the country? Now the “World Reserve Monetary Exchange,” the company that takes regular $2 bills and places stickers on them to turn them into state versions of the bills, has taken out a two-page spread of this week’s Newsweek.
The ad asks you to call a hotline and order four $2 bills for $12 during an unspecified 48-hour introductory period, after which the price shoots up to $17 per bill, shipping included. The bills are worth only $2 each and have no collectible premium value, according to a coin collection authority I interviewed in my article about the company in the Arizona Daily Star. The Better Business Bureau of Southern Arizona issued an alert, which is summarized in this Tucson Citizen post:
BBB offers these tips for consumers shopping for collectible coins and bills:
* When you see an offer advertising rare coins or bills, call a local coin shop to verify that the offer is legitimate. You can also visit the U.S. Treasury’s Bureau of Engraving and Printing Web site, http://moneyfactory.gov.
* Collecting is not investing; not all collectibles will gain in value over time.
* Make sure the entity issuing the collectible coin or bill is a government entity. Often times you can find this information in the fine print at the bottom of the advertisement. Be wary of any private company claiming to be selling rare, recently issued currencies.
If you notice the ad in any other national magazines this week, please let us know in the comments.