Former Hendrickson acolyte lashes out at him

[Nikki]

Which makes a great deal of sense.

In addition to needing a much smaller display (only 100 of the notes are needed) than $100 FRNs would require, the $1,000,000 is almost guaranteed theft-proof.

There is no possible way for ANYONE to negotiate those bills without having to answer many questions. Unless someone wanted them as collector's items, they are effectively as valuable as shares of Enron stock.

[.]

as valuable as shares of Enron stock.

A little Enron trivia. Believe it or not, the post-bankruptcy value of a pre-bankruptcy Enron share appears to be some very small fraction of 2 cents. Now called Enron Capital Resources LP, it trades as ECSPQ. Volume on 8-2: 400 shares. Someone bought $8 worth.

This outfit is apparently some remnant of the gas pipeline business. I haven't looked into the gory details and machinations of the bankruptcy, but there are a few things that can be roughly calculated based on some general assumptions. Since there are only 3 million shares of ECSPQ outstanding, assuming all holders of Enron participated equally it would appear that it took about 283 Enron shares to wind up with one ECSPQ share, as there were about 850 million shares of Enron out. Those numbers may need to be tripled as the price chart of ECSPQ shows the '01 collapse from ~$30, not ~$90, the actual peak price at the time, implying both some sort of 3 for 1 split post-bankruptcy and that ECSPQ is a direct successor to Enron.

That would mean that 2 cents represents the current market value of $76,500 worth of Enron shares at the pre-implosion peak, a loss of a mere 99.99997%.

[Dezcad]

Well.....as to $10,000 bills, I seem to recall a casino that had a million dollars on display and the bills in the display were of the $10,000 denomination (with Salmon P. Chase on them).

You're probably referring to Binion's - http://www.lasvegasmikey.com/million.htm, which display was sold in December 1999

The display was the largest single collection of $10,000 bills in existence. Distribution of the megabill, featuring the portrait of former U.S. Supreme Court Justice Salmon Chase, was halted by the Treasury Department in 1969. Though the bills are still legal tender, they are removed from circulation once they're obtained by banks.

Today, the Treasury Department says only 340 $10,000 bills remain in circulation -- meaning the Binion's display accounted for a full 30 percent of the bills in circulation. That made the bills far more valuable than their face value.

Binion's current $1 Million display has no bills larger than a $100.

http://www.binions.com/million_dollar_photo.php