The dollar savings banknote It is a classic among Argentine savers who feel safer with this investment than with other more sophisticated instruments. However, more than one of them get a headache when they receive a dollar face girl. This occurs when the official dollar is trading around $145 and the solidarity dollar, which is currently above $240.
It is the 100 dollar bill that has been on the market for several decades and that has the drawing of the face of the North American hero, Benjamin Franklin, in a smaller size to the most current designs. Hence, it is colloquially called “dollar face girl”.
That design is least preferred in the Buenos Aires exchange houses and that is why many savers reject it when a tourist or the banks give them one.
But in the following note we will tell you how to deal with your savings in small expensive dollars so as not to lose money and make your income count..
The truth about the “small face” dollar: why is it worth less?
Have a Benjamin Franklin, as they say to the $100 billsis very good, and to have many, even more, especially in Argentina, where the dollar in highly valued and coveted. However, if it is the dollar “girl face“can be a headache for more than one saver.
Why? Because in the exchange houses informal (known as caves) and small trees on Florida Street tend to pay a lower percentage for them than for the others banknotes of the same value, but they have another design, and this also happens when carrying out some transactions in dollars, even in legal circuits, such as real estate, because the other party rejects them.
The money changers found a gadget to make a difference.
Small face dollar: what it is like and how much less it is paid
The discount that is made may vary depending on the place, but according to a financial source consulted by iProfesional, These small-sided $100 bills are paid between 2% and 4% less than the others of the same denomination these days.
Those people who have already gone through this situation surely know which banknote dollar it is (it is something that one does not forget because without eating or drinking it implies losing money), but for those who do not know them, it is important to know that they are those that has the face of the famous member of the founding group of the United States in small size in the center of the note in an oval (Boy, especially compared to the most current ones, in which Franklin’s face was gaining more space).
These banknotes were printed in the United States until 1996, but are still in circulation in the northern country without any differentiation with respect to others of equal value. However, in Argentina and in other countries of the world, they are viewed with mistrust and are less valued.
Is the expensive lar dollar worth less for reasonable reasons?
But what is the reason for this situation? As Gustavo Quintana, from PR Corredores de Cambio, explains to iProfesional, “this arose because those banknotes They have a lower level of security than the new ones. and in the parallel market they began to reject them To avoid operating with counterfeit banknotes“. Beyond that, there would be no other reason to justify it.
“It is a revival because the new ones have at most one more security band”, says a voice of a financier. Furthermore, it is clear that all moneychangers have detectors apocryphal banknotesTherefore, it does not seem like a very solid argument, except for the fact that, in some countries of the region, they have the same problem and that would support the phenomenon with the excuse that foreigners who come to Argentina also reject them.
From the oldest (the one with the small face) to the newest, this is how the $100 bill changed.
So much so that Quintana comments that even “that ‘custom’ came out of the realm of caves and moved to other spaces”. For example, in transactions of real estate, cars and other goods in dollars, there are problems with the small face dollar.
But, he assures that, “technically, there is no valid reason to avoid or pay less for it“, especially because, as noted earlier, “you go to the United States and there is no problem with those banknotes of dollar“.
The last straw is that even the banks They are facing this problem because the clients who buy dollars in that legal circuit no longer want to receive the famous “small side bills“. “They come to the branch and want to receive only the most modern designs,” they say in an entity.
Small expensive dollars are paid less: does it apply to the sale?
Already tired of this type of case and of the multiple inquiries from the public and journalists on this subject, the head of communications for a bank recently called a cave in the City and asked about the value of blue.
“They sold me for $200 and they bought me for $190. I asked if the value for dollar face girl and they answered me that those were paid $180. Then, I asked if, since they are cheaper, they would sell me tickets girl face less than $200 and the answer, of course, was negative“says the protagonist of the story.
Clearly, he knew the answer, but he wanted to show the operator of Dolar blue that his offer had no valid justification. “This behavior is driven by caves to Steal to people with a minor change for the girl face“, points out the banking source.
The custom of paying more for the more new bills in the caves moved to formal settings.
Consequently, many entities have put communications in the branches in which they warn of this fraud and they deny that they are worth less so that the client is warned.
Meanwhile, a source from a financial institution points out that “it is a revival that began in a large financial institution that began to do so with the excuse that other countries do not accept them,” but, over time, it became established as an accepted truth that the small face dollars they are worth less although when it comes to selling them, they charge them at the same value as the common one and give them to the customer if he does not say anything.
And the revival of some informal moneychangers does not end there. But the source says that, In recent times, a rejection towards the banknotes $100 (yes, one hundred pesos, it’s not a typo).
“When you go to buy dollars with banknotes of the violets, they tell you that they don’t want them because to raise a considerable sum they need many. Some want to take them at a lower value because they prefer $500 or $1,000, but the BCRA continues to issue those papers and there is no problem with them,” he warns.
Do you have a small dollar?: There is a solution
However, all is not lost for those who have savings under the mattress with small face dollars. There are alternatives to change them without losing value, but of course you should not go with them to the market blue because, as explained before, there they take them at a lower value.
A possible solution, then, is to deposit them in an account in Dollars in a bank in Argentina and then withdraw them. By doing this step, they will have changed them to banknotes newer ones and, if the amount they have is large, they can do it in “instalments”, that is, over several months.
Depositing them in an account and selling them in the MEP is an option for those who need pesos and do not want to lose money.
And, for those who have to sell them directly, one option is to deposit them and then transfer them to an investment or client account to sell them on the dollar market or MEP, which has a price similar to that of the blue these days and, once Once the sale has been made, the pesos will be available in your bank account.