Novelty Money: What is it and is it Legal
Novelty money? How can money be novel? Money is a novel idea of course, but what exactly is novelty money? First of all, novelty money is not legal tender. Here is where the word, “Novelty” really comes into play. This type of money is a collectible item, a gift, a gag, a funny item, a causal possession. One cannot buy anything with it, and it will not be accepted as legal tender anywhere.
This neat curiosity comes by many different names. Novelty money is also known as funny money, fake money, novelty currency, collectible money, and commemorative money. It appears under a lot of different names, but it is all basically the same thing. Fake money is defined as paper bills that look like legal tender, but are not. Fake money catches the eye. It is certainly a product that evokes interest and curiosity in those who see it, and in those who collect it as a hobby. Novelty money truly is a quirky thing, as it is made only for a gift, a gag, or personal purposes.
What Is the Big Idea Behind Novelty Money? Is it Real?
Novelty money is a genuine novelty item, but it is genuinely not actual money. It is not printed by the government, and it is not real currency, and it has no monetary value except what sellers grant it. This type of money can’t be spent, meaning that consumers cannot exchange novelty money for goods or services like they can with a government-issued legal tender. Novelty money instead follows the path of so many other novelty items, i.e. the purpose being to be used as a gift. Novelty money is made under thousands of different styles to be used as gag gifts, to commemorate an event or to show appreciation for a significant person, to promote something, or to raise awareness for something.
The reason why people ask if novelty money is real is because it looks real. Take this bill for example. It looks a lot like American currency. Some could be fooled by it. This is why it’s important to know that such bills are not real and are not legitimate legal tender.
Is Novelty Money Legal?
Yes, novelty money is totally legal. However, it is very illegal quite suddenly if one decides to use it for something else. For example, novelty money is absolutely legal to own in any quantity, but as soon as someone tries to use it to pay for something, it becomes illegal. It’s meant to be owned and laughed over, not to be spent.
Novelty money brings a lot of joy and laughter to those who own it, and to those who receive it as a gift. Fake money comes in all different styles and printings, so it’s pretty easy to find a style for anyone. Novelty money can also be used to help with fundraisers or to raise awareness for a cause or goal, further increasing the value and the usability of these funny little bills. As much fun as this money is to have, just don’t try spending it!