For Immediate Release

April 6, 2006  

District Attorney Nola Tedesco Foulston is warning consumers about an advertisement appearing in today’s Wichita Eagle on pages 4B and 5B.  The headline reads

“Free money giveaway kicks off new $10 bills.”

 These pages, designed to look like a regular newspaper article, are in reality an advertisement.  In very small print in the middle of the top of page 4B overprinted with gray ink, making the word difficult to find at best, is the word “Advertisement.”  Also overprinted with gray ink in the upper left hand corner of page 4B and the right hand corner of page 5B, are the words “Universal Media Syndicate^TM Advertising Feature.”

 The advertisement reads in part, “A command will be carried out by the World Reserve Monetary Exchange at precisely 9:31a.m. today.  This allows those who live in the local area to start calling the Regional Hotline to get free money.”

 This is a scam – there is no “free money.”

This is what consumers need to know:

Ø            By calling the numbers listed in the ad, the caller learns that contrary to the representation that this is a free money giveaway, the caller can purchase a full uncut sheet of new ten dollars bills (16 bills per sheet) in a “ledger cover” for $387.00 plus shipping charges of $12.90.  If one makes this purchase, the caller also receives an old ten dollar bill without additional charge.

 

Ø            The United States Bureau of Engraving and Printing – the governmental agency which actually makes the money – also sells uncut sheets of currency. It sells an uncut sheet of the “old” $10 bills (16 bills on a sheet) for $249.00 (not $349) with no shipping and handling charges.  One can also purchase an uncut sheet of the new $l0 bills (16 bills on a sheet) for $249.00 with no shipping charges.  The website is www.moneyfactory.gov and one can purchase bills from that site.

 

Ø            The “World Reserve Monetary Exchange” (WRME) is not affiliated with the government but, rather, is a private company that has purchased sheets of $10 bills and is selling them to the public for a fee (which is not illegal despite the ability to buy the sheets direct from the Bureau of Engraving and Printing for much less money and with no shipping charge) even though the headline reads” Free money giveaway.”

 

Ø            There is a picture with the words “Hotline operators at the National Control Center are manning their stations…” -- this is not any type of government sponsored hotline.

 

Ø            The advertisement goes on to state, “With this new space age technology embedded in the new $10 bills it’s impossible to imagine just how valuable they could become.”  How valuable are these bills? According to Heritage Galleries and Auctioneers, which specializes in currency and other collectibles, “Our experience has shown that on the secondary market, the value of most post 1970 uncut currency sheets average between face value and the initial selling price from the Bureau of Engraving and Printing.”

 

Ø            Although the advertisement itself and person answering the call make it sound like there is a sense of urgency to purchase these bills, there is none.  One can purchase these items from the Bureau of Printing and Engraving at the website given above.

 

In summary, consumers should always be alert and wary of any offer that conveys: