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Thread: cashed

  1. #1
    jasonlulu_2000 is offline Senior Member
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    Default cashed

    A well known speaker started off his seminar by holding up a $20 bill. In the room of 200, he asked "What is this piece of paper and is it worth anything?" "It is a $20 bill, which can be cashed in international & national markets for it's quoted value?" replied one of the many participants who raised their hands.
    How can a bill be cashed since it is cash in itself?
    As far as I know, only cheque, postal order can be cashed. Am I right?
    thanks.

  2. #2
    Raymott's Avatar
    Raymott is offline VIP Member
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    Default Re: cashed

    Quote Originally Posted by jasonlulu_2000 View Post
    A well known speaker started off his seminar by holding up a $20 bill. In the room of 200, he asked "What is this piece of paper and is it worth anything?" "It is a $20 bill, which can be cashed in international & national markets for it's quoted value?" replied one of the many participants who raised their hands.
    How can a bill be cashed since it is cash in itself?
    As far as I know, only cheque, postal order can be cashed. Am I right?
    thanks.
    That's right. We don't normally say that money can be cashed, since it is cash. But the context identifies it as a piece of paper, and asks what its value is. Its value is $20 because it can be exchanged for $20 worth of real goods.
    The speaker should probably have said "It can be exchanged ..."

  3. #3
    SoothingDave is offline VIP Member
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    Default Re: cashed

    Back when we all had real money, you could trade in the paper for silver or gold.

  4. #4
    BobSmith is offline Senior Member
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