Thuy Phan/Nguoi Viet
What is it about the lure of brand new $2 bills that sends Asian Americans into a tizzy when the Lunar New Year rolls around? Luck and superstition could have something to do with it, and anything brand-spanking new probably doesn’t hurt either. Whatever the reason, area banks are stocking up on new money, with the rare $2 bills thrown in to make sure their clients are happy and ready for the Lunar New Year.
Brand new, crisp bills are in high demand around Lunar New Year. The $2 note was first authorized in 1862. Today, it is rarely seen and represents less than 1 percent of all notes in circulation.
Long Truong, 23, who is the lead teller at the Wells Fargo branch at 9550 Bolsa Ave., in Westminster said the bank began ordering new money in preparation for the demand back in November.
“We’ve been handing it out since,” Truong said. “We recently ran out at this branch but expect another round of new money to come in by next week.”
In Vietnamese, the name for the New Year is Tet, and this year, it falls on Feb. 8. Following the zodiac of the Chinese tradition, 2016 celebrates the Year of the Monkey.
Although each branch is allocated a certain amount of new money to have on hand each year, certain branches will shift the money to higher traffic locations to counter the demand.
“During past Lunar New Years, if we ran dry, we might have to find another branch and transfer the new bills to accommodate our customers’ requests,” Truong said. “It all depends on what the customers want, and it is never a set pattern.”
As part of the Lunar New Year tradition, lixi ― red envelopes containing money ― are given to children and unmarried relatives as a symbol of good luck. The envelopes usually contain new, crisp bills in varying denominations.
Tim Nguyen, a customer service specialist at East West Bank located at 9032 Bolsa Ave., in Westminster said the branch has placed orders for new bills for customers in the past and continues to do so every year.
“First of all, they have to bank with us,” Nguyen said of the customers who come in to get new bills. “That’s a must. We’ve placed orders for $5,000 to $10,000 in new money for certain clients, but that’s rare.”
Ironically, Nguyen said, people are excited to have new bills for the new year, but inevitably will return large sums they didn’t use and just “deposit it back to their accounts.”
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