Trump cashed a 13 cent check sent as social experiment on richest people

[Demovictory9]

One of President Donald Trump's most frequent habits is boasting about his immense wealth. But he's not above cashing a check for 13 cents.

Back in 1990, a New York-based monthly called Spy magazine decided to run a little social experiment. So it sent out letters to 58 of the richest people in the city that contained checks for $1.11 for "services that you were overcharged for."

Remarkably, 26 people cashed them, so Spy magazine kept sending the checks but cut the amount, this time to 64 cents.

When 13 of those 26 cashed them, the magazine sent those 13 respondents a 13- cent check. Only two people cashed them this time: one was a Saudi arms dealer, and the other was Donald Trump.

https://patch.com/district-columbia/washingtondc/donald-trump-once-cashed-13-cent-check-incredible-true-stories

[Takket]

1. he cashed it because he is a bankrupt fraud who lies about his wealth

[bearsfootball516]

2. I'm about as anti-Trump as you can get.

But I've seen this story before, and I'm not really sure what the point is. Yeah, it's funny that he cashed a check for 13 cents almost 30 years ago. Does it really matter?

[CincyDem]

3. I may be more anti-trump than you and I have nothing but a bit fat "so what" on this one.

I assume that any business that handles checks from tenants and/or licensees, it's unlikely that DJT personally opens the checks. Someone opens them and stamps them with a "for deposit only" stamp, possibly without even looking at the amount. Even if they did see the amount, it's not the bookkeeper's role to decide this is the check that isn't going to be deposited.

I had a CFO for a couple years that would chase that $0.13 from here to next Sunday if that's what it took to balance the books. In his mind, if it didn't balance to the penny...it's not about the penny, it's about what bigger problem that might mean. Sounds anal but he was right and several times his "must balance" attitude made us a lot of money. I probably would have deposited the check only to make sure that everything balanced.

Whatever...there is so much more to be crazy about with this guy, this story doesn't make my hit list.

[global1]

4. If The $0.13 Was Put Into An Interest Bearing Account Back Then.....

I wonder how much it would be worth today? (sarcasm)

[dumbcat]

6. I'm sure he never saw the check

One of his staffers opens all his mail and there is sure to be a procedure for dealing with checks received, whatever the amount. It was probably one of a hundred transactions some mindless flunky performed that day.

And maybe I'm just anal about such stuff because of my finance background, but it I get a check for 13 cents, or one cent or no cents, I'm gonna cash it just due to my sense of order and accuracy of accounts. I hate it when I send a check to someone as a birthday gift or something and they don't cash it for months. It perturbs the order of the world.

[KelleyKramer]

8. So, how come 56 of the 58 rich people did NOT cash it?

Just following your little theory there, why did almost all the others toss the tiny checks?

[GusBob]

11. 32 did not cash the original checks. Good question

After that they only sent checks to the 26 that did cash the 1.11
Of those 26 , 13 cashed the next check at .64
Of those 13, 2 cashed at . 13

Your question is valid, I am guessing that some checks may have been sent to the wrong address. I am also guessing that some could not find an invoice to match any service rendered.
Some may have investigated to see if they were due more refund money. ( I think once you cash a check that settles the account and even if you are owed more you can't get it). Some just blew it off.

Why the next 24 did not cash the lower amount checks is the interesting part of the experiment

[mnhtnbb]

5. So what? Do you pick up change on the street?

What does it take for you to bend down and pick up a coin?

A penny? A nickel? A dime? A quarter? Or do you only bend down for paper money?

It was probably a secretary who endorsed it and deposited it anyway.

[Duppers]

14. Exactly. He had instructed staff

To deposit every ck that came in. Still, it was a strange judgement call on someone's part.

[ecstatic]

7. Interesting. I've had a few occasions where I forgot to deposit checks under $40

before the expiration date. I guess that's why I'm not a (fake) billionaire.

[B2G]

9. Do you really think he opens his own mail? Nt

[Initech]

12. Given his ties to Putin I'm sure he has someone open his mail for him.

[GusBob]

10. I worked in an office that routinely got checks under $1

In order to balance the books and settle accounts they went in the bank

[Snotcicles]

13. He used 14 cents worth of Sharpie to endorse it. nt

[Ilsa]

15. I used to do bookkeeping work on uncashed checks for

a big business. If the checks are a certain number of months old and still uncashed, the business had to send that amount to the state under escheat laws. It is easier and cheaper if the customer just cashes them.

[Achilleaze]

16. Mammon himself is a frikken republican