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I got a fake "old" $100 bill at the Taj about two years ago. Found out it was fake when I tried to cash it at a Subway in NYC.

I returned it for 20 red chips at the same cage I got it from a week later.

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They didn't confiscate it from you in NY? Messed up.

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You really think Subway wants to try to tackle this? They don't KNOW the bill is a fake. They suspect it is. If they confiscate it and refuse to compensate someone, and it turns out the bill is not counterfeit, boy are they asking for it. I would be a most displeased customer if I ended up spending an hour at a Subway because some schmuck of a store manager THOUGHT these new fangled bills with funny colors were fakes. I fail to see what legal ground they stand on to seize your property based on suspicion. But IANAL and perhaps there are good samaritan provisions to allow it. But it's really a lose/lose proposition for the business to try to grab it.

One thing keeping the good citizens of the country from stopping the circulation of these is that you're basically playing hot-potato with 'em. Whoever ends up holding it at the time the music stops is out $100. So there's no incentive to do the right thing and turn it in and instead folks just keep passing 'em around even when they're pretty sure it's bad hoping the next person will accept it.

I did have a problem once at an Arby's. Hand 'em a pretty multi-color new bill and the clerk laughs and pushes it back. I push it forward and the clerk gets very serious and says "sir, it isn't funny anymore" and pushes it back to me. I don't try to argue with her and just tell her to get her manager. He comes over and rolls his eyes and tells the register clerk "I TOLD YOU about these new bills!"