Should the U.S. have $200, $500, and possibly $1,000 bills?

Does anyone here think that, with the U.S. dollar weakening, and with the Euro having a 500 Euro note worth around $850-$880 $U.S., shouldn't we have at least a new $500 Federal Reserve note?

I think that, with the Treasury printing so many $100 bills, especially for crisis issues overseas, and with the demand for $100 bills growing, wouldn't a $500 bill help the government keep up with the pace of the demand for $100 bills being printed, and even toss in a $200 bill to help reduce printing $100s as well? Also, the only reason I suggest a U.S. $1,000 bill as well, is because the 500 Euro is almost a U.S. $1,000 bill.

I don't think that the U.S. government should worry about the drug wars and money laundering and counterfeiting. The crime ring is learning its way around anything and everything anyway.

Also, there is inflation. A $1,000 bill today, would buy what a $100 bill bought back on the time of July 14, 1969, when the $500, $1,000, $5,000 and $10,000 bills were discontinued. So, in reponse to the question: We did not have 25 cent bills back in the 1970s, so why do we need $1 bills today?" I question: We had $100 bills back in 1969, so why can't we have $1,000 bills today?"

So I say, issue at least a $200 bill, and reissue the $500 bill, and if things go well with those two denominations, then consider reissuing $1,000 bills.

This reminds me of a good question. I have read on many government sites that, if the Secretary of the Treasury wants, he could order new $500s, $1,000s $5,000s, and/or $10,000 bills if he chose to do so, as the Secretary STILL has the authority to order the BEP to print these denominations. I also read that the Federal Reserve could order new $500 bills if they wanted to, and if they did, the Treasury would have to print them to meet that demand. I know for sure that Congress would have to pass legislation for a new $200 bill, as the U.S. Treasury has never been authorized to print a $200 bill, but then I wrote a letter to the Treasury, suggesting at least new $500 bills, and the person that responded to my letter, said it would take an act of Congress to reinstate the $500 bill. So, which is true? Can the Secretary of the Treasury order new $500 bills, or would Congress have to okay it first? I'm so confused on this issue. :headbang:

I'd still like to walk into a casino, slap down a $1,000 bill on the counter and tell the clerk, "A $200, a few $100s and the rest in $5s, $10s, $20s and $50s, please" :hail:

Sometimes I get annoying with these topics, because, as I said, I sometimes forget what I post. So if I forget and post things I already posted, let me pre-maturely apologize. :smile

 

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Yes, I would agree! Iam not sure about a $200 bill but definitely the $500
And $1,000 for sure!!

 

Yes,I think it would circulate with the devaluation of our currency due to inflation.
Maybe even a retro die in stock at the BEP, Intaglio back with a hidden security detail,making it harder for the North Korean Government from counterfeiting it.

 

That was the main reason in the beginning if I am not mistaken.
Will it ever happen? Yes, when rampant inflation dictates it. Then and only then will our fall from Grace be complete. At that time a new World currency will surface, most likely out of China. Just my $2 worth.

RickieB

 

Actually, the US Dollar is strengthening versus both the euro and the pound. These facts are freely available with a few seconds of google; here's one source :

http://www.oanda.com/currency/historical-rates

For some reason, our media prints only bad news. When the dollar strengthens, they are silent, which leaves a warped perspective in our minds. Strange.

The vast majority of the $ value of commerce is done electronically. The more the better; virtual money has always been safer than tangible. As time goes on, all forms of physical money will become less important.

 

The strength is coming in only fractions of a cent, when you look at the real picture our dollar is is only worth ~2/3+ of 1 Euro. I cant wait until that evens out again.

www.kitco.com is another site I watch daily.

RickieB

 

The only major problem I see with new $200, $500 and $1,000 bills is that, there was an article I read not too long ago that said the BEP has printed some 2 billion less banknotes in the recent years, due to more and more people using cards and checks. Which is strange, because, I told my mom about that article, and she said "Really? Because, your father just got done telling me that credit card companies are suffering a loss now, due to people using cash instead" Go figure.

mpcusa: What would be so bad about $200 bills? The Euro contries have the 200 Euro note, and a $200 U.S. bill would save money on printing even less $100 bills. However, if a U.S. $200 bill is ever printed, the government should BAN those fake George W. Bush $200 bills as counterfeits and tell people they must turn them in, to be destroyed, so that less intellgent people are not duped, like some already think the Bush bill is real. (I know not everyone would be so willing as to turn in their Dubbya bills, but otherwise, place a federal offense law IF people try to pass the fake Bush bills as real money, if they are caught)

That, and I had the idea of Theodore Roosevelt going on the fromt of the bill and an image of Mount Rushmore on the back. Putting Teddy on that bill would make sense, seeing as he is the only President on Mount Rushmore without his own coin or currency denomination. The other three have two: George Washingtom: $1 bill and quarter. Thomas Jefferson: $2 bill and nickel. Abraham Lincoln $5 bill and cent. Also, they will get or have already gotten their own Presidental $1 coin, making it three units of circulating U.S. currency for the other three, and only one for Teddy if not a Teddy $200 bill as well. Its time to give Teddy HIS turn. :hammer:

 

Actually we used to have 500s, 1000s, 5000s, etc.

I agree that I think they should resume the printing of 500 dollar bills... I think they would be very useful

 

Here is the $500 and $1000 from the last Series 1934A






RickieB

 

Awe and shock!
These are so beautiful!!! drool....
I have only seen these a couple times for sale and each time ttheyre eitheir overpriced for the grade or by the time I run to the atm and ocme back ,someone else boguht them... tear
Well rickie B must say your collection is true inspiration

 

When I went to my first ever coin show this past October, the first ever note I saw was a $1000 bill. (Later stolen, as it was in Julian Leidman's case )

It was amazing to actually see something that I had only read about before. I don't handle a lot of high end currency, I rarely see a $50 and I have not handled a $100 bill in 9 years now, I think.

I don't think they should have ever stopped printing them, even if it's just purely academic thought wise. I would never be able to have one in my collection, the face value alone is more then I get a year for numismatic purchases.

 

It's all about ratings. It's along the same scenario as to why people pull over/look at accidents, fires, fightings etc..

Also because good news is boring (hate to say it but it's true)

 

The $500+ were discontinued in 1969 due to lack of demand. The story about money-laundering concerns came along later, in the '80s, when Congress came close to discontinuing the $100 denomination for that reason.

What happened in 1969 was that the Federal Reserve finally ran low on $500's, some twenty-five years after the last printing in the '40s. That's when they decided that, if one printing had lasted *that* long, it just wasn't worth anyone's trouble to update the designs to allow for a new printing. (The currency designs had been resized twice since the Series 1934 high-denomination notes, so there would've been quite a bit of work to do in order to create a Series 1969 $500, not merely a signature change....) And as long as they were discontinuing $500's, they pretty well had to discontinue the higher denominations as well.

 

With inflation between 1969 and now, a $500 bill would be most welcome. I recently paid cash for a used car. Asking for 8 $500 bills and 3 Benjamins would have been easier than 43 $100 dollar bills. Just my two Lincolns.

 

What ever the reasoning, I say bring them back!!, If nothing else you can
Impress your date!! When you whip out a $500 or $1,000 dollar bill and
Say to the waiter, Thats the smallest i got!! Chances are your in for a
Good time after dinner woooooo!!

 

Rusty,
I tried that with this bill & it didn't work !

 

I never EVER have more than $100 cash on me let alone carrying a $500 or $1000 bill. Not for nothing, but i'd be weary of whipping out a $500 or $1000 bill and on top of that if you used one of those bills in a retailer, restaurant, etc. you'd wipe out one registers whole drawer. Even when they were printing those bills they were mainly used for large transactions between businesses and banks and even with inflation they still don't seem practical for the average person to carry and use.

 

Just use euros.
Many problems solved and not at my expense.

 

Lets start a petition to bring back at least the $500 bill.
We could od it and they would listen, many people would like to see the $500 bill back.

 

There is a reason why some people here in the euro area call the €500 note "Bin Laden". Everybody knows it exists, but hardly anybody actually gets to see it ...

Here those notes are primarily used in Spain, it seems. Roughly 25 percent of all €500 notes circulate there, and account for two thirds of the cash volume in Spain. Whether it makes sense to have them - don't ask me. I do use a €100 note once in a while, but that is about it. Usually 50 is the highest denomination I carry with me. 200, 500? Where should I use those? They may come in handy when buying a used car from a private seller, but I rarely do that.

Christian