Why no $500 or $1000 notes these days?

Hey everyone, I was talking with a friend about how one hundred dollars is not that much these days. Was thinking it would be convienent sometimes to have $500 bills at least. Does anyone think that eventually we will see higher denomination notes again or are the 500 and 1000's gone forever? Any one else ever think this?

 

Log in or Sign up to hide this ad.

There are 500 Euro notes, and as such the US is starting to lose its luster as a currency that is easy to transport.

I doubt we will ever see a high denomination note ever again. This country is too much a police state, and too easily gives up liberty for a possibility of "catching a criminal".

 

If I'm not mistaken Nixon outlawed large bills to help combat drugs. That way if you wanted to get drugs you had to have a least a suitcase of cash instead of just crossing the border with single bill.

 

^ Yeap that is what Jimmie from Cajun Pawn stars said is the reason why they don't issue those notes any more, when a customer brought in 5k and 10k sister notes.

 

Thanks for the replys everyone. That is interesting there is a 500 euro note and yet our highest denomination is still the $100. Such stupid reasons for this, its ridiculous. I sure hope we see a $500 note at least in the future, but I sure dont have my hopes up.

 

I also think part of it is looking at from a usefulness standpoint. From what I have been told, the 500 Euro note very rarely is used. They tend to just sit in bank vaults. Plus, everyday the world becomes more electronic. The use of paper money is decreasing. So, based on those two reasons...I don't see a reason to print larger denomination bills.

 

I'd say the majority of people, especially younger people are no longer even carrying cash, not when their debit card is accepted virtually everywhere. No need for high denomination bills for sure, the demand is non-existent these days.

 

Yes, we have the right to bear arms, freedom of religion, freedom of assembly and the right to carry $500 & $1000 notes.

If anyone wants to buy drugs, let them use their debit card.

Chris

 

^ Well using plastic leaves a nice electronic trail for the seller to get nabbed.

 

I still have my $1000 and $500 Notes...at least I got to keep the small size collection together...lol


Maybe I should keep them for drug money one day??

 

That reminds me of a quote by 1 of my favorite founding fathers:

“Those who desire to give up freedom in order to gain security will not have, nor do they deserve, either one.” Benjamin Franklin


Methinks times have changed.

 

I don't see how not having $500 & $1000 notes is giving up any freedom.

Chris

 

Chris,

I was referring to the comment in the second paragraph regarding giving up liberty for the possibility of catching a criminal. When I read it, that quote immediately popped into my head. I should have been more specific. It just reminded me of how we "roll over" so easily these days in the U. S.

 

I, for one, think its entirely possible.
I'm also a believer in major inflation in the next 10 years too though so....

 

I'm with you there, brother. Like it or not, there will come a time when it will be time to pay the band. Continually raising the debt ceiling is like putting off going to the doctor and telling yourself your chest pain is just indigestion. That is, until the day you end up in the ER or worse.

 

Yes that's true you just might see $500 notes again, when they have the purchasing power of today's $5 note.

 

Sadly, you may be onto something. With the purchasing power we once had, I think we have gone through a rapid monetary decline. I remember today watching something on TV about the 'dust bowl' and how 5c could get you a lot and that people in the CCC (Civilian Conservation Corps) Made $1/day! And at the end of the month, sent a $25 check to their family and kept $5 and it'd last them quite a while.

 

Well, if they don't raise it and default on their bills, the result could be even more catastrophic. The problem is, they need to start the process of balancing the budget and then start working towards having a surplus, like Clinton started and handed over after he left office. Then we wouldn't need to raise the debt ceiling to keep borrowing money to pay the bills. But honestly, if they just defaulted by not raising it, it'd be like going into cardiac arrest immediately with no likely recovery option, the defibrillator would be "out of order".

But we should probably not get into politics, since it's against the rules, although this topic makes it hard to avoid.

 

The dollar hasn't been truly worth a dollar since the 1800s, quite depressing.

 

And I don't think the one shown will get your dollar back in the eyes of the BEP. I see less than 50% there!