Okay, This issue has been bugging me a lot. As most if not all of you know, I support a $200, $500 and $1,000 bill, here in the U.S. Well, I have seen from time to time on different sites, that people are mentioning a $250 bill. My question is, WHY? Would not a $250 bill be quite a bit more confusing than an even $200 bill would? Just like I could never stand the thought of the Quarter Eagle that was $2.50 with a "change" amount, which would seem even woirse to me. For some reason, a $25 bill don't sound all too bad, but I would STILL rather keep our EVEN $20 bill over ditching in for a $25 bill. As I also mentioned, I would not mind seeing eliminating the quarter and going to the 20 cent coin, if we wanted to eliminate cents and nickels and round to the nearest dime. But anyway, even though us collectors would not have much of a big problem with $250 bills, I would still not carry them much, because other, less educated people would get more easily confused counting by 2.5s over even 2s. But I would put one in my collection each time the denomination were redesigned. But I would rather have $200 bills all the way. So, what is your preference?
Zeros All money should end in zeros after the first digit. It's just easier to count and collect. Our 25¢ coin is (mostly) an aberration internationally and would hamper some desires to do away with the 5¢ coin (along with the 1¢ coin). For an example, look at Switzerland which replaced their CHF500 with a CHF200 several years ago. It was a successful transition. The CHF1000 remains, and is one of the highest denominations of widely circulating currency outside of Singapore and The Sultanate of Brunei.
Why should things be easier? It would have been easier if the pilgrims just gave up their religion and stayed in INgland. Maybe they should have a two and two thirds dollar bill, 3 would make 8 dollars and 75 would make two hundred dollars. Wouldn't it be easier if we just did away with public education and just gave everyone a college phd at birth? Okeh, I am being facetious, but gee whiz, how retarded are we getting that we can no longer do simple addition?
I agree 100% This is why I wish they'd chose to keep the 20 cent coin instead of the 25 cent coin when both were circulating. I have also heard that a 20 cent coin would be the key to a sucessful, widely circulating 50 cent coin. Why would they get rid of their CHF500 for a CHF200, yet keep the CHF1,000? That doesn't make any sense. Especially if they were doing it for organized crime or due to lack of use, because, wouldn't the 1,000 see less use than the 500? Again, if they still circulate a 1,000, then why get rid of a 500 and replace it with a 200, creating more of a gap in between denominations?
I vote indifferent as to which denomination should be used: $200/$250. The poll is missing that choice. Either denomination would work as a monetary device and they'd spend like anything else too. They are easy enough to count, by human or machine. Either note would also be collectible/collected. In all likelihood, US paper money goes away entirely before you'll see a new denomination in circulation under the current form of Federal Reserve Notes. An unknown process, in modern US currency, of making the case for a decision to add a new denomination to our currency would have to be over come. This would entail seeking the approval of such a move, decisions would have to be made just to reach the stage of doing feasibility reports, then there has to be approval of financing, costs and effort spent designing, preparing printing facilities, test printings, actual printing, distributing and above all else, educating the public on these notes to teach them that they are safe, secure and authentic, and that they should use them! As it stands, we're yet to even see the last addition to the design changes of our existing circulating currency line up reach circulation. The newer designs have taken more than a decade to roll out from the $5s to the new $100 note. The $100 has been fraught with technical problems and remains held up, behind schedule and has wasted buckets of money to date trying to figure out the glitches, and we can't even get hold of them to spend them, nor collect them. By they time they figure it out they'll have to ditch all the current signature plates because the Treasury officials are likely to be replaced. The lowly yet mighty symbolic $1 is facing it's demise at every turn, as ordinary citizen, politicians and even collectors voice opinions for $1 coins in place of paper $1 notes. While other nations convert from paper to polymer, the US is likely to hold onto paper until circulating paper money is removed from circulation in favor of digital banking and forms of payment. It doesn't really matter whether you pick a $200 or $250 denomination at this point. The thing that will confuse people the least is a digital format that doesn't require them to count at all. Just mindless swiping at some arbitrary number given as the value/cost for the purchase they are making.
If it weren't for the federal government wanting to make large cash transactions more difficult for the crooks, we'd still have $500, $1000, $5000 and $10,000 bills. I last saw one $500 bill in circulation in 1983 and in 1970, my parents sold their home and my dad let me hold ten $1000 bills for just a few moments. Wish I had them now. So, talking about larger denominations above $100 is probably just talk. The FBI, BATFE, etc. dislike anything larger than a C note. One bundle of a hundred $10,000 ($1,000,000) fits inside a breast pocket of a jacket quite nicely. Whereas 10,000 $100 bills requires a briefcase (100 bill bundles times 100 bundles). If you were in law enforcement, which illegal transaction would be easier to spot on a street corner?
See my point? Now, cut that volume by 2 or 2.5 or better yet, by 100 ($10,000 bills). Had it been $10,000 bills, there would have been only 20,500 bills or 205 one hundred bill bundles. Two briefcases is all it would fill.
I hate meth! Here were the Money is but US drug company pay congress & senate not to make it legal. Its the USA 1# cash crop 2 trillion a month is made world wide.Why not tax it and sell it like beer&whiskey ??? http://youtu.be/e23_HYLvFzE http://youtu.be/MeJvneQkPBM
The circulating/widely used denominations of Japanese Yen: ¥1,000, ¥2,000*, ¥5,000, ¥10,000. *not so widely seen, much like the $2USD in circulation.
While I made no comment earlier, I have to disagree with the rationale. Drugs are profitable and the monies gathered from the sale will be accepted and used in any form they can take it in. Whether it was large or small denomination bills, they'd use it in some fashion. This was Mexico so the dollar is the strongest "local" currency they seek as well it is the currency from the market where the product is mostly destined to be sold, so the cash comes back in whatever denomination it's collected in from sales. Change locations geographically and the pile of money changes size, whether it's Euros or Roubles, et al. If they really wanted to reduce the pile, they would only accept diamonds or gold coins from buyers, or the middle men would have to do it before funneling the cash back into a central location like this bust shows it gathered together.
Currently 10,000 yen equals 128 USD. Sounds bigger than it really is. What about the african country that had hyper inflation and issued $10,000,000 notes?
Yes and large denomination alone becomes meaningless in the face of out of control inflation. Just because the number is big doesn't make the note more useful. You can carry what appear to be large denomination notes and yet only buy about the same with ¥10,000 as you might with $100. Zimbabwe's was emergency currency issued in an attempt to keep up with hyper inflation. It didn't make people any more wealthy for having these notes nor criminals any more burdened to do their thing.
I agree that purchases can be made in other forms (rare art, coins, diamonds, etc.) but that has to be converted to something else that is easier for everyday transactions (like buying fuel for your jet, cars, etc). Cash is so much easier to use than carrying around diamonds or rare coins. Next time I buy a vehicle, I'll see if they'll trade it for a handfull of coins (high numismatic value) with a face value much much less than the value of the car. I'll bet it's more difficult than walking in with a few bundles of $100 bills.
I can see the point that $100 now doesn't purchase as much as it used to and that larger denominations would make sense. I would like to see larger denominations return but it is highly unlikely due to law enforcement agencies mandates.
You never know, a lot of people are getting wise to PMs and may accept an offer of gold coins for at least their melt value towards the purchase of most anything. People do come to these forums and report buying property with precious metals, tell of stores that accept PMs for purchases and plenty of people feel the need to save up junk silver for everyday needs should it become more common. I wouldn't underestimate what the criminal world could be up to, paying off people behind closed doors for access to jet fuel, cars and weapons as well as buying food, medicine and anything else they need to get by living outside the law or with false identities.
It has less to do with that than you think. There is actually no demand for the notes, because they are actually impractical to use in everyday purchases. Drop one of those $500 or $1000 notes in a Target, gas station or grocery store and the clerk is likely to be unable to make change for you. It's been written about and explained here before, so I'll look for an old thread about it, unless someone comes along and reexplains the disappearance of US large denomination notes for us. Edit: Added the link to another thread on large denominations notes - lack of demand. It's one of Drago's threads too.
My banknote structure would be the following... $10, $50, $200, $500 My coin structure would be the following.... 10c, 50c, $2.00, $5.00
