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<p>[QUOTE=&quot;NOS, post: 4719561, member: 2098&quot;]Not true, no. Retiring denominations would require approval by Congress. If this was so much as proposed or introduced into legislation we would have all heard of it. Some, such as former Secretary of the Treasury Larry Summers, have sought to encourage the retiring of the $100 bill to thwart money launderers and the like: <a href="https://www.businessinsider.com/larry-summers-defends-ending-100-dollar-bill-2016-2" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.businessinsider.com/larry-summers-defends-ending-100-dollar-bill-2016-2" rel="nofollow">https://www.businessinsider.com/larry-summers-defends-ending-100-dollar-bill-2016-2</a>. However, this was swiftly opposed by government officials as the U.S. $100 bill is the currency and denomination of choice around the world to be held by foreign governments and citizens alike.</p><p><br /></p><p>The devices used work quite well, particularly on the $100 note. Nearly all counterfeit notes that circulate are outside of banking contexts. When you go to a bank to procure $50 and $100 notes, chances are they&#039;ve been run through counting machines. These machines do a good job of detecting suspect notes. In addition, bank tellers work with cash all day so they are accustomed to noticing fake bills just by handling them as they tend to feel different and stand out.</p><p><br /></p><p>Fake notes, particularly of higher denominations, may slip through at liquor stores or similar places but they tend not to circulate for very long before being noticed as chances are they will only be used for a limited number of transactions before being brought to a bank for deposit.</p><p><br /></p><p>Polymer notes? Not any time soon. Even once approved for research and development, the government would take 5x as long as other countries just developing and testing them out. It would need to purchase and build new equipment to be used by the B.E.P., work on design creation, work with the manufacturers of bill counters/validators to update their chips and equipment to recognize/process the new bills, as well as announce to the world they are going to be introduced.[/QUOTE]</p><p><br /></p>

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