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Economist calls for return of $500 bill
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<p>[QUOTE="midtncoin, post: 2895165, member: 89569"]The biggest hindrance to this is the general public's resistance to change (this has been discussed <i>ad infinitum</i> in other threads). People will not switch to a dollar coin unless banks start giving them out in place of dollars and banks won't do this because people don't ask for them. As long as the paper bill is an option, a dollar coin will not work.</p><p><br /></p><p>HOWEVER, the re-issuance of large bills ($500 and $1000) would likely be welcomed by those who prefer to carry cash and would not meet with much resistance. I'm not saying it will ever happen but from a public acceptance perspective, large bills would be more likely than the demise of the $1. Thus my original statement that a good path to get rid of the $1 would be to bundle it in any legislation to allow large bills. Kill the proverbial two birds with one stone.[/QUOTE]</p><p><br /></p>
[QUOTE="midtncoin, post: 2895165, member: 89569"]The biggest hindrance to this is the general public's resistance to change (this has been discussed [I]ad infinitum[/I] in other threads). People will not switch to a dollar coin unless banks start giving them out in place of dollars and banks won't do this because people don't ask for them. As long as the paper bill is an option, a dollar coin will not work. HOWEVER, the re-issuance of large bills ($500 and $1000) would likely be welcomed by those who prefer to carry cash and would not meet with much resistance. I'm not saying it will ever happen but from a public acceptance perspective, large bills would be more likely than the demise of the $1. Thus my original statement that a good path to get rid of the $1 would be to bundle it in any legislation to allow large bills. Kill the proverbial two birds with one stone.[/QUOTE]
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