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Economist calls for return of $500 bill
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<p>[QUOTE="Richard M. Renneboog, post: 2896328, member: 89693"]"the general public's resistance' says it all. When Canada dropped its paper $1 bill in favour of a $1 coin, the general public didn't get to choose. It was a case of 'the 41 bill will no longer be produced after such-and-such a date but will remain legal tender afterward'. Same thing when we dropped the $2 bill for the $2 coin, and there has been discussion about dropping the $5 bill in favour of a $5 coin, but that got short-circuited when the RCM opted to go to longer-lasting polymer bills instead of paper bills that typically only last between one and two years before they have worn out. I've only seen $50 and $100 bills in circulation, never a $500, and unless I am mistaken the largest legal tender bill we have here is the $1000 reserved strictly for physical cash transfers between banking institutions. I've never seen one myself, so I kinda take it on faith that they actually exist...[/QUOTE]</p><p><br /></p>
[QUOTE="Richard M. Renneboog, post: 2896328, member: 89693"]"the general public's resistance' says it all. When Canada dropped its paper $1 bill in favour of a $1 coin, the general public didn't get to choose. It was a case of 'the 41 bill will no longer be produced after such-and-such a date but will remain legal tender afterward'. Same thing when we dropped the $2 bill for the $2 coin, and there has been discussion about dropping the $5 bill in favour of a $5 coin, but that got short-circuited when the RCM opted to go to longer-lasting polymer bills instead of paper bills that typically only last between one and two years before they have worn out. I've only seen $50 and $100 bills in circulation, never a $500, and unless I am mistaken the largest legal tender bill we have here is the $1000 reserved strictly for physical cash transfers between banking institutions. I've never seen one myself, so I kinda take it on faith that they actually exist...[/QUOTE]
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