I know I sound crazy for bringing up the same topics, but... (Large Denominations)

Okay,

I know many of you thinki that the battle for $200, $500, and possible $1,000 bills is a futile battle, but just in case, I am kind of torn between what I should write to government officials on what I should ask for. So, the question is, Should I write letters about $200, $500, and $1,000 bills? Or Would the government think a $1,000 bill would simply make it to easy for drug dealers? Or should I write for $200 and $500 bills? OR should I skip the $200 bill, at least for now, and consintrate strictly on just getting the $500 bill reissued, and then, once I succeed in getting some attention, mention $200 bills and maybe $1,000 bills later?

I am kind of thinking I should concintrate on the reissue of the $500 bill alone, the most, however, I would really like to write about the idea to reduce and change the shape and size of the half dollar coin as well, to make it a vending machine friendly, money saving coin.

But, does anyone think I should stick strictly to the $500 bill issue, and nothing more, for the time being, if I am to hope for anything to pass or gain interest at best?

After all, I have always been given the advise of "ONE thing at a time" But I want to know for sure, before I go sending out letters pointlesly, where the government may think I am expecting way too much out of them.

 

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No, you don't sound​ crazy...

 

Aw, go ahead and say it Rick, you know you wanna.......:smile

 

Can we PLEASE stop mocking me, and just answer the questions?

 

Keep up the good fight.

 

I have read up on your arguments and am with the opinion that you are fighting a futile battle. I personally don't think a $200 bill is necessary. 2 100 bills is seriously not a problem. $500 and $1000 bills have already been cancelled due to drug trafficking and I don't think it should be changed.

 

If you reduce the half-dollar you stand the risk that it could be confused with a dollar coin or quarter. You are talking about changing the shape of the half-dollar coin when American coinage has remained entirely circular for over 220 years with the exception of a few large-denomination gold coins in the nineteenth century. You're talking about making these changes to make the half-dollar a money saving coin when in fact there is already a large supply of halves available sitting in government vaults. How would making a new and oddly shaped coin from scratch save money when there are already enough extant halves to last for the forseable future?

This is not quite true. Please read here: http://www.cointalk.com/t199352-2/#post1357765

 

I don't think that thread is correct. I have heard from multiple sources it was to combat organized crime.

 

Sounds like quite a dilemma... I think you should ask government officials to issue $350 and $750 bills. This way you don't have to decide between $200, $500 and $1000.

 

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No it wouldn't. The new halves would be a nonagon shape (distinguishible by touch for the blind) and copper colored (distinguishible for everyone else.

So what if I change the shape of the half, to give it the ability to be made smaller and lighter than two quarters, yet easily told apart from a quarter, nickel or dollar?

Umm...Read some of my past threads, where people have told me that, ALL vending machine coin mechs would have to be replaced for a coin larger than the current, small dollar coin. A current half, as I understand it, will not work in current vending machines, but may work in self checkouts since the slot is big enough, if that counts.

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I have read this too. People think that, with electronic methods of pay, that there is no demand for these large denominations, which is totally false. The only reason there is no demand for them, is because they are no longer in print. Same as with dollar coins. There is no demand for dollar coins, halves or $2 bills, because many banks either, do not stock them, or do not tell their customers they have them, unless they ask, and these banks usually refuse to order dollar coins because they fear they will just have to ship them back to the Federal Reserve banks. Same thing, probably goes for $2 bills and halves. I have seen MANY cash deals done at stores, where the person could have used a $500 or even a $1,000 bill, in all of the $100 bills they spent, including someone who spent over $800 in $100 bills. Gee, I wonder if using a $1,000 bill and getting $100-$200 back in change, or spending a $500, $200, and $100 bill would have been easier than counting out all of those $100 bills.

 

Well, although you are just mocking me, I must say that, Europe already has a $750 bill. Its call a 500 Euro note, and that is what it was worth, last time I checked.

 

According to the government, Inflation is running at only 2-3%. In their eyes this is low and under control. Releasing larger denomination bills is too close to admitting that Inflation is in reality running at a much larger rate making the larger bills necessary.
Don't hold your breath waiting for this.

 

IMO, if you're going to write that letter, you stand a better chance just mentioning the 200$. But what your arguments would be exactly, higher denominations to reflect the constant inflation ?

 

Actually it's pretty accurate. Before the internet and the wired transfer capabilities, transactions were handled with larger denominated bills so it wouldn't require the moving of more bills or currency.

There is no need for larger bills, not with our wired world. It's never going to happen and by wiring money, it's safer and more secure.

This mission to get larger bills, you're sadly just wasting your time. It would take banks and corporations likely to demand larger denominations before our elected officials would consider it again, which again, isn't going to happen.

 

Write a letter? You actually think someone of importance is going to take the time to read a letter? My guess is that an intern will be reading the first few sentences and then promptly throwing it out or deleting it if you are using email. How about putting your efforts into something that would actually make a difference in someones life?

 

Why not the $500 and well? Even $200 isn't that much money these days. I guess the argument would be against inflation, or just due to the fact that, if I am buying a used car from a private seller, or having home repairs done or the like, I would rather use a few $500 bills than several $100 bills, but $200 bills would also help the government save money on printing less $100 bills, which was another argument for reissuing at least the $500 and issuing a $200. And the $1,000 was just an idea because of the 500 Euro note being worth so close to $1,000 U.S. I would say maybe not inflation, more of a convenience. But inflation os one main reason I think we should redesign and embrace the half dollar coin, and embrace the $2 bill, which is already getting a redesign fairly soon.

 

Yeah, it sure is safer and more secure, until you have somebody hack into it, ans steal your identity, which is something BOTH my parents had to deal with a few times. And a credit card company charging me money a FEW times after I CLOSED the account. Something that is impossible to do with a $500 bill.

And I will say it again. If we can have a choice between $1 bills and dollar coins, we SHOULD also have a choice between credit/debit/checks and $200/$500/$1,000 bills.

 

Why not have notes in every possible combination, like $101, $102, $103, etc? That way, for any cash transaction, you'd only need one note. I'll let you claim it as your own idea.

 

Might be a headache but it's recoverable though. Lose or have that $500 bill stolen, see if the bank replaces it for you!

Secure your bank and personal info, if you're parents have had to deal with it more than once, then they're being careless with their info apparently.

 

The reason why I suggest you mention only 200$ bills is on the basis that everyone here seems to think you 0% chance in success with writing such a letter. Therefore, I think you have a higher chance of success if you ask for less. Introducing 500$ and 1000$ notes might be too big a change. Perhaps we will see them again when/if we get to a point where people would have more need for these notes on a daily basis.