I might be trying to start a small business and was wondering about vending machines

I could be wrong, but thinking this through, doesn't' this put the 2's and halves back into the owners till? Doesn't seem to send them out into the world, so to speak. Lucy

 

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It woudn't just be vending machines. $2 bills and halves would also be in the cashier's till for use.

Many people are probably also unaware that the half is still being minted (Even if just for collectors right now)

Would a bank even be willing to do that though? That is the question.

 

Wait, I think I get it. Say someone's bill is $25 or even $24, if they gave me $22 with a $20 (or and lower denomination combination) plus a $2 bill, that $2 bill would count as a $5 bill, as a bonus $2-$3 off??

 

Money can make people do anything, but no I am not encouraging you to bribe your bank or any other individuals.

 

Ever hear of the saying "Pay a man enough, and he'll walk barefoot into H:devil:ll?"

It sounds tempting, says the :devil: in me, but I won't do anything illegal. But I don't see why you can't pay people, like Congressmen to introduce legislation. I mean, whats the difference between "bribery" and "paying someone to do a job"? :rollling:

 

I would eat there all the time. I could close a $25 tab with 5 $2 bills? $15 discount is a bit more than 15%...

 

Yeah that's a 60% discount, so you might want to raise your prices if you want to that.

 

I discount per person, per visit...ya gotta read the fine print! :just-sign:

 

The incentive or discount would be on a one per visit basis, in the same way that you cannot use multiple coupons on a single item at the grocery store. As far as stopping circulation at the cash register, you can always give the collected $2 bills out in change. I would target the customers who did not take advantage of the discount saying "Show up with one of these next time and it's $3 off on a purchase of $20 or more." This will get the bills into the hands of those you are trying to reach the most. Keep in mind that you are coupling this with the store's normal advertising, so even if you don't get business, the spin-off is in raising the "awareness" level on the 50 cent piece and $2 bills.
Also, this is no more a bribe than any legitimate retailer offering coupons or running a discount sale to encourage business while contributing in part to a worthy cause.

 

No, you misunderstood. We were talking about bribing Congress to introduce legislation to, or get the Secretary of the Treasury to reissue $500 bills. That was what we were talking about when we were talking about bribery.

Oh, and there would be $2 bills and halves in the register at all times (if possible) to make change with, and hey, maybe I could say, bring in a half next time, and I'll take $1.50 off your bill of $10 and up. As long as I wasn't losing a lot of money anyway.

One more thing, about the vending machine issue. How does that work? I mean, are you in some kind of deal with the vendors that you get a cut of the money they make off their machine's sales, or do they give you money for allowing them to do business on your property?

 

Is there a need for this type of resturant in your area?
Is there a over abundance of resturants in your area?
Have alot of resturants in your area closed recently?
Have you spoken to others in the resturant business in your area about average customers per day?

Getting into the returant business isn't an easy thing. Plan on not making money the first 2 years at least. So that means you need to have alot of operating capital to sustain your bills.

Good luck with it.

 

Two thoughts occur to me:

Vending machines can not take halves because the coin slot and mechanism is not physically large enough for the coin to fit. To modify it would require a complete redesign of the mechanism, not a minor proposition.

I can not think of a single (legal) reason to have anything larger than a $100 bill. Where, in normal daily commerce, do you expect to be able spend a $500 or larger? You might be able to use a large bill if you were buying, and paying cash, for a large appliance or car, buy why bother? A fistfull of $100 will do the same job. Most people aren't going to keep a pile of larger bills laying around the house. Where is the economy of wanting to buy something, going to the bank to get a $1000 bill, take it to the appliance store, pay for your purchase and they send the bill right back to the bank? With checks, credit and debit cards, even $100 bills are of marginal use.

 

But could you imagine going to the gas station and buying a soda with a thousand dollar bill.
Or better yet go to the gas station and say "Fill her up or go to a thousand which ever comes first" and of course with gas prices being like they are it would probably be a thousand first.

 

I was told by people that, only the faceplate would need to have a bigger slot on it, and I wrote a letter to NAMA (National Automatic Murchandising Association) and they said, to accept a half dollar:

"Adding tubes for half dollars and ($2 coins) would add millions of dollars in costs for the industry to retrofit existing equipment and purchase new equipment."

Now, if it would only cost them "millions", and not tens or hundreds of millions, then getting a few custom made machines refitted to take halves should not cost all that much. But I could be wrong. However, I even talked with a self checkout dealer, and I asked him how much it would cost to get the machines set up to accept and dispense $2 bills and halves as needed, and he told me one or two million dollars would "entertain" the idea, whatever that means. I'm guessing he means, if I gave him a cool mil or two, he would consider it, but not nessassarily do it. I do know that self checkout slots ARE big enough to fit halves, but they just fall into the rejection tray, so self checkouts could probably easily be made to take halves with just adding a tube for them, I'm guessing.

It matters because, I like using cash, my mother blows through about $200 for grocery shopping many times a year (there's you $200 bill purpose) and around the holidays we spend a good $1,000 or more (your reason for both $500 and $1,000 bills) Why does everyone think that only "the bad guys" are going to use high denomination currency? And who cares? That did not stop Europe from issuing 200 and 500 Euro notes, with a 500 that was worth about $880 at one time and is STILL around $750, last time I checked. Ask Europe why they NEED those large denominations if you ever go there, because I would be VERY interested to hear what they tell you. I HATE fist fulls of $100 bills, as opposed to a couple $500 or $1,000 bills, a wad of $100s which are more noticible to muggers and pick-pockets than a couple $500s and $1,000s. Not to mention I got screwed over BIG TIME by a stupid credit card company, where I closed the account because they were telling me I owed them money that I DID NOT owe, so I paid them off once, and they said all was good. Then I got another bill and they said this would be the last bill, so ticked off as I was, I paid it off. Then they sent me a third bill, so I called the idiots, and they told me to just ignore anything else that came in, and I was good. Six months later, I got a frickin' "six months late" notice, so I got in contact with the attouney General over it, and am trying to find a way to get the credit card company's ass in trouble. And also, when I bought my first truck for $900, I told the guy I was buying it from, that they should bring back $500 bills for this type of purchase, and he said H:devil:ll, bring back the $1,000 bill", and I told him "And add a $200 bill as well, and we both agreed. More people who do private deals are more comfortable accepting cash.

But as I said, its a matter of conveinience. My mother also won three progressive bingo jackpots for over $2,000 and the group gave her a check, and she told me when she cashed it, that she would have prefered a couple $200s, and $500s and maybe even one $1,000 bill, to make it easier and more discreet for her to carry out of the bank. And h:devil:ll, if I won that much money, I would want access to AT LEAST $200 AND $500 bills. Not to mention at stores, I am waiting in a long line for about a half hour, then I get up to one customer before me, who whips out their cards or checks and the machine goes haywire, leaving me to wait, who knows how much longer, but usually, its a long, long time. These problems could be avoided if they still used "CASH ONLY" lines in stores, or thelarge bills could be fed into self checkouts that could be programed to take them.

Most people are not going to use dollar coins either and from what I hear from a 7 Eleven cashier buddy, those go right on back to the bank (if I don't buy them) after they are spent there, but the U.S. Mint still has plenty of those, and keeps on making more of them. So, if people can have a choice between $1 bills and dollar coins, why can we not have a choice between debit/credit/checks and $200/$500/$1000 bills?

Well, from what I hear and read, the demand for $100 bills is steadily rising, especially overseas, where other underdeveloped countries prefer our currency as a strong store of wealth to put away (Yeah, I know, and the drug dealers over there probaby use them, but thats not the point) The point is, if the demand for $100 bills is steadily rising, as are the costs of printing $100 bills, due to needing to add high tech anti-counterfeiting measures to them, would it not be wiser to print a few $200, $500, and $1,000 bills to free up some of that space, and those printing costs on printing so many new $100 bills? I would think so. Like the $1 and a $2 coin replacing the $1 and $2 bills, eliminating the cent, and making our coinage out of cheaper metals, printing higher denominations of U.S. Federal Reserve notes would save a lot of money. Probably at least tens of millions to hundreds of millions of dollars that can be better spent elsewhere.

And I've had my local banks and credit unions say they would love a $200, $500 and $1,000 bill, because they deal with huge amounts of cash every day. So obviously someone wants them and the demand is there. So they could print some for overseas deals and lave a few at local banks and credit unions here in the U.S.

 

I kept asking myself, why do I keep coming back to this thread… Then I realized it’s like watching a car accident in slow motion. It’s not often you read something this stupid.

 

There are a few members here at CT that have a penchant for idiocy that is unrivaled anywhere else I've been on the web. Not naming names, just saying.

At least Drago can take his thoughts and opinions, formulate a proper sentence and paragraph, and communicate the idea effectively, no matter how misguided it may be.

 

You are correct! I may have gone a little overboard on that one. I apologize. This thread may be annoying, misguided, and insane but it beats Redwin177 talking about his “Two Full Dates 1995 Obverse, Two LIBERTY, Two IN GOD WE TRUST, P Mintmark, VDB plus Skull break, & PML in some areas < Oberse.”

 

Hey no names.

 

Right now I have 73 $2 bills in my pocket. I spend them all the time, mostly seamlessly. I did have a near miss in a Baskin and Robins where the cashier asked her manager if they could accept $2 bills. Otherwise I use them in vending machines in the grocery store etc with no problems.

 

Uh, here in the euro area we do not really "need" or use them in everyday life. The €500 note (with a value in USD that has been fluctuating between about $420 and $800, and is currently at $715) is primarily used for putting money aside. I am not talking about any criminal activity (which such notes, like other denominations, are of course used for as well), but about people who want to have cash maybe because they do not trust banks that much. In everyday transactions, however, such notes do not play a significant role, and they (particularly €200 and €500) are frowned upon at many places.

By the way, Switzerland has a 1,000 CHF note. Current value is about €880 or $1,260. Do they "need" the denomination? In any case, I do not think it is a good argument to say that "country A needs such high value notes because country B has them too". Saying that people (business, consumers) want them would be much better - but frankly, I have my doubts about that.

Christian