Should the U.S. have $200, $500, and possibly $1,000 bills?

I work retail sales, and you'd be amazed at the amount of $100 bills that come in.
When I was a kid $100 bills were as rare as hens teeth, but now they're like $20's. I remember my grandfather would always have $100 bills in his wallet and us kids were always blown away by it, we thought he was really super rich. (He wasn't)
$500 bills would be a welcome thing in my opinion.

 

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as a eu member eveyone tries to keep these to them selves
what that means that would not help the country
as every body hoards them
who here would like to break a 500 hundred euro note
that is apox $700 no they would not help
i very much like the notes that were shown here in this thread
i will do my best to post a 500 euro note tomorrow
dave

 

Right. They may be useful for people who, for whichever reason, want to keep a lot of money at home. But by and large you would not want to pay with one, as many businesses will not accept them. Sure, if you buy stuff worth, say, €700 at some exclusive fashion store, they will probably accept it ... and if you have a German credit or debit card with a certain Dutch/French EMV chip, it makes sense these days to have alternative means of payment too.

This is, by the way, what the euro notes (and coins) look like:
http://www.ecb.europa.eu/euro/html/eurocoins.en.html
http://www.ecb.europa.eu/euro/html/security_features.en.html
And here are the Swiss (CHF) notes; they do not have a "500" denomination but 200 and 1,000 bills:
http://www.snb.ch/en/iabout/cash/history/id/cash_history_serie8

So yes, they do exist - €500 is about $700 dollars, and 1000 fr is about $950. But such denominations are not really used in "everyday" life. And I doubt they would be useful in the US.

Christian

 

I'm still trying to convince the gas station to take a $100 bill with a fill up; even if the amount of the sale requires less change than the sale itself. I had to use an ATM machine in order to pay one time. Add another $1.50 to the bill to cover the service charge by the bank. Just imagine all the posted notices from retailers saying they won't accept $500 bills for a transaction.

 

As of next year the canadian paper money will be plastic.What next credits and cashable coupons.

 

BINGO !!!

Once everyone else is done sniffing their coin cleaner from a paper bag - they will realize just what you posted - and realize that making things better (or easier) for the drug dealers and other illegals is NOT the way to move. I am old enough to remember the 500 and 1k bills in circulation - and if you think breaking a hundred is tough ...

Large cash is for those who have something to hide !!!

JMHO

 

Drago,

It's hard enough finding business' that accept $100's and some even refuse to take $50s.

 

I remember trying to spend my first "new" $50 bill up in Vermont. Guy in the store looked at me, talked to his partner, and decided that if someone was going to make fake 50's - they would do a better job. Laughed so hard, but when you are a tourist...

 

AKA Burger King!

 

There are ethnic groups, often from places where sensible people don't trust the banks, who conduct even large transactions in cash. High-valued bills would make a lot of sense for them.

 

oh come on, 100 dollars would not even take a group of friends out to dinner, don't use credit cards and you will not have to worry about identity theft, and if inflation starts kicking in a few years a 1000 dollar bill will be the new 100

 

Why not just go back to the gold standard and be done with it.

 

That's a good point. Imagine a gold certificate, redeemable at any bank for a one-ounce gold coin. It would be worth well over a thousand dollars at today's prices.

 

Why not just quote prices in grams/ounces of gold? At one point in time a dollar was three hundred and seventy-one grains and four sixteenths parts of a grain of pure silver. We got by without paper money for 70 years. Paper money should not be legal tender, infact it isn't according to the constitution. I'm not saying abolish it completely but it should be up to soceity to decide. Checks are accepted but not legal tender. Debts should be settled in precious metals. If the US continues down the path it is headed then one day other nations of the world will park a few warships off our coasts and demand we settle our debts in gold.

 

What does the future money be gold, debit card, credit card, coupons, plastic money, or just plain old paper money and coins.

 

I like the idea of bringing back the $500. It would simplify large deals where you're paying cash. Yea, I know it's all about credit cards and electronic transfers these days.....but I ALWAYS prefer CASH. It makes the transaction private and away from the prying eyes of our intrusive government.

 

I do not understand why some people here worry about the drug war issue. Face it, WE ARE NOT GOING TO WIN THE DRUG WAR, and get over it. And so what if it makes cash transactions easier for drug dealers with $200, $500, and $1,000 bills? My opinion is that ALL drugs should be legalized, so that even the government can make a profit off them and people might not kill other people over these drugs as much anymore. I never have tried any drugs and likely never will because I'm not into the crap. But if other people was to eff up their bodies with drugs, let them. Its no skin off our non-druggie backs.

The reason I want large denominations is for large transactions. As for saying certain stores will not accept a $50, $100, $200, $500 and $1,000 bills, they WILL accept those denominations IF you use them in the right situations. For example, my mother spends $200-$300 on groceries almost every week. A $200 bill would be very useful here if you spend $200 or a little less, like $150, and a $500 bill would be good for a transction of $300 or more, and as I also said, NO store should accept a $1,000 bill unless you are spending at least $800 out of it.

The bottom line is, stores will accept $50-$1,000 bills IF they are used for high end purchases as they were meant for, and if these large denominations had a few very high tech security features to easily tell if the bill is counterfeit or not. And I am very sure that our government could put high tech enough security features on a $1,000 to ease almost everyone's fears of getting a counterfeit.

$200, $500 and $1,000 bills should be made available to banks for people who want to use cash for high end purchases. Casinos and high stakes poker players would love to pay out a few straps of $1,000 bills over a huge ammount of straps of $100 bills, and I'm sure they would use $200 and $500 bill straps at times as well.

And like they always say: CASH IS KING! So all of you credit and debit cards and checks, bow before your king, King $1,000 Bill, Queen $500 Bill, Prince $200 Bill, and Princess $100 Bill! :bow::bow::bow::bow: