Should we bring back higher denominations?

I was thinking today, should we bring back higher denominations of currency?
notably a 500 and 1,000 dollar bill?

It would sure make things easier for large cash deposits/purchases

 

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Feds won't allow it. They (500s and 1000s) ALSO make it easier for drug trafficking and in these lovely days terrorism. That's why we don't have them now.

 

Nope. But we should have circulating 100 gold and platinum coins. :-D

 

Most purchases that are so big that 100's would be cumbersome don't happen with cash anyway but are usually done by electronic transfer. That's the way the government wants as its easier for them to track if they need to.
Ziggy

 

I agree, the Feds are trying to eliminate currency in favor of electronic currency to monitor illegal activities.
But, to answer you: yes we should bring it back.

 

It'd be nice to have those back, but unrealistic

 

It doesn't matter what I think, nor does it matter what the Gov'mint thinks.

What matters is what the PUBLIC AS A WHOLE thinks.

The public rarely uses $50 or $100 notes. As a group, we use coin and currency for smaller transactions. But for larger transactions, we use virtual money, such as checks, credit cards, and electronic means.

It would be foolish to print large bills because no one would use them.

Keep the Benjamins around - they get some use. But we don't need anything larger.

 

Most $100 bills circulate outside of USA. Until not long ago it primary "big" currency in Russia, Ukraine ex USSR. Now Euro taking over, because not lose value like USA dollar. Of course $100 bills get lots of looks when spend, usually for large capital item. It still not like USA yet where lot of other means of pay, credit etc. Because value of dollar going down, people like now Euros, so next years see less $100 bills printed in USA and your friends in DPRK.

 

Not many people would actually use them.

 

Since there's nothing to back them, WHY NOT?
No, seriously, I think we're fine with what we have. I do, however, wish to see higher denomination coins, as I'm sure many here would probably agree.

 

the problem with higher denomintaion coins. Would people actually circulated them, or would they just save them and collect them.

 

With the use of plastic and electronic transfers they likely are not needed, except for purchases meant to avoid government attention like the mafia, drug traffickers, or coin dealers making large hotel room purchases the night before major shows.....lol.

 

I believe that's why the Canadians got rid of their high-denomination notes a few years ago.

 

Why? They would only be used by criminals. I pay for everything with plastic and get a tax free rebate every December.

 

Of course we need larger denomination bills. Go fill my gas tank and there goes a handfull of $50 lately. Groceries need at least a $1,000 bill and not much change.
No, for real way to late for this subject. Soon enough all curency will be a thing of the past. So much is credit or debit cards, currency is about to vanish. Ever see the Visa Advertisement on TV with a person holding up the line with that stuff called CASH. It will not be to much longer when some kid will be saying "Hey Grandpa, what was the stuff used way back in the old days called cash?"

 

I'd love to see higher denom notes and coins both...guess which one will become reality

 

Probably not. Most businesses prefer cash for the simple reason of the charges that Visa/MC/AMEX/etc. charge per transaction for the use of their cards. Some are even around 5%. And cash is still the preferred medium in quite a few countries. Unless it's over $50, I pay cash.

 

I don't see cash disappearing anytime soon either. Fees are part of that.

Not wanting the Feds to know EVERY single facet of your life is another raason. My money is not spent illegally but I still feel it's none of their business.
I do VERY little with "plastic" on the computer as well. It makes the chances of someone getting my information much lower.

I pay cash for damn near everything I buy. If someone holds me up and gets $200 cash that's that. If they get a credit card they can do a lot of damage in a hurry I don't care how good the "protection" is.

Had it happen to me once and it was a royal pain to get straightened out.

Plus, when I open my wallet and moths fly out I know it's time to stop spending.

 

Call me cynical but they do not make those because they hate freedom:hammer:

 

True. I have debated with people time and time again who think currency will outlast us all, but I agree that electronic transfers will be (and already are) a bigger part of our generation. That's another reason to collect. Soon, coins (and all forms of cash) will be looked at as relics from another time.