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 Replies: 19 / Views: 2,751 |
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Valued Member
United States
177 Posts |
The demand would be huge, especially for numismatists.
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Pillar of the Community
United Kingdom
856 Posts |
Quote:
The demand would be huge, especially for numismatists. Being serious for a minute, yes. There are some things where cash still seems to be most acceptable. Coin fairs, antique fairs, that sort of thing where you expect to take away what you've bought on the day. Apart from some commercial dealers few people can just accept a credit card and certainly in the UK, we've more-or-less done away with cheques. So cash still has its uses ... sometimes. |
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Bedrock of the Community
Australia
21788 Posts |
I would use a $200 note a LOT, because I use the current $100 to pay all of my bills, right now.
(Post office is next door to the bank)
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Pillar of the Community
United States
965 Posts |
I think that $200's & $500's would be used a lot actually, if you think about it most demand for $100's is from central banks around the world, so $200's & $500's would make that much easier. I personally would use $200's regularly maybe not $500's yet but maybe in a few years.
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Pillar of the Community
United Kingdom
2885 Posts |
Here in the UK we have both £50 and £100 notes, yet they are hardly ever seen. I actually lodged a good bit of cash at my local bank last week and there were both denominations in it. The (admittedly young) cashier said he had never seen the Bank of Ireland £100 notes before - and he works in the bank!
Dealers - car, antiques and the like seem to use them the most - and farmers - basically those who prefer to keep moderately sized deals under the radar so as not to trouble the tax man and take up his valuable time :)
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Valued Member
United States
368 Posts |
IMHO, I think the $200 and $500 would be a good idea, as for the $1000, I don't know if it would be that widely used.
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Moderator
 United States
188952 Posts |
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But, honestly how often do you walk around with $500 in your pocket? This is the right question to ask. If there is a sufficient number of people who do, then the five hundred dollar denomination makes sense. My wager is that it does not, as it is easier for us to carry a payment card than it is to carry that amount of cash. I could be wrong. A two hundred dollar note, however, may find success. |
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Valued Member
United States
446 Posts |
I don't think these would see much use outside of drug dealers, casinos, and Where's George enthusiasts. I'm not sure the casinos would bother with the $200 or the $500 as that casino cash payouts use $100s and $20s and not the $50s. I personally like and use $2 bills, but would think the $200 to be some sort of freak note. I could only envision using one on a regular basis if inflation were to get so bad that you needed one to buy a soda.
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Valued Member
United States
177 Posts |
I don't believe the 1000 would have much use. $200 and $500, yes. But, since credit cards are generally not accepted at flea markets, small businesses, antique stores, and et cetera, it would be nice to have high denominations of actual cash, which symbolizes wealth better than a piece of plastic. I do not think the only usage would be from sales of illegal drugs and arms. Casinos would use them regularly, but why is that bad, ask yourself? Just my 2 cents.
Also, if you're like me, you don't want to get a ton of charges on your credit card. So, I don't even enjoy using my card unless it's for very high purchases. So, I'd like to have high denominations.
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Bedrock of the Community
United Kingdom
17960 Posts |
Since 2002 there have been 200- and 500-euro notes in Europe, but many businesses refuse to accept them - I've often seen signs in shops, gas stations etc saying that they are not accepted. When changing pounds into euros for foreign travel I never get any denominations above €50.
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Valued Member
United States
177 Posts |
Gas stations can't make change. But coin stores selling $1000 items can use $500s as change for $1000s.
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Moderator
United States
188952 Posts |
I can see why a cash-only (or cash preferred) business would like them. They already have to make large cash deposits, so having fewer bills could help.
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Pillar of the Community
United States
621 Posts |
I'd much rather have 5 $100 than 1 $500. also, a lot of small businesses(well, around here) don't keep a lot of money around for change, 1 $500 bill would eat up half our "petty cash" where I work right now.
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Pillar of the Community
United States
511 Posts |
With ongoing inflation/declining value of the FRN, $200s and $500s are overdue. It won't happen as the nanny statists say drug dealers and criminals (the unelected variety) would use the larger notes.
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Valued Member
United States
189 Posts |
To papermoney: If you are sick of carrying around 100's then use your credit card and pay it in full each month and earn rewards points. It adds up over time.
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Replies: 19 / Views: 2,751 |
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Posted 08/16/2013 08:00 am
