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 Replies: 20 / Views: 3,743 |
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Moderator
 United States
188952 Posts |
The $500 is the new $50 anyway.  |
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Pillar of the Community
United States
1158 Posts |
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Moderator
United States
188952 Posts |
Good point. I rarely have anything over a twenty, for whatever that is worth. I prefer plastic for larger purchases.
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Pillar of the Community
 708 Posts |
OldSkoolMadSkillz,
Yes, but credit, debit and checks make identity theft next to INFINITY efficient. I'd rather carry around a couple $500 bills, and why shouldn't I have the option, if I am going to carry all $100 bills anyway, and that wouldn't change how much money I lost to the muggers, right? In fact, a couple $500 bills would be even less noticable than ten $100 bills in public.
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Pillar of the Community
708 Posts |
jbuck, THAT is EXACTLY why I want a $200 bill. $200 bill = New $20 bill, and reissued $1,000 bills as well. New $1,000 bill = New $100 bill!  (As I said, might as well bring back the $5,000 as the new $500 bill, the $10,000 as the new $1,000 bill, and issue a $2,000 bill as the TRUE $200 bill ) Edited by Fox
08/11/2015 5:08 pm
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Moderator
United States
188952 Posts |
Identify thieves do not care if you do not use or even have electronic payment cards. Your identity can be stolen from a variety of sources, not just these highly publicized retail payment breaches. Unless you live 100% off the grid (and you do not if you are reading this), there is a significant level of risk. Once they have your identity, which they will just get plastic in your name.  |
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Pillar of the Community
 United States
1949 Posts |
Quote:
There is a 500 Euro note and it sees very little circulation. It is mostly used for hoarding cash or for large value under-the-table trade which is often illegal. The average person uses plastic for large transactions. A $500 dollar note today would have a fraction of the buying power of a $100 bill 50 years ago... I think we should have added $500's back long ago... Shoot, they've had them in Monopoly since the 1930's |
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Pillar of the Community
708 Posts |
Okay, I did this poll to get input on what seemed like the most important and workable issue to talk to the DCA guy about supporting. I will decide what to talk to him about trying, maybe by next month, or after the poll has been up for a while. I will also tell you guys what issue I have chosen.  Edited by Fox
08/11/2015 6:45 pm
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Bedrock of the Community
United States
10038 Posts |
None of the above - debasement instead. It would only cost new designs and the normal cost of minting coins (which would be done anyway). This would mean no need to make new denominations of coins/blanks/machines - such as 2.00 coins. It would mean no refitting of machines for taking the larger and new denominations. It would mean we don;t individually have to have more change in our lives. Its proven these higher denomination coins drive up prices faster (initially) and end up being put in jars anyway. They are more expensive and troublesome to handle en masse from weight (metal vs. paper).
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Pillar of the Community
1325 Posts |
Where is it these higher denomination coins drive up prices? Do you mean because cash drawers don't have room for all the coins so the price is rounded up to the lowest bill?
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Pillar of the Community
United States
998 Posts |
While I appreciate your desire and the possible usefulness of larger value bills ($200, $500 etc.) I do not think they will ever be issued here in the USA. The use of cash for legitimate purchases of this size is rare and the last 50 years or so without bills larger than $100 has shown that they really aren't needed for legitimate commerce.
I applaud your tenacity in these things but I don't think there will be substantial changes in our coin and currency system anytime soon, there are too many competing special interests for any real change to happen.
I think that a cashless society will get here before any other real change is instituted except perhaps for the elimination of certain denominations here and there.
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Moderator
United States
188952 Posts |
Quote:
Its proven these higher denomination coins drive up prices faster (initially) and end up being put in jars anyway. This is a LIE. Inflation is the cause, not the result. Quote:
I think that a cashless society will get here before any other real change is instituted except perhaps for the elimination of certain denominations here and there. This will probably prove to be true. |
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Pillar of the Community
United States
1158 Posts |
Quote:
I'd rather carry around a couple $500 bills, and why shouldn't I have the option, if I am going to carry all $100 bills anyway, and that wouldn't change how much money I lost to the muggers, right? In fact, a couple $500 bills would be even less noticable than ten $100 bills in public. For muggings, yes. For a drug smuggler, carrying 10,000 $100 bills vs 2000 $500 bills makes getting a million out of the country a whole lot easier. One is a small suitcase and the other a small purse. And for real big time smuggling, $500 bills means a single large suitcase vs a pallet. For personal purchases, carrying 20 $100s or 4 $500's is really no difference in mobility or utility. |
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Pillar of the Community
1325 Posts |
Who really carries more than one $100 bill at a time? Big purchases are made with card or dang near exact cash. So if you are buying a refrigerator you likely have the money for it and don't carry that kind of money around ALL the time, since you aren't buying major appliances all the time.
Unless it is a card of some sort, who really carries all their money on them all the time? Why do you need it all on you? You are going to drive by a car dealership and impulse buy a minivan? I have given thought and the majority of people don't have $500 or even $200 that they can carry around on them unless they are spending it then bringing the purchase back home.
$191 is what you have now if you have 1 of every bill. How often do you need that much money on you? Also many places wont take 50s and over, they jsut don't keep change in the cash drawer for that large a bill, especially the places most likely to get robbed, the gas station. They take a 50 if you get that much gas, but they rarely keep 20s in the drawer.
To decrease the amount of mugging the $1 and $2 coin would help but NOT making larger bills. Just let people learn to use coins again that have become complacent to plastic. For those wanting to look at the real economy, school lunches prices are going up and that is putting more kids on the "free lunch" program, so not many people can afford to own a $200 bill.
too few bills would be needed and they would most likely jsut go back and forth between banks like the $500 and $1000 was it would be no point at all since they just use digital transfers for most things like cards and checks. How many bills would a bank be stuck with before they sent them back? All bank I know need a "pack" worth of bills if they have to send out for more or jsut need to not have the excess on hand. Same goes for coins, Banks are stuck with EVERY half dollar coin until they have $500 worth, every $1 coin until they have $1000 to send to these coin rolling services.
Who would really use a $200 or $500 in this day and age? How often would you need to use one?
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Bedrock of the Community
United States
20753 Posts |
I voted for none since the way I look at it, no need to change anything yet. So many people are switching to all plastic cards, why bother messing with our current system.
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Posted 08/11/2015 2:55 pm
