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How Can We Increase Circulation Of The $50

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United States
92283 Posts
 Posted 08/11/2020  09:47 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
For the 250th Anniversary of the USA in 2026, Print 250 Million new banknotes of a new $250 denomination and let's see how that goes
Like the quarter does the nickel, this might make the $50 more useful.
Valued Member
United States
403 Posts
 Posted 08/11/2020  1:07 pm  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply
I don't think 250 Million new banknotes of a new $250 denomination is enough to make difference.

Notes are not normally distributed evenly. I would accept a billion notes distributed to New York City fed, as they are most likely to end up overseas anyway.

Distribution of 2013 $100 banknotes
B 1,804,800,000 02-New York 2820 skiffs
F 620,800,000 06-Atlanta 970
L 547,200,000 12-San Francisco 855
K 281,600,000 11-Dallas 440
E 176,000,000 05-Richmond 275
G 169,600,000 07-Chicago 265
D 112,000,000 04-Cleveland 175
H 99,200,000 08-St. Louis 155
J 80,000,000 10-Kansas City 125
A 73,600,000 01-Boston 115
C 54,400,000 03-Philadelphia 85
I 25,600,000 09-Minneapolis 40
Total 4,044,800,000 Skiffs 6320
AVG 337,066,667


European Banknotes in circulation (by number of pieces)
3,215,606,913 100
562,265,779 200
424,439,292 500
Edited by PacoMartin
08/11/2020 1:12 pm
Valued Member
United States
403 Posts
 Posted 09/10/2020  12:30 am  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply
1,584,000,000 2013 series $50 denomination; stopped production end of October 2019
2,182,400,000 2013 series $10 denomination; stopped production end of January 2018
4,044,800,000 2013 series $100 denomination; stopped production end of July 2019
4,876,800,000 2013 series $5 denomination; stopped production end of September 2019
7,814,400,000 2013 series $20 denomination; stopped production end of January 2018

After some consideration, I doubt that the $50 will ever move out of last place in terms of number of banknotes produced (xcept for the $2).

We clearly need a $200 denomination.
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Canada
3551 Posts
 Posted 09/10/2020  01:01 am  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
It is really irrelevant . 100 s are used for hoarding cash .
The bills used every day are basically 5 and 20 dollar notes .
Ten dollar notes and fifties are seldom used in My neck of the woods
near the USA. Canada border , both countries .
A fifty dollar bill is useless both sides of the border .
Most of the bank machines in WA and BC dispense 20 s .
The demand for a 200 is laughable at best . Would never fly .
Edited by Pacificoin
09/10/2020 01:03 am
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Germany
590 Posts
 Posted 09/10/2020  03:38 am  Show Profile   Bookmark this reply Add redlock to your friends list Get a Link to this Reply

Quote:
A fifty dollar bill is useless both sides of the border


Hm, during the last five years (2014 to 2019), the number of $50 bills in circulation has risen by 50% (224 Million to 349 Million) in Canada.
So, the $50 bill must be used in Canada, well, some parts of Canada. Perhaps, as ''store of valu'' like the $100 note?
Edited by redlock
09/10/2020 03:39 am
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Canada
3551 Posts
 Posted 09/10/2020  10:53 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
The way we are taxed to death a Canadian is lucky to have 50 bucks !
Edited by Pacificoin
09/10/2020 10:54 pm
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Canada
1111 Posts
 Posted 09/11/2020  08:16 am  Show Profile   Check walk2dwater's eBay Listings Bookmark this reply Add walk2dwater to your friends list Get a Link to this Reply

Quote:
the number of $50 bills in circulation has risen by 50% (224 Million to 349 Million) in Canada.
So, the $50 bill must be used in Canada, well, some parts of Canada.

The BOC, to their credit, anticipated a rush on cash near the beginning of the 'lockdown' Feb 13th -so they supplied distribution banks with more $50's (than $100) b/c most ATM's are equipped to dispense them. It's quite likely that a large portion of those $50 are hoarded but one also sees them circulating (at least I do).

It used to be that servers (& cashiers) got in a huff over taking a paper $50 (or $100) but after the switch to polymer (2012), they've been taken much more regularly (with less sneer). So you see them around a lot: at least here in Ontario. There's a bit of a schizophrenic mentality towards large denominations, esp since the pandemic, since most businesses have insisted on credit/debit (but are so desperate for money not to kick up too much a fuss over accepting cash).
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Australia
17604 Posts
 Posted 09/11/2020  09:12 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Easy for me to use $50 and $100 Notes:
- I avoid as much as possible to use my cards.
At least, I have never been scammed.

Impossible to run a business in this manner.
Valued Member
United States
403 Posts
 Posted 09/12/2020  02:57 am  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply

Quote:
Pacificoin
The demand for a 200 is laughable at best . Would never fly .

100 = $118

Circulation of the 200 banknote has doubled in the last year, as a new series of the 500 was not issued.

I think demand for a $500 banknote would be huge, but I doubt that it would be possible politically. The $200 is a compromise.
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United States
403 Posts
 Posted 09/14/2020  5:01 pm  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply
As of September 9, 2020, there was $1.98 trillion worth of Federal Reserve notes in circulation, so we are about to break a milestone. Over 80% is in the $100 denomination, so we are now circulating between 16 and 17 billion Benjamins.

It is certainly a reasonable estimate that we will surpass 20 billion before a new series is issued.

To remind you, circulation of $100 bills was only 6.6 billion at the end of December 2009 and production of the new color $100 banknote began in February 2010.

Circulation of $20 bills was 6.4 billion at the end of December 2009. But as I said earlier people's attitudes about using a decades-old $20 bill are very different than using an old $100 bill. This reluctance is aggravated because 80% of $100 bills circulate overseas.
Edited by PacoMartin
09/14/2020 5:02 pm
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United States
165 Posts
 Posted 09/14/2020  11:07 pm  Show Profile   Check silverstash119's eBay Listings Bookmark this reply Add silverstash119 to your friends list Get a Link to this Reply
I'd rather put silver and gold back into circulation than worry about fiat currency.
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United States
92283 Posts
 Posted 09/15/2020  11:41 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I'd rather put silver and gold back into circulation than worry about fiat currency.
Never going to happen. Not enough previous metals in the world to back the money supply.
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United States
403 Posts
 Posted 09/23/2020  09:03 am  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply
The amount of federal reserve notes was $44.55 billion at the end of 1969 when the $500 and $1000 notes were announced that they would be destroyed if the central bank got any. The circulation of federal reserve notes was increased to $51.3 billion by the end of 1971 when the gold standard was terminated.

In the last 12 months, the US has increased the circulation of federal reserve notes by $250 billion (the largest year over year increase ever recorded) to meet the demand generated overseas by COVID. Total circulation now exceeds $2 trillion as of September 2020.


Quote:
I'd rather put silver and gold back into circulation than worry about fiat currency.


Is this statement thought through at all?

Edited by PacoMartin
09/23/2020 09:04 am
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United States
92283 Posts
 Posted 09/23/2020  10:43 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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Is this statement thought through at all?
I think not.
Valued Member
United States
403 Posts
 Posted 10/22/2020  10:49 pm  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply

Quote:
just carl
Soon there will be no need for any paper currency. Even now more and more people are just using plastic cards.


You are talking about a theoretical change which is not likely to happen in the next two decades. The new series of $100 bills is to be released in 2034-2038 time period. By that point we may have 40 billion $100 notes in circulation.

Initial Print Order for 2020 in number of bills
$1 1,574,400
$5 736,000
$10 460,800
$20 1,241,600
$50 76,800
$100 1,078,400
Total 5,168,000

When a new design for $100 notes is released people are frantic about trading in the old notes for new notes. This phenomenon is especially acute in foreign countries. In February 2010 the BEP began printing new color $100 notes, and they began to have production problems of the first order in trying to print so many at once.

The $20 banknote does not have this problem since they mostly circulate domestically and are not worth enough to make people terrified of counterfeits. The stock of notes can slowly be converted over more than a decade to a new series.

My prediction is a severe hurt for the US economy as foreigners change several trillion dollars in US$100 bill to Chinese Yuan central bank digital currency (which will exist by that time).
Edited by PacoMartin
10/22/2020 10:57 pm
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