Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?


Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

How Can We Increase Circulation Of The $50

First page | Previous Page | Next Page | Last 15 Replies
 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 79 / Views: 2,650Next Topic
Page: of 6
Valued Member
United States
394 Posts
 Posted 08/10/2020  4:49 pm  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply
USA Distribution of Banknotes per person | % by Value
$100 41.0 81.1%
$50 5.4 5.4%
$20 28.8 11.4%
$10 6.1 1.2%
$ 5 9.4 0.9%
total 90.7


Quote:
jbuck
I do not use the $100, I doubt I would ever see a $200.
However, I am going to go out of my way to find some $50s the next time I get cash.

If we are only circulating less than ten $100 banknotes per person for the domestic market, we could probably meet that demand with increased $50 notes and get rid of the $100.

However, our currency does not just meet domestic demand.

We need a $200 bill for the international consumption of US currency. A few billion $200 bills in circulation would increase the amount of time we have to get a new series of $100 bills into circulation.
Edited by PacoMartin
08/10/2020 8:18 pm
Pillar of the Community
United States
2390 Posts
 Posted 08/10/2020  4:55 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Why do you worry what circulates? You can't change people's ideas. We'll use what we use. Sometimes I get hundreds and fifties sometimes I get 20's. It's all cash.
Pillar of the Community
United States
2017 Posts
 Posted 08/10/2020  5:03 pm  Show Profile   Bookmark this reply Add nfine to your friends list Get a Link to this Reply

Quote:
How Can We Increase Circulation Of The $50


By eliminating the $10 and $20, I suppose.
Valued Member
United States
394 Posts
 Posted 08/10/2020  8:51 pm  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply
Why is it important?
Look at the $100 banknote annual production
1.5 billion notes produced
0.5 billion replacement worn out notes
1.0 billion added to circulating stock annually
0.8 billion used in international consumption
$80 billion international consumption

While the entire trade deficit is more than $80 billion annually, the sum of $80 billion is more than the surplus of any particular goods and service.

The use of the $100 banknote overseas depends on the faith in the ability of the US government to defend against counterfeits, a faith badly shaken by the discovery of the so called super-note in 1989.

The defense again counterfeits depends on the regular replacement timely circulation of new series. Because international consumption is almost entirely $100 banknotes, the entire stock must be replaced relatively quickly. It is entirely different than the $20 banknote because no one cares if they find a few ten to twenty year-old banknotes in their change.

Replacing the 2.4 billion 1990-1993 series $100 banknotes with security thread and micro printing with "big-headed" Benjamins in 1996 was relatively easy. Replacing 7-8 billion green $100 banknotes with color $100 banknotes was a disaster of near epic proportions.

The next replacement may involve as many as twenty billion notes. If it cannot be done quickly, the US is in danger of foreign national moving as much as a trillion dollars to another currency like the Euro.

A second denomination in international currency would provide a huge relief in the pressure, because new series could be staggered five years apart between the $100 and $200 banknotes. If political pressure against a $200 banknote is too extreme, then the only other alternative is to try and change the status of the unpopular $50 banknote.

Pillar of the Community
Learn More...
Germany
563 Posts
 Posted 08/11/2020  01:57 am  Show Profile   Bookmark this reply Add redlock to your friends list Get a Link to this Reply
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
Moderator
Learn More...
United States
90125 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
394 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
394 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.
Pillar of the Community
Canada
3476 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
Pillar of the Community
Learn More...
Germany
563 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
Pillar of the Community
Canada
3476 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
Pillar of the Community
Canada
1058 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).
Bedrock of the Community
Australia
17285 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
394 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.
Valued Member
United States
394 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
Page: of 6 Previous TopicReplies: 79 / Views: 2,650Next Topic  
 
To participate in the forum you must log in or register.



Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2020 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2020 Coin Community Forums
It took 0.69 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05