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 Replies: 19 / Views: 2,741 |
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Pillar of the Community
708 Posts |
I was just wondering if people here thought that, if I could ever get a lobbyist group (maybe from the casino industry or maybe even Crane & Co. or something) if I could get at least new $200 and $500 bills issued, if not also $1,000 bills. I mean, like I said, Europe has their E100 note which tops our $100 U.S. Federal Reserve note, an E200 note that would top a $200 U.S. Federal Reserve note, and an E500 note that would top a $500 U.S. Federal Reserve note, which is the reason for my proposal of going up to a $1,000 bill here in the U.S.
So, would it be possible to get these large denominations issued in the U.S. if I had a lobbyist group that has special interests in this area, such as Casinos or Crane & Co.?
And is going up the a $1,000 bill pushing mt luck? (Should $500 be the largest bill I lobby for, or is it okay to go for a $1,000 bill?)
Do you think that the casino industry or Crane & Co. who makes the paper for U.S. currency might take up an interest in joining my lobby, seeing as the paper for $200, $500, and especally $1,000 bills would have to be very high-tech and secure to combat counterfeiting, and because of the money they would make off the government, selling them this advanced, and more expensive currency paper? (Then maybe Crane & Co. would let the $1 bill go, for a coin)
Just curious to know what you all think. Thanks for any input.
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Bedrock of the Community
Australia
21788 Posts |
If the $200 and $500 bills see normal issue, it would almost certainly be a 'done thing' that the penny and nickel will be withdrawn from issue, except perhaps for NCLT issue to collectors.
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Moderator
 United States
188660 Posts |
Personally, I do not see the need for them. Then again, I seldom have need for anything larger than a twenty, so I may be biased.  |
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Pillar of the Community
Australia
7096 Posts |
I would think that IF these denominations did ever become a part of the regular circulating banknote issue in the US it would be simply because hyperinflation has hit the economy.  Be very careful what you wish for  |
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Pillar of the Community
United States
965 Posts |
I wonder, who would be on a $500 or a $1000? would it be McKinley & Cleveland again?
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Valued Member
United States
318 Posts |
Grassroots campaigns usually are for the Common Man, and us middle class people don't have much use for a $1000 note. You'll have a better chance of saving the penny, because it will poor people who will be hardest hit rounding up to the nearest nickle.
There's a lot of anxiety over large bills in this country. We have been conditioned to think that only criminals use cash. Law abiding citizens use credit cards, like good little consumers.
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Moderator
United States
188660 Posts |
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because it will poor people who will be hardest hit rounding up to the nearest nickle. No, they will not. Rounding goes to the nearest, not the highest. Besides, Home Depot is setting the standard for cash sales to be rounded down to the nearest nickel. The one to four cents they lose on a transaction is still less than what they would have had to pay the bank if you had used a credit card. |
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Bedrock of the Community
 United States
12839 Posts |
Those large denomination notes were originally meant for inter-bank money transfers, before the days when wire transfers and checks were common. There's no need for them today, until, as has been pointed out, inflation hits and we start to look like early 1990's Mexico with 10,000 peso notes and such.
That said, it would be fun to show up at a real estate closing with a handcuff-attached briefcase full of $1k notes...
Lobby away. I wouldn't mind seeing them out there one bit, but I'm skeptical of how successful your efforts would be. You might have a plank to stand on with the gaming industry, which does use the $100 extensively. So they may want to lobby for a 200, 500. The other problem would be spending them, which would probably be limited to Vegas. Some retail establishments don't even accept 100's or 50's these days.
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Moderator
United States
188660 Posts |
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That said, it would be fun to show up at a real estate closing with a handcuff-attached briefcase full of $1k notes... Quote:
Some retail establishments don't even accept 100's or 50's these days. That is my concern. I had to deposit the last $100 note I acquired because no one would take it.  |
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Moderator
United States
14463 Posts |
when I work on the race track on the weekends, I usually get $100 notes. I keep one for emergency spending, but most get deposited in the bank. Last time I spent $100 notes, was buying my last Morgan dollar at the local coin show. |
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Valued Member
United States
318 Posts |
If I had a business, I would round all transactions up to the nearest nickle and donate the difference to charity.
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Moderator
United States
188660 Posts |
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If I had a business, I would round all transactions up to the nearest nickle and donate the difference to charity. And I would still take all of your customers because I will round down. |
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Bedrock of the Community
United States
12839 Posts |
I really enjoy how this topic went from $1000 bills to nickels.
I seriously *would* enjoy seeing those large-denomination bills back in circulation.
"Can you break this $500? It's legit. I promise. You've never heard of this bill? Well, they just came out earlier this year. Wait, why are you calling the police?!"
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Pillar of the Community
United States
1397 Posts |
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IF these denominations did ever become a part of the regular circulating banknote issue in the US it would be simply because hyperinflation has hit the economy. We are very close to that happening but most people are still in denial about it. It's a lot easier for people to stick their head in the sand and pretend everything is fine than to face reality. With the purchasing power of the dollar being eroded there will be a need for larger denomination notes soon enough. But I personally am in no hurry to see that happen either since I understand what that really means. |
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Moderator
United States
188660 Posts |
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I really enjoy how this topic went from $1000 bills to nickels. I think it posted in the wrong topic, but I had to respond.  |
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Pillar of the Community
 708 Posts |
Nickelman, How soon could you see the U.S. "at least" reissuing the $500 bill? I mean, there was a Congressional testimony titled "Will Jimbo Euro Noyes Threaten the Greenback?" and in that testimony they were saying "It's not on the "drawing board" But it IS on the "radar screen" and another person in the testimony said "Ueah, its not exactly a "front burner" item but it IS on the top of the stove, and it will continue to get attention" So just "how" close do you think we are to $500 bills, and possibly $200 and or $1,000 bills (But please, no suggestions for a $250 bill, some people I talked to in the past suggested that, and I said, "No, a $250 bill is just too odd, and I would rather have an even $200 bill" Besides, with all of the young teenagers we get for cashiers at some places, who are not the brightest, might get confused by a $250 bill as opposed to a $200 bill) Here is the link to the Congressional testimony I spoke of: http://commdocs.house.gov/committee...a51647_0.htm |
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Replies: 19 / Views: 2,741 |
Posted 02/16/2013 02:01 am
