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 Replies: 9 / Views: 1,789 |
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Pillar of the Community
708 Posts |
Okay, say we go the way of the Euro, and the half, dollar coin and a $2 coin get popular, and we add a 2 cent coin $200 and $500 bill to our currency system. Do you think the $200 bill would be the least popular denomination here in the U.S.? Or do you think the $50 bill would still play that role?
If you think the $200 bill would be the least popular denomination, (which doesn't really make sense, as I can think of many uses for a $200 bill in today's day and age) Why?
Or what denomination would you see to be the least popular?
I'm thinking the U.S. 2 cent coin wouldn't see much circulation, and seeing that some people in Congress are trying to eliminate the penny (I think) I doubt we'd reissue rge 2 cent coin.
Bur anyway, forgetting about coins, in BILL denominations, whuch denomination do you think would be the least popular if we had $5, $10, $20, $50, $100, $200, and $500 bills?
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Pillar of the Community
Australia
560 Posts |
If we did not have electronic transfer of money I could see it, but they are too high in value for the modern economy, and I would not see then spent much.
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Bedrock of the Community
 United States
12815 Posts |
While I would LOVE $200 and $500 bills,  with Enlil. Not many people use the $100 bill (outside of Vegas) with any regularity, so why would those two have any better luck? At this point, that is... As most know, we used to have those high-dollar notes for inter-bank transfers. With cashless transfers these days, a denomination that high is not needed. It would really be fun to go to a mortgage closing with a suitcase of $500 bills though. :) |
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Moderator
 United States
14463 Posts |
I get paid with $50 and $100 at times as an independent contractor. Some are deposited, some are saved for "mad money". I think $200 and $500 notes would circulate less: from bank, to employer, to employee, back to the bank.  |
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Moderator
United States
187914 Posts |
Quote:
If we did not have electronic transfer of money I could see it... I agree. Electronic transactions have made large denomination notes irrelevant. |
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Valued Member
United States
177 Posts |
I would love $200 and $500 bills - so I don't have to carry as much $20s, $50s, and $100s around. Plus the dollar is worth less, so it creates more usage.
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Valued Member
United States
446 Posts |
I don't have a practical use these days for $200 bills or $500 bills. A $200 would be less popular than a $2.
The useful denominations (or denominations that people prefer to use) are $1, $5, $20, and $100. We won't see $500 or higher until Weimar like inflation hits.
Edited by DCM Coins
07/16/2013 10:34 am
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Moderator
United States
187914 Posts |
Quote:
We won't see $500 or higher until Weimar like inflation hits. I noticed that you typed until instead of unless.  |
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Valued Member
United States
446 Posts |
Well, we know there is going to be inflation.....and they say history repeats itself.
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Pillar of the Community
United States
807 Posts |
I tend to think we would have more financial stability if more small and moderate transactions were done with currency rather than bank credit. And even the fabulous $10 000 note counts as a moderate size transaction now (find me a new car you could buy for one of those). But while I would consider it a good move to return the $500, $1000, $5000, & $10 000 denominations to circulation, I doubt there would be any demand for a $200 or $2000.
It's worth remembering that the US is one of the rare countries which has deliberately appreciated a fiat currency, back in the 1860s & 1870s, rather than dropped a deflating one in favour of a change of system. It could be done again, although it would require a reversal of attitudes among politicians & economists alike. Am I holding my breath? Don't believe it!
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Replies: 9 / Views: 1,789 |
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Posted 06/20/2013 02:52 am
