| Author |
 Replies: 55 / Views: 7,351 |
|
Pillar of the Community
708 Posts |
Okay, I noticed in my last poll I did on the $200 bill issue, most votes were against it.
So why are people against it? I hope no one argues that a $200 bill would be confused with a $20 bill, especially since the $20 bill and $200 bill would likely have very different color schemes for this very possible reason. I know some people were claiming that they hated $2 bills because they would confuse them with "small head" $20 bills when they circulated, or that people even taped "zeros" on $2 bills to make them look like $20 bills, but now, even the $2 bill will be getting a makeover during the 2020s (if the $2 bill survives the wrath of the $2 coin by then), with likely a much different color scheme from the $20 bill to avoid confusion between denominations. The $200 bill would also have way more noticeable security features than the $20 bill, and large enough numerals to distinguish the two denominations.
So, what is all of the fuss about with $200 bills? (And don't say "Because we don't need them") because otherwise, you would have to say that we don't need $20 bills as well, and that would not make sense, just as using four $1 bills in place of two $2 bills makes no sense. And come on, do you really think I would go through a post like this without saying: Carrying one half makes more sense than carrying two quarters? (Regardless of the fact that one half weighs exactly as much as two quarters. Still easier to handle one coin in my opinion)
|
|
|
|
Pillar of the Community
United States
919 Posts |
Because very few people have the need to carry over $200 cash around. A $200 bill or $500 bill only makes large transactions easier (some of which are not legal or trying to avoid taxes). If I'm paying for something over $100 I use credit and take the cash back as a reward. I would be willing to bet if you did study on the street very few people even carry a $100 bill.
|
|
Bedrock of the Community
Australia
21786 Posts |
Makes it easier for the drug dealers to operate, and easier for the counterfeiters as well.
I would object strongly against a $200 bill for these reasons.
|
|
Pillar of the Community
United States
602 Posts |
Most normal people like myself forgot what a $100 bill looks like  That being said, it would only be not used more than used. |
|
Valued Member
United States
446 Posts |
Quote:
I know some people were claiming that they hated $2 bills because they would confuse them with "small head" $20 bills when they circulated, or that people even taped "zeros" on $2 bills to make them look like $20 bills, I have been a $2 bill enthusiast for several years, and followed to the extent possible, all internet discussion of them, but have never heard the statement that people confused them with twenties or taped zeroes on them. The only examples of altered bills that I have seen were ones changed into twenties, and that was back in the small head days. As for why people "hate" $200 bills, it isn't that we hate them, but it's because there is no practical use for them.I think you'll have better success if you start a campaign to get the Super Bowl canceled. |
|
Pillar of the Community
United States
2589 Posts |
As I've said before, I think the american dollar has a lot to gain by adding at least one denomination above $100. In the reserve currency world the US dollar loses out oftentimes because without a $500 to compare to the 500 euro note or the swiss 1000 franc note physical storage of USDs becomes more expensive than its competitors. Illegal drug transactions and money laundering will occur regardless of the denominations in circulation, most illegal money is procured in small denominations anyway because thats what people use in everyday commerce. The $500 bill of today would be worth less adjusted for inflation than the $100 bill in circulation when the large size denominations were withdrawn.
|
|
Pillar of the Community
United States
5823 Posts |
People these days rarely carry anything over a $20 bill, perhaps because that is all that ATMs give out. So if people aren't using $50 and $100 bills much, why would you think a $200 (or $500) bill would be remotely popular?
Maybe if hyper inflation ever kicks in, but right now you either use $20s or use a credit card for larger purposes. $200 is still too much money to walking around with in a single bill.
|
|
Pillar of the Community
Canada
3692 Posts |
You're not saving much room in your wallet if you carry 200s instead of 100s. In that circumstance I would call ahead and ask if they take cheques or cards.
There are always competing currencies with high den. bills if you're interested in carrying that much at a time. $500 is ok, but $200 is not practical. It's not as if we're talking about introducing a $100 to make better change for an already existent $200. 5:1 is a good ratio for bills.
And as noted before by me and others, that drug dealers usually carry $20 bills because that's how people pay for everything. Paying for $10-$20 worth of drugs with a $100 bill makes little sense, especially when they have to be secretive in their public finances.
|
|
Pillar of the Community
United Kingdom
1682 Posts |
I lived in the US until 1998, I never carried a bill larger than $20 bill. I can't recall ever having a $50 bill. Always paid for large value purchases with a credit card.
Over here in the UK, I have seen a £50 note but never carried any. With debit cards/credit cards taken at most places, I tend to keep coins in the car for parking.
So the average person, would not notice if the notes above the $20 disappeared.
Ken
|
|
Pillar of the Community
United Kingdom
856 Posts |
Maybe you guys use cash differently, but here in England there isn't even a £100 note! Who needs it? You get dirty looks in shops if you present a £20 because they have to give change. And yet many cash machines (ATMs) issue those but not £5s which are far more useful. My daughter only carries one as an emergency source of cash and one note is small.
Most people here use a card for anything over £20. Even £50s, as Ken mentioned, aren't carried. In fact many shops don't take them for fear of fraud so they are of little use.
OK, the US isn't the UK. But I can't see much use for larger notes myself ...
|
|
Valued Member
United States
239 Posts |
I have to make a point to have cash in my wallet as I use my card for almost everything. When I do I have cash, its usually about $100 unless I'm going on vacation.
|
|
Valued Member
United States
486 Posts |
Guess some of you guys don't get to the BIG shows where there are hundreds of dealers and they are not set up to do credit cards, and if they don't know you they wont take your check for fear of it bouncing.
Being I've been more of a buyer that a seller or trader I always take at least $ 5000. US in hard currency, and that would be way to big a bundle to carry in $ 20's.
Most of the collectors I've talked to at theses shows do the same thing, carry cash, cash will always work, it worked in the old days and it still works today.
Bill Collector
|
|
Valued Member
United Kingdom
152 Posts |
I have to agree with THEBILL COLLECTOR
I am in the UK and wish theres was £100 note I know you get 200 and 500 Euro notes but NO money exchange issue them in UK (google it to see why) Just more propaganda by Governments eg drug dealers,criminals etc.
want to use large notes.
When I done fairs (as a dealer) I would never do credit cards to be honest never got asked to take a credit card.
roll out big bills
yours
michael
Ps when I had a shop in Liverpool UK when buyers came in to buy gold coins gold bars etc. and pay in £5 & £10 notes will what do you think. Drug dealers don't get paid in £50 notes its all £10 & £20 scores.
|
|
Valued Member
United States
486 Posts |
"I have to make a point to have cash in my wallet as I use my card for almost everything"
BTW,
It's not a good Idea to carry cash in your wallet,unless your wallet is in your front pocket, even then it's not a good idea as a lot of other valuable things may be in your wallet, that's one of the first thing a bump and grab guy will go for.
Bill Collector
|
|
Pillar of the Community
United Kingdom
1682 Posts |
The most money that I ever took to a coin show for spending was $200 and having that in $10 and $20 notes makes more sense to me than having it as a single $200, or two $100 notes, or four $50 notes. Also I think dealers would be happier since they would not have to break a large note for me.
I would be a bit nervous having $5000 cash on me regardless of what sort of notes were available but understand that logic of wanting larger notes for that amount.
|
|
Valued Member
United States
486 Posts |
Hi kena, $ 200. may not even pay my traveling, hotel, and food bill for a week end show. Example, right now I'm trying to complete my Small Size $ 1000. note collection, I need one 1928 and one 1934 FRN. I don't like buying high end notes like this without actually having them in my hand, my past experience with a big time dealer was not good. I had to send a note back and he was upset because it was a graded note, he tried to take himself out of the picture by saying that he didn't grade it so he was only going by what was on the holder, this "dealer" has been at this a long time so he should have known that it really was not what was on the holder, ( another reason I don' trust TPG's ) it was not even close, needless to say I wont ever buy anything from him again, not even if I have it in my hand, as at this point I just don't trust him because of him trying to pull something like that. Believe me, there's no way I can buy what I'm looking for with only $ 200. in my pocket. Even if I find some really nice ones at double face, and that's not likely, it would be $ 4000. + plus maybe $ 500. for the trip depending where it is, I just may make it back home with $ 500. left in my pocket. Bill Collector |
| |
Replies: 55 / Views: 7,351 |
Posted 10/04/2013 05:48 am
