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I Emailed The Federal Reserve Board On $200 And $500 Bills

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Pillar of the Community

708 Posts
 Posted 10/28/2013  02:34 am Show Profile   Bookmark this topic Add Fox to your friends list Get a Link to this Message Number of Subscribers
Here are a couple emails I wrote. They are kind of long, and I did not really get all of my questions answered, so I guess they were just shrugging me off. Or maybe they just did not have all of the answers yet, as its still in the early planning stages and has a long way to go. I doubt they will reissue the $500 bill or issue $200 bills until the next currency redesign which is set to start in 2020, so thats still a ways off. Unless they become desperate to keep up with the times.

Here is my first email:

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Hi,
I have just been made aware recently of talks of reissuing the $500 Federal Reserve note, due to the fact that, a $100 bill does not go as far as it once did. I've heard that the Secret Service opposes the idea due to counterfeit issues, but the Treasury supports it because of the U.S. dollar's declining purchasing power. I have supported this idea since the mid 1990s. I was just wondering though, are there any designs on the planning boards, or in mind right now? And if so, are they waiting until around 2020 with the start of the next currency redesign, the "Meaningful Access" redesign to release a new $500 bill if they choose to do so? Or may they do it sooner? Also, are they going to keep President William McKinley on the obverse and the "denomination in circle" design on the reverse of the new $500 bills from the Series 1928/1934/1934A designs, but just modified and updated in design? I would like those two designs to be kept in a new $500 bill. The oval with the 500 in the center of the old $500 bill's reverse is my favorite currency design, actually, and I think that, not only should there be color shifting ink on the obverse of the new $500 bill, but on the reverse the large numeral "500" in the oval should be made out of color shifting ink as well. Color shifting ink on both sides on the new $500 bill may be a very good security feature, and hard to replicate security feature. And also, a golden colored Motion strip woven into the paper to the right of McKinley where little 500s turn into eagles when the bill is tilted. Also, could you please consider getting Congress to authorize a Theodore Roosevelt $200 Federal Reserve note with an image of Mount Rushmore on the reverse? A $200 bill would be a good idea along side a new $500 bill in my opinion, similar to the Euro. The $200 bill could have a red Motion strip woven into the paper to Teddy Roosevelt's right, with little 200s that turn into Statues of Liberty when the bill is tilted. If not a Theodore Roosevelt design $200 bill, could we please at least have "some" type of $200 denomination bill?
Thank You so much for your time, and I look forward to hearing from you.

----------------------------------------------------------------------------------------------------------------------------------------------------------

And here was the reply to that email:

------------------------------------------------------------------------------------------------------------------------------------------------------

Thank you for your recent correspondence in which you expressed your design
input on the potential redesign of the $500 note.

We appreciate receiving observations that bear on the Federal Reserve's
responsibilities, particularly from citizens like you who are concerned about
the economy.

Again, thank you for writing and sharing your thoughts with us.

Sincerely,
RNS
Board Staff

--------------------------------------------------------------------------------------------------------------------------------------------------------

Notice how they said "Thank you for your input for the potential "redesign" and NOT potential "reissue" of the $500 note? Saying "redesign" instead of "reissue" sounds more positive about them reissuing the $500 bill to me, because they may have already decided to reissue the $500 bill, but are just now thinking of designs for it. However, they forgot to mention anything about the $200 bill, so I wrote them back on that and here is my other email:

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Hello again,

I just wanted to run the idea of $200 Federal Reserve notes by you again. I am grateful for your reply about my design suggestions for the $500 note, should it be reissued. However, when my mother and I go grocery shopping and to other stores, we usually spend around $200 a lot of the times, and a $200 note would be nice and convenient for when we go shopping. I know carrying two $100 bills over one $200 bill may not seem like a big deal to many people, but I like to carry as little amount of currency notes as possible, and I would rather carry two $200 notes than four $100 notes. For this very reason, I wish most retailers would use $2 bills and half dollar coins more often.

But anyway, as I stated, I am aware that a $200 denomination banknote would first have to be authorized by Congress, due to the fact that the United States Treasury has never been authorized to issue $200 denomination notes. So, could you please work with Congress to get a $200 note circulating if the $500 note is reissued?

Oh and one last thing. Is the reissue of the $500 note coming close to being decided? And if so, is the U.S. close to getting $500 notes back in circulation?

Again, please consider acting on a $200 note as well.

Thank You again for your time, and fast response.

---------------------------------------------------------------------------------------------------------------------------------------------------------

And here is what the Federal Reserve said:

-----------------------------------------------------------------------------------------------------------------------------------------------------------

Thank you for your recent note in which you expressed your views on the $500 and
$200 note.

We appreciate receiving observations about our nations currency. At this time we
have no information about what currency will be issued or redesigned next.
Again, thank you for writing and sharing your thoughts with us.

Sincerely,
RNS
Board Staff

----------------------------------------------------------------------------------------------------------------------------------------------------------

Well, at least here, they said "the $500 AND $200 note" as if they were including the $200 bill in the plans, except I'm suprised that they did not tell me that, "Currently the next denomination to be redesigned, would be the $10 bill" because we all know that, currently, thats the plan, unless counterfeiting issues effect anither denomination before that.

I know that these emails could be meaningless form letters, but I thought they were interesting responses, even if they did not answer all of my questions, but they just might not be 100% syre about these things just yet, so maybe they just answered as best as they could.
Edited by Fox
10/28/2013 02:40 am
Pillar of the Community
ckrakowski's Avatar
978 Posts
 Posted 10/28/2013  4:16 pm  Show Profile   Bookmark this reply Add ckrakowski to your friends list Get a Link to this Reply
i have some bad news for you your efforts to get the 500 are fruitless as the 500 dollar bills is still in circulation. what I mean is if you have a 500 dollar bill you can go out and spend it for 500 dollars. it still has full legal tender status.
Pillar of the Community
708 Posts
 Posted 10/28/2013  10:44 pm  Show Profile   Bookmark this reply Add Fox to your friends list Get a Link to this Reply

Quote:
i have some bad news for you your efforts to get the 500 are fruitless as the 500 dollar bills is still in circulation. what I mean is if you have a 500 dollar bill you can go out and spend it for 500 dollars. it still has full legal tender status.


O...kay That made a whole lot of sense, seeing as I was talking about "NEW REISSUED, REDESIGNED $500 BILLS", and not the older ones currently in collector hands. Besides that, with no high-tech security features, and due to the fact that I've heard that the older $500 bills would fail the "pen test" since the paper was different back then, or so I heard, a cashier would mark the $500 bill and call it fake.
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jbuck's Avatar
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187702 Posts
 Posted 10/29/2013  10:11 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I agree. If the $500 note is going to make a comeback, it needs to be reissued with all the latest security features of the new $100 note.
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CoinCollector2012's Avatar
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8137 Posts
 Posted 10/29/2013  10:46 am  Show Profile   Bookmark this reply Add CoinCollector2012 to your friends list Get a Link to this Reply
It should have more features than the new 100 due to its large face value.
Pillar of the Community
708 Posts
 Posted 10/30/2013  01:28 am  Show Profile   Bookmark this reply Add Fox to your friends list Get a Link to this Reply

Quote:
I agree. If the $500 note is going to make a comeback, it needs to be reissued with all the latest security features of the new $100 note.


But as CoinCollector2012 said, the $500 note should have MORE security features than the $100 note, if reissued.


Quote:
It should have more features than the new 100 due to its large face value.


As I said to this as well.

(I only worry that, for some people, maybe too many security features on one denomination may become confusing. If there is to be more features on the $500 note than on the $100 note, they need to be fairly easy to notice, yet very hard to replicate.)
Edited by Fox
10/30/2013 01:32 am
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jbuck's Avatar
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187702 Posts
 Posted 10/30/2013  11:54 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Fine. At least or more.

My point was to agree with your point, that a small head $500 note is not going to work.
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