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 Replies: 6 / Views: 1,870 |
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Pillar of the Community
708 Posts |
Okay, the full title on this thread was going to be "Has anyone here heard any further news on the possible reissue of the $500 Bill?" but of course, that would not fit.
So, has anyone heard if the Treasury and Secret Service are still debating over whether the $500 bill should be brought back into circulation, due to $100 not going as far as it used to? Last I heard, was months ago, when Shawn Smealie of the Dollar Coin Alliance to me in an email, that there was discussions going on about the reissue of the $500 bill, and that the Secret Service opposed the idea, due to worries of counterfeits, but the Treasury wanted it, due to the $100 bill's declining purchasing power, however, I suspect that, even if a new $500 bill is issued, it will not happen before 2020 or beyond, with the next currency redesign.
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New Member
United States
28 Posts |
Last I heard many higher up law enforcement officials want to get rid of $100 bill. It enables drug importers to export the money easier, if we only had $20 bill it would take five times the space to export that money. Makes sense to me I guess, I work in a restaurant and 60% of people pay with some form of plastic and it seems to grow every year. Although paper money will never be obsolete it is becoming less and less necessary.
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Pillar of the Community
Canada
4911 Posts |
 , if a $500 bill were issued it would enable crime and money laundering to be much easier. The exact reason why Canada got rid of the $1000 bill. Much of the $1000 bills in Canada now circulate between gangs and large drug operations still and will most likely never be handed back to the banks. Feel free to call me Will.
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Pillar of the Community
Canada
3692 Posts |
I could never understand why criminals use legitimate money for their dealings. I know it's to blend in to society, but that makes them hypocrites. So the statement that gangs use $1000, I find hard to believe. That means that the note would have no value outside of criminal dealings, which is the opposite of what they want and they can't spend them into circulation, so there's no point beyond its monetary symbolism. Personally, if I were a criminal with a $1000 and I knew I couldn't spend it outside of illegalities I would try to liquidate it because a $1000 in my possession would not blend into the rest of $20s that criminals use the most.
Personally I don't see the need for them, just carry 5x 100s, because people who demand this denomination are not dealing with anything less than $2000. I wouldn't want to be seen spending a $500 note anywhere.
Actually, if I reaaaaally wanted to save some space I would buy some 500 Swiss Francs banknotes, or Euros - even better. Euro is a great currency for mafias.
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Pillar of the Community
Canada
4911 Posts |
Interesting perspective on things libertad, I only brought it up cause I read an article about it. I personally only like carrying $20 bills and I actually will try converting my larger bills into twenties unless my bills are lower.
Feel free to call me Will.
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Pillar of the Community
978 Posts |
the $500 dollar bill can still be found in circulation today. it has not lost its leagl tender status. and can be reissued from a bank or business if they want to let it go. this is true for all high denominational bills.
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Pillar of the Community
United States
7614 Posts |
Don't think it'll ever be printed again. They'd quit printing 100$'s if they thought it would reduce crime.
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Replies: 6 / Views: 1,870 |
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Posted 03/26/2014 7:50 pm
