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Replies: 39 / Views: 11,840 |
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Valued Member
United States
411 Posts |
Production quantities and amount in circulation as of end of 2016 3,943,708 : $500 (over 284,000 still in circulation) 2,675,016 : $1000 (over 165,000 still in circulation) 71,904 : $5000 (over 350 still in circulation) 64,624 : $10000 (over 340 still in circulation)
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Bedrock of the Community
United States
94367 Posts |
Thanks for the updated figures. Amazing the number of $500s and $1Ks that are still out there.
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Pillar of the Community
United States
4637 Posts |
Just for the sake of argument, the figures posted by Paco are probably the amount printed minus the amount turned in to the government....but who's to say the amount of notes destroyed by fire and other means of destruction
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Bedrock of the Community
United States
94367 Posts |
Good point. I imagine that many of these high denoms were stashed away and never found, and that many are still undisturbed in bank boxes. All in, though, the circulated $500s and $1Ks bring a small premium over face compared to their inflation-adjusted values. They're basically commodities that PM collectors like to own for the fun of it.
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Valued Member
United States
411 Posts |
Certainly the government has no way of knowing how many banknotes are destroyed by fire or simply in the stomach of a dog somewhere. In many European governments after some decades the oldest notes are simply declared "invalid". In the USA and Canada every banknote is valid at face value forever.
But the presumption is very few of the high value notes were carelessly lost, whereas we presume hundreds of millions of the circulating 11.7 billion $1 banknotes are actually lost.
Theoretically a table of serial numbers could be made by the government of the roughly 700 banknotes over $1000 that are believed to be in existence.
Canada reports 765,274 of the CAD$1000 banknotes are still in circulation, although all such notes that come into government possession have been destroyed since the year 2000.
Extremists in the ECB are not content to merely stop producing the 500 Euro banknote and destroying the notes that come in the possession of the ECB. They want to put a timeline and declare all such notes invalid after some future date. This outcome seems unlikely as there are over 500 million banknotes of this denomination in circulation.
Edited by PacoMartin 04/30/2017 9:45 pm
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Bedrock of the Community
United States
94367 Posts |
I bought one of each just to show to friends. They always get a lot of "wows".
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Pillar of the Community
United States
4637 Posts |
I'm on the same bus as Mr.Frog....bought one of each to show civilians, and they get more oohhs and aahhhs than anything else I show them.
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Valued Member
United States
411 Posts |
In 1945 $1,000 had the same buying power as $13,000 today. There is no way that the collectible value of these banknotes has kept up with inflation.
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Pillar of the Community
United States
822 Posts |
I heard a story from a local dealer who got a call from a lady who had opened her deceased husband's safety deposit box and found ten crisp $1000 bills. Would he be interested in buying them? He certainly would, he told her. Then she added, "and the bank manager checked each one with an anti-counterfeiting pen, and they're all real!" 
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Replies: 39 / Views: 11,840 |