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 Replies: 54 / Views: 10,480 |
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Bedrock of the Community
Australia
21788 Posts |
If the European Union doesn't get its act together soon, with the issuance of currency notes they may be in trouble.
There is going to be an explosion and cross use of crypto currencies.
That will make the European economy far harder to control, and the payment for illegal drugs far easier.
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Pillar of the Community
Canada
2580 Posts |
Quote:
BTW, in Sweden, the war on cash seems to have called a truce. The cash supply has returned to the level it was 2 years and 9 months ago when the last two banknotes were reissued. -This may be the result of perceived (or real) Russian navy trespasses into various regions throughout Scandinavia (the Baltic Sea) and Sweden's recent efforts to prepare its citizens for possible emergencies. I believe the Swedish government realized that should their grid go down a large portion of their population wouldn't have any e-money available (or means of commerce). The BOC published a paper last year speculating on the pros/cons of going cashless & the authors suggested a similar scenario in times of crises/or emergencies. Instead of taking measures to protect/induce more of its population to use cash- the BOC then started to investigate employing its own cryptocurrency. Quote:
Since this war on the criminal banknote started, the 500 Euro notes in circulation are down to what they were 10-11 years ago. The Better Than Cash Alliance https://www.betterthancash.org is winning the battle towards a cashless society hands down. Several of its proponents like to dub high denominations (such as the 500 Euro) with terms like the "Bin Laden" note even though many of them also cite Bitcoin as the realm of mostly criminal commerce. |
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Valued Member
United States
411 Posts |
As of end of June 2019 there are 298,545,000 200EUR banknotes and 487,175,000 500EUR banknotes in circulation. But they printed a billion 200EUR notes of the Europa series expecting that denomination to be more popular since there is no 500EUR denomination in the Europa series.
The colorful nickname, "The Bin Laden", has probably done a lot to change people's perception of the 500EUR banknote, but frankly it is certainly much easier to launder money using some of the 13.4 billion US$100 banknotes in circulation. They outnumber the 12.4 billion $1 banknotes and the 9.4 billion $20 banknotes.
Laundering money requires banknotes of a significant value, but if they are extremely rare they attract undue attention.
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Valued Member
United States
411 Posts |
The €500 banknote seems to be getting destroyed at the rate of about 9 million per month for the last four months, so with 471 million in circulation there should be a reasonable supply for many years.
The €200 banknote, as predicted is gaining in popularity at 9.4 million per month for 2019. Overall there is no decreases in the cumulative value of Euro banknotes.
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Pillar of the Community
United Kingdom
2624 Posts |
For all the talk here about the use of notes, what about the matters of collecting?
I collected the earlier series of notes (sans €200 & €500.) when I first holidayed in the zone.
I find the designs fairly un inspiring and presume the will never have much collectors value due to their large issuance.
Does anyone here have much interest in these? Is anyone looking to add a €500 to their collection?
It seems quite a lot of money to have tied up in something modern, and with presumably a bad outlook.
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Valued Member
United States
411 Posts |
With over 470 million in circulation, it's value as a collector's item is minimal. It is just tying up a lot of money in a note which will be difficult to get rid of.
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Pillar of the Community
United States
843 Posts |
I travel to Europe quite often, so I always have an envelope of euro notes on hand. The designs were interesting twenty years ago, but even with the updates the novelty has worn off. I just flipped through my envelope and see several series with minor changes over the years. The color scheme is gaudy and the different sizes annoy me (harder to count and sort). (Yes, I know why they do that...)
As for 500-Euro notes, I've only ever had one and couldn't wait to spend it. Too much money trapped in one piece of paper for my tastes. And given that they have very little if any collector premium, good riddance. I do like the 200-Euro notes: the yellow is attractive, but again, I don't like to trap my money like that. And they're hard to spend at cafes etc.
Edited by jeffbuckes
10/03/2019 10:35 am
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Pillar of the Community
Canada
2580 Posts |
I have only met a few collectors who have a taste & budget for higher denominations. They would likely zero in on the 2002 Irish or Finish, Austrian or Spanish Duisenberg notes (though I heard the Irish 500 was pretty scarce too). I would consider this a "niche market" or "specialty" of the hobby.
As far as Euros on the whole go- I believe there's greater demand for the 2002 lower denominations (5,10,20) with the Duisenberg & Trichet signatures. I don't think the Draghi notes have the same demand. I have created a short video with more info on this topic on my signature panel & on my "Notaphilyc Culture" Website.
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Valued Member
United States
411 Posts |
Number of notes in circulation as the end of January 2020 (multiply by a million)
440.5 €500 banknotes
431.9 €200 banknotes
3,036.7 €100 banknotes
10,980.7 €50 banknotes
8,462.7 €5+€10+€20 banknotes
The number of circulating €200 banknotes has nearly surpassed the €500 banknotes.
Now that the coronavirus has reached Italy who knows what will be the effect on banknotes. People may simply use electronic payments to replace the smaller value banknotes, but keep the less widely circulated €200 notes as cash backup.
Edited by PacoMartin
02/24/2020 11:06 pm
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Replies: 54 / Views: 10,480 |
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Posted 07/13/2019 1:29 pm
