Euro currency includes 500 Euro bill ...

[Safeway]

I've thought for a long time that the US needs to print a $500 or $1000 bill.

The 500 Euro bill is worth about $640 USD.

 

[forfor]

FYI, general merchants do NOT accept E500 bills.

 

[Safeway]

So is it used for cash transfers? ... drug deals?

 

[Vegitto]

Nope, only banks do. And one franchise, but if you try to pay with 500's, they take you out back and test if they're real. If they're not, the door locks and you can kiss your ass goodbye. If they are, well, you can buy the product with them.

 

[wfbberzerker]

us currency includes a $500 bill. the largest is $100k.

 

[iwantanewcomputer]

Originally posted by: wfbberzerker
us currency includes a $500 bill. the largest is $100k.

pwned

 

[dullard]

I can't see many good reasons for a $500 or $1000 bill.
[*]Big target for theft (your own wallet and counterfeiters).
[*]Few stores will have change for it. You can't just expect a store to accept it.
[*]Imagine the poor store clerk getting docked $1000 because he/she accepted a fake bill. It isn't too bad with a fake $20, but losing $1000 is horrible.
[*]Credit cards are perfect for transactions of that size.
[*]Is carrying five $100 bills really that difficult?

 

[Safeway]

Originally posted by: iwantanewcomputer

Originally posted by: wfbberzerker
us currency includes a $500 bill. the largest is $100k.

pwned

Not exactly. I am talking about general currency. The $100k are not even legal tender anymore IIRC. Henry E. Chase is on the $10,000 bill, but it is not legal tender either.

 

[wfbberzerker]

Originally posted by: Safeway

Originally posted by: iwantanewcomputer

Originally posted by: wfbberzerker
us currency includes a $500 bill. the largest is $100k.

pwned

Not exactly. I am talking about general currency. The $100k are not even legal tender anymore IIRC. Henry E. Chase is on the $10,000 bill, but it is not legal tender either.

they still technically are legal tender, they just aren't printed that large anymore.

 

[Syringer]

They, along with the sterling pound also have coins in denominations of .01, .02, .05, .10, .20, .50, 1, and 2. The smallest bill is 5, which made it a fvcking hassle to have to carry all those 1s and 2s around everywhere, especially since my wallet doesn't really have a change compartment. Their money also looks much more "fake", as if I can print up some bills right off my printer.

Does anyone know the logic behind having such relatively large coin denominations?

 

[Safeway]

Originally posted by: wfbberzerker

Originally posted by: Safeway

Originally posted by: iwantanewcomputer

Originally posted by: wfbberzerker
us currency includes a $500 bill. the largest is $100k.

pwned

Not exactly. I am talking about general currency. The $100k are not even legal tender anymore IIRC. Henry E. Chase is on the $10,000 bill, but it is not legal tender either.

they still technically are legal tender, they just aren't printed that large anymore.

Link to government site.

They are not printed at all anymore. The $100,000 bill was used for a very, very short period. It wasn't used between banks, it was used between government of countries. The $10,000 was used between banks prior to wire transfers, etc.

Please think before you speak. Current printed notes include $1, 2, 5, 10, 20, 50, 100.

 

[Syringer]

.

 

[Safeway]

Originally posted by: Syringer
They, along with the sterling pound also have coins in denominations of .01, .02, .05, .10, .20, .50, 1, and 2. The smallest bill is 5, which made it a fvcking hassle to have to carry all those 1s and 2s around everywhere, especially since my wallet doesn't really have a change compartment. Their money also looks much more "fake", as if I can print up some bills right off my printer.

Does anyone know the logic behind having such relatively large coin denominations?

No clue about the coins, although I found a handful of 1 and 2 Deutsche Mark coins (about $60.00 worth) in my drawer, which is what started this whole thing. There are still a few places that will convert to USD or Euro from the phased out currency.

 

[notfred]

They use coins because they're more durable than bills. You mint a coin once, and itlasts nearly forever. You print a bill, and it lasts a coupkle years and gets worn out and has to be replaced. Small bills are circualted constantly and wear out much faster than larger denominations, and it becomes a significant expense to keep replacing small bills, especially when thier value is so small as compared to the cost of repalcing them.

 

[wfbberzerker]

Originally posted by: Safeway

Originally posted by: wfbberzerker

Originally posted by: Safeway

Originally posted by: iwantanewcomputer

Originally posted by: wfbberzerker
us currency includes a $500 bill. the largest is $100k.

pwned

Not exactly. I am talking about general currency. The $100k are not even legal tender anymore IIRC. Henry E. Chase is on the $10,000 bill, but it is not legal tender either.

they still technically are legal tender, they just aren't printed that large anymore.

Link to government site.

They are not printed at all anymore. The $100,000 bill was used for a very, very short period. It wasn't used between banks, it was used between government of countries. The $10,000 was used between banks prior to wire transfers, etc.

Please think before you speak. Current printed notes include $1, 2, 5, 10, 20, 50, 100.

sigh....
from the same site

These notes are legal tender and may be found in circulation today; however, most notes still in circulation are probably in the hands of private numismatic dealers and collectors.

 

[Syringer]

"Wow that thing must be worth, a million dollars!"