not really political, but bound to turn that way...

[Colt45]

I was listening to woody guthrie (how all good threads start, of course), and in one song, he mentions a $1000 bill. So I got to thinking...

The US quit printing $500+ bills in the 40's, and revoked them entirely in the 60's. Prior to that, they had produced bills at considerably higher value (10k, maybe higher, iirc). So, in the '40s, when they quit printing the higher values, the largest bill they still printed (and continue to this day) was the $100, which works out to >$1000 nowadays, when you account for inflation..

so the question holds, why is the largest bill still the $100?
Should the treasury introduce a $500 and $1000 bill?

Is the fed afraid of people having their life savings fitting in their trousers?

 

[nobodyknows]

As I recall they were making $1000 bills as recently as ~ 20 years ago? They reason they quit was to make it harder from the drug dealers to transport large amounts of cash.

 

[nageov3t]

considering the extent to which our society is moving more and more to cashless, I don't really see how the larger bills would fill any significant legal need.

 

[Schadenfroh]

<fear_monger>You will need 100K bills when hyper inflation hits!</fear_monger>

considering the extent to which our society is moving more and more to cashless, I don't really see how the larger bills would fill any significant legal need.

I agree, in a few decades I doubt that cash will be used for anything other than transactions that require privacy.

 

[IronWing]

Originally posted by: loki8481
considering the extent to which our society is moving more and more to cashless, I don't really see how the larger bills would fill any significant legal need.

This really sucks too. Living on the border, I have fantasies about coming across bales of cash thrown out of airplanes and speeding cars by desperate drug runners evading the law. But, no, the drug runners use the ACH to move money just like normal folks.

 

[retrospooty]

Originally posted by: loki8481
considering the extent to which our society is moving more and more to cashless, I don't really see how the larger bills would fill any significant legal need.

Exactly... EVerything is ATM/Debit cards now anyhow. If I am going to buy something large like say a flat sceen TV, or down payment on a car, I am not bringing30 $100 bills, I am bringing my ATM card, or if they dont accept that, a cashiers check. having 3 $1000 bills wouldnt help me at all.

but we should get rid of nickels and pennies. Just round up to the nearest dime, and price things accordingly.

 

[BrownTown]

I don't buy anything with cash that costs more than even $20, I have only ever had $100 as Christmas presents, I wouldn't even WANT a wad of 100s in my wallet at any given time.

 

[Balt]

It's hard enough to break a $100 at many locations. Don't need to make things more difficult.

 

[BigJelly]

Originally posted by: BrownTown
I don't buy anything with cash that costs more than even $20, I have only ever had $100 as Christmas presents, I wouldn't even WANT a wad of 100s in my wallet at any given time.

never been to vegas

Seriously other than vegas having more that $50 cash is a waste; get a credit card as other have said (and pay it off every month).

 

[glenn1]

Use a ?500 note instead <shrug>. Large denomination Euro bills FTW.

 

[5to1baby1in5]

Originally posted by: BrownTown
I don't buy anything with cash that costs more than even $20, I have only ever had $100 as Christmas presents, I wouldn't even WANT a wad of 100s in my wallet at any given time.

Odd, I know people that carry a couple of thousand around with them all the time. They pay cash for everything and don't want a credit card in their wallet.