A chance for new $500 and possibly $200 Federal Reserve Notes?
Drago the Wolf
issue, however, those who are serious with me, I'd like to talk $200
and $500 bills with you.
Okay, the Obama Administration and Treasury are printing more and more
$100 bills, as time goes by, the demand gets higher, so, does anyone
here think that, maybe after they print a large amount of the
colorized NexGen $100 bills, that, maybe they will consider printing
at least $500 bills again, if not $200 bills?
I wrote my Congressmen on issuing new $200, $500, and $1,000 bills
again, just because of the fact of the demand for $100 bills steadily
rising.
So, I know we've been though this talk before, but, with the
increasing demand for $100 bills overseas, where there are 200 and 500
Euro notes, does anyone here think that maybe, in around 2011 or so,
we may get a $500 bill back into circulation? As I said, if they are
cranking out larger and larger ammounts of $100 bills, a $500 bill
would seem more practical, cost effective, and easier to keep up with
the demand for U.S. currency.
I also did write a letter to President Obama about issuing new $200,
$500, and $1,000 bills, not only to keep up with the demands for U.S.
currency overseas, but also to help with inflation for those (like me)
who prefer to use paper over plastic. I will post the reply here when
I get it, as I always do.
Oh, and I don't care if they put my name in the "This guy is a nutcase
file" and my letters in the "circular file" as some of you may call
it.
Tom
Bruce Remick
"Drago the Wolf" <malanu...@aol.com> wrote in message
news:8e3e3da7-d061-40f5...@h11g2000yqb.googlegroups.com...
> Here we go again. How I love annoying some of you guys with this
> issue, however, those who are serious with me, I'd like to talk $200
> and $500 bills with you.
>
> Okay, the Obama Administration and Treasury are printing more and more
> $100 bills, as time goes by, the demand gets higher, so, does anyone
> here think that, maybe after they print a large amount of the
> colorized NexGen $100 bills, that, maybe they will consider printing
> at least $500 bills again, if not $200 bills?
Take a walk through your neighborhood and survey your neighbors about how
they would be most apt ot pay for a $100, $200 or $500 purchase. I'd be
surprised if any answered that they would go to the bank for a bill of that
denomination (assuming all these amounts were available). Also, I doubt you
could document evidence of a significant increase in demand for $100 bills
among the population. I would imagine that these bills last for many years
longer than ones, fives, and tens.
>
> I wrote my Congressmen on issuing new $200, $500, and $1,000 bills
> again, just because of the fact of the demand for $100 bills steadily
> rising.
Again, can you document this increase?
>
> So, I know we've been though this talk before, but, with the
> increasing demand for $100 bills overseas, where there are 200 and 500
> Euro notes, does anyone here think that maybe, in around 2011 or so,
> we may get a $500 bill back into circulation? As I said, if they are
> cranking out larger and larger ammounts of $100 bills, a $500 bill
> would seem more practical, cost effective, and easier to keep up with
> the demand for U.S. currency.
So are you saying that the increasing demand for $100 bills is from
overseas? From foreign nationals or from US citizens? $50 bills can't
satisfy this demand? Last time I was overseas, the banks and cambios were
more reluctant to accept our $100 bills than lesser denominations. I
presume this is no longer the case, but I wouldn't be surprised if there was
a lingering "$2 bill syndrome" of distrust in many minds.
>
> I also did write a letter to President Obama about issuing new $200,
> $500, and $1,000 bills, not only to keep up with the demands for U.S.
> currency overseas, but also to help with inflation for those (like me)
> who prefer to use paper over plastic. I will post the reply here when
> I get it, as I always do.
With Obama, you might be more successful suggesting a billion-dollar bill.
Why mess with pesky million dollar bills?
Jerry Dennis
> "Drago the Wolf" <malanutt4l...@aol.com> wrote in messagenews:8e3e3da7-d061-40f5...@h11g2000yqb.googlegroups.com...
>
> - Show quoted text -
Hey. Here's a thought. Let's encourage large bills in order to use
the paper we'll save by NOT printing $1 bills. That'll encourage
using $1 coins and save money... Wait, never mind, that wouldn't
contribute to the Obama "drive America into bankruptcy" plan.
Jerry
Thomas A.
Would you actually walk down the street with a $1000 or $500 bill in your
pocket? And feel safe about it?
This is why banks invented personal checks, oh so many years ago. People do
not like walking around with large amounts of cash on them.
Drago the Wolf
>
> Would you actually walk down the street with a $1000 or $500 bill in your
> pocket? And feel safe about it?
>
As a matter of fact, yes, I would walk down the street with a $500, or
$1,000 bill in my pocket. Who needs to know its even on me? What? Do
you think I'm going to go walking down the street singing "I got a
$1,000 bill in my pocket, do da, do da" or talk about having a huge
amount of money, to anyone?
The point is, I would feel MUCH safer caryying a couple $1,000 bills,
than a bunch of $100 bills bulging in my pocket. Thieves will see that
bulge, and think or know that you are carrying a wad of cash. I would
like to put a couple $1,000s in my wallet, and call it a day. No need
to let anyone now I'm carry it. The only real time I could see a
mugger get you, is if they see you pay for a $500 or less purchase,
and you pay with a $1,000 bill, and the mugger sees the cashier hand
you a $500 bill or a $100 and a couple $200s and some other odd change
back, then waits to steal that remaining $500 and some dollars from
you.
Tom
oly
Get over it "dud".
The federal government has spent billions of $$$ in the last eight
years to combat "money laundering".
Issuing a new $500 or $200 would be the same as shooting all those
efforts in the foot.
Ain't gonna happen (that is, short of an overtly hyerinflationary
scenario).
When you send these sorts of "letters" to Congresspersons, you're
likely getting placed on a list of dubious persons who need to be
"rounded up" in the event of a "national emergency".
oly
Mr. Jaggers
>> Would you actually walk down the street with a $1000 or $500 bill in
>> your pocket? And feel safe about it?
>>
>
>
> As a matter of fact, yes, I would walk down the street with a $500, or
> $1,000 bill in my pocket. Who needs to know its even on me? What? Do
> you think I'm going to go walking down the street singing "I got a
> $1,000 bill in my pocket, do da, do da" or talk about having a huge
> amount of money, to anyone?
Bill Cosby had a routine about doing just that after learning karate.
Unfortunately, the guy who attacked him was a midget and threatened to blow
Bill's kneecap off if he didn't hand over the dough.
> The point is, I would feel MUCH safer caryying a couple $1,000 bills,
> than a bunch of $100 bills bulging in my pocket. Thieves will see that
> bulge, and think or know that you are carrying a wad of cash. I would
> like to put a couple $1,000s in my wallet, and call it a day. No need
> to let anyone now I'm carry it. The only real time I could see a
> mugger get you, is if they see you pay for a $500 or less purchase,
> and you pay with a $1,000 bill, and the mugger sees the cashier hand
> you a $500 bill or a $100 and a couple $200s and some other odd change
> back, then waits to steal that remaining $500 and some dollars from
> you.
There are times when only cash will do the job. Go to a coin show where
nobody knows you, and it's the universal solvent. In certain states the
dealer will sell to you for a lower price if he's inclined to ignore sales
tax requirements.
James
'ducking for cover as the usenet morality police muster'
Bruce Remick
"Mr. Jaggers" <lugburzman[at]yahoo[dot]com> wrote in message
news:h4g1o...@enews2.newsguy.com...
I seldom get to shows but I would think that any dealer who offers high
priced merchandise would be equipped to accommodate credit cards and perhaps
personal checks, rather than have his first customer saddle him with a
(theoretical) $500 or $1,000 bill or risk getting a bogus one. If I were to
attend a show with a budget of $1,000, I sure wouldn't carry that much cash
with me, regardless of the denominations. If a dealer wouldn't take my
plastic or my check and ID for a $500+ purchase, that would be his loss.
Thomas A.
Certainly cash has its place. Whenever I go out and buy bags of crystal
meth, hollow point bullets or Russian cigarettes, it's a cash-only business.
So, let's just ignore those corner cases where cash is really king.
You're walking down the street and get mugged. Would you rather have on you
a) $23.14 and a plastic comb
b) A wallet with a plastic credit card that you can neuter with your cell
phone as soon as the robbery is over.
c) a $1000, two $500 and one $200 bills.
Bruce Remick
"Thomas A." <sp...@nospam.org> wrote in message
news:Sf-dnX_CVMF3AvbX...@earthlink.com...
What color is the comb?
PC
"Jerry Dennis" <JDen...@aol.com> wrote in message
news:dabaca58-92df-478d...@k1g2000yqf.googlegroups.com...
Hey. Here's a thought. Let's encourage large bills in order to use
the paper we'll save by NOT printing $1 bills. That'll encourage
using $1 coins and save money... Wait, never mind, that wouldn't
contribute to the Obama "drive America into bankruptcy" plan.
<<<
I think our last POTUS had a better plan for doing that - clearly he was
much more effective.
PC
>
> Would you actually walk down the street with a $1000 or $500 bill in your
> pocket? And feel safe about it?
>
Considering I have never been mugged even though it has been attempted
twice - yeah.
PC
> a) $23.14 and a plastic comb
> b) A wallet with a plastic credit card that you can neuter with your cell
> phone as soon as the robbery is over.
> c) a $1000, two $500 and one $200 bills.
>
Doesn't matter when the idiot is crawling away with a knife in the side of
his head.
Jon Purkey
wrote:
>You're walking down the street and get mugged. Would you rather have on you
>
>a) $23.14 and a plastic comb
>b) A wallet with a plastic credit card that you can neuter with your cell
>phone as soon as the robbery is over.
>c) a $1000, two $500 and one $200 bills.
Not to mention having to explain to the cops why you had that much
cash on you. They would probably become more interested in why you had
that much cash rather than the fact you were just robbed.
note.boy
In Scotland we have had �50 and �100 notes for many years but they are
seldom seen in circulation as many shops will not accept them for fear of
forged notes which is odd as the �20 note is by far the most commonly
forged. Billy
Slime Lowlife
<note...@naespamntlworld.com> wrote:
Well, Tom, nice of you to have written your elected officials, but I
doubt much will come out of that. As was mentioned in other threads,
the Treasury & the Fed are too antsy about money laundering to take
kindly to having a nice convenient way to move large amounts of
untraceable cash around. That's why they got rid of the $500 & higher
denominations back in 1946.
On the other hand, the notion of using higher denominations to make up
for the cessation of $1s has an appeal that will likely capture the
heart of a bureaucrat wanting to appear important & innovative. If you
add in the bonus inspiration of bringing back the old large-size
"horseblanket" notes for these new denominations (so that the visually
impaired can more easily distinguish them), that pulls in Political
Correctness for even more bonus brownie points.
But, the only realistic scenario for higher denomination notes would be
a cash-based economy, which we haven't really had for a
while--particularly in the past 10-15 years, when all sorts of
electronic payment schemes took off (PayPal, card swipers at McDonalds,
etc.) Even if we get ourselves a good dose of Weimar-style inflation,
all that is likely to happen is that we stop using cash entirely &
switch over to putting our billion-dollar grocery purchases on plastic.
Those sorts of transactions that we used to handle with wads of C-notes
will probably end up being conducted with rolls of American Eagles of
some size or another.
I'm coming round to the conclusion that it is not inflation or high
commodity prices that will do in coins (& notes) as meaningful
currency; it's going to be credit- & debit cards.
rwalker
<malanu...@aol.com> wrote:
>Here we go again. How I love annoying some of you guys with this
>issue, however, those who are serious with me, I'd like to talk $200
>and $500 bills with you.
snip
Well, as I said on rec.collecting.paper-money when you asked this over
there:
snip
from my perspective, it seems that for transactions over $100,
most people these days use debit cards or electronic transfers, so I'm
not sure the demand is really there for 200 and 500 dollar bills.
Personally I can't even remember the last time I used a hundred or a
fifty. I know it's been years though.
Mike Marotta
> I seldom get to shows but I would think that any dealer who offers high
> priced merchandise would be equipped to accommodate credit cards and perhaps
> If a dealer wouldn't take my
> plastic or my check and ID for a $500+ purchase, that would be his loss.
Bruce, you surprise me. I would have thought that an old guy like you
would be a regular at shows.
To take the last point first, "his loss" is what the dealer hopes to
avoid. Personal recommendations count. If you know someone --
another dealer; a club officer -- known to the dealer, who can vouch
for you, that will make your check (draft) good with the dealer. If
you are a regular at shows, you get known. As a local club officer,
etc., you get known, also. Capitalism depends on trust and
commercial discourse. The dealer does not need to sell to you and he
certainly does not need to take a loss.
As for credit cards, they are rare. We do have wireless machines now
and other machines will store the transactions for download later.
But can you imagine wiring a hall for 300 phone lines for three
days?
Plus, credit cards come with fees for the merchant, typically 3%,
sometimes more. Plus, credit card fraud is rampant and has been for
ages.
About 10 years ago, I worked a couple of space shuttle launches for
NASA Exchange, the retail arm of the space agency. We took vans of
collectibles and memorabilia out to launch viewing sites. Away from
the base, credit cards were not an option: cash and checks only.
That said, I have worked security for smaller conventions, not
numismatic, held in a newly-built suburban convention mall. For
motorcycles shows, pet shows, home and garden, it was not a problem
for their contractors to run a dozen phone lines as the place was
wired when it was built about five years ago.
Mike M.
Michael E. Marotta
"Creditworthy and credible"
Bruce Remick
"Mike Marotta" <mer...@torchlake.com> wrote in message
news:fea6044a-e869-4581...@u16g2000yqe.googlegroups.com...
On Jul 25, 7:33 pm, "Bruce Remick" <rem...@cox.net> wrote:
> I seldom get to shows but I would think that any dealer who offers high
> priced merchandise would be equipped to accommodate credit cards and
> perhaps
> personal checks ...
> If a dealer wouldn't take my
> plastic or my check and ID for a $500+ purchase, that would be his loss.
> Bruce, you surprise me. I would have thought that an old guy like you
> would be a regular at shows.
You must not be "old" yet. I have grown to dislike crowds and the last coin
shows I attended were occasional events in Vienna, VA. These were and still
are quite popular and as such they had several rows deep in the narrow
aisles at most of the tables. It became a challenge just to get close
enough to scan the wares from five feet away, let alone expect any personal
attention from the dealer behind the table. Good for the dealers, but a
hassle for guys like me. I look back fondly on the days when I sat at a
cracked glass counter in a dusty old coin shop looking through binders for
old coppers or interesting foreign coins.
> To take the last point first, "his loss" is what the dealer hopes to
avoid. Personal recommendations count. If you know someone --
another dealer; a club officer -- known to the dealer, who can vouch
for you, that will make your check (draft) good with the dealer. If
you are a regular at shows, you get known. As a local club officer,
etc., you get known, also. Capitalism depends on trust and
commercial discourse. The dealer does not need to sell to you and he
> certainly does not need to take a loss.
As an infrequent customer, I guess my check wouldn't have been welcome,
unless my local residence made a difference. I presumed that the dealer
WOULD be encouraged to sell to strangers like me in order to feed his
family. By not accepting my check, he might feel secure but still would be
out a potential $500 in sales. Neither party loses, but both missed
opportunities.
> As for credit cards, they are rare. We do have wireless machines now
and other machines will store the transactions for download later.
But can you imagine wiring a hall for 300 phone lines for three
> days?
> Plus, credit cards come with fees for the merchant, typically 3%,
sometimes more. Plus, credit card fraud is rampant and has been for
> ages.
Credit card companies have charged these fees for decades. Merchants must
find that accepting cards increases business, or else the credit companies
would have fizzled years ago. One question might be, would the dealer feel
more comfortable accepting a stranger's $500 bill (proposed by the OP) or
his credit card?
Mike Marotta
> Here we go again. How I love annoying some of you guys with this
> issue, however, those who are serious with me, I'd like to talk $200
> and $500 bills with you.
I read this over the past week and I considered it and I have to
conclude that this is not going to happen, even if it were a good
idea, which it is not.
First, only about 8% of the economy is in cash.
The government disfavors large denomination bills to discourage so-
called "money laundering."
$100 bills are convenient enough as it is. Yesterday, after breakfast
at a restaurant, my wife paid with her credit card -- point noted --
and I tipped the waitress with five $1 bills. That indicates that
five $100s would have been just as convenient. The monetary base is
not (yet) so inflated as to make that a daily necessity.
4) It may happen that we will see $100 coins and $500 coins... in
about a generation, perhaps, within a century, perhaps ... unless
something totally different and unexpected happens ...
Your complaint against credit card fraud is certainly valid. Not
having the cards at all would make that impossible, of course, just as
mail fraud depends on mails and auto theft on automobiles. I imagined
Androcles the Archaic Achaean complaining about a gold-plated lead
slug, saying that in his father's time, you could not be cheated with
a fake cow and that only cows should be money, as in the olden times.
My wife suffered the same problem as your parents a few years back,
when, after renting a car, someone took her receipt off the counter
and spent her money in Canada. So, I understand and appreciate your
parents' misfortune, but you will not make plastic money go away. If
anything, we are going to continue to see more and different kinds of
virtual moneys.
Mike M.
Michael E. Marotta
"Two tuna fish for a wagon of grapes."