Why do bills run so small? There’s a infinate amount of money out there, and those who are lucky receive large money amounts at one time. Why aren’t there $500 bills or $1000 bills or anything larger?
Because a suitcase full of $100s looks cooler than a handful of $100K bills.
concerns about drug trafficking and money laundering, I assume.
Canada used to have a $1,000 bill, but discontinued it about a decade ago for that reason - that increasingly the only people using large denomination bills were doing so for illegal purposes.
Because there don’t need to be larger denominations available in order for us to get things done that require cash.
Larger bills are gifts to counterfeiters. They aren’t necessary in an electronic economy. The best course would be to eliminate even the $100 and $50 and make counterfeiting that much more difficult.
There have been, in the past:
-$500, William McKinley
-$1,000, Grover Cleveland
-$5,000, James Madison
-$10,000, Salmon P. Chase
-$50,000, Woodrow Wilson
(And even then, they were pretty rare and used mainly be the government)
There used to be denominations from $500-$100,000 (though I think the former was only used in bank transfers).
The reasons are pretty much as listed. Add to that the fact that electronic money makes a lot of those bills moot (banks don’t need to transfer large pallets of money anymore…they can just transfer large amounts electronically), and the fact that the public doesn’t really clamor for large bills (on a smaller scale, electronic money renders it moot as well).
As a person who spent four weeks this past Christmas, in a computer store, checking people out, and having to routinely count thousands of dollars in twenty dollar bills, I long for a five hundred or thousand dollar bill
There is a €500 note worth over $600…
Isn’t it easier to count five twenties, then to go through the rigmarole of verifying a hundred as authentic?
If they could apply this reason to small coins and $1 bills, I’d be happy.
Some of the UK banks issue £100 pound notes (about $150) but they are rare as hen’s teeth. Even the £50 ones are uncommon. The Swiss have a 1000 franc note (around $1000 US) but no idea how common they are.
The Bank of England has/had some very high value notes used internally, including one worth £100 million.
I have to verify $20 bills. :mad:
Wilson was on the $100,000 bill. There was no $50,000 denomination.
Isn’t there an app for that?
How do you do that?
I think the word that you are looking for is “latter.”
foreach (bill currentBill in Till)
To confirm the general rationale given above, BEP on large denominations:
And yes, the $100K Wilson gold certificate wasn’t actually circulated. It’s use was pretty restricted:
Ah, but for how long … you may take your pick as to whether I mean how long it will be worth over $600, or how long it will exist …