# Why no $500 bills? **URL:** \ **Category:** Factual Questions\ **Created:** [June 1, 2009, 6:28pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390 "2009-06-01T18:28:04Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![panaccione](https://avatars.discourse-cdn.com/v4/letter/p/94ad74/32.png) [@panaccione](https://boards.straightdope.com/u/panaccione)\ **Post date:** [June 1, 2009, 6:28pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/1 "2009-06-01T18:28:04Z")
Or even a $1000 bill?.. It seems there are some expenses that could use larger bills like these and it could even help with general conservation and organization. Moreover, who would be on it? My vote would be for Kennedy ---
**Author:** ![Machine\_Elf](https://avatars.discourse-cdn.com/v4/letter/m/82dd89/32.png) [@Machine\_Elf](https://boards.straightdope.com/u/Machine_Elf)\ **Post date:** [June 1, 2009, 6:30pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/2 "2009-06-01T18:30:43Z")
> **[Large denominations of United States currency](https://en.wikipedia.org/wiki/Large_denominations_of_United_States_currency)** > > Large denominations of United States currency greater than $100 were circulated by the United States Treasury until 1969. Since then, U.S. dollar banknotes have been issued in seven denominations: $1, $2, $5, $10, $20, $50, and $100. > Large-denomination currency (i.e., banknotes with a face value of $500 or higher) had been used in the United States since the late 18th century. The first $500 note was issued by North Carolina, authorized by legislation dated May 10, 1780. Virginia quickly follo... ---
**Author:** ![ParentalAdvisory](https://avatars.discourse-cdn.com/v4/letter/p/53a042/32.png) [@ParentalAdvisory](https://boards.straightdope.com/u/ParentalAdvisory)\ **Post date:** [June 1, 2009, 6:31pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/3 "2009-06-01T18:31:57Z")
(on preview) From there: > [@Wiki](#): > > Circulation of high-denomination bills was halted in 1969 by executive order of President Richard Nixon, in an effort to combat organized crime. > > For the most part, these bills were used by banks and the Federal Government for large financial transactions. This was especially true for gold certificates from 1865 to 1934. However, the introduction of the electronic money system has made large-scale cash transactions obsolete; when combined with concerns about counterfeiting and the use of cash in unlawful activities such as the illegal drug trade, it is unlikely that the U.S. government will re-issue large denomination currency in the near future. According to the US Department of Treasury website, “The present denominations of our currency in production are $1, $2, $5, $10, $20, $50 and $100…Neither the Department of the Treasury nor the Federal Reserve System has any plans to change the denominations in use today.” ---
**Author:** ![davekhps](https://avatars.discourse-cdn.com/v4/letter/d/a5b964/32.png) [@davekhps](https://boards.straightdope.com/u/davekhps)\ **Post date:** [June 1, 2009, 6:32pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/4 "2009-06-01T18:32:48Z")
> [@Scotty Mo](#): > > Or even a $1000 bill?.. It seems there are some expenses that could use larger bills like these and it could even help with general conservation and organization. > > Moreover, who would be on it? My vote would be for Kennedy According to [Wikipedia](http://en.wikipedia.org/wiki/Large_denomination_bills_in_U.S._currency): _Circulation of high-denomination bills was halted in 1969 by executive order of President Richard Nixon, in an effort to combat organized crime._ Wiki doesn’t cite the exact E.O. that did this, but I’m sure a Google search will turn one up for you. UPDATE: Awww, crap. Everyone is too fast! BTW, why can’t we just put a header on the SDMB, “Before you ask _anything_, Google and Wikipedia are your friends?” ---
**Author:** ![YamatoTwinkie](https://avatars.discourse-cdn.com/v4/letter/y/cc9497/32.png) [@YamatoTwinkie](https://boards.straightdope.com/u/YamatoTwinkie)\ **Post date:** [June 1, 2009, 6:44pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/5 "2009-06-01T18:44:38Z")
> [@Scotty Mo](#): > > It seems there are some expenses that could use larger bills like these Examples being? In this day and age of credit cards, debit cards, and electronic transfers, the only expenses I could see that could actually utilize larger bills are those that typically require cashiers-checks. But if you’re going to have to go to the bank anyway to get your $10,000 bill (why on earth would you keep it in your wallet?) , why not simply get a cashiers check written? ---
**Author:** ![Giles](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/giles/32/60_2.png) [@Giles](https://boards.straightdope.com/u/Giles)\ **Post date:** [June 1, 2009, 6:52pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/6 "2009-06-01T18:52:54Z")
My guess is that most people in practice rarely use anything larger than a $20 bill, and they use them because that’s what you get out of ATMs. Anything larger is cheque, credit card, electronic transaction or cashier’s cheque. ---
**Author:** ![Elendil\_s\_Heir](https://avatars.discourse-cdn.com/v4/letter/e/7cd45c/32.png) [@Elendil\_s\_Heir](https://boards.straightdope.com/u/Elendil_s_Heir)\ **Post date:** [June 1, 2009, 6:54pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/7 "2009-06-01T18:54:19Z")
The question’s been answered. But I’d like to see both Kennedy and Truman get their mugs on bills or coins. ---
**Author:** ![hajario](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hajario/32/171_2.png) [@hajario](https://boards.straightdope.com/u/hajario)\ **Post date:** [June 1, 2009, 6:56pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/8 "2009-06-01T18:56:15Z")
> [@Elendil\_s\_Heir](#): > > The question’s been answered. But I’d like to see both Kennedy and Truman get their mugs on bills or coins. Kennedy is on a coin. ---
**Author:** ![Dr.Drake](https://avatars.discourse-cdn.com/v4/letter/d/ad7895/32.png) [@Dr.Drake](https://boards.straightdope.com/u/Dr.Drake)\ **Post date:** [June 1, 2009, 7:00pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/9 "2009-06-01T19:00:37Z")
Shouldn’t inflation have an effect on these numbers, though? According to [http://www.measuringworth.com/calculators/uscompare/](http://www.measuringworth.com/calculators/uscompare/), In 2008, $100.00 from 1969 is worth: $587.14 using the Consumer Price Index $468.10 using the GDP deflator using value of consumer bundle $606.31 using the unskilled wage $964.40 using the nominal GDP per capita $1,448.77 using the relative share of GDP In other words, by most measures, we really ought to have a $500 bill to be equivalent to the 1969 $100 bill. I realize that the existence of EFT and credit cards has changed the picture somewhat, but I do think part of the answer is “any change is the current systems of currency denominations, from ditching the penny to issuing a $500 bill, will be perceived as weakness or instability and should be avoided.” ---
**Author:** ![MikeS](https://avatars.discourse-cdn.com/v4/letter/m/919ad9/32.png) [@MikeS](https://boards.straightdope.com/u/MikeS)\ **Post date:** [June 1, 2009, 7:03pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/10 "2009-06-01T19:03:35Z")
Canada also stopped circulating its $1000 banknotes in 2000 for much the same reason. (The $500 bill hadn’t been issued since 1935.) You can still get €500 banknotes, though, if you really want something to light your cigars with. I remember hearing that the €500 note is the highest-valued banknote in circulation today, under current exchange rates, though I’d be interested to hear either confirmation or refutation of this statement. ---
**Author:** ![Giles](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/giles/32/60_2.png) [@Giles](https://boards.straightdope.com/u/Giles)\ **Post date:** [June 1, 2009, 7:12pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/11 "2009-06-01T19:12:51Z")
What do other advanced industrial economies have as their largest bank note? Euro Zone: €500 (though the Wiki article [Euro - Wikipedia](http://en.wikipedia.org/wiki/Euro) says €200, €500 are rarely used). That’s about $700, or $140 for the €100 bill. England (the rest of the United Kingdom is different): £50, which is about $80. Canada: $100, worth about $90 south of the border. Australia: $100, worth about $80 on the other side of the Pacific. Japan: ¥10000, worth about $100 So, apart from the rarely circulating €200 and €500 notes, the US is pretty much in line with comparable countries. ---
**Author:** ![cmkeller](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cmkeller/32/118_2.png) [@cmkeller](https://boards.straightdope.com/u/cmkeller)\ **Post date:** [June 1, 2009, 7:16pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/12 "2009-06-01T19:16:44Z")
Kennedy? I think Teddy Roosevelt is more overdue than anyone for immortalization on currency. The closest he’s ever come is being part of the Mount Rushmore image on the back of the South Dakota quarter. And Truman doesn’t even have that, though he’s worthy as well. (and yes, I know that over the next several years, he as well as all other presidents will be on the dollar coin.) ---
**Author:** ![Qadgop\_the\_Mercotan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/qadgop_the_mercotan/32/83_2.png) [@Qadgop\_the\_Mercotan](https://boards.straightdope.com/u/Qadgop_the_Mercotan)\ **Post date:** [June 1, 2009, 7:25pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/13 "2009-06-01T19:25:03Z")
> [@davekhps](#): > > BTW, why can’t we just put a header on the SDMB, “Before you ask _anything_, Google and Wikipedia are your friends?” Because neither Google nor Wikipedia provide good (and ill) natured banter back and forth, side-discussions, arguments about the finer points elicited by the early posts, bonhomie among like-minded seekers for knowledge, or the chance for posters to show off how bright they are. ---
**Author:** ![yabob](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/yabob/32/2821_2.png) [@yabob](https://boards.straightdope.com/u/yabob)\ **Post date:** [June 1, 2009, 7:36pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/14 "2009-06-01T19:36:25Z")
> [@MikeS](#): > > Canada also stopped circulating its $1000 banknotes in 2000 for much the same reason. (The $500 bill hadn’t been issued since 1935.) You can still get €500 banknotes, though, if you really want something to light your cigars with. I remember hearing that the €500 note is the highest-valued banknote in circulation today, under current exchange rates, though I’d be interested to hear either confirmation or refutation of this statement. Singapore has a 10000 Singapore Dollar banknote: > **[Singapore dollar](https://en.wikipedia.org/wiki/Singapore_dollar)** > > The Singapore dollar (sign: S$; code: SGD) is the official currency of the Republic of Singapore. It is divided into 100 cents (Malay: sen, Chinese: 分; pinyin: fēn, Tamil: காசு, romanized: kācu). It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. The Monetary Authority of Singapore (MAS) issues the banknotes and coins of the Singapore dollar. > As of 2024, the Singapore dollar is the 13th most traded currency in the world. Apart ... That seems to be about $7000 US. ---
**Author:** ![Chronos](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chronos/32/134_2.png) [@Chronos](https://boards.straightdope.com/u/Chronos)\ **Post date:** [June 1, 2009, 8:09pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/15 "2009-06-01T20:09:18Z")
When was the last time anyone here actually had a use for even the $100 or $50? ---
**Author:** ![hajario](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hajario/32/171_2.png) [@hajario](https://boards.straightdope.com/u/hajario)\ **Post date:** [June 1, 2009, 8:19pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/16 "2009-06-01T20:19:46Z")
> [@Chronos](#): > > When was the last time anyone here actually had a use for even the $100 or $50? Most people who could answer that in the affirmative won’t. ---
**Author:** ![Dag\_Otto](https://avatars.discourse-cdn.com/v4/letter/d/439d5e/32.png) [@Dag\_Otto](https://boards.straightdope.com/u/Dag_Otto)\ **Post date:** [June 1, 2009, 8:22pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/17 "2009-06-01T20:22:59Z")
> [@Chronos](#): > > When was the last time anyone here actually had a use for even the $100 or $50? Last year. In Las Vegas, where the $500 would be handy. ---
**Author:** ![The\_Second\_Stone](https://avatars.discourse-cdn.com/v4/letter/t/bbe5ce/32.png) [@The\_Second\_Stone](https://boards.straightdope.com/u/The_Second_Stone)\ **Post date:** [June 1, 2009, 8:44pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/18 "2009-06-01T20:44:47Z")
> [@Chronos](#): > > When was the last time anyone here actually had a use for even the $100 or $50? I use 100s all the time. 50s only when I get them in change. Change is good. And why wouldn’t people admit they use 100s? Back in the 60s my parents used to use 20s all the time. The value of the dollar has eroded at least 5 to 1. ---
**Author:** ![Early\_Out](https://avatars.discourse-cdn.com/v4/letter/e/6f9a4e/32.png) [@Early\_Out](https://boards.straightdope.com/u/Early_Out)\ **Post date:** [June 1, 2009, 8:56pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/19 "2009-06-01T20:56:40Z")
> [@Chronos](#): > > When was the last time anyone here actually had a use for even the $100 or $50? Those are useful when you’re heading overseas, and might not be able to get to an ATM right away, or if you’re not sure you’re going to be able to find an ATM that will take your card at all. I always take a couple of $100s when I travel, and convert them pretty soon after arrival. The U.S. C-note is one of the most recognized and widely-accepted banknotes in the world. ---
**Author:** ![Desert\_Nomad](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/desert_nomad/32/177_2.png) [@Desert\_Nomad](https://boards.straightdope.com/u/Desert_Nomad)\ **Post date:** [June 1, 2009, 8:58pm UTC](https://boards.straightdope.com/t/why-no-500-bills/498390/20 "2009-06-01T20:58:33Z")
> [@MikeS](#): > > Canada also stopped circulating its $1000 banknotes in 2000 for much the same reason. (The $500 bill hadn’t been issued since 1935.) You can still get €500 banknotes, though, if you really want something to light your cigars with. I remember hearing that the €500 note is the highest-valued banknote in circulation today, under current exchange rates, though I’d be interested to hear either confirmation or refutation of this statement. There is a CHF (Swiss Franc) 1000 note in circulation. This is about $940 at today’s rate. [Next page](https://boards.straightdope.com/t/why-no-500-bills/498390.md?page=2)