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I don't think the paper currency in higher denomination is worth it for most common usage. Most have been weaned unto electronic payment and credit which for the most part is fine. I'm the type that always like to have little cash just because you never know when you may be limited on options and some places I regularly shop for groceries only take debit cards which I refuse to use (I do use credit cards for most other retail transactions).
Problem is, as much as our currency is being devalued - even though it's still the 'cleanest dirty shirt' - that $500 bill would be worth about as much as the 1960 Game of Life (Milton Bradley board game) $500 bill with Ransom A Treasure on it!
I don't think I've ever run into a store that would refuse a $100 bill for a purchase in that ballpark. The corner gas station isn't going to break a hundred for a 50¢ stick of gum, but they'd be silly to refuse it in the case of, say, a trucker filling up with diesel fuel.
I have. I stopped to fill up the tank in my pick-up. It came to $70. I had a single $20 and some hundreds. I went in to pay and the clerk said "I can't take a $100 bill." I told him and showed him that I had only one $20 and the hundreds. I said "You have two choices- take the twenty, or take the hundred, because that's what I have."
He argued with me for about 10 minutes, until I finally told him to make up his mind and take one or the other or I was going to leave and not pay him at all. He tried to tell me that he'd get me arrested if I left without paying, but I explained that if *he* *refused* payment, then there wasn't a darn thing he could do about it. He finally took the hundred.
We used to have high denominations, we still should. Some say the reason that they were eliminated was to make it more difficult for drug dealers and others to use cash. I don't know if I believe that or not. But I do know that there are times when I carry a significant amount of cash, and bigger bills would certainly make that easier.
I carry fifties regularly, because that's what my ATM dispenses for anything above a one hundred dollar withdrawal. I find them convenient, and most shops have enough small bills to break them. I think a one hundred dollar bill would be overkill, at least for me.
As for the idea that people who carry cash are not credit worthy, yeah, right.
I wish the Chase ATM's would dispense $50's. Nothing like paying someone $4-500 for stuff on Craig's List with 25-30 bills.
I thought they got rid of the big bills to discourage counterfeiting and drug money laundering?
It's not so much about laundering as it is about smuggling money out of the country.
Smuggling $1 million in $100 bills requires the person to hide 10,000 bills. Smuggling $1 million in $1,000 bills requires the person to hide only 1,000 bills.
Most of the Professional drivers that I know have fuel cards. Why would they need cash? Many can also sign for fuel depending where they are at. No cash needed.
I have a CDL (Amongst my many certifications) but I was towing my Airstream on the NY turnpike, when.... all the card machines went down.
I was going east to west, and ended up spending over $500/cash to get out of the state. (Traveling slow, took me all night.)
Saw many people stuck, out of gas, unable to even buy a sandwich.
Most of the Professional drivers that I know have fuel cards. Why would they need cash? Many can also sign for fuel depending where they are at. No cash needed.
I have a CDL (Amongst my many certifications) but I was towing my Airstream on the NY turnpike, when.... all the card machines went down.
I was going east to west, and ended up spending over $500/cash to get out of the state. (Traveling slow, took me all night.)
Saw many people stuck, out of gas, unable to even buy a sandwich.
Cash is indeed king.
Absolutely, cash is king. I can't even imagine traveling any great length of distance without carrying cash. If I can't get to the destination and back home without refueling the car, I want to have at least $100 or so in cash on me, and even more on longer trips.
There are some great restaurants out there that don't take cards, as well. I can't imagine missing out on some of those places just because of being too lazy to get some money out of the bank.
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