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Old 07-03-2016, 09:16 AM
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The BLS calculates that $20 in 1982 has the same purchasing power as $50 today, but the twenty remains the choice of ATMs around the country. Australia and Euro zone pretty much use the fifty. United Kingdom is forever attached to the twenty pound notes which post BREXIT vote is worth about $26.45 instead of ~$30.

I seem to remember the $10 was more common about forty years ago. Now the BEP is faced with the task of replacing some 8 billion Jacksons with Tubmans. The fifty is the least circulated banknote behind only the two dollar bill.

From 2009 to 2012 the average withdrawal value increased from $108 to $118. Presumably it is somewhat higher today.

In 2012 the number of ATM withdrawals (5.8 billion) far exceeded the number of over-the-counter withdrawals (2.1 billion), the average value of over-the-counter withdrawals was $715, no surprise.

Is it time to switch to the $50? Sometimes frugal people feel that smaller denominations help them to remain frugal. While the fifty is accepted in many places that refuse to take hundreds, there are many places that will not accept either.
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Old 07-03-2016, 10:17 AM
Location: North Idaho
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Until gasoline goes back up, the biggest cash purchase I make is gasoline. I don't need a $50 for that (yet).

I think that most people use cash for smaller purchases and pay for large purchases with a different method. Smaller purchases tend to be under $50 and much closer to $20.
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Old 07-04-2016, 02:14 PM
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Why would I want a $50 bill from the ATM? If I'm getting cash out of an ATM, chances are it's for something like a food cart that hasn't bothered to get a card reader yet, or maybe a park entry fee (usually around $5).
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Old 07-04-2016, 02:24 PM
Location: Sugarmill Woods , FL
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Smaller denomination bills are counterfeited by foreign governments less!
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Old 07-04-2016, 02:28 PM
Location: North Beach, MD on the Chesapeake
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Many stores, at least around here, rarely carry enough change to break many $50s, especially early in the day. There are even a few which refuse them entirely.
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Old 07-04-2016, 03:00 PM
Location: Caverns measureless to man...
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I won't use 50s. I hate 'em. Too hard to do the mental math when you have a bundle of bills in your wallet and you're trying to keep track of the total in your head, and the "50" looks too much like a "20" when you're counting out cash in the store. When I get stuck with one, I get rid of it as fast as I can.
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Old 07-04-2016, 03:06 PM
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I get $50's all the time out of Wells Fargo ATM's
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Old 07-04-2016, 03:38 PM
Location: Central IL
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I always wondered why 50's are rarer than Benjamins.

But inflation aside, I rarely use cash - only if the place ONLY takes cash. So maybe a small home business, roadside produce stand - and even those often use "Square" or something for credit card transactions. I usually just get a $20 or two at the checkout when I buy groceries - rarely even use an ATM any more.
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Old 07-05-2016, 05:01 AM
Location: Georgia
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I think that's the key. We started out with ATMs filled with $10s and $20s. The need for the $10s has declined. As we got closer to the point where $20s became like $10s became years ago, the pressures to supplement $20s with higher denomination bills were diffused by two factors: First: There's no $40 bill. Second: Those who originally would rely on the $20s, even when ATMs offered $10s, (and therefore those who are likely to elect to receive $50s today) are far less likely to be using cash these days, at all.
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Old 07-05-2016, 06:40 AM
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In my personal finances, I'm largely cashless. Why would I pay cash for something if I can get 2% cash back on my Cit Double Cash credit card and get an average of 45 days of interest-free float on the money? There's one holdout pizza/Greek/fried seafood place in town I use occasionally that requires cash. My food/bar tab occasionally lands on somebody else's check where it's easier to settle up with cash. The weekly farmer's market in the summer requires cash. The $120 I pull out of the ATM usually lasts me a month. I'm fine with $20 bills since the ATM is "pocket money" for me.
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