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You can still buy candy, chips, and juice with dollar bills.
Just cus' you're rich and have no use for 1 dollars doesn't mean the rest of us do.
Wait, we can still buy candy, chips, and juice for a dollar? Where? Where?
Quote:
Originally Posted by Venom
Just more to lose.
I also agree with Venom. A $500 bill is not just more to lose, it's significantly more to lose. Plus, just think about the nightmare it would cause for cashiers.
Wait, we can still buy candy, chips, and juice for a dollar? Where? Where?
I also agree with Venom. A $500 bill is not just more to lose, it's significantly more to lose. Plus, just think about the nightmare it would cause for cashiers.
How many $100 bills have you lost? Can I follow you around?
Ordinary people would rarely see a $500. But there are people who make fairly large transactions. Like, if you buy a used car from a private seller, and need to pay $5,000 in cash, it would be nice if it would fit in your pocket or your wallet while you're transporting it.
Cashiers, even now, have signs up that they refuse to accept 100s or even 50s. At gas stations where a couple years ago, it cost $100 to fill up, and they refused to accept $100 bill.. Is that an argument for abolishing the $100?
How many $100 bills have you lost? Can I follow you around?
Ordinary people would rarely see a $500. But there are people who make fairly large transactions. Like, if you buy a used car from a private seller, and need to pay $5,000 in cash, it would be nice if it would fit in your pocket or your wallet while you're transporting it.
Cashiers, even now, have signs up that they refuse to accept 100s or even 50s. At gas stations where a couple years ago, it cost $100 to fill up, and they refused to accept $100 bill.. Is that an argument for abolishing the $100?
I think that $100 bills should be the limit. We have credit cards and debit cards. So, I really do not see the need to carry around $500 bills. Of course there will always be exceptions. In fact, an argument could even be made for why some people would be better served if they could carry around a $1000 bill. Yet, we have to stop at some point. I would contend that the $100 bill is that point.
Personally, I do not feel comfortable carrying around large sums of cash. I do not even carry around $100 bills. If I am going to make large purchases, I feel much more comfortable using my debit card -- or better yet, my credit card.
Since I do not carry around much cash, then if someone robbed me, they would not get much money. They would have my credit cards. However, I can cancel them with a single call.
Its not a good sign when people want larger denomination bills, I was in a third world country not to long ago and they had bills in denominations of 5000.00 and, 250,000.00. Inflation was so great no one even carried money because it would have to be carried in a large bag to get through the day. The day a $500.00 bill is considered walking around money, I know I will be in trouble.
Inflation was so great no one even carried money because it would have to be carried in a large bag to get through the day.
I always tie the word "Inflation" to an image from my history book when I was in grade school.
It showed people in Germany after WWI with wheelbarrows full of money and standing in line to buy a loaf of bread.
A hundred years ago, there were $100,000 bills, which then had the purchasing power of what is now a couple of million. Convenience stores did not accept them. In fact, they were nominally used only for large financial institutions to move cash from one office to another, before they invented the magnesium alloy attache case and handcuffs. There was no risk of accidentally leaving one under the coffee cup as a tip, since in those days a couple of coins was considered a pretty generous tip and paper was rarely used for that purpose.
It's funny that back when a quarter would get you a pack of smokes or a paperback novel, there was a $20 coin and a $100,000 bill.
Yes, if for nothing other than sentimental reasons.
Quote:
Originally Posted by jtur88
A hundred dollars was a lot of money once. But it isn't any more. Is it time for the US government to bring back the $500 bill?
Should there be a single bill large enough to pay for a cart loosely full of groceries, or a SUV tank full of unleaded, or two grandstand tickets to a Red Sox game, or enough stamps to mail 250 Christmas cards??
Yes, I understand why it was abolished. With larger bills, it would have been impossible to achieve our gloriously and spectacularly successful victory in the war on drugs.
I think that $100 bills should be the limit. We have credit cards and debit cards. So, I really do not see the need to carry around $500 bills. Of course there will always be exceptions. In fact, an argument could even be made for why some people would be better served if they could carry around a $1000 bill. Yet, we have to stop at some point. I would contend that the $100 bill is that point.
Personally, I do not feel comfortable carrying around large sums of cash. I do not even carry around $100 bills. If I am going to make large purchases, I feel much more comfortable using my debit card -- or better yet, my credit card.
Since I do not carry around much cash, then if someone robbed me, they would not get much money. They would have my credit cards. However, I can cancel them with a single call.
I agree. w/ any large transaction where it might make since ot use a $500 bill, it would make more sense to just use a card or even a money order. if I was selling something from $5k, I wouldn't want cash. what would I do w/ $5k in cash, no matter how many bills are involved? I'd be too afraid to walk to the ATM to deposit it where I live now! nope, just give me a money order or even a personal check, then when these clear, I'll give you the item. or better yet, send me a paypal email address
I know w/ the recent credit crunch and bank issues, it may feel like it will be a while before cards become the primary method of payment, but it will happen. as a cashier, I'd say about 60-75% of my customers pay w/ a card, not cash (actually, since I work in an airport, I get more people paying w/ travelers checks than w/ cash). it's just more convenient and can offer you more protection than pure cash (cash gets stolen, it's gone for good. CC gets stolen, you at least have a good shot of getting those charges erased and the card canceled). and even w/ all the scams involving money orders, I'd still prefer these over pure cash for large, private transactions like if I had a car to sell. of course you'll still need cash for smaller stuff.
I agree that the $100 bill is far too small for today's economy. I'd like to see the $500 AND $1000 bills put back in circulation. I see no downside to having a $100,000 bill, for that matter.
I was dealing (I lost out, but that isn't important) with a fellow on a $4000 motorcycle roughly 250 miles away. There is no way he's going to take anything except cash if the deal happens; that means I have to pack a wad of 40 $100 bills. If I had 4 $1000 bills, there isn't much chance of losing or miscounting any of them.
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