Pros & cons of a $500 bill, $1000 bill, $5000 bill or even a $10,000 bill?

[QuarterMillionMan]

I get counterfeiting but life would be so much easier with let's say a $1000 and a $5000 bill or $10,000 bill. Want to buy a new car with cash go to your bank and get forty $1000 bills. No need a briefcase full of $100's. Any thoughs?

[disneysteve]

If I want to buy a car with “cash” I write a check. I did just that last year. Why would I need actual cash?

[Drake3287]

I had to Google the question. The $1,000 and $500. bill were discontinued back in the 60's. Wouldn't mind having a $1,000. bill just to have as history though. Apparently there aren't that many left in circulation either, 165,000 or so which apparently is pretty low. Yep, we'll never see a bill larger than $100. anymore. Government wants to keep track of large purchases too closely.

[ua_guy]

Ditto on cheques. I don't like to carry more than a couple hundred bucks on me at the most, just no need for it.

[kork13]

Cons: Production & maintenance costs. Dream come true for counterfeiters, drug dealers, and other illicit activities, because large cash transactions get easier & more profitable.

As stated, if I'm going to be handling a transaction larger than $100-$200, I probably want to be doing it via check or electronic means anyway. Physical cash money has an intrinsic "feels good" aspect, but it really is quite unwieldy.

[bjl584]

Bills larger than $100 were discontinued in 1969 due to "lack of use."

It would be interesting to see if that would still hold true today due to inflation.

[disneysteve]

Bills larger than $100 were discontinued in 1969 due to "lack of use."

It would be interesting to see if that would still hold true today due to inflation.

I think it would be even more true today due to the growth of electronic payment methods. Today we have credit and debit cards, e-checks, physical checks (which many people don’t even have anymore), Zelle, Venmo, Cash App, Apple Pay, etc. Cash isn’t obsolete but it’s used far less than in was in 1969.

[myrdale]

Personally it would be a lot more convenient for my drug operation. There'd be a lot less duffel bags.

[myrdale]

Honestly though you have to look at how convenient the bill is to spend.

If you took it to the store to by $10 worth of groceries, the store would have to have (4) $100 bills to break your $500.

I don't make that many large purchases on a regular basis, and the ones I do make, cutting a check gives me a paper trail that the debt has been paid. Not so much so if you're paying with a stack of $1000 bills.

[Singuy]

Money is going digital for most people. Poor people are still cash heavy. Larger bills just end up with more violent crimes for that demographic. Not able to fit 10k or something in a wallet is a good thing.

[disneysteve]

Money is going digital for most people. Poor people are still cash heavy. Larger bills just end up with more violent crimes for that demographic. Not able to fit 10k or something in a wallet is a good thing.

Who says I can’t fit 10K in my wallet?

[QuarterMillionMan]

A pro would be in the high limit room of a casino (granted not many people are high roller). Take a $100 denomination slot machine. Do you think a high roller likes to keep inserting $100 bill after $100 bill into a machine one at a time. They take $10,000 to the casino cage (cashier) and ask for a voucher to be inserted instead of multiple $100 bills. A $10,000 bill would be much easier. But it just occurred to me that the bill validator can only read $1, $5, $10, $20, $50, and $100. Those bill validators would have to be programmed to read $10,000 bills.

[james.hendrickson]

Who says I can’t fit 10K in my wallet?

LOL - I like your attitude Disneysteve.

[QuarterMillionMan]

Another pro of large bills is when travelling by air with more than $10,000 which must be declared. Just flash the $10,000 bill to the TSA instead of having them count a hundred $100 bills which creates a scene.

[QuarterMillionMan]

LOL - I like your attitude Disneysteve.

James, that would be a good problem to have (lol).