The fate of the $100 bill

17 December 2019, 19:15

Jason P

Kensco's "Check" thread was a bit inspiring!

Here is another question: Are you finding it a hassle to to use cash? It seems like ever time I pay cash with $100 or $50 bills, they either do not have change or spend time analyzing it to see if it is counterfeit!

We went to a drive up McDonald's a month or so back and unfortunately made the dumb decision to buy food there. I gave the girl working there a $100 bill and after she examined it, and after she took it to her supervisor to inspect, they made the difficult decision and agreed that it was not counterfeit

I guess cash purchases are becoming extinct!

17 December 2019, 19:37

roo_ster

US Gov't has steadily eliminated large-denomination (> $100) currency from circulation, as it wants to be able to track transactions. It is also trying to eliminate the $100 bill.

For my own part, I would have US Gov't issue $500, $1000, and $10000 currency for common use. US Gov't and its underlings are supposed to exist for the benefit of the citizenry.

17 December 2019, 20:27

TomP

The Hundred has been a store of value worldwide for decades, if it were killed off there would be problems.
Having said that, one of our local hangouts doesn't take fifties or hundreds any more, having been burned once.

17 December 2019, 21:40

bwana cecil

As a retailer we certainly try to verify that we're not taking counterfeit bills, but we defiantly still take $50 & $100 bills.
Don't see 50"s very often anymore.

17 December 2019, 23:21

DCS Member

Whenever I buy stuff, it’s normally in cash and most cashiers have already assumed I’m paying with a card.

We did have a counterfeit rash not long ago.

I believe a lot of the larger denominations were also eliminated to make it more difficult for large drug deals, but basically to track as said above.

18 December 2019, 04:27

Grizzly Adams1

We went the other way, turned the 1 and 2 dollar bills into a coin, then eliminated the penny. People look at you suspiciously if you flash a large bill, messes up the system.

Grizz

18 December 2019, 08:40

NormanConquest

Several years ago I went o pay my sons insurance payment at his agents with cash he had given me. They refused to take it. That's when the fight started. This is the coin of the realm + as it says on there, for all debts public + private. That went on longer than it really should because I was pissed. I finally gave them my check but trold the girls that it must really suck to work in a place that does'nt trust you with cash.

18 December 2019, 14:30

300 win

The only reason cashiers don't like 50 and 100 dollar bills, the cashiers cannot make change.thats our school system fault,if they don't have a machine to figure it out the change cashiers are lost. They do have marking pens for the american dollars,just swipe the pen on the bill if the color dosen't turn brown then the bill is no good

18 December 2019, 16:20

p dog shooter

I to wish they would make at least 500.00 bills available.

100s spend like 20s did in the 70s.

Went to the bank to with draw 10 thousand in cash the other day.

They didn't have it.

18 December 2019, 18:44

Kensco

I want to eliminate the penny, and the $50 bill. The penny is worthless, and I don't even carry them anymore.

The $50 bill gets mistaken in my wallet for a 20. I believe in the last few months I gave away a $50 bill instead of paying with a $20. At Hard Eight BBQ the cashier corrected my error and returned a $50 bill that I thought was a $20 bill.

Many other countries won't take a US bill bigger than a 20, and it must be a new-looking twenty.

18 December 2019, 21:43

Jason P

quote:
Originally posted by p dog shooter:
I to wish they would make at least 500.00 bills available.

100s spend like 20s did in the 70s.

Went to the bank to with draw 10 thousand in cash the other day.

They didn't have it.

I agree!

It is comical to see some of these young Cashiers try to make change.

19 December 2019, 08:22

NormanConquest

I remember when they did away with the $500.00 bill many years ago. I have often thought if I ever ran into one (unlikely as the banks destroy them when they are encountered) that much as I'd like it for a collector I most likely would need the money at the time. Along with that, now there is a great sounding of hope by raising the minimum wage to $12.00 per hr. Pablum to the masses. Everything else goes up accordingly. Jason, I agree, these kids today don't know how to make change. Whenever I find one that does I compliment her.

19 December 2019, 09:09

NormanConquest

p dog I remember that from the 70s as well. Go into any 7-11 + the sign said 'clerk can not make change for a $20.00'

01 January 2020, 06:43

Pa.Frank

I hate using 100's... same reasons as stated by everyone else..

One interesting thing about U.S. money... It has changed many times in the last 230 years but it has NEVER been devalued. All U.S. money is as good as the day it was printed or minted. (numismatic value not withstanding)

01 January 2020, 09:06

NormanConquest

True that + until our nation is defeated in war the situation will remain the same. I have a safe full of Reichsmarks that have no value at monetary value, but a nominal interest in numismatic circles. Have some B.C. Romans too but same story.

01 January 2020, 20:11

boom stick

This is why Bitcoin is a thing.

02 January 2020, 08:18

NormanConquest

I'm aware of the existence of bitcoin but really know nothing about it. I do recall that Charlie (Gato) was into them + he was a good investor.

10 January 2020, 19:08

Pa.Frank

The big attraction with bitcoin and other electronic currencies is that they are not traceable (yet) and are a magnet for money launderers, but the Gub'ment will eventually get around to controlling this too... just give the cyber currency phenomenon time to mature.

and to change topics again, speaking of the $100 bill... If you really want to have some fun, next time you go the the bank, get yourself some $2 Bills..
You will get one of 3 reactions: get these dumb looks from people that have no idea what they are, change for a 20, or people that refuse to take it because they think its fake..

11 January 2020, 08:45

NormanConquest

I've had all those reactions from folks (usually young) when paying with $2.00 bills.

11 January 2020, 20:54

TomP

quote:
Originally posted by Pa.Frank:
The big attraction with bitcoin and other electronic currencies is that they are not traceable (yet) and are a magnet for money launderers, but the Gub'ment will eventually get around to controlling this too... just give the cyber currency phenomenon time to mature.

and to change topics again, speaking of the $100 bill... If you really want to have some fun, next time you go the the bank, get yourself some $2 Bills..
You will get one of 3 reactions: get these dumb looks from people that have no idea what they are, change for a 20, or people that refuse to take it because they think its fake..

Lessee, each bitcoin transaction is stored on multiple computers worldwide. Who all are privileged to examine these records? Kind of like TOR, the onion router.
Could it be that the government would sponsor a browser for its agents to use with no way to trace location of someone in trouble?
Hmmm...

Yes, the $2 bill has always been entertaining.

12 January 2020, 09:30

NormanConquest

Tom, I don't know if entertaining is the right word for stupidity but yes I suppose you're right, it is sadly humorous, along with these kids trying to make change. Without a computer to tell them the amount they would be lost. Whenever I get someone to give me back my change properly I thank them for doing a job right.

12 January 2020, 20:43

quote:
Originally posted by Kensco:
The $50 bill gets mistaken in my wallet for a 20. I believe in the last few months I gave away a $50 bill instead of paying with a $20. At Hard Eight BBQ the cashier corrected my error and returned a $50 bill that I thought was a $20.

Amazing anyone would print bills of different denominations with the same size paper and with similar color schemes. No surprise you would eventually mix them up at some point.

Most other countries use different sizes and very different colors for different denominations. You wouldn’t easily mix up a 20€ and a 50€ bill...

13 January 2020, 00:27

DCS Member

Wait until they take President Jackson off the $20 because he was politically incorrect...

19 January 2020, 08:18

NormanConquest

Yeah, I can hardly wait.

20 January 2020, 21:14

Jason P

quote:
Originally posted by DCS Member:
Wait until they take President Jackson off the $20 because he was politically incorrect...

Good point and there is little doubt that they will

20 January 2020, 21:32

zrp

quote:
Originally posted by Jason P:
quote:
Originally posted by DCS Member:
Wait until they take President Jackson off the $20 because he was politically incorrect...

Good point and there is little doubt that they will

If they are looking for a replacement, just use D Trump wearing a MAGA hat. Should melt a few snow flakes.