Same Sex marriage 14th amendment

Quote: odiousgambit

I am quite surprised we are not seeing Tubman as of now.

I'm surprised they gave her the nod, as she is basically unknown to the unwashed general public.

It should have gone to the one black person who did more for blacks than any other black person, i.e. MLK.

Besides, Tubman was hideously ugly.

Total number of banknotes in circulation in billions of notes (end of 2020)
1.4B $2
2.3B $50
2.3B $10
3.2B $5
11.7B $20
13.1B $1
16.4B $100
50.4 B total

The BEP still prints more $1 and $20 than $100 for the year 2020, but more of the worn out bills of the smaller denomination are destroyed
1.57B $1
1.24B $20
1.08B $100

Quote: odiousgambit

I am quite surprised we are not seeing Tubman as of now. That get dropped?

Originally the Tubman bill was going to be a $50, but then Hamilton opened on Broadway on August 6, 2015 and was an instant hit. Then they decided to move Tubman to the $20 bill, but I doubt Trump was too excited about the idea.

Personally, I think they should simply put her on the $500 bill as the Benjamins are getting stretched thin.

Quote: Pacomartin

Personally, I think they should simply put her on the $500 bill as the Benjamins are getting stretched thin.

Do you feel there is a need for a $500 bill? My gut feeling is that 99.9% of all large transactions are done electronically or with credit/debit cards.

Quote: DRich

Do you feel there is a need for a $500 bill? My gut feeling is that 99.9% of all large transactions are done electronically or with credit/debit cards.

Weren't certain coins and bills always troublesome for cashiers. I seem to remember complaints about no slots in cash register. Like for 2s and dollar coins.

Quote: DRich

Do you feel there is a need for a $500 bill? My gut feeling is that 99.9% of all large transactions are done electronically or with credit/debit cards.

Yes. With Trump on it!

Quote: AZDuffman

Yes. With Trump on it!

I would fully support that, but only if they use this picture:



Cautionary tale.

The print orders for the $100 banknote keeps multiplying every year. Compare these two orders only 3 years apart.

The Board of Governors, as the issuing authority for Federal Reserve notes, approved and submitted its fiscal year (FY) 2019 order to the U.S. Treasury Department's Bureau of Engraving and Printing (BEP) on July 31, 2018.
1,548,800,000 $20
1,548,800,000 $100

The Board of Governors, as the issuing authority for Federal Reserve notes, approved and submitted its fiscal year (FY) 2022 print order to the U.S. Treasury Department’s Bureau of Engraving and Printing (BEP) on July 30, 2021.
2,361,600,000 to 2,598,400,000 $20
2,201,600,000 to 2,499,200,000 $100

Quote: DRich

Do you feel there is a need for a $500 bill? My gut feeling is that 99.9% of all large transactions are done electronically or with credit/debit cards.

Certainly that statement is true in the world of legitimate domestic transactions. Many middle-class Americans only touch $100 bill when they are gambling.

But there is a whole world of international transactions (many illegitimate ) being done world-wide involving $100 bills. Many people use the $100 as a store of value since they don't trust their local currency or local banks. The phrase "It's All About the Benjamins" first appeared in 1996 on DJ Clue's Holiday Holdup mixtape.

That's why you see the Fed's print order for $20s and $100s being a similar number of notes. But most new $20s go to replacing worn out older notes . The $100s tend not to wear out in normal transactions, but they are traded in if a new note is issued (especially ones with the big heads or the new color notes).

The European Central Bank did not issue a second generation of the €500 banknote, but they did increase the production order for new €200 banknotes so the amount of cash in circulation wouldn't decrease. The reasoning was they believed the €500 was being used in too many transactions involving drug smuggling or human trafficking or just plain tax avoidance.

In WWII because of the counterfeiting operation in Nazi Germany using captured Jewish calligrphers, Great Britain recalled all banknotes higher than £5. They slowly re-issued the £10, the £20, and the £50. The £50 ceased to be valid on 16 April 1945 and was re-introduced 20 March 1981. The £50 was worth slightly over $100 when it was initially reissued, but today it is worth just over $60. Although you can get a £100 note from the Bank of Scotland they are not widely circulated throughout the country. But the Brits seem perfectly happy with relatively low value banknotes.

The Canadians used to have a CAD$1000 banknote up until slightly more than two decades ago. Because it was pink, the so called "pinkies" were slang for gangster money. Their biggest banknote today is CAD$100 worth ~US$78.

The largest mainstream western banknote still in circulation is the Swiss 1000CHF worth $1050. Although the Swiss have some of the most elaborate anti-counterfeiting devices in the world, it still costs a tiny fraction of the face value of these notes to produce them. So the Swiss government has a sizeable income when people who take their banknotes outside of Switzerland and use them for private transactions or keep them as collectibles.

Quote: DRich

Do you feel there is a need for a $500 bill?

Yes.

With inflation a hundred bucks ain't what it used to be.

Hell, the twenty is the "new" five.

Quote: missedhervee

With inflation a hundred bucks ain't what it used to be.

Well it is a lot more than just inflation. In the year 2000 the future Euro-Area (population 306 million) circulated €380 billion in local currencies (Francs, Marks, Liras, Schillinga, Guilders, etc) or about €1,239 per person. France's largest banknote was worth €76.22, Greece's largest banknote was worth €29.35. Finland was nearly a cashless society. Germany had the equivalent of a €500 banknote, but it circulated in reasonable quantities. The European Central Bank wanted to make the Euro on par with the USD so they circulated huge quantities of banknotes. The €500 banknotes flooded to Spain and Portugal and Greece where the drug trade entry points into Europe and where most of the human trafficking entering Europe was arruving.

The ECB passed €1 trillion Euros in circulation by December 2014 and reached €1.6 trillion in Jun 2022.The US responded by pumping out $100 bills at an unprecedented rate (at an increased rate far in excess of inflation). The US currency surpassed the Euro as the USD passed $1 trillion in 2011 and $2 trillion in 2020 (of which only $400 million is banknotes smaller than $100 bill) and the rate has been accelerating since then.

Printing an updates series of $20 banknotes is difficult since there are so many of them, but people are perfectly happy to circulate old bills and new bills together for many years. $1 banknotes have remained unchanged since the 1960s since no serious counterfeiter works with the $1 bill and the vending machine companies have exerted political influence.

But the $100 bill is different, because once you issue a new series, everyone wants to immediately change their old notes to new ones (especially overseas). We saw this when the big-headed bills were introduced on March 25, 1996 but there were relatively few $100 bills in circulation back then. The color $100 bill introduction was a massive debacle. The next exchange may cause a worldwide panic and possibly drive people to the digital Yuan.

Quote: AZDuffman

Yes. With Trump on it!

He can have currency with a 5 as long as it's a wooden nickel.