Poll. Largest denomination bill on you now.

[David1961]

Mods/admins can do that, though, so I added it for you since you expressed a desire for it to be done.

Thanks.

 

[calmloki]

I recently read a proposal to eliminate the $100 note to make it more difficult for criminals to hide $. Would it be feasible for Congress to recall all $100 notes by giving people a few years to exchange them for smaller denominations after which they would no longer be valid? That could wipe out some vast piles of dirty money.

Many years ago I was playing savings mind games with myself: $100 bills couldn't be used - made for some very extreme LBYM. In time, the hidden stashes in books and other hidey-holes reached $5000+. We found a multi-unit to buy and started going through the motions to do so. At the time, banks were collapsing and being absorbed and I think the bank carrying the seller's note changed names several times while the deal was being done. The bank was very insistent that we couldn't just say we had $5000 in cash to go to closing with, which caused me to dig in my hooves. I faxed them a copy of the $5000 from the local hardware store fax machine, being careful to not show any complete bills.

Bank still didn't like it, and at a sit-down with various of their ilk one little junior banker didn't get that if we went to closing and didn't have the $5000 the deal wouldn't happen and we would be the losers. Without the $5000 being in a bank how did they know we had it? My gal said "we say we have it". Junior banker Jeffrey made the mistake of laughing and my gal about went over the round table at his throat.

We did buy the place. We still have a fondness for Ben Franklin. 50 Franklins are more meaningful than some digital numbers that get shunted around - they feel like REAL MONEY!

 

[NW-Bound]

...We still have a fondness for Ben Franklin. 50 Franklins are more meaningful than some digital numbers that get shunted around - they feel like REAL MONEY!

That's why Scrooge McDuck keeps real money to swim in. Can't do that with just a number on a PC screen or a bank statement.

In the DuckTales episode "Liquid Assets", Fenton Crackshell (Scrooge's accountant) notes that McDuck's money bin contains "607 tillion 386 zillion 947 trillion 522 billion dollars and 36 cents"

 

[Texas Proud]

Usually have a couple of $100's. Never know when a good cash deal will come up. Why do many people not like the $50 bill?

That is easy to answer....

ATM machines distribute out $20s.... and a few new ones will also do smaller denominations if you ask...

So, the only way you are going to get $50s is to go to a teller (real one, not the ATM teller with the smaller bills).... and why go there unless you need a lot of cash... and if you need a lot of cash then $100s are more convenient....

Kinda like why do people not like the $2 bill... just not easy to get and it is in space where other bills are not a problem...

 

[T-Minus]

Gave my wife my last two twenties yesterday, leaving me with a measly $1 (as of 8:45 AM, the sole vote).

 

[scrabbler1]

I very rarely have anything bigger than a $20. Over the years when friends have repaid loans to me they sometimes paid me in $50s or $100s and I didn't usually like that because many stores I shop at don't take anything bigger than $20s. I'd have to break (or deposit) the bigger bills at my local bank first which was a minor nuisance.


Many years ago, an ATM gave me 2 $50s and 3 $20s for a $160 cash withdrawal. It was a PITA and I had to remember never to use that bank's ATM again or else I'd walk into the bank and ask a teller to break the $50s.

 

[W2R]

That is easy to answer....

ATM machines distribute out $20s.... and a few new ones will also do smaller denominations if you ask...

So, the only way you are going to get $50s is to go to a teller (real one, not the ATM teller with the smaller bills).... and why go there unless you need a lot of cash... and if you need a lot of cash then $100s are more convenient....

+1

I almost never go inside a bank any more. If I want cash, there are plenty of drive through ATMs around. I believe that here they only distribute 20 dollar bills. I just pick one from my bank, that I can use with no fees whatsoever.

Also, I have noticed in the past that some (not all) business establishments are reluctant to take a bill higher than a $20. Everybody will take a $20 AFAIK.

 

[pb4uski]

I usually have $40 to $180 in my wallet at any given point in time, mostly $20s but I sometimes carry a $50 or $100 in front of the $20s and when I get to that bill it is a signal for me to go to the ATM to replenish. $10s, $5s and $1s are just what I have received as change and are folded and in my right front pants pocket, along with change.

 

[DrRoy]

Usually 20's. Have sometimes taken 50's and 100's as vacation cash.

 

[audreyh1]

Our local ATMs spit out $50s. I think last time I used one I got mostly $50s!

People around here pay for a lot of stuff in cash.

 

[braumeister]

I usually have one or two 50s in my wallet. When I travel I take as many as ten.

My reason is simply that I refuse to let a credit card out of my sight, so going to a good restaurant requires the cash.

In years past, I noticed that nearly every time a card got compromised it was within a day or two of using it at an unfamiliar restaurant. So I ditched that practice completely.

 

[Fermion]

I usually have one or two 50s in my wallet. When I travel I take as many as ten.

My reason is simply that I refuse to let a credit card out of my sight, so going to a good restaurant requires the cash.

In years past, I noticed that nearly every time a card got compromised it was within a day or two of using it at an unfamiliar restaurant. So I ditched that practice completely.

This is so true and a practice I should get into. I am convinced our CC info was stolen by restaurants at least twice. I have a card I only use for paying insurance, cable, and electric bills, but used it at a local restaurant and two weeks later I was a victim of CC fraud charges.

 

[WhoDaresWins]

I always carry cash on me. At least a couple of hundred bucks. Have several $50's in my wallet right now. And if I leave the state for even a couple of days I might carry $500-$1000 dollars in cash. Don't forget to call your credit card company and inform them if you are going even one state away from home base. They will deny a charge until you call them with phone password and PIN (if you can remember it). I had this happen to me in NoVA which is only about 4 hours by car from me

 

[Ronstar]

None of the atm's I go to have bills greater than $20. So the largest denomination I have is a $20.


Sent from my iPad using Early Retirement Forum

 

[LOL!]

I have two $1 bills in my wallet and no other cash. I don't remember how they got there as I don't carry my wallet around anymore. Instead, since I retired, I only carry my driver license, a single credit card, and my health insurance card all loose in my pocket.

 

[Sunset]

.....I never get anything larger than a $20 from my bank ATM, even in the rare cases where I needed to draw up to my bank limit of $600.

I recently withdrew $4,000 from the bank, and they nearly died when I said all 20's please.

 

[VaCollector]

well only $100s in my pocket but I sure wish they still made these:

 

[NYEXPAT]

I will always be fond of the "Benjamin's"!

 

[Meadbh]

This thread made me wonder how frequently I use cash. So I checked my bank account. The last time I withdrew cash was September 25, 2015 (over 5 months ago), when I took out $200, as ten crisp new $20 notes. I still have two of them in my purse. So I probably spend less than $400 in cash per year.

 

[NW-Bound]

I want to carry one of these in my wallet.

On eBay, people are paying as much as $15 for one as a collector's item. The smaller 10 Trillion bills are more common, and can be bought for a couple of bucks. Some other denominations seem rarer and command a higher price, such as the 50 Trillion bill, or the 20 Trillion, or the 500 Million. Ah, would be fun to have the whole series.

 

[NW-Bound]

In the course of less than 3 years, Zimbabwe had to exchange its currency 3 times to keep the number manageable. First, in 2006, it dropped 3 zeros. Then, in 2008, it dropped 10 zeros. Finally, it dropped 12 zeros in 2009.

That's 25 zeros in 3 years. It takes 10 trillion trillion old dollars to get a new one.

 

[rodi]

I use CC or ATM 99% of the time so I can download and track it in quicken.

But I carry a bit of cash just in case I'm out for a meal with my sister or friend and need to split the bill or some such... I think I have $28 in my wallet right now.. and that's probably unchanged so far this year. I never carry larger than $20 bills.

 

[BTravlin]

No USD but do have a $500 peso note which is worth a little over $27 USD at present so I ticked $20 in the poll.

 

[gauss]

50s..

I like to go into the "bank" to make my withdrawals now that I am ER. Can get things like free coffee cookies etc. Can also get Over the Counter advances from debit cards issued by other financial institutions with no fees (ie out of town , Online ones).

I just need to make sure that I do this during off-peak hours.

I also like to keep a stack of 1s and 5s in my house. I use these to break a 50 before I go out with my (still working) friends so that I can make change for everyone when needed.

-gauss

 

[kcowan]

500 MXN or about 25-30 USD. Usually withdraw 15,000 at the bank. Cash society.