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iDM said:
On July 14, 1969, David M. Kennedy, the 60th Secretary of the Treasury, and officials at the Federal Reserve Board announced that they would immediately stop distributing currency in denominations of $500, $1,000, $5,000 and $10,000. Production of these denominations stopped during World War II. Their main purpose was for bank transfer payments. With the arrival of more secure transfer technologies, however, they were no longer needed for that purpose. While these notes are legal tender and may still be found in circulation today, the Federal Reserve Banks remove them from circulation and destroy them as they are received.

I am still looking for whose on them and if he had glasses or not, i really have homework i should be doin
$500 William McKinley
$1,000 Grover Cleveland
$5,000 James Madison
$10,000 Salmon P. Chase
 
iDM said:
The largest denomination of currency ever printed by the Bureau of Engraving and Printing (BEP) was the $100,000 Series 1934 Gold Certificate featuring the portrait of President Wilson. <snip>
Holy cow... that shames me for not wanting to cough up $50 for the special edition Mickey Mouse 50th Disneyland anniversary dollar. :eek: Man, if I had one of those $100K bills... mmm... then I'd probably/hopefully be rich enough to keep one of them for novelty.

And Katie... you're right... 15% of creepy guy money... I'd probably shame Bill Gates. :rolleyes:
 

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iDM said:
i really have homework i should be doin

Get thee back to the books!
(i'm like.. 80% with my calc. I'm just rewarding myself with a little MR. :))

and YUP! $100k. Transfer money between banks. (not like the episode of the simpsons when Mr. Burns has the million dollar bill.. although I know that is where most of my cultural knowledge.. other people have to be like that, too. :p)

and NOPE! Wilson didn't wear glasses on it, IIRC.

It was really cool to see it at the Dallas Fed, though. I love that place!

non-sequitor: I'm actually applying to be on the "student board of directors" at the Houston branch. It sounds a lot more fancy than it probably is. Waking up at some ungodly hour to be at the Houston Branch by 7:30 on a friday every month to talk econ with people... AND GET REFRESCAS? UM.. I believe the term is heeeellllllll yeessss!!!! then, in spring, I get to go to an elementary school and teach the kids economics! YESS!!!!! "Supply and Demand is like when your mom gives you cookies"
If I end up doing it, I'll be even more nerdtastical.
Do I need help with that? NO! Run away Fed, RUN AWAY!

devilot76 said:
And Katie... you're right... 15% of creepy guy money... I'd probably shame Bill Gates.
No, we won't shame him-- our client lists will be confidential..
:D :p ;)

*giggles to self for next half hour*
 
Looks nice. Just hope that it will do its job in preventing counterfeiting. Wonder how long it will be before I see my first one?
 
candan9019 said:
They're all the same size, just taller than American bills.

Personally I like Canadian bills. I don't have to take all my money out of my wallet to see what I have, I just look at the colors.

Canadian money looks like monopoly money...
 
Damn. That is hot. I always hated that bloody oval on the old new ones...
 
iDM said:
Haha found the front and back of both the 100,000 bill and athe 10,000 bill

Wonder if they'd try to have you arrested if you tried to pay with that one on, say, MacDonalds.

They've done it for less other places :p
 
I like the look of the new $10 bill (how could it really look worse :p ).
There are just two things I don't understand...
1) The gov. comes out with these new bills so people can't counterfeit money, but they never stop accepting the old one - why not just counterfeit the old one then? They need to make a deadline for accepting the old bills. Part of the problem is they come out with new deisgins so often that no one thinks twice of taking an old bill.
2) Why don't they just update and reveal a whole set of new bills at the same time - starting at the $1 bill and ending at the $10,000 bill (I think that is the highest). American money is ugly enough, and then they make the whole thing worse by not having all of the money match.
I swear everyone in charge of something, whether it be the US treasury or FEMA, they are just all stupid!

EDIT: Oops, the largest bill still being printed is the $100, not the $10,000
 
wdlove said:
Looks nice. Just hope that it will do its job in preventing counterfeiting. Wonder how long it will be before I see my first one?
As soon as you print your first one! :) :D
 
In terms of old bills: the majority of cashiers are trained that if they recieve a lot of crisp old-style bills the need to call to get them checked under a UV light. It is highly improbable that there are many new-old ones out there, so it is suspicious when people pay with them or take a bunch to the bank.

Also, the reason all the bills aren't updated is because it is a very difficult process to create the new die for the bills. In addition, if everyone was suddenly swamped with new bills, some cashiers and other people dealing with money would get too confused. Its a big deal to update a little bit of currency because automated money counters, bill changer machines and who know wha the heck else needs to be updated.

Ones will never be updated... even though there was a design released for the "big head" ones. All the vending machine companies essentially said that they wouldn't accept bills anymore if the $1 bill design was changed since it would be OODLES more work to update it.

Why is the $100 taking so long? Some are speculating that it could be because they are going for an entirely new style manufacture. AKA: Plastic/polymer (whatever) money just like the Australians.

The $500 bill will never be reintroduced nor redesigned. For some reason we just don't like bills that large. Though it is the perfect bill for purchasing a Mac mini.

The $2 bill is not (in the short-term) being redesigned, even though I want it to be, because as mentioned before it is expensive to change the dies and carve new ones, so we are stuck with what we've got since there is not enough demand for it.

There was a reprinting of the two in 1976 (with the Delcaration of Independence on the back) another in 1995 and another in 2003/2004. Start using them, guys!


EricNau said:
I like the look of the new $10 bill (how could it really look worse :p ).
There are just two things I don't understand...
1) The gov. comes out with these new bills so people can't counterfeit money, but they never stop accepting the old one - why not just counterfeit the old one then? They need to make a deadline for accepting the old bills. Part of the problem is they come out with new deisgins so often that no one thinks twice of taking an old bill.
2) Why don't they just update and reveal a whole set of new bills at the same time - starting at the $1 bill and ending at the $10,000 bill (I think that is the highest). American money is ugly enough, and then they make the whole thing worse by not having all of the money match.
I swear everyone in charge of something, whether it be the US treasury or FEMA, they are just all stupid!

EDIT: Oops, the largest bill still being printed is the $100, not the $10,000
 
im_to_hyper said:
In terms of old bills: the majority of cashiers are trained that if they recieve a lot of crisp old-style bills the need to call to get them checked under a UV light. It is highly improbable that there are many new-old ones out there, so it is suspicious when people pay with them or take a bunch to the bank.
Hah! All those unsuspecting people... unused to the Chinese New Year-stash-your-red-envelope-money-for-emergency-uses brand new/'old' money. :p
 
candan9019 said:
They're all the same size, just taller than American bills.

Personally I like Canadian bills. I don't have to take all my money out of my wallet to see what I have, I just look at the colors.

I like the colour in our Canadian bills, but hate the loonie (one dollar coin) and the toonie (two dollar coin) - which replaced the one dollar and two dollar bills. now they're talking (more than half seriously) about replacing the five dollar bill with a larger coin.

Frig. I go through wallets like nothing. Can you imagine giving someone a $20 at the store and buying something for $5, and getting a $5 coin, 4 toonies and 2 loonies back.

I like American Money - it gives you a bit of a history lesson as you use it and they don't have so many damn coins.
 
fartheststar said:
...4 toonies and 2 loonies back.
...

Hehe, during Fed Challenge/economics yesterday, someone was reading an article about the Forex market, and the "Canadia Loonie" came up. I was the only one that knew what it really meant.
After I explained it, we laughed ourselves silly.

john:"Canadian money has a funny name"
kt: and an even more hilarious exchange rate!
;)

Don't worry, I still love ya, canada.
 
fartheststar said:
I like the colour in our Canadian bills, but hate the loonie (one dollar coin) and the toonie (two dollar coin) - which replaced the one dollar and two dollar bills.

I like them. I remember in high school (in the states) everyone fighting with the vending machine to take there dollar bills. In Canada you just put your coins in.

Not to mention my spare change jar is worth a whole lot more because of those loonies and toonies. :)
 
Originally posted by im_to_hyper
...
The $2 bill is not (in the short-term) being redesigned, even though I want it to be, because as mentioned before it is expensive to change the dies and carve new ones, so we are stuck with what we've got since there is not enough demand for it.
There was a reprinting of the two in 1976 (with the Delcaration of Independence on the back) another in 1995 and another in 2003/2004. Start using them, guys!

Just wondering, where is the cashier supposed to put the $2 bills in the cash register?
 
Originally posted by im_to_hyper
Ones will never be updated... even though there was a design released for the "big head" ones. All the vending machine companies essentially said that they wouldn't accept bills anymore if the $1 bill design was changed since it would be OODLES more work to update it.
I feel so sorry for some of those people who might actually have to work. And if it's a money issue - those companies have it. I want my new $1 bill!
 
katie ta achoo said:
not like the episode of the simpsons when Mr. Burns has the million dollar bill..
Actually, that was a trillion dollar bill. Simpsons rule...
Whoever said let's get rid of pennies, I wholeheartedly agree. Those little buggers are worthless and just fill up your pockets. I suppose I shouldn't say that, as I live in Arizona and copper is one of our chief exports, but what the heck. We could start making nickles out of copper. But then we'd have to change their name to "coppers"...
 
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