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Would the vending industry benefit in any way, from $200, $500, and$1,000 bills?



 
 
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  #1  
Old January 11th 09, 07:40 AM posted to rec.collecting.coins
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Posts: 123
Default Would the vending industry benefit in any way, from $200, $500, and$1,000 bills?

Hey,

I just made a topic about writing to NAMA, and I'm sending them a
letter, and a copy of the three bills I am proposing to Congress,
looking for support. But I had a question.

Is there any way that the vending industry would benefit from
denominations larger than $100? I mean, I know that the casino
industry would love people carrying around $1,000 bills, but are the
casino machines considered "vending" machines? Or is the casino
industry seperate? Are self-checkouts considere vending machines?
Because I know that my mother can blow as $200, or even a $500 bill,
on groceries, and I'm pretty sure that we could blow a $1,000 bill,
during Christmas time, with all of the gift buying for the kids and
grandkids, and all of the crappy quailty Christmas lights and light-up
decorations we have to replace each year, since they quit working,
after a year, even if packe away safely. So, if self-checkouts are
vending machines, that is one way I could see the vending industry
benefit from denominations larger than $100. But, are there any other
vending machines that would be possible to need to accept these three
large denominations?
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  #2  
Old January 11th 09, 09:16 AM posted to rec.collecting.coins
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Posts: 6
Default Would the vending industry benefit in any way, from $200, $500,and $1,000 bills?

On Jan 11, 12:40*am, wrote:
Hey,

I just made a topic about writing to NAMA, and I'm sending them a
letter, and a copy of the three bills I am proposing to Congress,
looking for support. But I had a question.

Is there any way that the vending industry would benefit from
denominations larger than $100? I mean, I know that the casino
industry would love people carrying around $1,000 bills, but are the
casino machines considered "vending" machines? Or is the casino
industry seperate? Are self-checkouts considere vending machines?
Because I know that my mother can blow as $200, or even a $500 bill,
on groceries, and I'm pretty sure that we could blow a $1,000 bill,
during Christmas time, with all of the gift buying for the kids and
grandkids, and all of the crappy quailty Christmas lights and light-up
decorations we have to replace each year, since they quit working,
after a year, even if packe away safely. So, if self-checkouts are
vending machines, that is one way I could see the vending industry
benefit from denominations larger than $100. But, are there any other
vending machines that would be possible to need to accept these three
large denominations?


Never going to happen. The large denoms have been out of circulation
so long that there is little basis in current society for their use.
On top of that, the government gets a lot of mileage out of being able
to track electronic transactions. Third, you've got businesses now
that won't take a $50 or $100 for fear of loss on a counterfeit.
Fourth, I meet people all the time that refuse to carry any cash
whatsoever. I think they're retarded, but being retarded seems to
work for them. I personally am all for high-security large
denominations, but I don't see it ever happening.

Maybe when the Amero is foisted upon us they will match the Euro,
which has upper denominations of 200 and 500. : )

-beaumon
  #3  
Old January 11th 09, 11:46 AM posted to rec.collecting.coins
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Posts: 123
Default Would the vending industry benefit in any way, from $200, $500,and $1,000 bills?



Maybe when the Amero is foisted upon us they will match the Euro,
which has upper denominations of 200 and 500. *: )

-beaumon-


What exactly is this "Amero" currency I've recently heard about? Is it
like an american version of the Euro, or what? And if we went to this
Amero, and it had 200 and 500 Ameros, and it was the same value as the
current Federal Reserve notes, we could still use a 1,000 Amero note,
seeing as the 500 Euro note is worth over $800 U.S. already.

  #4  
Old January 11th 09, 03:11 PM posted to rec.collecting.coins
Bruce Remick
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Posts: 3,391
Default Would the vending industry benefit in any way, from $200, $500, and $1,000 bills?


wrote in message
...


Maybe when the Amero is foisted upon us they will match the Euro,
which has upper denominations of 200 and 500. : )

-beaumon-


What exactly is this "Amero" currency I've recently heard about? Is it
like an american version of the Euro, or what? And if we went to this
Amero, and it had 200 and 500 Ameros, and it was the same value as the
current Federal Reserve notes, we could still use a 1,000 Amero note,
seeing as the 500 Euro note is worth over $800 U.S. already.
----

Amero 500 or 1,000 bills will be of little use to those out of work or to
others struggling to make ends meet. One more idea that would appeal most
to those few well-heeled individuals who might actually do their own
shopping in a store with large amounts of cash. I wonder what percent of
the population they would comprise.


  #5  
Old January 11th 09, 05:24 PM posted to rec.collecting.coins
Padraic Brown
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Posts: 491
Default Would the vending industry benefit in any way, from $200, $500, and $1,000 bills?

On Sat, 10 Jan 2009 22:40:49 -0800 (PST), wrote:

Hey,

I just made a topic about writing to NAMA, and I'm sending them a
letter, and a copy of the three bills I am proposing to Congress,
looking for support. But I had a question.

Is there any way that the vending industry would benefit from
denominations larger than $100? I mean, I know that the casino
industry would love people carrying around $1,000 bills, but are the
casino machines considered "vending" machines? Or is the casino
industry seperate?


Casinos seem to be moving away from cash. I went to Las Vegas a few
years ago fully expecting to find all those machines that take (and
pay out) dollar coins and half dollars and the like. In reality, all
the casinos I went to had machines with swipe cards and accepted paper
currency (so here I agree that casinos *might* benefit from higher
denomination currency). The payouts came in the form of a receipt that
you had to take to the cashier. We stopped at the big casino up in
Akwesasne and found none that would take coins at all.

Are self-checkouts considere vending machines?


If they don't presently accept $100 notes, they are unlikely to accept
any future large denomination notes. I could see self checkouts at
Home Depot or similar accepting such -- contractors can spend lots of
money there.

Because I know that my mother can blow as $200, or even a $500 bill,
on groceries,


Wow. I can only hope she still has a large family at home! $500 a
month on groceries is a *lot* of money.

and I'm pretty sure that we could blow a $1,000 bill,
during Christmas time, with all of the gift buying for the kids and
grandkids, and all of the crappy quailty Christmas lights and light-up
decorations we have to replace each year, since they quit working,
after a year, even if packe away safely.


I've found that the led xmas lights are pretty stable and last a good
while. You might try them. They also supposedly take less electricity
to operate.

So, if self-checkouts are
vending machines, that is one way I could see the vending industry
benefit from denominations larger than $100. But, are there any other
vending machines that would be possible to need to accept these three
large denominations?


Perhaps ticket vending machines (trains, planes, perhaps theater
tickets). Perhaps a very high end machine that vends expensive watches
or jewellery in some posh hotel or something like that.

I can't really think of a great need for vending machines that take a
$500 note. For that matter, I can't think of any great need for a $500
note, and I've been generally in favour of the high denomination
notes. Even with inflation eating away at the value of money -- I'd
bet that a $500 note buys today what a $100 note bought 25 or 30 years
ago -- the ubiquity of electronic payments at places where expensive
things can be bought all but obviate the need for large bills. I do
think they should be available for people who need or wish to use
them, though. There are always venues where the availability of
electronic payments are unavailable or spotty -- small towns, coin
shows, antique shows, flea markets, etc. And in general, it's just
plain silly (and ultimately dangerous) to have all your purchases
tracked and collated in some database somewhere...

Padraic
  #7  
Old January 11th 09, 06:53 PM posted to rec.collecting.coins
dsybok
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Posts: 23
Default Would the vending industry benefit in any way, from $200, $500, and $1,000 bills?


Is there any way that the vending industry would benefit from
denominations larger than $100? I mean, I know that the casino



I would love to have a $500 or $1000 option for when I buy a car in cash or
something along those lines. The government does not want people having the
ability to carry around such large sums undetected, and prefers the $100 to
be the largest denomination, so whether or not it is useful, the Feds will
never allow it, so its pretty useless to speculate.


D


  #8  
Old January 12th 09, 02:46 AM posted to rec.collecting.coins
Bruce Remick
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Posts: 3,391
Default Would the vending industry benefit in any way, from $200, $500, and $1,000 bills?


"dsybok" wrote in message
m...

Is there any way that the vending industry would benefit from
denominations larger than $100? I mean, I know that the casino



I would love to have a $500 or $1000 option for when I buy a car in cash
or something along those lines. The government does not want people having
the ability to carry around such large sums undetected, and prefers the
$100 to be the largest denomination, so whether or not it is useful, the
Feds will never allow it, so its pretty useless to speculate.



If this size bill ever became commonplace for purchases, every person
heading for a car showroom entrance would be vulnerable to salivating crooks
looking to pick out a fool stupid enough to carry a wad of $1,000's. I'd
prefer to lose a credit card and twenty bucks; the card can be cancelled.
But then I'd probably get shot for only having twenty bucks. Bummer.

Today, I'd be curious as to what percentage of new car sales involve the
exchange of any amount of cash at all.


  #9  
Old January 12th 09, 12:52 PM posted to rec.collecting.coins
rjn
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Posts: 57
Default Would the vending industry benefit in any way, from $200, $500,and $1,000 bills?

wrote:

Is there any way that the vending industry would benefit from
denominations larger than $100?


Stay near your phone. If the festering fiscal insanity in DC
has predictably Zimbabwean results, you may be drafted
to design the $50,000,000.00 bill.

Meanwhile, what the vending industry would benefit from is
some stability in the security features of US currency.
I recently tried to use automated car washes in a nearby
city, and every one of them had the bill slot taped over.
My guess is that the wash owners have been unwilling to
pay for bill scanner upgrades to keep up with the churn
coming from Treasury engravers.

I mean, I know that the casino industry would love people
carrying around $1,000 bills,


The casinos would just like to have customers at the moment.
They've already covered the large sums issue with player
cards and chit printers in the gaming equipment.

But if we pretend that we won't have runaway inflation, the
IRS stands in the way. They'd like all transactions to have
paper trails, and they'll lobby against anything larger than
today's $100.

--
Regards, Bob Niland
http://www.access-one.com/rjn email4rjn AT yahoo DOT com
NOT speaking for any employer, client or Internet Service Provider.
  #10  
Old January 19th 09, 05:52 PM posted to rec.collecting.coins
PC[_7_]
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Posts: 855
Default Would the vending industry benefit in any way, from $200, $500, and $1,000 bills?


"Bruce Remick" wrote in message
...


Amero 500 or 1,000 bills will be of little use to those out of work or to
others struggling to make ends meet. One more idea that would appeal most
to those few well-heeled individuals who might actually do their own
shopping in a store with large amounts of cash. I wonder what percent of
the population they would comprise.


Personally if I have $200 or more in my wallet I take some out and put it in
a safer place. The bills would be a nice novelty but I suspect most people
would not use them.

 




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