What is the purpose of not having >$100?

Why'd we outlaw the $500+ denominations? Too easy for criminals to carry
large sums of money?

Then again, when was the last time you spent more than $500 on 1 thing or at
1 place and payed cash....

They had not been printed since 1944 when they were removed from normal
circulation channels beginning in 1969. They are not really outlawed, just
not circulated anymore, meaning basically if one come into a bank they
should send it into the Federal Reserve Bank.

Back when they were printed they were used to move large amounts of cash
between financial institutions etc, later on with the advent of electronic
banking it was easier and safer to move it electronically and not have a
large bill for it. Of course organised crime used these bills to move large
sums, afterwards they were stuck with hundreds. I do remember about 10-12
years ago a $10,000 was found on a drug lord down in Florida.

Dave Parrish

Anonymous Joe wrote in message
news:Z%YSa.102720$OZ2.20466@rwcrnsc54...
Why'd we outlaw the $500+ denominations? Too easy for criminals to carry
large sums of money?

Then again, when was the last time you spent more than $500 on 1 thing or
at
1 place and payed cash....

On Mon, 21 Jul 2003 20:08:16 -0400, "Scottishmoney"
wrote:

I recall reading/dreaming/thinking that the new up and coming drug
lord would favour the 500 Euro note as a way of moving large
quantities of ready cash around the globe. That said I have decided
not to investigate further...

On a slightly related note (sigh!) what was the reason for the Bank of
England withdrawing the 1000 Pound Note before the Second World War?
Surely we didn't have crime back in the olden days did we?

Thanks
Darren


Back when they were printed they were used to move large amounts of cash
between financial institutions etc, later on with the advent of electronic
banking it was easier and safer to move it electronically and not have a
large bill for it. Of course organised crime used these bills to move large
sums, afterwards they were stuck with hundreds. I do remember about 10-12
years ago a $10,000 was found on a drug lord down in Florida.

Dave Parrish

Anonymous Joe wrote in message
news:Z%YSa.102720$OZ2.20466@rwcrnsc54...
Why'd we outlaw the $500+ denominations? Too easy for criminals to carry
large sums of money?

Then again, when was the last time you spent more than $500 on 1 thing or
at
1 place and payed cash....

From: Darren
what was the reason for the Bank of England withdrawing the 1000 Pound Note
before the Second World War?

To keep the Nazi's from too easilly destroying the British economy through
counterfeiting and flooding the global market with them?

8-/
Coin Saver

Coin Saver wrote in message
...
From: Darren
what was the reason for the Bank of England withdrawing the 1000 Pound
Note
before the Second World War?

To keep the Nazi's from too easilly destroying the British economy through
counterfeiting and flooding the global market with them?

8-/
Coin Saver

Indeed, all banknotes over £5 were withdrawn and no more printed until the
middle 1960's when tenners and twenties were printed with new designs
featuring QEII. £50's and £100's came later, in the late 1970's or early
1980's. Scottish and Northern Irish banks continued to issue larger
denomination notes as they had not come under threat of forgery from the
Axis powers.

Back during the time of WWII £5 was about a month's wages for most workers
in the UK, only the Ascot set occasioned the larger denomination notes
frequently.

Dave Parrish
Scottish Banknotes and Coins:
http://www.angelfire.com/ns/scottishmoney

On Tue, 22 Jul 2003 12:34:21 -0400, "Scottishmoney"
wrote:

The "Ascot set" - my gran's house had one of those water heaters in
the kitchen. She never mentioned any £100 notes though...



Back during the time of WWII £5 was about a month's wages for most workers
in the UK, only the Ascot set occasioned the larger denomination notes
frequently.

Dave Parrish
Scottish Banknotes and Coins:
http://www.angelfire.com/ns/scottishmoney