500 euros

Mint Aero

Why do we have a 500 euro note? I'm no financial guru Gordon geko type but one thing I know is large denominations is an indicator of a weak piss ass currency.

Zimbabwe for example with trillion dollar bills. Worth F-all.
UK for example. Largest bill is 50 pounds. Strong currency.

The American 100 dollar bill is their largest. Yet their currency is weaker...or is it? We've not only a 500 euro bill but also a 200.

Furthermore why were such large denominations brought in from the concept of the euro? Normally these things are phased in as needed...

There must be a good conspiracy theory in here somewhere but be damned if I'm the man to find it...or am I?

Ruu

I believe in you, Mint Aero, looking forward to your findings. Go now and leave me be.

kowloon

It's so you don't have to send your planning application in a bigger envelope.

DEFTLEFTHAND

I believe the ECB are considering its future. I imagine it will be discontinued at some point.

kirving

It's to allow huge cash reserves to be stored in a small space.

http://mobile.reuters.com/article/idUSKCN0VO1UM

Ficheall

The American currency is ****ing awful. I had 10 dollars "in" my wallet and couldn't close it. And they all look the exact ****ing same. Nonsense, so it is.

corner of hells

Mint Aero wrote: »

Why do we have a 500 euro note? I'm no financial guru Gordon geko type but one thing I know is large denominations is an indicator of a weak piss ass currency.

Zimbabwe for example with trillion dollar bills. Worth F-all.
UK for example. Largest bill is 50 pounds. Strong currency.

The American 100 dollar bill is their largest. Yet their currency is weaker...or is it? We've not only a 500 euro bill but also a 200.

Furthermore why were such large denominations brought in from the concept of the euro? Normally these things are phased in as needed...

There must be a good conspiracy theory in here somewhere but be damned if I'm the man to find it...or am I?

Easy there , settle down or your duvet will fall off you again .

Stigura

Buying land, for cash? Them €500's are ye man

Lights On

What else are you going to stick in a strippers g-string?

FloatingVoter

The arms and drugs trade need the ability to move large amounts of cash through ports and airports fast. While the white economy has wee hips and dips - the black keeps ticking over.

Atlantic Dawn

When moving 50k from A to B it's dead handy.

Zaph

In certain countries, most notably Germany and (I think) Italy, they like the idea of holding cash in large denominations. Consequently when the Euro was introduced they printed €200 and €500 notes to satisfy the demand for them in these countries. Unfortunately now they're finding that these notes are also very popular with criminals as they can store very large sums of money without taking up much space. As a result the ECB is currently reviewing whether or not they will continue to print these denominations.

The Randy Riverbeast

I find them handy, otherwise I would be stuck carrying around a bunch of 100s.

America has notes up to 10k, havent redone them in awhile afaik.

esforum

Actually there are 1 million pound notes in the UK and the US while no longer issuing new ones, still recognises the 1000, 5000 and 10,000 dollar bills that are in circulation

whether its worth something or not isnt in how high the numbers, but what it can buy

punisher5112

I use to wipe me ass with 500s but have cut back and use 100s instead.

Peasants using anything lower......

bnt

DEFTLEFTHAND wrote: »

I believe the ECB are considering its future. I imagine it will be discontinued at some point.

The perception is that the 500 is used only by criminals and anyone else doing deals that the taxman would not like. Some countries are doing away with cash already.

tomwaterford

bnt wrote: »

The perception is that the 500 is used only by criminals and anyone else doing deals that the taxman would not like. Some countries are doing away with cash already.

I've heard of them being handed in over the bar at weddings in five star hotels

Never seen one myself and only once ever had a 100 euro note

Ben Gadot

Go into a shop and hand a note of €100 or above over the counter and enjoy the ensuing meltdown.

It's currency, but currency that's fairly redundant. I'm fairly certain that shops can refuse currency of this sort as well which tells you everything.

As an aside, I won a couple of ton in the bookies a couple of years ago and got handed a €100 note. I baulked and contemplated what to do, so decided to throw it on Liverpool against Palace in the FA cup. Liverpool won and I breezed into the bookies the next day all chuffed with myself, only for the same person to hand me a €100 note again. I decided to stop the game of chicken there. The cheeky mare won that battle.

ebbsy

I like chicken.

Antar Bolaeisk

Is the E500 note in circulation in Ireland?

I've seen a few E200s but only ever one E500.

The flying mouse

I have only have a few hundred of them, but really there so hard to change and are not accepted really anywhere, Even the banks will/might ask you were you got them.They are being discontinued as far as i know.

Sleepy

It's rare that you'll see them but yes there's a few out there. We got one as a wedding gift.

munster87

punisher5112 wrote: »

I use to wipe me ass with 500s but have cut back and use 100s instead.

Peasants using anything lower......

'Can that still be used as legal tender?'

Valetta

munster87 wrote: »

'Can that still be used as legal tender?'

There's a prima feces case to say "no".

Firefox11

ebbsy wrote: »

I like chicken.

I Like Cake?

aaakev

I went to lodge a few €500 and €200 notes into the bank and they had to as a supervisor if it was ok! Madness!

frozenfrozen

Aren't 500 euro notes actually worth more than 500 euro now?

doolox

It would appear that large notes are not good for doing transactions without attracting unwanted notice and attention from people handling money, which might be recalled later to the Gardai.

This is hardly a situation that crooks would want so they may be happier with €50 euro notes or lesser even if they were in bulkier packets.

ziedth

aaakev wrote: »

I went to lodge a few €500 and €200 notes into the bank and they had to as a supervisor if it was ok! Madness!

AFAIK the bank are the only ones who legally have to accept them. Bit like bags of coin and so on. Shops have the option to refuse tender that is outside the norm (I forget the actual wording)

murpho999

bnt wrote: »

The perception is that the 500 is used only by criminals and anyone else doing deals that the taxman would not like. Some countries are doing away with cash already.

Which countries are doing that? I'd love to know.

newacc2015

The Euro is the Deutsch Mark 2.0. Germany used to have a high value Deutsche Mark note, so the ECB created a €500 note as a replacement. German speaking citizens are very afraid of being spied on by the state. The access to high value bank notes is seen as protection against that

The ECB are considering dumping the €500 bank note. It is mainly being used by terrorist and criminal organisations. The Spanish have nick named the €500 bank note Al Qaeda, as it is mainly used for bad things

washman3

tomwaterford wrote: »

I've heard of them being handed in over the bar at weddings in five star hotels

Never seen one myself and only once ever had a 100 euro note

Plenty of them in circulation at traveller weddings in Rathkeale each Christmas. Apparently they 'earn' them from their 'dealings' throughout Europe during the year and love to be seen spending them 'back home' at Christmas.

kjl

Before the switch over, I once went into McDonald's with a IE£100 note, they took about 10 min before the accepted it.

Dr Turk Turkelton

Ficheall wrote: »

The American currency is ****ing awful. I had 10 dollars "in" my wallet and couldn't close it. And they all look the exact ****ing same. Nonsense, so it is.

Paid for a dollar bus fare in Miami years ago with a hundred dollar bill.
Think it was around 2003 and I'm still raging over it.
What sort of idiot decided to make all their bank notes the same size and roughly the same colour.
Also if you are ordering large sums of Euro in the States the banks give them out in 100/200 euro notes.
Easy to change in the local pub.

K.Flyer

frozenfrozen wrote: »

Aren't 500 euro notes actually worth more than 500 euro now?

Not if you brought it into PawnStars, probably only get two hundred for it as they would have to frame it and wait for somone else to come along and buy it from them.... :pac:

Rightwing

Zaph wrote: »

In certain countries, most notably Germany and (I think) Italy, they like the idea of holding cash in large denominations. Consequently when the Euro was introduced they printed €200 and €500 notes to satisfy the demand for them in these countries. Unfortunately now they're finding that these notes are also very popular with criminals as they can store very large sums of money without taking up much space. As a result the ECB is currently reviewing whether or not they will continue to print these denominations.

Correct.

But we'll find the same with the €100, €200 as well, as they want to move to a cashless society.

If you are serious about tackling criminals, I can think of better ways.

moleyv

tomwaterford wrote:

I've heard of them being handed in over the bar at weddings in five star hotels

I worked in a hotel bar in the early 2000s, some maggot paid for his pint of Heineken one day with a 500. I took my time making sure it was real.

As far as I know, you have to request the bank for 500s, so its mostly a look at me thing. Backed up by the fact that yer man basically waved it in the air before handing it to me.

100s are common, 200s not so much.

Mesrine65

€500 notes are the default note of choice for snorting cocaine by media darlings/rock Gods/gangsters/social movers & shakers/politicos...sure everyone knows that OP :rolleyes: :P

Sh1tbag OToole

F*ck the cashless society. They should make a €1000 note

Ronald Wilson Reagan

Phfff, who needs 'em when there's a perfectly good Dollar; and if anyone's thinking of switching over to that surrender monkey currency to trade oil lets just say it wouldn't be a good idea, just ask Gaddafi and Saddam;).

Zaph

Rightwing wrote: »

But we'll find the same with the €100, €200 as well, as they want to move to a cashless society.

As I understand it the €200 is under review as well. As for the €100, it's only worth marginally more than $100 at the moment, and for many years the $100 bill was the banknote of choice for the world's leading criminals. There's no suggestion of the $100 being phased out any time soon.

inforfun

We used to have a 1000 guilder note in The Netherlands. Would be €450
Weak the guilder definitely wasnt.

Come to think of it.... had those big green 1000 notes quite regular in my pocket and never had a €500 note.....
Something not right with that.

Rightwing

Zaph wrote: »

As I understand it the €200 is under review as well. As for the €100, it's only worth marginally more than $100 at the moment, and for many years the $100 bill was the banknote of choice for the world's leading criminals. There's no suggestion of the $100 being phased out any time soon.

http://www.cnbc.com/2016/02/19/debate-over-the-100-bill-gamblers-and-negative-rates.html

The battle for the $100 bill is spilling into the public sphere: A conversation that has taken place behind closed doors is becoming a major point of monetary contention.
Earlier this week, former Treasury Secretary Larry Summers wrote a call to "kill the $100 bill" . Claiming that large-denomination bills provide a "boon to corruption and crime," Summers goes so far as to suggest "a global agreement to stop issuing notes worth more than say $50 or $100."

Dirty Dingus McGee

The Randy Riverbeast wrote: »

I find them handy, otherwise I would be stuck carrying around a bunch of 100s.

America has notes up to 10k, havent redone them in awhile afaik.

They even had a trillion dollar bill at one stage.

Qiaonasen

Switzerland has a 1000 CHF note. Worth 917 Euro.

100 euro notes are in common circulation in Germany for sure. Every ATM has them. 200 I only ever saw in the bank from a distance. Had a 500 Euro note to pay my deposit on apartment also. Why not like? What is the harm?

Rightwing

Qiaonasen wrote: »

Switzerland has a 1000 CHF note. Worth 917 Euro.

100 euro notes are in common circulation in Germany for sure. Every ATM has them. 200 I only ever saw in the bank from a distance. Had a 500 Euro note to pay my deposit on apartment also. Why not like? What is the harm?

Apparently criminals. :rolleyes: ...Best way to tackle them is to ban the notes, not seize their cars/assets/property or f*ck them into jail.

No wonder their is a political revolution going on with the likes of Trump

Slightly unrelated but they do use the e100 in Germany.

Found it a bit perplexing when one emerged from an ATM, thinking like Ireland there could be signs asking against their use but had no trouble using it on a small purchase.

keith16

Qiaonasen wrote: »

Switzerland has a 1000 CHF note. Worth 917 Euro

Yep, and they wouldn't bat an eyelid if you handed one over in the supermarket for a small purchase.

pa990

Mint Aero wrote: »

Why do we have a 500 euro note? I'm no financial guru Gordon geko type but one thing I know is large denominations is an indicator of a weak piss ass currency.

Zimbabwe for example with trillion dollar bills. Worth F-all.
UK for example. Largest bill is 50 pounds. Strong currency.

The American 100 dollar bill is their largest. Yet their currency is weaker...or is it? We've not only a 500 euro bill but also a 200.

Furthermore why were such large denominations brought in from the concept of the euro? Normally these things are phased in as needed...

There must be a good conspiracy theory in here somewhere but be damned if I'm the man to find it...or am I?

https://en.wikipedia.org/wiki/Large_denominations_of_United_States_currency#/media/File:US-$100000-GC-1934-Fr-2413.jpg

martinedwards

Mint Aero wrote: »

UK for example. Largest bill is 50 pounds.

Sure about that?

I remember my Dad buying cattle in the PW strike in '73 with £100 notes.

yes, I AM that old.......

the Bank of England may not print them, but the Scottish and Northern Ireland banks do

as to €500s?

I work for one of the major UK bank groups and we don't touch €500s

so don't bring them into one of our branches to change them for sterling.

supposedly it's a forgery thing.........

VincePP

500 & 200 notes are not printed by or issued by the central bank of Ireland.

Any notes that are about would have come via mainland Europe at some stage.

It is likely that they will be phased out, but will always be exchangeable in banks.

As for the infamous "legal tender" argument - unless a debt has been incurred and the note is being used to pay that debt, no shop or any type of retail establishment can be forced to accept any notes of any value as in a regular retail transaction a "debt" has not been created.