500 euros

Mint Aero · 25-03-2016 02:17AM #1

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 · 25-03-2016 02:21AM

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

kowloon · 25-03-2016 02:22AM

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

DEFTLEFTHAND · 25-03-2016 02:23AM

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

kirving · 25-03-2016 02:23AM

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

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

Ficheall · 25-03-2016 02:30AM

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 · 25-03-2016 02:31AM

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 · 25-03-2016 02:36AM

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

Lights On · 25-03-2016 02:49AM

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

FloatingVoter · 25-03-2016 02:55AM

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 · 25-03-2016 02:59AM

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

Zaph · 25-03-2016 03:00AM

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 · 25-03-2016 03:03AM

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 · 25-03-2016 03:08AM

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 · 25-03-2016 03:11AM

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

Peasants using anything lower......

bnt · 25-03-2016 08:44AM

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 · 25-03-2016 08:54AM

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 · 25-03-2016 08:55AM

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 · 25-03-2016 09:10AM

I like chicken.

Antar Bolaeisk · 25-03-2016 10:34AM

Is the E500 note in circulation in Ireland?

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

The flying mouse · 25-03-2016 10:42AM

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 · 25-03-2016 10:42AM

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

munster87 · 25-03-2016 10:46AM

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 · 25-03-2016 10:54AM

munster87 wrote: »

'Can that still be used as legal tender?'

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

Firefox11 · 25-03-2016 10:57AM

ebbsy wrote: »

I like chicken.

I Like Cake?

aaakev · 25-03-2016 11:02AM

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 · 25-03-2016 11:07AM

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

doolox · 25-03-2016 11:14AM

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 · 25-03-2016 11:20AM

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 · 25-03-2016 11:21AM

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 · 25-03-2016 11:26AM

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

500 euros

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