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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?

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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