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Am I missing something or does the author not explain why bring back specifically the $500 bill? The defense seems to be, "Well, in case of catastrophe, we shou

Am I missing something or does the author not explain why bring back specifically the $500 bill? The defense seems to be, "Well, in case of catastrophe, we should have cash," which I agree with, but that still doesn't explain why the $500 note. If anything, the author makes a good case for maintaining smaller denominations.

teslabox 9y ago
> Am I missing something or does the author not explain why bring back specifically the $500 bill? Inflation? "[...] despite the amount of inflation that has occurred since 1969 (a $500 bill is now worth less, in real terms, than a $100 bill was worth in 1969)." -https://en.wikipedia.org/wiki/Large_denominations_of_United_States_currency#Passive_retirement https://en.wikipedia.org/wiki/Large_denominations_of_United_... The $500 bill pictured in the article is a gold certificate: "Redeemable In Gold On Demand at the United States Treasury"... Looks like all $500 gold certificates were printed in 1928, as the 1934 high-denomination bills were only used for intra-federal reserve transfers: https://en.wikipedia.org/wiki/Large_denominations_of_United_States_currency#High-denomination_.28HD.29_banknote_issuing_data https://en.wikipedia.org/wiki/Large_denominations_of_United_...