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the ECB also removed the 500€ bill, so the cost of storing cash went up, because you need greater storage, at least that was a theory that I heard
by arez 7y ago
the ECB also removed the 500€ bill, so the cost of storing cash went up, because you need greater storage, at least that was a theory that I heard
- nabla9 7y agoIndeed. 500€ bill was known as "Bin Laden" because it was so hard to find one. It was estimated that 90% of the bills were held by drug dealers, money launderers and other criminals.
- princekolt 7y agoThey're gorgeous though. Because they're so low circulation, when you do get to see one they look brand-new. My father got one from a currency exchange this year and when he mentioned that I had to take a picture of it: https://imgur.com/a/aiaZmP2 https://imgur.com/a/aiaZmP2 Edit: I suppose since it was an exchange outside of Europe, they probably wanna put them in circulation before they lose legal tender status.
- nabla9 7y agoThey will maintain their legal tender status. ECB just stopped printing more and existing notes will be removed from circulation when they enter the banking system.