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We Don't Want Your Steenkin' $1, $5, And $10 Dollar Bills

Tyler Durden's picture




 

Everyone knows that when it comes to US currency in circulation, the $2 and the $50 bills are rapidly approaching numismatic status due to either the government's unwillingness to print them in sufficient amounts or the general public's unwillingness to accept them as legal Federal Reserve Note tender. What people may not know is how other currency denominations have fared over the years. And as the charts below indicate, the historical government production of various currency denominations may tell us something about actual supply-driven intentions of the Fed and/or upcoming price levels. Because one thing is certain: judging by recent production patterns, the $1, $5 and $10 bills (aka Federal Reserve Notes), all of which saw their lowest production in 30 years in 2010, will soon suffer the fate of the dodo!

 

$1 bill production 1980-2010:

 

$5 bill production 1980-2010:

 

$10 bill production 1980-2010:

 

Why the collapse in production? Is it simply due to the increasing (forced?) migration to electronic, and other, forms of payment? Perhaps. We leave it up to readers to decide on their own.

One thing we do know is that the plunge in small-denomination bills is not uniform. In fact, when it comes to $100 bills, production has never been higher. Is the Fed hinting at something?

$100 bill production 1980-2010:

 

So, how long until we start seeing the face of Grover Cleveland much more often again? 

Source: Moneyfactory.gov

 

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Sat, 10/20/2012 - 11:16 | 2906307 RacerX
Sat, 10/20/2012 - 11:19 | 2906314 Jason T
Jason T's picture

I have one of those.. how the heck did I get one?  lol   .. I think my mother got it at a garage sale

Sat, 10/20/2012 - 11:20 | 2906321 markmotive
markmotive's picture

Strippers across America are rejoicing!

Sat, 10/20/2012 - 11:25 | 2906333 francis_sawyer
francis_sawyer's picture

Barney Frank wants to usher in the era of $3 bills...

Sat, 10/20/2012 - 11:40 | 2906370 Richard Chesler
Richard Chesler's picture

Only when the recycling value of the paper is greater than the value of the fiat, will the financial gain for the Kleptocrats at the expense of citizens be complete.

Sat, 10/20/2012 - 16:35 | 2906747 krispkritter
krispkritter's picture

I always found it interesting that Woodrow Wilson's face adorned the largest bill ever printed likely because he was the Father of the Fed(publicly anyways).

http://www.moneyfactory.gov/100000goldcertificate.html

Somebody should have planted this useless, Progressive fuck 6 feet under before he ever saw office...

Sat, 10/20/2012 - 13:43 | 2906546 rodocostarica
rodocostarica's picture

$3.00 bills? That could be quite queer.

Sat, 10/20/2012 - 18:03 | 2906916 Antifaschistische
Antifaschistische's picture

how about..

we don't need no stinkin $.01 (pennies), $.10 (dimes), $.25 (quarters).

The devaluation of the dollar has made these denominations irrelevant.  Everything we buy could easily be denominated in dollar increments.

Of course, I left of $.05 (nickels) because I think all metal hoarders should have $1,000 in nickels stuffed in a few shoe boxes under their bed.   Not because it's the best metal...although it may be, but because if enough of us do it, it drives the US Treasury insane.

Sat, 10/20/2012 - 13:29 | 2906530 Tango in the Blight
Tango in the Blight's picture

I got mine from eBay. There are plenty of offerings available there of ZIM$ 100 Tril.

Sat, 10/20/2012 - 15:29 | 2906682 Skateboarder
Skateboarder's picture

With a population barely able to reckon, I guess many will tend to think bigger # = better #, regardless of any inflationary factors that need to be taken into consideration and a Benecoptor flying around tossing more of it into their hands. BITCH I GOT A TRILLION DOLLARS... BEAT THAT, HO.

Remember that horrible song that goes "hundreds on the table, twenties on the floor?" The new version would be "trillions on the table, billions on the floor."

 

Sat, 10/20/2012 - 17:42 | 2906880 jonjon831983
jonjon831983's picture

Ive seen coin shops sell em for $10 a piece.

Sat, 10/20/2012 - 18:26 | 2906959 max2205
max2205's picture

Wake up one morning and the gubermint announces that $100 now replaces the $1.00 bill. That would be fun

Six hundred for a pack of smokes. 5000 for a fill up. Your house is now worth 30,000,000 instead of 300,000.

Instant home equity. Weeeeeeee!

Sat, 10/20/2012 - 11:46 | 2906378 Gully Foyle
Gully Foyle's picture

You need $1 bills for the ugly strippers.

Sat, 10/20/2012 - 12:18 | 2906426 mrdenis
mrdenis's picture

After midnight there are no "ugly" strippers 

 

Sat, 10/20/2012 - 12:38 | 2906444 kill switch
kill switch's picture

Hell, Aftern two Vodkas they all look great!!

Sat, 10/20/2012 - 18:18 | 2906944 RockyRacoon
RockyRacoon's picture

They're 2s at 10, and 10s at 2.   How the perspective changes as the night gets longer!

Sat, 10/20/2012 - 13:06 | 2906491 Gully Foyle
Gully Foyle's picture

mrdenis

All women, and some men, look the same in the dark.

Sat, 10/20/2012 - 13:12 | 2906503 Overfed
Overfed's picture

I'll take yer werd fer it.

Sat, 10/20/2012 - 14:14 | 2906599 Gully Foyle
Gully Foyle's picture

Ever stumble across a hot chick photo which upon closer inspection shows a little bit of scrotum?

Sun, 10/21/2012 - 10:43 | 2907645 Abiotic Oil
Abiotic Oil's picture

Always remember,
"You can drink an ugly girl pretty but you can't drink a fat girl skinny."

Sat, 10/20/2012 - 17:38 | 2906869 Oldballplayer
Oldballplayer's picture

Use a Susan B Anthony coin.  Put it in the slot for some "girl on girl" actio0n.

Thu, 12/27/2012 - 00:59 | 3098206 CashIsTrash
CashIsTrash's picture

I throw quarters at the ugly ones

Sat, 10/20/2012 - 12:08 | 2906411 socalbeach
socalbeach's picture

With our government's concern for excessive spending, and Banknanke's academic credentials, I'm confident we'll save ink and use scientific notation if it ever comes to that.

Sat, 10/20/2012 - 12:42 | 2906452 DosZap
DosZap's picture

So, how long until we start seeing the face of Grover Cleveland much more often again? 

Never, too easy to move large amounts easily.......never happen GI.

Cost a small fortune to buy an old one now.

Sat, 10/20/2012 - 13:00 | 2906479 Midas
Midas's picture

I believe you are right.  I forget which casino in Vegas had the display of 10,000 dollar bills.  It may have been the Horseshoe.  They were the type of dollar bills redeemable in silver.  And that was back when 10,000 was some money.   You could move some money with wal-mart money orders in the amount of 1000, but that isn't all that convenient.  They won't exactly redeem 90 of them at once. 

Sat, 10/20/2012 - 17:05 | 2906808 cynicalskeptic
cynicalskeptic's picture

The largest US denominations were gernerally GOLD backed and reserved for interbank use - transfer of funds and reserves.

You are seeing a decline in the PHYSICALPRINTING of currency in general world-wide.  Electronic fund transfers are so much easier AND also give governments FAR more control over financial transactions.  Do not underestimate the desire of governments to control and monitor ALL financial transactions for taxation purposes.  Throughout history governments that are going through financial collapses endeavor to control and TAX more and more of the economy - becoming extractive parasites destroying commerce.

$100 notes are still being printed in large numbers because they have been the defacto 'safe mattress savings' and currency of illegal and black market transactions throughout the world (The 500 Euro has supplanted it to some degre - higher value - but the supply is limited).  The desire to hold $ has bees so strong that the resulting counterfeits have had a negative effect on this trend.  The nulber of obvious and bad counterfiets in Africa is astounding though VERY good 'supernotes' have been around for 30 years - likely from Iran, North Korea and Colombian drug lords.  Given this history you think the FIRST denomination the Fed would replace with high security notes would be the $100 but instead it is tha last... why?

The US has encouraged the holding and use of dollars world-wide (even in illegal endeavors) - all those $100 bills throughout the world add up to hundreds of millions - billions - in non interst bearing T-Bills.   Think about it - cost is a  few cents in exchange for $100 of REAL value for each note.

Note that the US has NEVER withdrawn any issuance of national currency from ciurculation.  A 1917 note is still good for face value - though likely worth far more numismatically (we saw some pristine examples turned in diring the 80's exodus from Russia to the US - biulls kept from before the Russian Revolution).  

This is HIGHLY unusual.  Other nations routinely withdraw and void currency issues.

The US could easily bring the drug trade to a halt by withdrawing and replacing $100 notes - limiting the amount any one person could exchange.  No way for the drug lords to pull off that exchange with all the cash they routinely have oin hand (IF the process wer vigorously enforced and overseen).  Logistically it would be difficult but not impossible HOWEVER doing so would leave manypeople aroundf the world holding useless notes and make everyone rethink their past haboit of saving 'safe' funds in $US - something the US does NOT want to encourage.

Now think about what happens if/when ghe US overtly or via defacto acttions devalues the $US.   The more $US held overseas the more the US government benefits - be those $ in electronic,form, T-Bills or currency.  If you're a debtor - beter to default on as much debt as possible if you're going to default - or pay back with devalued funds.

Sat, 10/20/2012 - 16:30 | 2906768 duo
duo's picture

considering a $50 buys what a $20 did a decade ago, they should be printing more Grants.

Sat, 10/20/2012 - 13:12 | 2906470 ebworthen
ebworthen's picture

RacerX said:

"and how long before we start seeing these:

http://upload.wikimedia.org/wikipedia/commons/3/3e/Zimbabwe_$100_trillion_2009_Obverse.jpg"

We are, it's just in the form of $40 billion-a-month of MBS purchases, digitally, in perpetuity.

Sat, 10/20/2012 - 11:17 | 2906308 redpill
redpill's picture

So much for demanding non-sequential bills in small denominations.

 

We will be forced into 100% electronic, 100% traceable fiat currency very soon.

Sat, 10/20/2012 - 11:48 | 2906387 Caviar Emptor
Caviar Emptor's picture

Cash will be a barbarous relic. Only plastic containing microchips and retinal scans

Sat, 10/20/2012 - 12:05 | 2906409 Yogieu
Yogieu's picture

It isn't something I'm looking forward to. Thieves are going not only to take people's wallets, but also their eyes... or their fingers.

Sat, 10/20/2012 - 12:33 | 2906438 icanhasbailout
icanhasbailout's picture

They'll never get rid of cash - elites can't snort their coke with credit cards.

Sat, 10/20/2012 - 16:04 | 2906724 Papasmurf
Sat, 10/20/2012 - 17:10 | 2906820 XitSam
XitSam's picture

I was in a Walmart this morning, the self checkout didn't take cash, only electronic payments. I don't know if all the self checkouts were this way, but my whole section was.

Sat, 10/20/2012 - 14:46 | 2906631 DFCtomm
DFCtomm's picture

Isn't it already? I never carry cash. It's too big a pain to get it, so I just put my mountain dew on the debit card. I imagine that is all that is being reflected here. It's not a conspiracy theory, but instead a leading indicator of American laziness. Sometimes a cigar is just a cigar.

Sat, 10/20/2012 - 16:29 | 2906765 mvsjcl
mvsjcl's picture

And sometimes a cigar is a big phallus symbol being inserted in a dark sunless tunnel.

Thu, 12/27/2012 - 01:03 | 3098210 CashIsTrash
CashIsTrash's picture

I'm watching the movie In Time right now... That's where we are headed

Sat, 10/20/2012 - 12:46 | 2906456 bank guy in Brussels
bank guy in Brussels's picture

Also, Bruce Krasting did a great ZeroHedge piece on how the US Fed and government might suddenly be very motivated to replace all the current currency notes, with 'red money' that is already printed ... making all the 'green money' notes held all around the world, invalid within 90 days or so

http://www.zerohedge.com/article/red-money-conspiracy-theory-11

Sat, 10/20/2012 - 12:49 | 2906463 DosZap
DosZap's picture

Also, Bruce Krasting did a great ZeroHedge piece on how the US Fed and government might suddenly be very motivated to replace all the current currency notes, with 'red money' that is already printed ... making all the 'green money' notes held all around the world, invalid within 90 days or

 

Yuan?

Sat, 10/20/2012 - 14:11 | 2906598 SilverDOG
SilverDOG's picture

redpill

 

Only for those who refuse to preserve purchasing power and prepare with

precious metals.

 

Keep stacking my friends

Sat, 10/20/2012 - 16:06 | 2906725 zerozulu
zerozulu's picture

After Bankers, Hackers will be very very rich. I will stick to my PM.

Sat, 10/20/2012 - 11:19 | 2906315 thomasincincy
thomasincincy's picture

What I do know is that the ATM only gives me brand new money anymore. The ink is so fresh, you can get high sniffing

Sat, 10/20/2012 - 11:24 | 2906329 Lost Wages
Lost Wages's picture

The reason you get high sniffing money is because of all the coke that's been snorted through it.

Sat, 10/20/2012 - 12:51 | 2906465 DosZap
DosZap's picture

The reason you get high sniffing money is because of all the coke that's been snorted through it.

 

Yep, planning on going on a trip via air?, wash your bills in the fam machine before packing it.

Sat, 10/20/2012 - 11:24 | 2906330 insanelysane
insanelysane's picture

Don't tell anyone but I hear Ben and the banksters are working on new ATMs that are just filled with paper and ink. The ATM just prints the money at the time of the transaction.

Sat, 10/20/2012 - 17:09 | 2906818 cynicalskeptic
cynicalskeptic's picture

They don't work so well.  JPM ATM's in NYC were dispensingbills printed only ion one side

http://usnews.nbcnews.com/_news/2012/10/16/14474151-fbi-man-stuffed-atms...

Sat, 10/20/2012 - 11:21 | 2906317 Ray1968
Ray1968's picture

Get the wheelbarrels out

Sat, 10/20/2012 - 11:20 | 2906319 ultraticum
ultraticum's picture

Is the green bottom chart ammo purchases of the US gubermint?

Sat, 10/20/2012 - 11:50 | 2906320 DoChenRollingBearing
DoChenRollingBearing's picture

Actually I get eight $50 notes and five $20 notes each time I go and pull $500 from my local ATM.  I used to get just twenties...  I asked my blog readers a year or so ago if they were seeing the same. 

Result: No, a few were, but most got twenties out of their ATMs.

Also, I see a lot more fifties in circulation, even my local 7-11 will accept a fifty without a fuss.  MANY visitors to the USA get fifties when they buy their dollars OVER THERE, I have seen that over and over.  So, I do NOT see any quick end to the $50 Federal Reserve Note, not at all.  Fifties: the new twenties?

But, I do not expect to see (at least soon) a $500 Obama (or Bernanke, whoever) anytime soon, "money laundering" and all...

EDIT:

I also have NO PROBLEM exchanging fifties for Peruvian Soles when I go down there.

Sat, 10/20/2012 - 11:55 | 2906392 Caviar Emptor
Caviar Emptor's picture

If inflation goes hyper-, that $50 won't buy you a soda. What the Fed needs is a way to untether consumers from being able to see how much they spend. Going full electronic and taking away cash is the answer. They need you to feel lost in a sea of zeroes so that you'll spend all that you have and borrow more

Sun, 10/21/2012 - 06:42 | 2906826 XitSam
XitSam's picture

Spend sure, but borrow? During hyperinflation? Who would be the lender?

Sat, 10/20/2012 - 11:52 | 2906393 redpill
redpill's picture

Yes I get $50s out of the ATM too, it's annoying.

Sat, 10/20/2012 - 12:32 | 2906437 machineh
machineh's picture

Good on ya ... but I've never gotten anything but twenties from a U.S. ATM.

In normal countries, you can enter an odd withdrawal amount and a get multiple denominations of bills.

But in the U.S., the bank cartel only dispenses twenties. Screw what the muppets want, they'll take what we dole out.

Sat, 10/20/2012 - 14:29 | 2906612 SilverDOG
SilverDOG's picture

I ask for 50's only at the bank as the 50, IS the new 20 do to inflation.

$50 does not buy a bag of groceries, a tank of gas, or dinner out for two.

Keep stacking my friends.

 

Sat, 10/20/2012 - 17:10 | 2906822 cynicalskeptic
cynicalskeptic's picture

CIti dispenses a mix.

Depends on the bank, the locale and wirthdrawl histories.  Affluent places where withdrawls are in large amounts are more likely to have $50 bills along with the $20's.

Sat, 10/20/2012 - 12:05 | 2906405 strayaway
strayaway's picture

quote: "Fifties: the new twenties?"

Fifties should be the new twenties considering that today's fifty has the purchasing power of a 1986 twenty. The odd thing is how fifties are sometimes treated as suspect when the assistant manager has to ok it for the cashier at Walmart. That didn't happen with twenties in 1986.

Sat, 10/20/2012 - 12:38 | 2906445 hoos bin pharteen
hoos bin pharteen's picture

Next step will be the $25 bill.  $50 as the new $20 would cause fingers to point even more at the Fed. 

Sat, 10/20/2012 - 13:26 | 2906522 Fukushima Sam
Fukushima Sam's picture

When I horde cash, I horde $20s!

Sat, 10/20/2012 - 15:10 | 2906665 DoChenRollingBearing
DoChenRollingBearing's picture

Wow, look at that!  A serial junker got us all!

Sat, 10/20/2012 - 21:45 | 2907196 aerojet
aerojet's picture

I'm fine with this except that whenever I pay for anything with a $50 or a $100, the person taking my money treats me like a fucking crook!  Come on--the god damn change in my pocket is worthless, the $20 is the new $5, but somehow using currency denominations that are actually useful have the stink of drug dealer or counterfeiter. 

Sat, 10/20/2012 - 11:22 | 2906322 Lost Wages
Lost Wages's picture

It's all about the Grovers.

Sat, 10/20/2012 - 11:23 | 2906324 StormShadow
StormShadow's picture

Red Rover, Red Rover, send Grover right over!

Sat, 10/20/2012 - 11:23 | 2906325 hairball48
Sat, 10/20/2012 - 11:32 | 2906331 DanDaley
DanDaley's picture

Where's the chart for North Korea's production of 100-dollar bills?

Sat, 10/20/2012 - 11:25 | 2906332 toomanyfakecons...
toomanyfakeconservatives's picture

I'm with the tin foil hat people on a different point, I don't believe 2011 and 2012 $100 bills exist until I see them in circulation.

Sat, 10/20/2012 - 11:26 | 2906337 francis_sawyer
francis_sawyer's picture

They got pinched on a tarmac in Philly...

Sat, 10/20/2012 - 15:09 | 2906664 jonytk
jonytk's picture

of course they exist, how do you think they pay for to their oil overlords in the middle east?.

Sat, 10/20/2012 - 11:25 | 2906334 Dr. No
Dr. No's picture

Their goal is to make it inconvienient to use cash.  How many time have you needed a $10, when you only had $20s?  Couldnt make change?  Use plastic.  They are purposefully making it difficult to use cash.  I am convienced they keep the $1 around since it is not easy to carry around $20 bucks worth of $1s.  They are trying to create a culture of cash is bad and where traceable plastic is good.

Sat, 10/20/2012 - 11:30 | 2906346 thomasincincy
thomasincincy's picture

 fyi... the "latino population" do not use checking accounts and neither does the hood

Sat, 10/20/2012 - 15:27 | 2906676 Revert_Back_to_...
Revert_Back_to_1792_Act's picture

You are supposed to use the PC term...

they are Unbanked or Underbanked.

http://en.wikipedia.org/wiki/Unbanked

Most of the people after the great depression bank failures might have used the term "Prudent".

they were recently having an "education program" to reach these people in the community where I live.

I had a grandmother that lost her entire life savings during the Great Depression bank failures.

I have also noticed that all Casino's have a "Bank" and I have discovered that Pawn Shops where you

"Pledge" something of value are one of the oldest forms of Banking.

 

Sat, 10/20/2012 - 11:44 | 2906376 thomasincincy
thomasincincy's picture

dem mexicans got a nice little black market going too

Sat, 10/20/2012 - 12:48 | 2906458 DosZap
DosZap's picture

I pay cash for everything I buy,except gas.And large purchases.

Always carry a min of $500.00 on me.And my ATM only dumps $20.00's.

With a $500.00 limit, I had a $1,000.00 limit, but the bank stopped that policy  a few years back, without advising anyone.

Sun, 10/21/2012 - 00:39 | 2907341 Angus McHugepenis
Angus McHugepenis's picture

Ever since the Canadian gov't recently created plastic money the ATMs are pumping out $100's and $50's in much greater numbers than the current "paper" $20's. But the plastic $20's are coming soon also. The moment I see the $100 bill in my pocket I race over to my sliver dealer and dispense it on him.

One thing is for sure for me. If the Shit Does Hit The Fan I can tell all you paper fiat horders right now that I will NOT accept your paper garbage in trade. Gold, silver, food... let's talk.

Sat, 10/20/2012 - 13:45 | 2906548 JuliaS
JuliaS's picture

Nobody is making cash inconvenient. It's always been that way. Managing change and carrying different denominations around is the price you pay for privacy and the lack of transaction fees. Getting robbed is a potential risk, but the magnitude and frequency is different compared to electronic banking. At least you get to pick which valley to walk at night.

Convenience has a long term cost, like cheap goods at WalMart. The choice is yours... as well as the consequences.

Sat, 10/20/2012 - 21:46 | 2907197 aerojet
aerojet's picture

I disagree--see my post above.  Anytime I pay with a $50 or a $100 there is obligatory pen-test and look of suspicion.

Sun, 10/21/2012 - 14:51 | 2908066 JuliaS
JuliaS's picture

As if you don't treat money with suspicion. Questioning integrity of money is natural. With gold that's true especially.

What I do what to agree on is that authorities tend to treat large amounts of money on hand as suspicious, as if there's some unspoken limit to how much one is allowed to have in possession. But I'm sure, they'd do the same with large quantities of just about anything. I don't think it's a monetary arrtibute. The crooks are looking for valuables to steal and any excuse is good enough in their book.

I was once detained by the TSA for having too little luggage for a lengthy trip. "Now that's new", I thought. I asked how much luggage they thought was appropriate. All I got in response was some uneducated power-tripping guard chewing gum in my face for half an hour.

Sat, 10/20/2012 - 11:25 | 2906336 phat ho
phat ho's picture

soon it will be all about the Yuan's

Sat, 10/20/2012 - 12:34 | 2906439 onebir
onebir's picture

Biggest yuan note is RMB100 (the red Mao-face one) = $16.

 

They go mouldy if you leave them in a drawer over the summer anywhere south of the Yangtse :p Never understood how the 'other money' isn't all mouldy...

Sat, 10/20/2012 - 11:28 | 2906342 chunga
chunga's picture

Hey brother, can you spare a fifty...

Sat, 10/20/2012 - 11:30 | 2906344 VelvetHog
VelvetHog's picture

Grover and all the other Muppets approve this message.

Sat, 10/20/2012 - 11:31 | 2906349 francis_sawyer
francis_sawyer's picture

THIS NOTE IS LEGAL TENDER FOR ALL DEBTS PUBLIC AND PRIVATE AND IS REDEEMABLE IN LAWFUL MONEY AT THE UNITED STATES TREASURY OR AT ANY FEDERAL RESERVE BANK

~~~

http://www.youtube.com/watch?v=e5Cp6Me26JA

Sat, 10/20/2012 - 11:32 | 2906351 phat ho
phat ho's picture

what was it? Salmon P. Chase on the 5K, McKinley on the $500

Sat, 10/20/2012 - 11:36 | 2906355 francis_sawyer
francis_sawyer's picture

They reserved the TOP SPOT ($100,000) for good ol Woody Wilson... The SOB who signed off on traveling down this path to slavery & bondage (to... ummm... nevermind)...

Sat, 10/20/2012 - 11:47 | 2906382 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1, no, Hell, make that + $55,000

 

Nice comment, for excellent historical information.  Woodrow Wilson!  But, his ideological heirs would NEVER allow for a $100,000 FRN now, too much wealth easy to conceal and move...

$100,000...  In one lil ol piece of paper, we could buy 1/2 a containerload of yummy Korean bearings...  And that's JUST the kind of thing that would happen if they ever print FRNs of (real, no-inflated) high value.

Sat, 10/20/2012 - 11:39 | 2906367 Offthebeach
Offthebeach's picture

The Hundred is the new Twenty.

One dollar wont buy you what a nickle did.

The old phrase, "Not on my dime". So quaint, both for long gone thrift, that a dime was something worth defending, saving, but it actually bought a real egg, toast and coffee on china breakfast. Now that is 5$-10$.

Sat, 10/20/2012 - 11:45 | 2906377 LawsofPhysics
LawsofPhysics's picture

So no inflation then, especially with everything requiring at least a $100 bill? FAIL

Sat, 10/20/2012 - 11:46 | 2906380 Drag Racer
Drag Racer's picture

what about pennies?

Sat, 10/20/2012 - 11:49 | 2906386 DoChenRollingBearing
DoChenRollingBearing's picture

Pre-1982 pennies are now worth about 3 cents (metal value), I save those when I get them in my change.  Nickels too.

Sat, 10/20/2012 - 11:59 | 2906398 The Shootist
The Shootist's picture

What about half cent, 2 cent, and 3 cent pieces?

Sat, 10/20/2012 - 12:36 | 2906443 machineh
machineh's picture

You mean the Obama coins? ;-)

Sat, 10/20/2012 - 13:50 | 2906559 JuliaS
JuliaS's picture

Canada has phased out its pennies completely this year. Some are still being used though. Get a full jar and hide them somewhere. In a few decades they'll probably pay for your retirement.

Speaking of pennies and them costing more to mint than the face value - doesn't the government get to melt them down eventually and collect profit? If they do, then it hasn't been a loss, has it?

Sat, 10/20/2012 - 14:03 | 2906576 GrinandBearit
GrinandBearit's picture

As of Friday's metals closing price, a pre-1982 penny is worth 02.3 cents.

I'm one of those crazy Cu penny hoarders... Nickels too.

Sun, 10/21/2012 - 00:22 | 2907313 Angus McHugepenis
Angus McHugepenis's picture

Pre-1996 Canadian pennies also. Can't remember when the nickels got debased, and I'm too lazy to look it up on coinflation.

Sat, 10/20/2012 - 13:02 | 2906487 q99x2
q99x2's picture

Keep the change.

Sat, 10/20/2012 - 13:51 | 2906561 JuliaS
JuliaS's picture

Sounds like Obama's re-election slogan.

Sat, 10/20/2012 - 11:47 | 2906383 Atomizer
Atomizer's picture

 

 

When all else fails, create your own supply & demand scarcity. 

 

Virtual Money Museum

http://www.chicagofed.org/webpages/education/money_museum/virtual_money_museum.cfm 

Someone needed to insure/write-off 2010 blunder. 

Sat, 10/20/2012 - 12:09 | 2906416 toomanyfakecons...
toomanyfakeconservatives's picture

Those stories are BS. The printing presses have been melted down in the fires of Mt. Doom and no new $100s will make it into circulation.

Sat, 10/20/2012 - 12:16 | 2906422 Dr. No
Dr. No's picture

But the hearts of men are easily corrupted...

Sat, 10/20/2012 - 12:35 | 2906441 icanhasbailout
icanhasbailout's picture

One does not simply quantitative ease into Mordor.

Sat, 10/20/2012 - 12:45 | 2906453 Atomizer
Atomizer's picture

Sarcasm back..

 

Yes, you’re absolutely correct in pinning this as fake news. 

U.S. Government Unveils New Design for the $100 Note

http://www.federalreserve.gov/newsevents/press/other/20100421a.htm 

More than 1 billion 100 dollar bills have been quarantined | 7 Dec 2010

 

Laundering fucked up US currency money by claiming a robbery has never become easier. Too bad the serial numbers will hint the truth of an isolated FED printing error.  

Sat, 10/20/2012 - 11:51 | 2906388 muppet_master
muppet_master's picture

ZH

good question...Grover Cleveland ($1000 bill)..when???when gold @ 9k+...BUT FIRST gold to sub $300 = me cover all my GLD shorts and SPY shorts and BUY the PHYSICAL stuff you can touch...but need to be careful buying authentic non-fake russian and/or chinese junk.

i don't care a rat's azz what some freaking "strategist" says ..=marc faber...when @ 1800 after tanking from 1900 he said "don't panic"...well now @ $1724 after Fri's -1.2% and what does the "strategist" say? he says "trend for gold prices will be steady"?? STEADILY DOWN TO $300 biatch !!

http://www.marcfaberchannel.blogspot.com/2012/10/the-trend-for-gold-prices-will-be-steady.html

 

 

Sat, 10/20/2012 - 12:15 | 2906419 Bay of Pigs
Bay of Pigs's picture

Finish the quote you stupid asshole...

"but the trend for the dollar and other currencies will be down. In other words, in dollar terms the price of gold will trend higher. How high it will go? You have to call Mr Bernanke."

 

Sat, 10/20/2012 - 12:48 | 2906459 ebworthen
ebworthen's picture

Your time horizon is too short, or volatile.

What, do you wish you had bought Chipotle? 

Sat, 10/20/2012 - 11:55 | 2906394 “Rebellion to t...
“Rebellion to tyranny is obedience to God.”-ThomasJefferson's picture

Tell that f'ing asshole Timmah to get back to work and start printing 1 million, 10 million, and 1 billion dollar notes.

That way we won't have to worry about savings acoounts being requisitioned by scum bags like Jamie D. We may just carry larger notes in our wallets; or bury them in coffee cans in the back yard.

Sat, 10/20/2012 - 12:09 | 2906414 thomasincincy
thomasincincy's picture

"Mexican Store"

Have any of you seen something like this in your neck of the woods?

It doesn't look like much on the outside... The one I have seen is a bakery, grocery, bar, restaurant, butcher, clothing store and money center wrapped up into a few thousand square feet. These people are loyal too.

Dunkin Donuts, Kroger, Chi Chi's and Goldman Sachs ain't got nothing on these people

Sat, 10/20/2012 - 12:58 | 2906473 DosZap
DosZap's picture

If your a Starbucks Ho, you need a $20.00 for a large Frap.

Sat, 10/20/2012 - 14:17 | 2906603 perelmanfan
perelmanfan's picture

We have them in Phoenix - great food, nice people. Check out La Tolteca on 11th st and Van Buren; an amazing tamale meal for 6$

Sat, 10/20/2012 - 14:26 | 2906611 thomasincincy
thomasincincy's picture

Torta <-- pretty good. it's almost like a philly cheese steak

The store was very interesting. The mexicans sure do like their cowboys boots and bright colors. festive

Sat, 10/20/2012 - 12:32 | 2906418 Monedas
Monedas's picture

'Bout time we see a Negro on a coin ?      Monedas is not a raciss, per se .... he's an (ein) anti-race hustling pimper !  

Sat, 10/20/2012 - 12:48 | 2906462 ebworthen
ebworthen's picture

I vote George Washington Carver.

Sat, 10/20/2012 - 12:15 | 2906420 Belrev
Belrev's picture

Obviously they are printing $100 bills instead of lower denominations. However, what happens to retail commerce when there is a shortage of bills to give change? If the Fed could so easily print money as many beleive why is it joggling between different bill denominations? What are the Govt's actual physical capabilities for printing money?

Sat, 10/20/2012 - 12:42 | 2906433 toomanyfakecons...
toomanyfakeconservatives's picture

The rumor on the street is the printing presses (at least the $100s) have been melted in the fires of Mt. Doom by the forces of good. When the 100+ nation BRICs alliance finally drops the hammer on the U.S. Dollar aka Federal Reserve Note, you can kiss this charade goodbye. **When the U.S. dollar is dropped for international trade and international settlements, the jig is up.** Much of the outside world wants it's stolen gold back from the FED and BIS. Multi-trillion dollar liens against the FED and BIS are pending in the international court at the Hague!

 

'Tis the season for Monetary Treason':

http://sirratatap.com/?s=liens

Sat, 10/20/2012 - 17:37 | 2906861 The Continental
The Continental's picture

Fulford is frickin' nuts: the Vatican is in regular contact with aliens? The "Romans" should return the menorrah they took from the temple and there will be world peace?

 

This guy is a loon.

 

LOL LOL LOL LOL LOL

Sat, 10/20/2012 - 12:38 | 2906447 itchy166
itchy166's picture

When retailers cant give change, we move to electronic (traceable) exchange.  That's the end goal anyway...

It wont matter what that physical capability is.

Sat, 10/20/2012 - 12:46 | 2906454 ebworthen
ebworthen's picture

They don't want to print it, they want everyone using their debit card or smartphone so they can track and tax every last cent.

It's about control, not people making their own decisions.

Sat, 10/20/2012 - 13:02 | 2906485 DosZap
DosZap's picture

They don't want to print it, they want everyone using their debit card or smartphone so they can track and tax every last cent.

It's about control, not people making their own decisions

 

That's why you pay cash

Sat, 10/20/2012 - 12:18 | 2906425 toomanyfakecons...
toomanyfakeconservatives's picture

Why do the charts stop at 2010 when it is nearly 2013? The only bill that hasn't been circulated is the 2011 and 2012 $100 bill. Riddle me that.

Sat, 10/20/2012 - 12:35 | 2906436 ebworthen
ebworthen's picture

By design.

We are being programmed to go all digital.

Part of behavioral conditioning; remove the tactile objects slowly.

Condition people to perceive plastic as valuable as metal, paper as "old fashioned" and a battery driven 1-2 year lifespan Chinese made gizmo as "cool".

Track every single digital cent so it can be taxed and economists can produce more theory and statistical models to attempt to centrally control the Planet of the Apes.

Sat, 10/20/2012 - 12:41 | 2906448 Monedas
Monedas's picture

I use my debit card for the tiniest of purchases .... to not generate pocket change .... 11 cents in Office Depot to make a copy .... $1.61 for a bag of ice !

Sat, 10/20/2012 - 13:01 | 2906478 DosZap
DosZap's picture

I use my debit card for the tiniest of purchases .... to not generate pocket change .... 11 cents in Office Depot to make a copy .... $1.61 for a bag of ice !

So your one of the assholeeees who slow the lines!!!!!!.LOL

Women are the worst, they will never carry cash, and write checks for $2.00.

Sun, 10/21/2012 - 00:10 | 2907303 Angus McHugepenis
Angus McHugepenis's picture

Agreed. My balls get twitchy when I venture out during the Xmas gift buying season and the sheeple are crashing the Visa/MC/Amex systems at the store. Meanwhile, I'm standing with a wad of cash to pay for my non-gift giving items that I personally require while the store management freaks out over the system crash. Once I realize what happened, I simple leave the items on the floor and walk out.

Back in June I made the idiotic mistake of trying to do some grocery shopping on a Sunday afternoon at one of those mega-food warehouses. Guess what happened... the credit/debit card payment system crashed for 30 minutes while I was in the store. They even announced it over the PA system but it didn't matter to me because I use cash.

So I've got about $300 worth of grocerys in my cart and I'm done. I start wadling my fat ass towards the front of the store only to be greeted by mega lineups at all 25 check out lanes. The smell of desperation was in the air! And it wasn't me. All those hundreds of people lined up with their carts full... and no cash to pay for it. You could smell the meat starting to rot in their carts (sarc).

My idea of a quiet Sunday is not to stand in line for another hour while they sort this shit out. I abandoned my cart where I stood and walked out. They had no "cash only" designated check out.

Sat, 10/20/2012 - 12:47 | 2906457 Dre4dwolf
Dre4dwolf's picture

I never have change to play poker, its getting annoying actually, always have to play for 100$ pots.

Sat, 10/20/2012 - 13:04 | 2906488 natty light
natty light's picture

How long before we start seeing Woodrow Wilson?

http://www.marshu.com/articles/images-website/articles/presidents-on-us-...

Sat, 10/20/2012 - 13:11 | 2906500 Bear
Bear's picture

Problably a long time since he is backed by gold

Sat, 10/20/2012 - 13:07 | 2906492 realtick
realtick's picture

The Most Undervalued Asset In The World: The US Dollar http://chartistfriendfrompittsburgh.blogspot.com/2012/10/the-most-underv...

Sat, 10/20/2012 - 13:07 | 2906495 Bear
Bear's picture

It is just so much easier to make BILLions with a few key strokes ... why print when you can tap your way to oblivion.

Sat, 10/20/2012 - 13:37 | 2906540 Atomizer
Atomizer's picture

Multiple merchants use this device in Marco Island.

 

ttp://www.nashua.com/ESol/NashuaCom/CIS_ProductList.aspx?Selected=ESol

 

Nashua Counterfeit Detection System

 

So far, my bank issued fractional reserve debt note have passed with flying colors. I might create a form for the banking clerk to sign-off on. This way, if a counterfeit bill ends up in my hands, the bank will bear responsibility.

Sat, 10/20/2012 - 13:56 | 2906569 dark pools of soros
dark pools of soros's picture

... So Benny will be the last one able to make it rain in strip clubs soon??

Sat, 10/20/2012 - 14:04 | 2906579 Bobportlandor
Bobportlandor's picture

So it's completely obvious we need to go back to a cash system and 45s and LPs. Along with no Note larger then $100

Then all budgets and copying would be under control.

It would be impossible to print and transport all the money required.

Sat, 10/20/2012 - 14:06 | 2906591 buzzsaw99
buzzsaw99's picture

I suspect scumbaggery.

Sat, 10/20/2012 - 14:11 | 2906597 Boxed Merlot
Boxed Merlot's picture

"Government is the only agency that can take a valuable commodity like paper, slap some ink on it, and make it totally worthless" Ludwig von Mises.

And if you look closey at the legal tender verbage on the illustrated note it reads:

"This Note Is Legal Tender For All Debts Public And Private And Is Redeemable In Lawful Money At The United States Treasury Or At Any Federal Reserve Bank".

In 1934, Gold was no longer "lawful money". In fact, this note was "redeemable" in another note just like it, or 10 "$100s", or 50 "$20s", or 1000 "$1s" - you get the picture.

A History Of U.S. Paper Money ©2001 The Privateer Market Letter    

Sat, 10/20/2012 - 15:01 | 2906613 Contrary Casanova
Contrary Casanova's picture

This is an interesting point of view, but in my opinion is not entirely correct. Yes, there is less printing of paper money. There may be another reason for this. Currently the Fed is printing new bills. They are going to be issued in 2013. The Fed is not printing our paper money or, at most, they are only printing enough for circulation. If you have been reading Zero hedge and staying informed, as this writer may not be a reader, you would know this as well as many other entertaining and interesting topics. We have many problems in America, but printing money isn't one of them.  Oh and I shouldn't forget to mention, so many of you that leave comments on here are very uninformed  aka "bonebrains".

Sat, 10/20/2012 - 14:33 | 2906619 debtor of last ...
debtor of last resort's picture

How about a 100 trillion dollar bill with Krugman's face on it? Or the "Bernank Bill" where you can fill in de zero's yourself?

Sat, 10/20/2012 - 14:42 | 2906628 Bagbalm
Bagbalm's picture

Ask yourself if they are printing as much as they have capacity and have to choose what to run. Also changing over plates reduces output so they likely want to run them a long time.

Sat, 10/20/2012 - 15:39 | 2906696 neutrinoman
neutrinoman's picture

It really is all about the Benjamins, it seems. (Click link if you can't see the image.)

http://www.thenader.com/wp-content/uploads/2012/01/100-Dollar-Bill1.jpg

And ZH'ers will want to see: http://www.vbulletin.org/forum/showthread.php?t=282758

Sat, 10/20/2012 - 16:05 | 2906723 robertocarlos
robertocarlos's picture

The US should print 1000 dollar bills with "Grover" on them.

Sat, 10/20/2012 - 16:28 | 2906762 Bugsquasher
Bugsquasher's picture

Sorry but I don't think we will ever see the likes of Grover again.  They will ban all cash transactions above a few hundred dollars to make sure the banks keep getting a cut of the action on everything.

Sat, 10/20/2012 - 16:45 | 2906788 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Salmon P. Chase baby, pilgrim's pride. That's some serious cash !

On a side note, I remember a great scene from Wim Wenders' film Until the End of the World. Excellent sound track. Set in the "future" which has already past (1999), a couple on the run try to pay cash for a car at a dodgy junkyard / used car lot. The owner keeps the cash and chases them away with a gun, nearly foaming at the mouth that they were trying to get him into real trouble by accepting cash. 

Big bro is much happier tracking you, marketing to you, propagandizing you, all in the comfort of your very own home.

Sun, 10/21/2012 - 00:06 | 2907298 MichaelNY
MichaelNY's picture

When is a real $100 bill illegal?  When it's one of those allegedly stolen (that's right, I don't believe any of it) bills being delivered from the "new" batch headed for East Rutherford.  Nobody seems to notice though that there are so many discrepancies in the entire story of these "new" bills (printed in 2010) that you could drive an armored truck through them.

We supposedly have printed (or mis-printed) about 1.1 billion of these Benjamins.  No telling how much they'll be worth if and when they are ever actually introduced.  But don't take any wooden nickels...you new bills may be confiscated (though not counterfeit) for being among the "large number" of stolen bills.  Funny what information they leak out, isn't it?

Sun, 10/21/2012 - 04:39 | 2907460 Parrotile
Parrotile's picture

Only a (short) matter of time before ALL "legal currency denominations" become "obsolete" We're very rapidly moving to an era where the humble Credit / Debit Card is feeling left behind by the Smartphone generation.

In Australia ALL Govt. Agencies pay their staff by Direct Credit Transfer - i.e., no cash, just credit into your Bank Account (and Down Under the Banks CHARGE you to maintain your account - no free banking for us proles here you know). So, the Govt. taxes you on what you earn, the Banks "tax" you on leaving your money with them (so they can earn interest on overnight deposit rates too . . . ), and EVERYONE can trace your spending habits, since getting hold of cash means using either a Bank ATM (traceable transaction) of using the retail "cashback" system (just as traceable).

Then just wonder how long before the Smartphone is replaced by an implanted "smart chip" - which will be touted as "robbery-proof". That is until the wildlife start carrying DIY Surgical equipment. . . . .

 

Sun, 10/21/2012 - 21:18 | 2908676 Tim Brasco
Tim Brasco's picture

Volatility Is Entering The Lower Level Stocks, Here Is a Stock That Was Just Approved For Training International Pilots At There Flight School. They Are Going From No Revs To $980,000 In revs within the next 30 days. With a current float of less than 5 million shares this is going to really be a mover.  Right now sitting at the 52 week low around a penny the new valuation will place them undervalued by roughly 4,000% +.  Last time on just news of them applying the stock ran close to 600%. Monday and Tuesday trading day there should be upwards of those gains and potentially even more.  Here is a great Ceo interview and research report that came out just today! The community is buzzing over this stock! Opportunity is all over the market, you just need to know where to look! This group provides full transparent and is up 2,033% for the year. Watch Tomorrow  http://www.stocklegends.com/quasar-qasp/

Tue, 12/04/2012 - 12:11 | 3032582 Shizzmoney
Shizzmoney's picture

There was a report that if we eliminated making $1 bills and replaced them with coins, we'd save $4 billion. 

Which means of course, the govt wouldn't do that. 

Litte fact: The factory paper the bills are printed on is actually procured in Dalton, MA. 

So I'm sure they are not liking this news.

Fri, 12/28/2012 - 01:53 | 3100986 MeelionDollerBogus
MeelionDollerBogus's picture

Actually real $1 US mint coins are rejected by people because they don't know it's real money. It is real. It is currency. It's not silver or gold (real) money but it's legal tender.

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