My idea for US currency reform

[kalvado]

Weren't the larger bills above $100 (such as $500, $1,000, etc.) also used primarily to help transfer cash between banks, and not necessarily mean for public use despite technically being legal tender?

That's for really high value bills. 100k was the biggest one for that, I believe.

[Scott5114]

The $100,000 was used for transfers between Federal Reserve Banks and were never released to the public. (The Federal Reserve had a whole set of bills used just for this. The backs were printed in orange instead of green ink.)

The $10,000 was the largest released to the general public.

[kphoger]

Another legitimate reason for $500 bills other than those mentioned above is casino payouts—if someone wins, say, $4875 (a common payout amount), having that in $500 bills is a lot better for the casino (someone putting a $500 bill into a machine is five times better than someone putting a $100 into it) and the patron (48 bills is clunky).

I'd rather have 48 bills that I could actually spend somewhere, than 9 bills that I couldn't.

[hotdogPi]

I pay pretty much everything with cash, with two exceptions:

1. Impossible, like Uber rides or my student loans. (Student loans use account number and routing number to avoid credit card fees.)
2. Several hundred or higher. For example, when I get a new MacBook Pro or iPhone (only when my old one dies, I'm not one to replace frequently), I use my card for that.

I regularly go to the bank in-person to withdraw $400, or if I know I'm making a large purchase immediately after, $500 or $600. I typically get the following:

• If I'm making a $100+ payment soon, one $100. For example, all you can eat sushi for three people and my choir semester fee are both between $100 and $200.
• 2 $50s, 3 if I know I'll be spending one the same day, such as on groceries
• About 7 $20s
• About 9 $10s
• About 9 $5s. These three vary slightly based on how many of each are currently in my wallet.
• 25 $1s. The bank groups bills in stacks of 25, so it's easy for them. I often use them all before having to go to the bank again.
• If I don't have enough, a roll of quarters. I use more quarters than I receive, although I estimate I get a roll maybe once every six months.
• If I don't have any, 5 $2s (if they have any, which they do about 1/4 of the time), a roll of dollar coins, or a roll of half dollars. These are only used for tips at restaurants, and only if the total comes to certain numbers (e.g. the total post-tip has to end in 2 or 7 for me to use a $2).

Interestingly, one time I was at the sushi place, someone nearby noticed my mom's car had a paint issue, and he said he would do it for about $475, cash only. I had just stocked up with $600, so I surprisingly had enough.

TL;DR I regularly use $50s, I use $100s for special occasions, and I would have used a $500 or a hypothetical $200 if it existed exactly once.

[SEWIGuy]

I never have cash on me. I use credit cards as much as possible for everything, mostly because the cash doesn't exit my checking account for weeks after the purchase, which gives me plenty of time to plan ahead.

[Rothman]

I also just use my card.  Maybe use cash once a quarter for someone selling stuff off a cart or as gifts, but even then card or Venmo/Paypal options are becoming more common.

I used to collect quarters, but I have so little change nowadays that my collection hasn't grown in years.  My change jar gets fed very rarely...

[SEWIGuy]

I should also say that I get points on my card with every purchase.

I used to get interest payments on my checking account as well, which means I was incentivized to pay my card bill as late as possible, but that's no longer the case.

[Scott5114]

Another legitimate reason for $500 bills other than those mentioned above is casino payouts—if someone wins, say, $4875 (a common payout amount), having that in $500 bills is a lot better for the casino (someone putting a $500 bill into a machine is five times better than someone putting a $100 into it) and the patron (48 bills is clunky).

I'd rather have 48 bills that I could actually spend somewhere, than 9 bills that I couldn't.

Well, sure, and you could always ask for smaller bills for part of the payout. Most people winning a jackpot that big would be gambling part of it and then bringing the rest to their bank the next day, though, so defaulting to the largest bill available was a reasonable assumption.

At one point the casino I worked at tried to enforce the policy that part of each jackpot be paid in slot machine vouchers. That went over about as well as you'd expect.

[Scott5114]

I've been using more cash since I moved to Las Vegas. And—not intending to get political—I've been using even more since the news came out that Elon Musk has access to at least portions of the ACH system. I don't know what he has access to exactly, or whether he'd be interested in my transaction details, but I don't exactly care to give him any more data than he already has.

[Road Hog]

Trying to figure how eliminating pennies and nickels but keeping dimes and quarters would make change easier. The one hole in that theory is if you get 5¢ or 15¢ back in change, that would mean either you or the store are getting shorted. Every other combination involving a 5 or 0 would be covered. Another drawback is who wants to carry a shitload of dimes in their pocket?

[Scott5114]

who wants to carry a shitload of dimes in their pocket?

Someone who has to use the Le Petomane Thruway?

[mgk920]

There is no reason to have bills larger than $100.

Oh, I can think of reasons for it (I remember what a pain it was when I worked at a computer store and someone paid $4600 cash for two laptops), but as a general matter, they're not compelling enough to outweigh the concern about money laundering and the overall decline in the use of cash for large transactions. As to that latter point, I'd suggest that the odds are that the use of cash for large transactions has likely declined to a greater degree than the use of cash for transactions overall. That is, for example, you're probably more likely to see someone pay $50 in cash at the gas station than to see someone pay, say, $3500 cash at the Apple Store to buy that Vision Pro headset. I think the people who make larger transactions are probably highly likely to have and use credit cards on which they have enough available credit or to be able to either write a personal check or get a cashier's check for transactions where credit is not an option (e.g., putting down a large down payment on a car or paying for the car in full).

Yes, the bolded is a much better way to say it than I did.

I also think if we move to a $1 coin, there will be no need for a $2 bill.

We need higher value coins, not just $1, but also a new $2 coin and a re-introduced $5 coin.

Mike

[mgk920]

I pay pretty much everything with cash, with two exceptions:

1. Impossible, like Uber rides or my student loans. (Student loans use account number and routing number to avoid credit card fees.)
2. Several hundred or higher. For example, when I get a new MacBook Pro or iPhone (only when my old one dies, I'm not one to replace frequently), I use my card for that.

I regularly go to the bank in-person to withdraw $400, or if I know I'm making a large purchase immediately after, $500 or $600. I typically get the following:

• If I'm making a $100+ payment soon, one $100. For example, all you can eat sushi for three people and my choir semester fee are both between $100 and $200.
• 2 $50s, 3 if I know I'll be spending one the same day, such as on groceries
• About 7 $20s
• About 9 $10s
• About 9 $5s. These three vary slightly based on how many of each are currently in my wallet.
• 25 $1s. The bank groups bills in stacks of 25, so it's easy for them. I often use them all before having to go to the bank again.
• If I don't have enough, a roll of quarters. I use more quarters than I receive, although I estimate I get a roll maybe once every six months.
• If I don't have any, 5 $2s (if they have any, which they do about 1/4 of the time), a roll of dollar coins, or a roll of half dollars. These are only used for tips at restaurants, and only if the total comes to certain numbers (e.g. the total post-tip has to end in 2 or 7 for me to use a $2).

Interestingly, one time I was at the sushi place, someone nearby noticed my mom's car had a paint issue, and he said he would do it for about $475, cash only. I had just stocked up with $600, so I surprisingly had enough.

TL;DR I regularly use $50s, I use $100s for special occasions, and I would have used a $500 or a hypothetical $200 if it existed exactly once.

We have quite a few * LEGAL * direct immigrants from places where distrust of banks is a very real part of their 'old country' culture.  As such, $50s arenow pretty common everyday items to them.  When they order a delivered supper for the family, EXPECT a $50 as payment.

Mike

Mike

[SEWIGuy]

There is no reason to have bills larger than $100.

Oh, I can think of reasons for it (I remember what a pain it was when I worked at a computer store and someone paid $4600 cash for two laptops), but as a general matter, they're not compelling enough to outweigh the concern about money laundering and the overall decline in the use of cash for large transactions. As to that latter point, I'd suggest that the odds are that the use of cash for large transactions has likely declined to a greater degree than the use of cash for transactions overall. That is, for example, you're probably more likely to see someone pay $50 in cash at the gas station than to see someone pay, say, $3500 cash at the Apple Store to buy that Vision Pro headset. I think the people who make larger transactions are probably highly likely to have and use credit cards on which they have enough available credit or to be able to either write a personal check or get a cashier's check for transactions where credit is not an option (e.g., putting down a large down payment on a car or paying for the car in full).

Yes, the bolded is a much better way to say it than I did.

I also think if we move to a $1 coin, there will be no need for a $2 bill.

We need higher value coins, not just $1, but also a new $2 coin and a re-introduced $5 coin.

Mike

I don't think we need a $2 anything. $1 and $5, whether a bill or coin, is fine.

[SP Cook]

IMHO, after considering the current penny issue.

Coins: Nickle, Dime, Quarter, Half, Dollar, Two Dollar.  $2 to be same size and bimetalic nature as Canadian "two-nie".  Whoever they put on it must have been dead in 1975 to qualify. 

Bills: 5, 10, 20, 50, 100.  Announce that a $250 bill will be issued when the CPI says that $100 now buys what $40 bought in 2025.

Old money:  Simply leave pennies in circulation, it will take a decade or more for there to be a shortage.  Make "Swedish rounding" legal for cash transactions, when that happens, or allow merchants to issue their own plastic tokens or to issue a card with 25 squares on it, 25 punch outs and you get a quarter.   Burn all $1 as they roll through the banks, forcing $1 and $2 coins on people.  Flood the market with 50 cent pieces, combined with a PR campaign that points out they are not collectable.

[Molandfreak]

I pay pretty much everything with cash, with two exceptions:

1. Impossible, like Uber rides or my student loans. (Student loans use account number and routing number to avoid credit card fees.)
2. Several hundred or higher. For example, when I get a new MacBook Pro or iPhone (only when my old one dies, I'm not one to replace frequently), I use my card for that.

I regularly go to the bank in-person to withdraw $400, or if I know I'm making a large purchase immediately after, $500 or $600. I typically get the following:

• If I'm making a $100+ payment soon, one $100. For example, all you can eat sushi for three people and my choir semester fee are both between $100 and $200.
• 2 $50s, 3 if I know I'll be spending one the same day, such as on groceries
• About 7 $20s
• About 9 $10s
• About 9 $5s. These three vary slightly based on how many of each are currently in my wallet.
• 25 $1s. The bank groups bills in stacks of 25, so it's easy for them. I often use them all before having to go to the bank again.
• If I don't have enough, a roll of quarters. I use more quarters than I receive, although I estimate I get a roll maybe once every six months.
• If I don't have any, 5 $2s (if they have any, which they do about 1/4 of the time), a roll of dollar coins, or a roll of half dollars. These are only used for tips at restaurants, and only if the total comes to certain numbers (e.g. the total post-tip has to end in 2 or 7 for me to use a $2).

Interestingly, one time I was at the sushi place, someone nearby noticed my mom's car had a paint issue, and he said he would do it for about $475, cash only. I had just stocked up with $600, so I surprisingly had enough.

TL;DR I regularly use $50s, I use $100s for special occasions, and I would have used a $500 or a hypothetical $200 if it existed exactly once.

We have quite a few * LEGAL * direct immigrants from places where distrust of banks is a very real part of their 'old country' culture.  As such, $50s arenow pretty common everyday items to them.  When they order a delivered supper for the family, EXPECT a $50 as payment.

Mike

Mike

Specifying their immigration status is completely unnecessary.

[kalvado]

I pay pretty much everything with cash, with two exceptions:

1. Impossible, like Uber rides or my student loans. (Student loans use account number and routing number to avoid credit card fees.)
2. Several hundred or higher. For example, when I get a new MacBook Pro or iPhone (only when my old one dies, I'm not one to replace frequently), I use my card for that.

I regularly go to the bank in-person to withdraw $400, or if I know I'm making a large purchase immediately after, $500 or $600. I typically get the following:

• If I'm making a $100+ payment soon, one $100. For example, all you can eat sushi for three people and my choir semester fee are both between $100 and $200.
• 2 $50s, 3 if I know I'll be spending one the same day, such as on groceries
• About 7 $20s
• About 9 $10s
• About 9 $5s. These three vary slightly based on how many of each are currently in my wallet.
• 25 $1s. The bank groups bills in stacks of 25, so it's easy for them. I often use them all before having to go to the bank again.
• If I don't have enough, a roll of quarters. I use more quarters than I receive, although I estimate I get a roll maybe once every six months.
• If I don't have any, 5 $2s (if they have any, which they do about 1/4 of the time), a roll of dollar coins, or a roll of half dollars. These are only used for tips at restaurants, and only if the total comes to certain numbers (e.g. the total post-tip has to end in 2 or 7 for me to use a $2).

Interestingly, one time I was at the sushi place, someone nearby noticed my mom's car had a paint issue, and he said he would do it for about $475, cash only. I had just stocked up with $600, so I surprisingly had enough.

TL;DR I regularly use $50s, I use $100s for special occasions, and I would have used a $500 or a hypothetical $200 if it existed exactly once.

We have quite a few * LEGAL * direct immigrants from places where distrust of banks is a very real part of their 'old country' culture.  As such, $50s arenow pretty common everyday items to them.  When they order a delivered supper for the family, EXPECT a $50 as payment.

Mike

Mike

Specifying their immigration status is completely unnecessary.

It is, because banking system is different in different countries, so is trust to that system. Same can be told about political, law enforcement, etc.
So people who grew in a different country can, and will, view things differently than even those who do not share common perception yet grew up within the same system.

[Molandfreak]

I pay pretty much everything with cash, with two exceptions:

1. Impossible, like Uber rides or my student loans. (Student loans use account number and routing number to avoid credit card fees.)
2. Several hundred or higher. For example, when I get a new MacBook Pro or iPhone (only when my old one dies, I'm not one to replace frequently), I use my card for that.

I regularly go to the bank in-person to withdraw $400, or if I know I'm making a large purchase immediately after, $500 or $600. I typically get the following:

• If I'm making a $100+ payment soon, one $100. For example, all you can eat sushi for three people and my choir semester fee are both between $100 and $200.
• 2 $50s, 3 if I know I'll be spending one the same day, such as on groceries
• About 7 $20s
• About 9 $10s
• About 9 $5s. These three vary slightly based on how many of each are currently in my wallet.
• 25 $1s. The bank groups bills in stacks of 25, so it's easy for them. I often use them all before having to go to the bank again.
• If I don't have enough, a roll of quarters. I use more quarters than I receive, although I estimate I get a roll maybe once every six months.
• If I don't have any, 5 $2s (if they have any, which they do about 1/4 of the time), a roll of dollar coins, or a roll of half dollars. These are only used for tips at restaurants, and only if the total comes to certain numbers (e.g. the total post-tip has to end in 2 or 7 for me to use a $2).

Interestingly, one time I was at the sushi place, someone nearby noticed my mom's car had a paint issue, and he said he would do it for about $475, cash only. I had just stocked up with $600, so I surprisingly had enough.

TL;DR I regularly use $50s, I use $100s for special occasions, and I would have used a $500 or a hypothetical $200 if it existed exactly once.

We have quite a few * LEGAL * direct immigrants from places where distrust of banks is a very real part of their 'old country' culture.  As such, $50s arenow pretty common everyday items to them.  When they order a delivered supper for the family, EXPECT a $50 as payment.

Mike

Mike

Specifying their immigration status is completely unnecessary.

It is, because banking system is different in different countries, so is trust to that system. Same can be told about political, law enforcement, etc.
So people who grew in a different country can, and will, view things differently than even those who do not share common perception yet grew up within the same system.

You're missing the point. Whether the immigrants mgk is referring to came here legally or not changes nothing about the point being made. Why did that need to be specified?

[kalvado]

I pay pretty much everything with cash, with two exceptions:

1. Impossible, like Uber rides or my student loans. (Student loans use account number and routing number to avoid credit card fees.)
2. Several hundred or higher. For example, when I get a new MacBook Pro or iPhone (only when my old one dies, I'm not one to replace frequently), I use my card for that.

I regularly go to the bank in-person to withdraw $400, or if I know I'm making a large purchase immediately after, $500 or $600. I typically get the following:

• If I'm making a $100+ payment soon, one $100. For example, all you can eat sushi for three people and my choir semester fee are both between $100 and $200.
• 2 $50s, 3 if I know I'll be spending one the same day, such as on groceries
• About 7 $20s
• About 9 $10s
• About 9 $5s. These three vary slightly based on how many of each are currently in my wallet.
• 25 $1s. The bank groups bills in stacks of 25, so it's easy for them. I often use them all before having to go to the bank again.
• If I don't have enough, a roll of quarters. I use more quarters than I receive, although I estimate I get a roll maybe once every six months.
• If I don't have any, 5 $2s (if they have any, which they do about 1/4 of the time), a roll of dollar coins, or a roll of half dollars. These are only used for tips at restaurants, and only if the total comes to certain numbers (e.g. the total post-tip has to end in 2 or 7 for me to use a $2).

Interestingly, one time I was at the sushi place, someone nearby noticed my mom's car had a paint issue, and he said he would do it for about $475, cash only. I had just stocked up with $600, so I surprisingly had enough.

TL;DR I regularly use $50s, I use $100s for special occasions, and I would have used a $500 or a hypothetical $200 if it existed exactly once.

We have quite a few * LEGAL * direct immigrants from places where distrust of banks is a very real part of their 'old country' culture.  As such, $50s arenow pretty common everyday items to them.  When they order a delivered supper for the family, EXPECT a $50 as payment.

Mike

Mike

Specifying their immigration status is completely unnecessary.

It is, because banking system is different in different countries, so is trust to that system. Same can be told about political, law enforcement, etc.
So people who grew in a different country can, and will, view things differently than even those who do not share common perception yet grew up within the same system.

You're missing the point. Whether the immigrants mgk is referring to came here legally or not changes nothing about the point being made. Why did that need to be specified?

Because someone without solid legal standing will have problems with bank system - starting from SSN and credit check while opening an account.
Immigrant with proper paperwork can get a real SSN, pass all checks and get a fully legal account in most banks (BoA may be different, but whatever). But that may not be enough to overcome some previous mistrust to the system.

[Molandfreak]

I pay pretty much everything with cash, with two exceptions:

1. Impossible, like Uber rides or my student loans. (Student loans use account number and routing number to avoid credit card fees.)
2. Several hundred or higher. For example, when I get a new MacBook Pro or iPhone (only when my old one dies, I'm not one to replace frequently), I use my card for that.

I regularly go to the bank in-person to withdraw $400, or if I know I'm making a large purchase immediately after, $500 or $600. I typically get the following:

• If I'm making a $100+ payment soon, one $100. For example, all you can eat sushi for three people and my choir semester fee are both between $100 and $200.
• 2 $50s, 3 if I know I'll be spending one the same day, such as on groceries
• About 7 $20s
• About 9 $10s
• About 9 $5s. These three vary slightly based on how many of each are currently in my wallet.
• 25 $1s. The bank groups bills in stacks of 25, so it's easy for them. I often use them all before having to go to the bank again.
• If I don't have enough, a roll of quarters. I use more quarters than I receive, although I estimate I get a roll maybe once every six months.
• If I don't have any, 5 $2s (if they have any, which they do about 1/4 of the time), a roll of dollar coins, or a roll of half dollars. These are only used for tips at restaurants, and only if the total comes to certain numbers (e.g. the total post-tip has to end in 2 or 7 for me to use a $2).

Interestingly, one time I was at the sushi place, someone nearby noticed my mom's car had a paint issue, and he said he would do it for about $475, cash only. I had just stocked up with $600, so I surprisingly had enough.

TL;DR I regularly use $50s, I use $100s for special occasions, and I would have used a $500 or a hypothetical $200 if it existed exactly once.

We have quite a few * LEGAL * direct immigrants from places where distrust of banks is a very real part of their 'old country' culture.  As such, $50s arenow pretty common everyday items to them.  When they order a delivered supper for the family, EXPECT a $50 as payment.

Mike

Mike

Specifying their immigration status is completely unnecessary.

It is, because banking system is different in different countries, so is trust to that system. Same can be told about political, law enforcement, etc.
So people who grew in a different country can, and will, view things differently than even those who do not share common perception yet grew up within the same system.

You're missing the point. Whether the immigrants mgk is referring to came here legally or not changes nothing about the point being made. Why did that need to be specified?

Because someone without solid legal standing will have problems with bank system - starting from SSN and credit check while opening an account.
Immigrant with proper paperwork can get a real SSN, pass all checks and get a fully legal account in most banks (BoA may be different, but whatever). But that may not be enough to overcome some previous mistrust to the system.

Yes, but why is the distinction necessary when the point being made is about culture?

[kalvado]

I pay pretty much everything with cash, with two exceptions:

1. Impossible, like Uber rides or my student loans. (Student loans use account number and routing number to avoid credit card fees.)
2. Several hundred or higher. For example, when I get a new MacBook Pro or iPhone (only when my old one dies, I'm not one to replace frequently), I use my card for that.

I regularly go to the bank in-person to withdraw $400, or if I know I'm making a large purchase immediately after, $500 or $600. I typically get the following:

• If I'm making a $100+ payment soon, one $100. For example, all you can eat sushi for three people and my choir semester fee are both between $100 and $200.
• 2 $50s, 3 if I know I'll be spending one the same day, such as on groceries
• About 7 $20s
• About 9 $10s
• About 9 $5s. These three vary slightly based on how many of each are currently in my wallet.
• 25 $1s. The bank groups bills in stacks of 25, so it's easy for them. I often use them all before having to go to the bank again.
• If I don't have enough, a roll of quarters. I use more quarters than I receive, although I estimate I get a roll maybe once every six months.
• If I don't have any, 5 $2s (if they have any, which they do about 1/4 of the time), a roll of dollar coins, or a roll of half dollars. These are only used for tips at restaurants, and only if the total comes to certain numbers (e.g. the total post-tip has to end in 2 or 7 for me to use a $2).

Interestingly, one time I was at the sushi place, someone nearby noticed my mom's car had a paint issue, and he said he would do it for about $475, cash only. I had just stocked up with $600, so I surprisingly had enough.

TL;DR I regularly use $50s, I use $100s for special occasions, and I would have used a $500 or a hypothetical $200 if it existed exactly once.

We have quite a few * LEGAL * direct immigrants from places where distrust of banks is a very real part of their 'old country' culture.  As such, $50s arenow pretty common everyday items to them.  When they order a delivered supper for the family, EXPECT a $50 as payment.

Mike

Mike

Specifying their immigration status is completely unnecessary.

It is, because banking system is different in different countries, so is trust to that system. Same can be told about political, law enforcement, etc.
So people who grew in a different country can, and will, view things differently than even those who do not share common perception yet grew up within the same system.

You're missing the point. Whether the immigrants mgk is referring to came here legally or not changes nothing about the point being made. Why did that need to be specified?

Because someone without solid legal standing will have problems with bank system - starting from SSN and credit check while opening an account.
Immigrant with proper paperwork can get a real SSN, pass all checks and get a fully legal account in most banks (BoA may be different, but whatever). But that may not be enough to overcome some previous mistrust to the system.

Yes, but why is the distinction necessary when the point being made is about culture?

Try to read things again slowly. 8 think it makes perfect sense
While we are at this, may I ask if your are a US citizen by birth?

[Molandfreak]

I pay pretty much everything with cash, with two exceptions:

1. Impossible, like Uber rides or my student loans. (Student loans use account number and routing number to avoid credit card fees.)
2. Several hundred or higher. For example, when I get a new MacBook Pro or iPhone (only when my old one dies, I'm not one to replace frequently), I use my card for that.

I regularly go to the bank in-person to withdraw $400, or if I know I'm making a large purchase immediately after, $500 or $600. I typically get the following:

• If I'm making a $100+ payment soon, one $100. For example, all you can eat sushi for three people and my choir semester fee are both between $100 and $200.
• 2 $50s, 3 if I know I'll be spending one the same day, such as on groceries
• About 7 $20s
• About 9 $10s
• About 9 $5s. These three vary slightly based on how many of each are currently in my wallet.
• 25 $1s. The bank groups bills in stacks of 25, so it's easy for them. I often use them all before having to go to the bank again.
• If I don't have enough, a roll of quarters. I use more quarters than I receive, although I estimate I get a roll maybe once every six months.
• If I don't have any, 5 $2s (if they have any, which they do about 1/4 of the time), a roll of dollar coins, or a roll of half dollars. These are only used for tips at restaurants, and only if the total comes to certain numbers (e.g. the total post-tip has to end in 2 or 7 for me to use a $2).

Interestingly, one time I was at the sushi place, someone nearby noticed my mom's car had a paint issue, and he said he would do it for about $475, cash only. I had just stocked up with $600, so I surprisingly had enough.

TL;DR I regularly use $50s, I use $100s for special occasions, and I would have used a $500 or a hypothetical $200 if it existed exactly once.

We have quite a few * LEGAL * direct immigrants from places where distrust of banks is a very real part of their 'old country' culture.  As such, $50s arenow pretty common everyday items to them.  When they order a delivered supper for the family, EXPECT a $50 as payment.

Mike

Mike

Specifying their immigration status is completely unnecessary.

It is, because banking system is different in different countries, so is trust to that system. Same can be told about political, law enforcement, etc.
So people who grew in a different country can, and will, view things differently than even those who do not share common perception yet grew up within the same system.

You're missing the point. Whether the immigrants mgk is referring to came here legally or not changes nothing about the point being made. Why did that need to be specified?

Because someone without solid legal standing will have problems with bank system - starting from SSN and credit check while opening an account.
Immigrant with proper paperwork can get a real SSN, pass all checks and get a fully legal account in most banks (BoA may be different, but whatever). But that may not be enough to overcome some previous mistrust to the system.

Yes, but why is the distinction necessary when the point being made is about culture?

Try to read things again slowly. 8 think it makes perfect sense
While we are at this, may I ask if your are a US citizen by birth?

Why is such a bold distinction necessary when, as you admitted, it can be assumed that the immigrants are documented based on the fact that they are able to open bank accounts in their name?

If you're implying that I may be an undocumented immigrant myself, go ahead and call ICE on me.

[hotdogPi]

Let's end this discussion and go back to a previous one. mgk920 mentioned a $5 coin. I believe the only countries that have one are Switzerland (5 francs) and Japan (500 yen), and the latter is closer to $4 after a change in exchange rate. Countries with dollars weaker than ours, like Canada, Australia, and New Zealand, do not have anything labeled $5. (I believe Singapore does, but I'm not sure if it's in common use.)

While I'm not entirely opposed to the idea myself, we would definitely be leading rather than following if we introduced a $5 coin.

[Molandfreak]

Let's end this discussion and go back to a previous one. mgk920 mentioned a $5 coin. I believe the only countries that have one are Switzerland (5 francs) and Japan (500 yen), and the latter is closer to $4 after a change in exchange rate. Countries with dollars weaker than ours, like Canada, Australia, and New Zealand, do not have anything labeled $5. (I believe Singapore does, but I'm not sure if it's in common use.)

While I'm not entirely opposed to the idea myself, we would definitely be leading rather than following if we introduced a $5 coin.

It would be re-introducing a coin that actually has a significant amount of purchasing power; 50¢ in 1965 had the same purchasing power as $5 today.

[kalvado]

Let's end this discussion and go back to a previous one. mgk920 mentioned a $5 coin. I believe the only countries that have one are Switzerland (5 francs) and Japan (500 yen), and the latter is closer to $4 after a change in exchange rate. Countries with dollars weaker than ours, like Canada, Australia, and New Zealand, do not have anything labeled $5. (I believe Singapore does, but I'm not sure if it's in common use.)

While I'm not entirely opposed to the idea myself, we would definitely be leading rather than following if we introduced a $5 coin.

May I ask how many people here have a coin compartment in the wallet or otherwise have significant number of coins on them on a regular basis?
I do have some coins in the car for a few parking meters which still take coins and may grab some if going to the dollar store, but otherwise it may be a stray coin or two in a pocket, if that
I don't think introducing coins would go nicely with most people. Moreso if those are higher value ones.