What denominations would YOU want to see?

[AGgressive Metal]

Right now we have the 1, 2, 5, 10, 20, 50, and 100, with 500s & 1000s still floating around but out of print for many decades and the 2 rarely used. And technically fractional banknotes from the Civil War are still legal tender, though they don't fit in vending machines

In your perfect world, Federal Reserve fiat money issues aside, what denominations would you like to see come or go? Would you like to replace the $1 note with coins? Print $500s again? Create a new denomination?

Personally, if there were a denomination higher than 100, I'd like to see it be made of polymer and slightly larger size - you don't want to lose one of those in the laundry machine!

[Cerulean]

Discontinue the cent and nickel.

Keep the dime, but make it bronze, with a smooth edge.

Replace the quarter with a 20-cent coin. Make the new coin the size of the current cent, but made of copper-nickel, with a smooth edge.

Resize the 50-cent coin to the current size of the nickel. Make it out of brass, with a 12-sided edge.

Resize the dollar to the current quarter. Make it out of nickel, with edge lettering. Use the shield cent design.

Introduce a $2 coin the size of the current dollar. To thwart counterfeiters, it would have to be bimetallic.

Introduce (or reserve a place for) a $5 coin the size of the current half dollar, also bimetallic.

[PennyBoy]

If I was the fed. res. I'd do away with 10's and 50's and dimes, since it's very easy to go without those. I'd also like to see a $500 bill again, of course that'd be counterfeited in a heartbeat. As a business operator, it sure would hurt if one of my employees took in a fake $500.

[fasteddy]

keep the $2 make a $6, a $24...dump the rest of the paper notes.

[silverflake]

Introduce the $3 bill. Give me a 2 and 1/2 cent piece.

[68Camaro]

Discontinue the cent and nickel.

Keep the dime, but make it bronze, with a smooth edge.

Replace the quarter with a 20-cent coin. Make the new coin the size of the current cent, but made of copper-nickel, with a smooth edge.

Resize the 50-cent coin to the current size of the nickel. Make it out of brass, with a 12-sided edge.

Resize the dollar to the current quarter. Make it out of nickel, with edge lettering. Use the shield cent design.

Introduce a $2 coin the size of the current dollar. To thwart counterfeiters, it would have to be bimetallic.

Introduce (or reserve a place for) a $5 coin the size of the current half dollar, also bimetallic.

Naw - makes too much sense - it'll never happen...

[Know Common Cents]

New bills would be

$5
$10
$25
$75
$200
$500

Below $5 transactions would involve $1 and $2 coins. Anything that's fractional (coins in a $1.50 or $2.25 denomination would be pointless as many people are math-challenged and they'd take 20 minutes to pay for anything in cash).

Technology does exist with QR and bar coding to make these difficult to counterfeit. Not to mention the addition of denomination-specific RFID micro-chips in the $200 and $500 notes.

I hope and pray it's never going to come to that, but believe it will...sadly.

[AGgressive Metal]

Coins:

5-cent (copper, Lincoln, just slightly larger than a current penny, with a 'V" reverse)
10-cent (same as current, but with a generic native american head instead of FDR)
25-cent (standard Washington quarter, pre-states series)
50-cent (return to Franklin design, but CuNi)
$1 coin (same as current "gold" dollar, but Peace Dollar design)

Notes:

$2, Jefferson
$5, John Paul Jones
$10, Hamilton
$20, Madison
$50, George Mason
$100, Jackson
$500 note, over-sized with modern security features, Generic minuteman obverse, Washington crossing Delaware reverse

[Mossy]

"Where" the bill is, is a good deal more important to me than "how big".

[justoneguy]

just how long do you think it will be untill all "money" is digital??
We aren't far off in my opinion.
The only way to pay off the deficit, will be to monitor and tax ALL transactions.
coins and paper will soon be in the history books only.

[cupronickel]

I would make a $1, $3, $5, $7, $11, and a $13
By using only prime numbers, we could simplify our system.
I would also make a $3.14 note to keep it interesting

[Rodebaugh]

Notes with a theme:

$5 Willie Nelson portrait obverse / Open guitar case with a few dollars inside reverse
$10 Ozzie with heavy running makeup obverse / headless bat and empty booze reverse
$20 Pink Floyd “wish you were here” art obverse / Brick wall with Marching hammers Reverse
$50 Metallica long hair Obverse / Metallica Short hair reverse
$100 Kiss (full face paint) Obverse / lit Bic Lighters ablaze reverse
$500 young Elvis “the king” Obverse / Graceland Reverse

[DTEJD1997]

Hey all:

I would like only a few changes...

I would really like a $500 & $1,000 bill to re-enter circulation.

Maybe even introduce a $500 & $1,000 "chip", kind of like a chip in a casino. Put some amount of gold or silver in it...

It becomes somewhat problematic when dealing in large amount of cash with $100 bills.

I would also like to see a $1 coin come back into use. I want something like the old Morgan or Peace dollars. When you held one of those, you knew what you had. It was a MAN'S coin, a serious coin that meant serious business! SBA, sacajewa & all those "other" dollars can't even hold a candle to the old ones. Even the Ike's are OK.

Of course we need to get back to a strong dollar. I don't foresee that happening any time soon....

[ed_vantage17]

Get rid of cent, nickle, $1 FRN. Increase production on $2 FRN and $1 coin. Reissue $500 and $1000 with super-duper counterfeit prevention technology.

[Bluegill]

The rate we're going with deficit spending and quantitative easing it's only a matter of time before $500, $1000 and $10,000 notes will become a necessity... And the lowly $1 coin will be the lowest denomination currency unit, getting the same disrespect the cent currently does. With public sentiment to stop minting them it because it costs more than its face value to make...

That soon to be reality aside, I would like to see the cent go away, replace the dollar note with the dollar coin and reintroduce the $500 note.

I'm old school, I still use cash, a $500 note would be a welcomed convenience.

[Mossy]

...
I'm old school, I still use cash, a $500 note would be a welcomed convenience.

This present situation just might be an openning for electronic money by the fedgov. Maybe so, maybe no.

How hard would ramping up inflation be if it was all electronic?

OTOH, the fedgov seems a bit on the luddite side.

[Country]

$500 and $1000 for sure would make it easier to buy boxes of coins. It's time anyway to realize that a $100 bill doesn't cut it anymore. Soon the money printers will realize that some zeros need to be added, and larger denominations are required for ordinary business.

When I was a kid, a $100 bill was too large for ordinary commerce. If you brought one in to a store, the reply was, "What am I, a bank?" Nowadays, a $100 bill won't buy the family groceries. Could the time of a pile of money in a grocery cart be that far off?

Hoard On...

[henrysmedford]

I'm old school, I still use cash, a $500 note would be a welcomed convenience.

You would have to revoke Nixon's executive order.

From http://darkcreek.com/united_states_currency/united_states_five_hundred_dollar_bill/

Did you know?
Circulation of high-denomination bills was halted in 1969 by executive order of President Richard Nixon, in an effort to combat organized crime.

The $500 McKinley bill issued in 1929 would be equal in value to $6,350 dollars in 2010.

[Country]

Think about it; these old $500 bills in 1929 could be exchanged for 500 brand new SILVER dollars (half a $1000 bag could be worth $20000 or more today) or 25 brand new St. Gauden's $20 GOLD pieces (at $2000 each, 25 would be worth $50000). Fiat is just paper, isn't it?

[henrysmedford]

Fiat is just paper, isn't it?

Nixon too!

[fb101]

Lose the $1 and $2 bills and put in the coins.
add a $5 coin.
If they did $10 and $20 coin that would be nice too.
I think the 1/2 dollar could be killed as soon as all the silver has been taken out and not before.

[Chief]

They killed the $1 coin, but they should kill the $1 bill. Make people use the $1 and half dollar coins. 18 months for paper dollar vs. 30+ years for coins.
$2 bills or coins should be produced in big numbers.
Cent and nickle should go away.
A $250/$500 and $1,000 bill would be great. 30 $100's could be 12 bills or less.

[John_doe]

Right now we have the 1, 2, 5, 10, 20, 50, and 100, with 500s & 1000s still floating around but out of print for many decades and the 2 rarely used. And technically fractional banknotes from the Civil War are still legal tender, though they don't fit in vending machines

In your perfect world, Federal Reserve fiat money issues aside, what denominations would you like to see come or go? Would you like to replace the $1 note with coins? Print $500s again? Create a new denomination?

Personally, if there were a denomination higher than 100, I'd like to see it be made of polymer and slightly larger size - you don't want to lose one of those in the laundry machine!

the united states has plans to switch to polymer notes don't they? I know canada is in transition right now.

[henrysmedford]

John_doe

the united states has plans to switch to polymer notes don't they? I know canada is in transition right now.

Not yet. Two years ago they were going to have a new $100 and they printed 1 Billion and might have to to shred them. And they are still can not get it right.

[John_doe]

John_doe

the united states has plans to switch to polymer notes don't they? I know canada is in transition right now.

Not yet. Two years ago they were going to have a new $100 and they printed 1 Billion and might have to to shred them. And they are still can not get it right.

[img][http://upload.wikimedia.org/wikipedia/en/b/b7/Xerox_914.jpg][/img]

"I think we broke it again, maybe we are overusing it."