500 Euro note

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Old Nov 22nd 2006, 12:10 am
  #1  
Jpg
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Default 500 Euro note

As I was collecting my Euros from the bureau de change yesterday, the
cashier showed me a 500 Euro note (in a fetching shade of purple). It
occured to me that the highest denomination note issued by the Bank of
England is �50, and they are very rarely seen (except on racecourses,
not surprisingly).

I wonder how many in the Euro zone have seen, let alone carried, a note
of such high value. Even in the US where $1000 bills supposedly exist,
very few are to be seen.

JPG
 
Old Nov 22nd 2006, 12:50 am
  #2  
Frank Hucklenbroich
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Default Re: 500 Euro note

Am 22 Nov 2006 05:10:07 -0800 schrieb JPG:

    > I wonder how many in the Euro zone have seen, let alone carried, a note
    > of such high value. Even in the US where $1000 bills supposedly exist,
    > very few are to be seen.

Its not that rare. In Germany the highest bill that we used to have in
Deutschmark was 1.000 DM, which is roughly the same as 500 EUR.

Remember that in many European countries people still prefer cash over
credit- or bank-cards. Especially when it comes down to elderly people.
When they call a company to have their house painted, they often come to
the company-office to pay their bill in cash. Even if its a few 1000 EUR.

Or when you buy certain things that require cash, like used cars.

At least here in Germany, if you buy a used car from someone private (not a
company), it is still common to pay cash. So when you buy a car for say
10.000 EUR, you go to the bank and demand 10.000 EUR of your account. Only
20 bills that fit easily in your pocket. Not unusual at all. Then again, we
have a rather low crime-rate, when it comes down to things like robbery.

And of course for every transaction that should not be in "the record" (=if
people do illegal jobs to avoid tax, bribes, whatever). Don't underestimate
the "shadow-market".

Regards,

Frank
 
Old Nov 22nd 2006, 1:42 am
  #3  
Jpg
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Default Re: 500 Euro note

Frank Hucklenbroich wrote:
    > Am 22 Nov 2006 05:10:07 -0800 schrieb JPG:
    > > I wonder how many in the Euro zone have seen, let alone carried, a note
    > > of such high value. Even in the US where $1000 bills supposedly exist,
    > > very few are to be seen.
    > Its not that rare. In Germany the highest bill that we used to have in
    > Deutschmark was 1.000 DM, which is roughly the same as 500 EUR.
    > Remember that in many European countries people still prefer cash over
    > credit- or bank-cards. Especially when it comes down to elderly people.
    > When they call a company to have their house painted, they often come to
    > the company-office to pay their bill in cash. Even if its a few 1000 EUR.

That's true in the UK to a certain extent, where there are a large
number of people who do not even have bank accounts, and they are paid
in cash. My mother always keeps large amounts of cash in the house.
France seems to be fairly cashless, having had chip-and-pin for many
years.

    > Or when you buy certain things that require cash, like used cars.

Same in the UK - car dealers do not like cheques although they will
take a banker's draft (effectively cash).

    > At least here in Germany, if you buy a used car from someone private (not a
    > company), it is still common to pay cash. So when you buy a car for say
    > 10.000 EUR, you go to the bank and demand 10.000 EUR of your account. Only
    > 20 bills that fit easily in your pocket. Not unusual at all. Then again, we
    > have a rather low crime-rate, when it comes down to things like robbery.

Despite what you might hear, the UK only has problems with street-crime
in deprived inner-city areas. Oddly, the Bank of England has never
issued notes greater than �50, to my knowledge, although some scottish
banks issue �100 notes, I believe.

    > And of course for every transaction that should not be in "the record" (=if
    > people do illegal jobs to avoid tax, bribes, whatever). Don't underestimate
    > the "shadow-market".

There's plenty of that going on in the UK, mainly involving migrant
workers from the 'new' EU - ie Poland and the Baltics.

    >
    > Regards,
    >
    > Frank
 
Old Nov 22nd 2006, 1:48 am
  #4  
Martin
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Default Re: 500 Euro note

On 22 Nov 2006 06:42:17 -0800, "JPG" <[email protected]>
wrote:

    >There's plenty of that going on in the UK, mainly involving migrant
    >workers from the 'new' EU - ie Poland and the Baltics.

Yeah right, no locals dodging paying VAT.
--

Martin
 
Old Nov 22nd 2006, 1:56 am
  #5  
Padraig Breathnach
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Default Re: 500 Euro note

"JPG" <[email protected]> wrote:

    >As I was collecting my Euros from the bureau de change yesterday, the
    >cashier showed me a 500 Euro note (in a fetching shade of purple). It
    >occured to me that the highest denomination note issued by the Bank of
    >England is £50, and they are very rarely seen (except on racecourses,
    >not surprisingly).
    >I wonder how many in the Euro zone have seen, let alone carried, a note
    >of such high value. Even in the US where $1000 bills supposedly exist,
    >very few are to be seen.
In Ireland, the highest denomination in general use is the €50, and it
is only very recently that I first even saw a €100 note when an ATM in
Vienna supplied me with some. We made sure that we used them all
before we came home, because I am sure that Irish outlets are not
familiar with them.

When I use ATMs in France (which I do a lot) they often supply me with
a wad of €20s. While €50s are not rare there, they seem relatively a
lot less common than in Ireland.

--
PB
The return address has been MUNGED
My travel writing: http://www.iol.ie/~draoi/
 
Old Nov 22nd 2006, 2:01 am
  #6  
Magda
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Posts: n/a
Default Re: 500 Euro note

On Wed, 22 Nov 2006 14:56:31 +0000, in rec.travel.europe, Padraig Breathnach
<[email protected]> arranged some electrons, so they looked like this:

...
... When I use ATMs in France (which I do a lot) they often supply me with
... a wad of �20s. While �50s are not rare there, they seem relatively a
... lot less common than in Ireland.

Mine always gives me 20s, with 2 x 10 Euro notes. They seem to think I need small change.
Not a bad idea, actually.
 
Old Nov 22nd 2006, 2:41 am
  #7  
Giovanni Drogo
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Default Re: 500 Euro note

On Wed, 22 Nov 2006, JPG wrote:

    > cashier showed me a 500 Euro note (in a fetching shade of purple). It

    > I wonder how many in the Euro zone have seen, let alone carried, a note
    > of such high value.

I've never seen anything higher than 50 euro. ATMs in Italy usually
distribute 50 and 20 in some combination (e.g. for a withdrawal of 500
euro you get 8x50 and 5x20). My typical withdrawal is 500 at a time, but
I guess most people withdraw less, since on most ATMs the first menu
offer different combinations, and to get 500 you have to go the second
menu (or "altro importo" i.e. "other amount" and type it in).

Anyhow I'd never pay anything costing more than 200 euro (more likely
100) in cash. I'd use a Bancomat card, a credit card or a cheque.

Large cash payments are also going to become illegal quite soon in
Italy, at least for some kinds of transactions.

--
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avoid unwanted spam. Any mail returning to this address will be rejected.
Users can disclose their e-mail address in the article if they wish so.
 
Old Nov 22nd 2006, 2:53 am
  #8  
Frank Hucklenbroich
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Default Re: 500 Euro note

Am Wed, 22 Nov 2006 16:41:58 +0100 schrieb Giovanni Drogo:

    > Large cash payments are also going to become illegal quite soon in
    > Italy, at least for some kinds of transactions.

The mob takes EC-cards now?

SCNR,

Frank
 
Old Nov 22nd 2006, 3:50 am
  #9  
Kir�ly
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Default Re: 500 Euro note

JPG <[email protected]> wrote:
    > I wonder how many in the Euro zone have seen, let alone carried, a note
    > of such high value. Even in the US where $1000 bills supposedly exist,
    > very few are to be seen.

Unlike high denomination EUR notes (which might be scarce but are still
actively being issued), US $1,000 notes have not been issued since 1969.
Any that do exist in circulation have been in circulation since then.
Canada similarly got rid of its $1,000 note six years ago.

I hear that in Spain, locals have dubbed the EUR 500 note a "bin Laden."
It seems that nobody has seen one in a long, long, long time and many
doubt that it even exists. :)

--
K.

Lang may your lum reek.
 
Old Nov 22nd 2006, 4:55 am
  #10  
Nightjar
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Posts: n/a
Default Re: 500 Euro note

"JPG" <[email protected]> wrote in message
news:[email protected] oups.com...
...
    > Despite what you might hear, the UK only has problems with street-crime
    > in deprived inner-city areas. Oddly, the Bank of England has never
    > issued notes greater than �50, to my knowledge, although some scottish
    > banks issue �100 notes, I believe.

Up to 1945, when anything above �5 was withdrawn from circulation, the Bank
of England issued notes in denominations of �100, �500 and �1,000.

Colin Bignell
 
Old Nov 22nd 2006, 5:30 am
  #11  
David Horne
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Default Re: 500 Euro note

Padraig Breathnach <[email protected]> wrote:

[]
    > When I use ATMs in France (which I do a lot) they often supply me with
    > a wad of �20s. While �50s are not rare there, they seem relatively a
    > lot less common than in Ireland.

I've been in Barcelona a lot in the last few months, and most of the
ATMs have given me a �50 note when I've asked for, say, �90. (I do that
in order to get at least _some_ smaller bills.) Barcelona cabs are
guaranteed to give you change of a �20, according to the terms posted in
them. I had someone in a restaurant there try to short change me when I
presented a �50 the other week- gave change back for a �20. I
immediately pointed out the error, and he immediately refunded me. I
have my suspicions, but that's all. (My spanish is pretty good, so I
would have been surprised if he'd have taken advantage of a 'tourist.')

This was balanced out by the waiter in the restaurant the night before
that who had shortchanged himself. Again, I pointed out the error, but I
have to say, I much prefer his restaurant...

--
David Horne- http://www.davidhorne.net
usenet (at) davidhorne (dot) co (dot) uk
http://www.davidhorne.net/pictures.html http://soundjunction.org
 
Old Nov 22nd 2006, 6:08 am
  #12  
Dashrd
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Posts: n/a
Default Re: 500 Euro note

David Horne, _the_ chancellor of the royal duchy of city south and
deansgate wrote:
    > Padraig Breathnach <[email protected]> wrote:
    > []
    > > When I use ATMs in France (which I do a lot) they often supply me with
    > > a wad of �20s. While �50s are not rare there, they seem relatively a
    > > lot less common than in Ireland.
    > I've been in Barcelona a lot in the last few months, and most of the
    > ATMs have given me a �50 note when I've asked for, say, �90. (I do that
    > in order to get at least _some_ smaller bills.) Barcelona cabs are
    > guaranteed to give you change of a �20, according to the terms posted in
    > them. I had someone in a restaurant there try to short change me when I
    > presented a �50 the other week- gave change back for a �20. I
    > immediately pointed out the error, and he immediately refunded me. I
    > have my suspicions, but that's all. (My spanish is pretty good, so I
    > would have been surprised if he'd have taken advantage of a 'tourist.')
    > This was balanced out by the waiter in the restaurant the night before
    > that who had shortchanged himself. Again, I pointed out the error, but I
    > have to say, I much prefer his restaurant...


Does anyone have any idea if these 500 euro notes are widely accepted
at the Bureau De Changes in Thailand?
 
Old Nov 22nd 2006, 6:37 am
  #13  
David Horne
Guest
 
Posts: n/a
Default Re: 500 Euro note

dashrd <[email protected]> wrote:

    > David Horne, _the_ chancellor of the royal duchy of city south and
    > deansgate wrote:
    > > Padraig Breathnach <[email protected]> wrote:
    > >
    > > []
    > > > When I use ATMs in France (which I do a lot) they often supply me with
    > > > a wad of �20s. While �50s are not rare there, they seem relatively a
    > > > lot less common than in Ireland.
    > >
    > > I've been in Barcelona a lot in the last few months, and most of the
    > > ATMs have given me a �50 note when I've asked for, say, �90. (I do that
    > > in order to get at least _some_ smaller bills.) Barcelona cabs are
    > > guaranteed to give you change of a �20, according to the terms posted in
    > > them. I had someone in a restaurant there try to short change me when I
    > > presented a �50 the other week- gave change back for a �20. I
    > > immediately pointed out the error, and he immediately refunded me. I
    > > have my suspicions, but that's all. (My spanish is pretty good, so I
    > > would have been surprised if he'd have taken advantage of a 'tourist.')
    > >
    > > This was balanced out by the waiter in the restaurant the night before
    > > that who had shortchanged himself. Again, I pointed out the error, but I
    > > have to say, I much prefer his restaurant...
    >
    >
    > Does anyone have any idea if these 500 euro notes are widely accepted
    > at the Bureau De Changes in Thailand?

No clue. Suggest you try a newsgroup that deals with Asian (or Thai)
travel.

--
David Horne- http://www.davidhorne.net
usenet (at) davidhorne (dot) co (dot) uk
http://www.davidhorne.net/pictures.html http://soundjunction.org
 
Old Nov 22nd 2006, 7:09 am
  #14  
B Vaughan
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Posts: n/a
Default Re: 500 Euro note

On 22 Nov 2006 05:10:07 -0800, "JPG"
<[email protected]> wrote:

    >As I was collecting my Euros from the bureau de change yesterday, the
    >cashier showed me a 500 Euro note (in a fetching shade of purple). It
    >occured to me that the highest denomination note issued by the Bank of
    >England is �50, and they are very rarely seen (except on racecourses,
    >not surprisingly).
    >I wonder how many in the Euro zone have seen, let alone carried, a note
    >of such high value. Even in the US where $1000 bills supposedly exist,
    >very few are to be seen.

Not at all rare in Italy.
--
Barbara Vaughan
My email address is my first initial followed by my surname at libero dot it
I answer travel questions only in the newsgroup
 
Old Nov 22nd 2006, 7:09 am
  #15  
B Vaughan
Guest
 
Posts: n/a
Default Re: 500 Euro note

On 22 Nov 2006 05:10:07 -0800, "JPG"
<[email protected]> wrote:

    >As I was collecting my Euros from the bureau de change yesterday, the
    >cashier showed me a 500 Euro note (in a fetching shade of purple). It
    >occured to me that the highest denomination note issued by the Bank of
    >England is �50, and they are very rarely seen (except on racecourses,
    >not surprisingly).
    >I wonder how many in the Euro zone have seen, let alone carried, a note
    >of such high value. Even in the US where $1000 bills supposedly exist,
    >very few are to be seen.
    >JPG

--
Barbara Vaughan
My email address is my first initial followed by my surname at libero dot it
I answer travel questions only in the newsgroup
 


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