[BBell]

Harvard Economist: US Should Phase-Out All Currency Larger Than $10 Bills

I am in 100% agreement with this but for a completely different reason.

I lived in Japan and their paper notes start at 1,000 yen. From there it went to 5,000 yen notes to 10,000 yen notes to 100,000 yen notes and I believe the next one was 500,000 yen note. How high they went I do not know.

All I know is it saves a lot of money by having more coins and less paper.

BTW, when the Japanese check out they almost always pay the exact amount. If the price is 1,272 yen they pay out the exact amount. Who wants to walk around with a pocket full of change?

I think there was a 50,000 yen note but I'm not sure. It's been awhile.

[KarlInOhio]

I lived in Japan and their paper notes start at 1,000 yen. From there it went to 5,000 yen notes to 10,000 yen notes to 100,000 yen notes and I believe the next one was 500,000 yen note. How high they went I do not know.

Wikipedia (yes, I know the warnings) lists ¥1000, ¥2000, ¥5000 and ¥10,000 as the currently issued banknotes and has nothing higher. https://en.wikipedia.org/wiki/Banknotes_of_the_Japanese_yen

The coins are ¥1, ¥5, ¥10, ¥50, ¥100 and ¥500.

[cba123]

I sort of have the opposite view.

I am currently in Vietnam, here all cash transactions are done with paper money. All of it.

I think this is a good system, as well. Just what works, in a particular place, I think.