Why are there no 1000 euro notes?

by times news cr

2024-10-07 18:34:26

Money makes the world go round, they say. Anyone who has a lot of it counts for something. But why doesn’t even a billionaire have a 1,000 euro note in his pocket?

There used to be a 1000 DM note. Many people miss the big brown horse to this day and would like to have him back. When the euro replaced the mark in 2002, the largest denomination of a banknote was 500 euros. Merchants such as car dealers, who were used to doing business with large bills at the time, were disappointed. But what is the reason why the euro runs out of steam at the number 500? Here you can read why that is the case.

We have had the euro in our wallets since January 2002. We usually deal with smaller notes with a face value of 5, 10, 20 or 50 euros. The green 100 and yellow 200 euro banknotes are becoming more rare. And the largest of all, the 500 euro note, only changes hands sporadically in payment transactions. Since 2018, the European Central Bank has not issued it, let alone reprinted it. However, it is still valid as a means of payment.

The guardians of our currency don’t waste a thought on a 1000 euro note. If counterfeits of this banknote were to enter the currency circuit, the material damage and loss of confidence in the euro would be immense.

Banks fear robbers and counterfeiters. The latter try to reprint the small notes almost perfectly so that no layperson notices. More than 70% of all counterfeits seized are in denominations of 20 euros and 50 euros. With large bills, the hurdles are even greater. Due to high security standards, even experienced counterfeiters find it difficult to copy them. The “feel-see-tilt” principle makes it easier for you to recognize counterfeit banknotes:

Many fear the abolition of cash. Others are allergic to bills that have previously touched thousands of hands. Does cash have a future? We consumers, among others, decide that. In any case, the 1,000 euro note has no chance of success, even if it would feel good in your wallet.

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