BrianH
Active member
If you should be in Spain, the big day chain Leroy Merlin will always take a 500 euro note no matter how much you spend. Scanned and done. Impressed me.
The key here is "scanned" - not all retailers have a validation reader programmed with the security features of the €500 banknote due to its rarity*. Unlike the US $100, of which the world is awash with counterfeits, the €500 banknote has many security features. However, under many years of pressure from the world's anti-terrorist and drug-crime agencies, the ECB will soon stop printing the “Bin Laden” - so called because of its association with money-laundering and terror financing.
The Swiss central bank, that issues the world's highest value banknote, the Sfr 1000 (ca. £800) after the little-used Brunei $10,000 note (ca. £5,600), has no such pressure as the Swiss franc does not have such a volume and international usage as the euro. In addition, it has a world record in the number of security features - 18 independent ones.
Clearing into Croatia one year I entered a Bureau de Change to obtain enough kuna to pay my entry fees just as the assistant was handing back a banknote and telling someone that "No, we never accept $100 notes for exchange." I could quite understand that as despite recent series having reasonable security features, unlike most countries that no longer regard old series as valid tender outside of bank exchange, the Federal Reserve considers all USD banknotes since the mid-19th century as legal tender.
*Or more often many validators are simple infrared and ultraviolet light models that are far from infallible but detect most forgeries. While some institutions take the risk of missing the odd low denomination note they are not prepared to do so with such a high value as the €500 one.
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