$500 banknote circulated for 41 years, and has been out of circulation for 43 years. At the time it was taken out of circulation there was fewer than one $100 banknote per person in this country, and nearly all $100 banknotes circulated domestically.
The only reason it was discontinued is that it was perceived to help criminals (including counterfeiters). Today a $100 is worth less than $20 43 years ago. The only valid reason not to restore the $500 banknote is that it helps criminals.
There is no other valid reason. It would help the Treasury logistically if they could go back to the larger notes. They could afford more security features. It would be much easier to replace the current supply of 8 billion Benjamins with 3 billion new $100 Benjamins, and 1 billion new $500 notes .
This is the more interesting 1918 version.
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