Bye, Benjamin. Nice Knowing Ya.
According to Numismatic News, roughly 60% of financial transactions in the U.S. are made using a debit or credit card. While it’s unlikely that cold hard cash is going away anytime soon, the $100 bill might be shown the door. Harvard economist Kenneth Rogoff advocates for its removal from circulation, noting that over half of these notes are held overseas and are often used for (gasp!) illicit activities. People also hold onto $100 bills longer, a concept dubbed the “denomination effect.” The bigger the bill, the more precious it feels, even if it’s worth the same as five $20s. Of course, then there’s North Korea. (How’s that for a hard left turn?) Rocket Man and his buddies allegedly have been producing near-perfect replicas for years. Kinda makes you question the origin of that crisp Benjamin in your wallet, doesn’t it?