Explore the world's largest banknotes amid global shifts away from cash. Learn about the potential removal of the $100 bill in the US and the discontinuation of the 500 euro banknote in Europe with Nomad Capitalist, serving 1,500+ high-net-worth clients globally.
Introduction
The global War on Cash is escalating. Banks are restricting cash transactions, favoring digital transfers. Despite this, cash culture thrives in regions like the Middle East and Hong Kong.
Singapore had a S$10,000 banknote, with a reporting limit of S$30,000, reduced to S$20,000. The S$1,000 note was discontinued in 2021 for anti-money laundering. Value in USD: $7286 (as of October 2023)
Brunei issues a B$10,000 note, equal to Singapore's $10,000, under a currency agreement. Brunei's wealth implies it won't yield to pressure; acceptance in Singapore remains uncertain.Value in USD: $7273 (as of October 2023)
Switzerland bucks the trend, keeping its 1,000 franc note despite global changes. The government plans to retain it, emphasizing its role as a store of value, with over half of the country's cash in these bills.Value in USD: $1089 (as of October 2023)
Singapore features twice with its 1,000 "Sing" note, easily accessible unlike its larger counterpart. Money changers in Singapore readily exchange this note, offering good rates, making it a practical choice for transactions.Value in USD: $729 (as of October 2023)
European Central Bank is phasing out 500 euro notes, but they remain valid and can be exchanged at any European central bank, acknowledging the negative impact of large banknotes.Value in USD: $524 (as of October 2023)
Armenia issues a six-figure banknote due to its high currency conversion rate. The 100,000 dram note's circulation status is uncertain in the latest series.Value in USD: $247 (as of October 2023)
Hong Kong's HK$1,000 notes offer stability with sound monetary policy. Potential pegging to the Chinese renminbi could lead to appreciation, making it a flexible choice over US dollars.Value in USD: $128 (permanent peg)
These are the world's most valuable banknotes, though they're worth less than historical high-value currencies. Collectors seek past issues like the US $100,000 bill, trading at a premium but challenging to obtain and trade.
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