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by Scoundreller 1876 days ago
Similarish issue with 500 EUR notes. Foreigners sometimes get stiffed with them overseas because nobody wants to take them, including the money changers' suppliers. In Europe, you can only convert them at central banks, but usually they'll be accepted if you buy something big enough.
1 comments

That's more like the US $100, which is not accepted usually because

- they are a high denomination bill and people who attempt to counterfeit money like to copy those

- they are not encountered often, and so staff can be unfamiliar with how to verify their authenticity

- as the highest denomination US note, it is very hard to get it out of your till and back as change, and meanwhile it has probably taken a bunch of bills you do often need to give back out of the till

Your bank will take it at least. Not so with a 500 EUR note even in Europe.
If the bank doesn't take it, how do 500EUR notes even wind up in circulation then?