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Old 14.03.2010, 20:01
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1000 CHF notes... who has them?

Approximately 60% of the entire value of all Swiss bank notes in circulation are made up of notes of 1'000 CHF denomination (http://www.snb.ch/en/iabout/cash/id/cash_circulation).

Since I never held a 1'000 CHF note in my hands, I was wondering who hoards these masses of 1'000 CHF notes.

Could not find any studies out there that show who keeps them... Is it organized crime gangs or is it the inflation fearing grandmother that keeps these notes?

Just curious to what your opinion would be on this....
K
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Old 14.03.2010, 20:08
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Re: 1000 CHF notes... who has them?

Someone planning a night out at Alte Börse?
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Old 14.03.2010, 20:09
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Re: 1000 CHF notes... who has them?

I don't really know the answer to your question, but in my case I used to get paid in cash rather frequently and it often meant one or more 1K notes.

The coolest thing is I stopped in my local bakery one early morning and happened to have one of these in my wallet, and nothing else. They took it without even blinking , said little old ladies came in with them several times a week.

When I lived in the U.S. I'd get funny looks sometimes if I tried to pay with a 50 dollar bill. 100 dollar bill was flat refused in gas stations and late night shops.
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Old 14.03.2010, 20:10
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Re: 1000 CHF notes... who has them?

I was given three once and looked at them casually for a few moments before I realised that they were thousands and not the hundreds that I initially though they were....

Apart from those three I have never seen them since...
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Old 14.03.2010, 20:11
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Re: 1000 CHF notes... who has them?

I had one, once
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Old 14.03.2010, 20:12
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Re: 1000 CHF notes... who has them?

Have had it only 3 times in many years, but don't 4get strenght of CHF and reputation abroad, to keep it for rainy day, or M. laundry!
There might be no circulating notes more valuable than that in the world.

Even 5 CHF coin is probably more valuable than any circulating money coin.
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Old 14.03.2010, 20:14
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Re: 1000 CHF notes... who has them?

Once i had 18 in one go. For about an hour. I exchanged them with my car after that :P
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Old 14.03.2010, 20:16
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Re: 1000 CHF notes... who has them?

Strange that you've never held a chf 1000 note. Even our first purchase in Media Markt meant we needed to organise cash over a couple of days because of the chf 1,000 a day EC limit and no credit cards accepted.

I'm all for bigger notes - they would have made paying my builder in London a tad easier too. £5,000 in £50 notes was quite a few notes.
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Old 14.03.2010, 20:24
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Re: 1000 CHF notes... who has them?

I always go in and get my money out from the bank before I pay my bills every month. They always ask if I want large or small notes and the large ones are always 1000's.
Seems to hurt/burn more when handing them over

Feels nice to hold them for a few minutes though!
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Old 14.03.2010, 20:27
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Re: 1000 CHF notes... who has them?

I had a bunch when I first came here and exchanged all my dollars for francs.

I saw some old lady pay for her groceries (< 100CHF) at the Coop with one last week
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Old 14.03.2010, 20:50
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Re: 1000 CHF notes... who has them?

I had a customer a few weeks ago buy cheese from my market stall with one. Unfortunately I had to bank it the next day to pay some bills, otherwise I would have framed it!
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Old 14.03.2010, 20:52
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Re: 1000 CHF notes... who has them?

like gata I had 15 or 16 once to buy a car
very surreal having 16K and the wallet still being really thin
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Old 14.03.2010, 21:04
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Re: 1000 CHF notes... who has them?

not me believe me
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Old 14.03.2010, 21:05
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Re: 1000 CHF notes... who has them?

i bought my car from a private person with 38 of these notes....
i know that in some foreign countries the 1000 notes are very appreciated in the currency blackmarket.

The link to the swiss national bank shows a 500 note....never seen this one!
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Old 14.03.2010, 21:21
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Re: 1000 CHF notes... who has them?

^they are no longer in circulation.
A shop in one of the gold coast villages had to put up a sign that they couldn't take them any longer as they didn't have any change after several people paying their shopping them.
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Old 14.03.2010, 21:24
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Re: 1000 CHF notes... who has them?

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There might be no circulating notes more valuable than that in the world.
With the changing exchange rates, I believe that the CHF1000 note is currently the highest value note in circulation, taking over from the 500 Euro note.
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Old 14.03.2010, 21:37
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Re: 1000 CHF notes... who has them?

I tend to keep most of the extras in my mattresses... CS sends over a courier regularly.

In fact, I better get a bigger house with a few more bedrooms. Is that castle still for sale?

fduvall
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Old 14.03.2010, 21:41
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Re: 1000 CHF notes... who has them?

Not long ago, most transactions were done in cash. If you wanted to buy a car, you picked up a stack of CHF1000 bills from the bank, and counted them at the car dealership. The same goes for paying your bills at the Post. I know people who still do this.
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Old 14.03.2010, 21:53
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Re: 1000 CHF notes... who has them?

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Since I never held a 1'000 CHF note in my hands, I was wondering who hoards these masses of 1'000 CHF notes.
I had one recently in my wallet, due to an incident with a misbehaving ATM. [I normally keep a bit of cash with me for when I need it, but use my debit card for buying stuff; yet a grand bill is not the kind of cash that's most convenient to have with you] I used that bill as soon as I could, for the next thing I had to buy. The lady at the tea store took it without blinking, and the change is still lasting.

Before that, I last had two of these together with some other large notes in my wallet when I first moved to Switzerland. I had cash changed to CHF before I moved to have enough money to get around at the beginning here before I have a bank account with local cards and can settle a proper money transfer (which is slow us hell with some countries...), as I did not want to depend on not having problems with or incur the costs of using my foreign credit card here.

Last edited by alsbergt; 15.03.2010 at 00:24.
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Old 14.03.2010, 22:21
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Re: 1000 CHF notes... who has them?

Quote:
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Approximately 60% of the entire value of all Swiss bank notes in circulation are made up of notes of 1'000 CHF denomination (http://www.snb.ch/en/iabout/cash/id/cash_circulation).

Since I never held a 1'000 CHF note in my hands, I was wondering who hoards these masses of 1'000 CHF notes.

Could not find any studies out there that show who keeps them... Is it organized crime gangs or is it the inflation fearing grandmother that keeps these notes?

Just curious to what your opinion would be on this....
K
I have reasonably often seen old ladies in a Post Office paying their bills with these big notes.
As somebody said it is almost impossible to use $100 notes in USA although they are daily currency in Russia & other eastern europe countries.
I read somewhere a Jumbo size cargo aircraft flies into Moscow every day stuffed with these notes. One of the reasons the US$ will always be a reserve currency.
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