As a rule, political economists of the present day do not take the trouble to study the history of money; it is much easier to imagine it and deduce the principles of this imaginary knowledge Alaxander del Mar, A History of monetary systems (1901)

Is the 500 euro note legal tender?

"High denomination banknotes should be accepted as means of payment in retail transactions. A refusal thereof should be possible only if grounded on reasons related to the ‘good faith principle’ (for example the face value of the banknote tendered is disproportionate compared to the amount owed to the creditor of the payment)."1

So, is the 500 euro note legal tender afterall?

"For security reasons 500 euro banknotes are not accepted" (pump at gas station in Kehl, Germany).

Not always, not everywhere as it seems...


1. COMMISSION RECOMMENDATION of 22/3/2010 on the scope and effects of legal tender of euro banknotes and coins (2010/191/EU)

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