I’ve posted previously about the possible demise of cash and the related issue of the number of high-value banknotes in circulation.
A report a few days back said that in recent months there had been a big increase in the number of high-value notes placed into circulation, but a decrease in the number of lower value notes. The message seems to be that as consumers move to cashless transactions, there’s less need for low value notes, but in uncertain times, people hoard money in the form of high value notes.
In fact, the Reserve Bank in its synopsis of the “banknote” part of its 2020 Annual Report said that it “drew on its extensive stocks to meet increased public demand for high-denomination banknotes as a store of value and for precautionary purposes, a development that is common during periods of acute economic and financial uncertainty”.
I know I’m old-fashioned, but I haven’t yet got to the stage of stashing cash under the bed!
Musings and Mutterings 
Once the RBA reduces interest to either 0.1% or lower, then it will be safer to have some large notes onboard. I had an occasion where the retail facility had a notice that ‘preferably use electronic’ is the go, but they had to put it all back on the shelf when I proffered a $100 note.
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