WonkBlog writes It’s time to kill the $100 bill
The fact that — as Sands points out — in certain circles the 500 euro note is known as the ‘Bin Laden’ confirms the arguments against it. Sands’ extensive analysis is totally convincing on the linkage between high denomination notes and crime. He is surely right that illicit activities are facilitated when a million dollars weighs 2.2 pounds as with the 500 euro note rather than more than 50 pounds as would be the case if the $20 bill was the high denomination note. And he is equally correct in arguing that technology is obviating whatever need there may ever have been for high denomination notes in legal commerce.
This is the first I've heard of the proposal, but I love the idea of thinking about the weight of a million dollars.