When you reach into your wallet and find a $50 bill, it feels a little different than a $20. Many people see them as more special than other bills, and there are actually some reasons why that is.
In fact, the reasons that make $50 bills feel noteworthy are the same reasonswhy you should keep them instead of spend them.
$50 Bills Are a Part of American History
The first U.S. $50 bill was released in 1861, and since then, it has had several different designs.
But the face of former president and famous general Ulysses S. Grant has been on the 50 since 1913, and to this day, any $50 bill is a small piece of the country’s rich history.
Having $50 Bills Can Help You Save Money
Studies have shown that people typically value larger denomination bills higher than lower ones. Essentially that means people are less likely to spend big bills, such as 50s or 100s, than they are 20s, 10s, and 5s.
So by not spending your $50 bills, you might actually save some money and skip those small purchases you don’t really need.
$50 Bills Aren’t Collectable—Yet
Because $50 bills are still in circulation, most of them aren’t considered collectables yet, but there are some exceptions.
A few 50s, specifically those with serial numbers that have repeating numbers or star notes could be worth more than face value to certain collectors.
Having $50 Bills Can Make You Feel More Affluent
Because $50 notes are one of the largest denominations among United States bills, they have a certain air about them.
So by saving your 50s for a special occasion, you could feel like a Rockafeller, if even just for a moment, in front of someone important.
Paying With a $50 Could Be More Trouble Than It’s Worth
While $50 notes aren’t necessarily uncommon, they’re not used nearly as much as 20s. That means that your bill could face some scrutiny from a cashier, especially for small purchases.
Which is simply another reason to save those 50s and pay with a smaller bill instead so you save yourself the hassle.
Some Stores Won’t Even Accept $50 Bills
You may have noticed that some stores and restaurants have recently decided to go cashless. These locations won’t accept any paper money, including $50 bills.
So instead of arguing with the cashier, you can opt instead to use your card and stash the $50s away for the future.
$50 Is the Perfect Amount to Save for a Rainy Day
You never know when you’re going to need a bit of cash, especially if you don’t use it much anymore.
And while $20 might not be enough, and it’s often challenging to get change for $100, saving a $50 bill in your wallet could get you out of a pinch someday.
The $50 Could Be Phased Out One Day
Although there hasn’t been any talk of phasing out the $50 bill, it’s always possible that like the forgotten $2 bill, 50s might soon be a thing of the past.
And if that does happen someday, those 50s you held onto could be worth a lot more than their face value.
Holding On to a Piece of American History
Even if 50s never become worth more than $50, the design will almost certainly change again in the future.
And if you hold on to your 50s now, someday, they will be a part of American history and could be a wonderful thing to show your grandchildren.
Keeping Your $50 Bills Is a Form of Patriotism
Therefore, by keeping your $50 bills instead of spending them, you’re doing your part for your country to ensure its historical artifacts are available for the next generation to enjoy.
Who knows, maybe that $50 bill in your wallet will be in a museum about the 2020s someday.
There Are Many Reasons Why You Shouldn’t Spend Your $50 Bills
At the end of the day, there are quite a few reasons why you may want to hold on to those $50 notes.
From preserving American history to saving money, as well as having a bit of cash on hand for an emergency or even hoping that someday they may be worth a whole lot more, you might want to keep that $50 you have.
