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When I was healthier and we were wealthier, I travelled. And yes, I kept high-dollar traveller's cheques in my money belt, as well as some lower-dollar ones. They were part of my emergency stash; along with the serial #s of those cheques kept with several other important numbers in my belt and in every bit of my luggage. 
I also had small stashes of large-denomination money, both $Aus and $US (where I was going). These were also emergency stash.
It's easier to conceal two small pieces of paper (or plastic cloth, in the $Aus case) than several such pieces.
Yes, a couple of times I did cash traveller's cheques. I went with my friend/host to his bank, signed them over as a deposit for him, and he gave me the small/normal $US bills to the same value. (Apparently it was easier for the teller to do the exchange for an existing customer of the bank than for a total stranger.)
A little advance planning, and you have both the benefits of large bills, and the utility of small. No big deal to plan to change them in an appropriate place - a bank!
I also had small stashes of large-denomination money, both $Aus and $US (where I was going). These were also emergency stash.
It's easier to conceal two small pieces of paper (or plastic cloth, in the $Aus case) than several such pieces.
Yes, a couple of times I did cash traveller's cheques. I went with my friend/host to his bank, signed them over as a deposit for him, and he gave me the small/normal $US bills to the same value. (Apparently it was easier for the teller to do the exchange for an existing customer of the bank than for a total stranger.)
A little advance planning, and you have both the benefits of large bills, and the utility of small. No big deal to plan to change them in an appropriate place - a bank!
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