United States one-hundred-dollar bill


The United States one-hundred-dollar bill is a denomination of United States currency. The first United States Note with this value was issued in 1862 and the Federal Reserve Note version was launched in 1914, alongside other denominations. Statesman, inventor, diplomat, and American founding father Benjamin Franklin has been featured on the obverse of the bill since 1914. On the reverse of the banknote is an image of Independence Hall in Philadelphia, which has been used since 1928. The $100 bill is the largest denomination that has been printed and circulated since July 13, 1969, when the denominations of $500, $1,000, $5,000, and $10,000 were retired. The Bureau of Engraving and Printing says the average life of a $100 bill in circulation is 90 months before it is replaced due to wear and tear.
The bills are also commonly referred to as "Bens," "Benjamins," or "Franklins," in reference to the use of Benjamin Franklin's portrait on the denomination, or as "C-Notes," based on the Roman numeral for 100. The bill is one of two denominations printed today that does not feature a President of the United States; the other is the $10 bill, featuring Alexander Hamilton. It is also the only denomination today to feature a building not located in Washington, D.C., that being Independence Hall located in Philadelphia on the reverse. The time on the clock of Independence Hall on the reverse, according to the U.S. Bureau of Engraving and Printing, showed approximately 4:10 on the older contemporary notes and 10:30 on the newer colorized notes.
The Series 2009 $100 bill redesign was unveiled on April 21, 2010, and was issued to the public on October 8, 2013. The new bill costs 12.6 cents to produce and has a blue ribbon woven into the center of the currency with "100" and Liberty Bells, alternating, that appear when the bill is tilted.
As of June 30, 2012, the $100 bill comprised 77% of all US currency in circulation. Federal Reserve data from 2017 showed that the number of $100 bills exceeded the number of $1 bills. However, a 2018 research paper by the Federal Reserve Bank of Chicago estimated that 80 percent of $100 bills were in other countries. Possible reasons included economic instability that affected other currencies, and use of the bills for criminal activities.

History

Large size notes

'
'
portrait of Benjamin Franklin used on the $100 bill from 1929 until 1996.
portrait of an older Benjamin Franklin used on the $100 bill 1996 onward.

Small size

TypeSeriesRegisterTreasurerSeal
National Bank Note Types 1 & 21929JonesWoodsBrown
Federal Reserve Bank Note1928AJonesWoodsBrown

TypeSeriesTreasurerSecretarySeal
Gold Certificate1928WoodsMellonGold
Legal Tender Note1966GranahanFowlerRed
Legal Tender Note1966AElstonKennedyRed
Federal Reserve Note1928WoodsMellonGreen
Federal Reserve Note1928AWoodsMellonGreen
Federal Reserve Note1934JulianMorgenthauGreen
Federal Reserve Note1934AJulianMorgenthauGreen
Federal Reserve Note1934BJulianVinsonGreen
Federal Reserve Note1934CJulianSnyderGreen
Federal Reserve Note1934DClarkSnyderGreen
Federal Reserve Note1950ClarkSnyderGreen
Federal Reserve Note1950APriestHumphreyGreen
Federal Reserve Note1950BPriestAndersonGreen
Federal Reserve Note1950CSmithDillonGreen
Federal Reserve Note1950DGranahanDillonGreen
Federal Reserve Note1950EGranahanFowlerGreen
Federal Reserve Note1963AGranahanFowlerGreen
Federal Reserve Note1969ElstonKennedyGreen
Federal Reserve Note1969AKabisConnallyGreen
Federal Reserve Note1969CBañuelosShultzGreen
Federal Reserve Note1974NeffSimonGreen
Federal Reserve Note1977MortonBlumenthalGreen
Federal Reserve Note1981BuchananReganGreen
Federal Reserve Note1981AOrtegaReganGreen
Federal Reserve Note1985OrtegaBakerGreen
Federal Reserve Note1988OrtegaBradyGreen
Federal Reserve Note1990VillalpandoBradyGreen
Federal Reserve Note1993WithrowBentsenGreen
Federal Reserve Note1996WithrowRubinGreen
Federal Reserve Note1999WithrowSummersGreen
Federal Reserve Note2001MarinO'NeillGreen
Federal Reserve Note2003MarinSnowGreen
Federal Reserve Note2003ACabralSnowGreen
Federal Reserve Note2006CabralPaulsonGreen
Federal Reserve Note2006ACabralPaulsonGreen
Federal Reserve Note2009RiosGeithnerGreen
Federal Reserve Note2009ARiosGeithnerGreen
Federal Reserve Note2013RiosLewGreen
Federal Reserve Note2017ACarranzaMnuchinGreen

Removal of large denomination bills ($500 and up)

The Federal Reserve announced the removal of large denominations of United States currency from circulation on July 14, 1969. The one-hundred-dollar bill was the largest denomination left in circulation. All the Federal Reserve Notes produced from Series 1928 up to before Series 1969 of the $100 denomination added up to $23.1708 billion. Since some banknotes had been destroyed, and the population was 200 million at the time, there was less than one $100 banknote per capita circulating.
As of June 30, 1969, the U.S. coins and banknotes in circulation of all denominations were worth $50.936 billion of which $4.929 billion was circulating overseas. So the currency and coin circulating within the United States was $230 per capita. Since 1969, the demand for U.S. currency has greatly increased. The total amount of circulating currency and coin passed one trillion dollars in March 2011.
Despite the degradation in the value of the U.S. $100 banknote, and despite competition from some more valuable foreign notes, there are no plans to re-issue banknotes above $100. The widespread use of electronic means to conduct high-value transactions today has made large-scale physical cash transactions obsolete and therefore, from the government's point of view, unnecessary for the conduct of legitimate business. Quoting T. Allison, Assistant to the Board of the Federal Reserve System in his October 8, 1998 testimony before the U.S. House of Representatives, Subcommittee on Domestic and International Monetary Policy, Committee on Banking and Financial Services: