Large denominations of United States currency
Large denominations of United States currency greater than $100 were circulated by the United States Treasury until 1969. Since then, U.S. dollar banknotes have only been issued in seven denominations: $1, $2, $5, $10, $20, $50, and $100.
Overview and history
Large-denomination currency had been used in the United States since the late 18th century. The first $500 note was issued by North Carolina, authorized by legislation dated May 10, 1780. Virginia quickly followed suit and authorized the printing of $500 and $1,000 notes on October 16, 1780 and $2,000 notes on May 7, 1781. High-denomination treasury notes were issued, for example during the War of 1812. During the American Civil War Confederate currency included $500 and $1,000 notes. During the federal banknote issuing period, the earliest high-denomination notes included three-year Interest-bearing notes of $500, $1,000, and $5,000, authorized by Congress on July 17, 1861. In total, 11 different types of U.S. currency were issued in high-denomination notes across nearly 20 different series dates.The obverse designs of United States banknotes generally depict either historical figures, allegorical figures symbolizing significant concepts, or a combination of both. The reverse designs range from abstract scroll-work with ornate denomination identifiers to reproductions of historical art works.
Public versus institutional use
Series 1934 gold certificates were issued after the gold standard was repealed and gold was compulsorily confiscated by order of President Franklin Roosevelt on March 9, 1933. Thus the series 1934 notes were used only for intragovernmental transactions and were not issued to the public. This series was discontinued in 1940. The series 1928 gold certificate reverse was printed in black and green. See history of the United States dollar.Passive retirement
Although they are still legal tender in the United States, high-denomination bills were last printed on December 27, 1945, and were officially discontinued on July 14, 1969, by the Federal Reserve System due to 'lack of use'. The $5,000 and $10,000 bills had effectively disappeared well before then.The Federal Reserve began taking high-denomination currency out of circulation and destroying large bills received by banks in 1969., only 336 $10,000 bills were known to exist, along with 342 remaining $5,000 bills and 165,372 remaining $1,000 bills. Due to their rarity, collectors pay considerably more than the face value of the bills to acquire them, and some are in museums in other parts of the world.
For the most part, these bills were used by banks and the federal government for large financial transactions, which was especially true for gold certificates from 1865 to 1934. However, as of 2020, the introduction of electronic money systems has made large-scale cash transactions mostly obsolete, and along with concerns about counterfeiting and the use of cash for unlawful activities, it is unlikely that the U.S. government will reissue any large-denomination currency in the near future.
With inflation since 1969, a $100 bill in 1969 is worth $700.84 in real terms, and has been worth more than a $500 bill since 2003.
According to the U.S. Department of Treasury website, "The present denominations of our currency in production are $1, $2, $5, $10, $20, $50 and $100. The purpose of the United States currency system is to serve the needs of the public and these denominations meet that goal. Neither the Department of the Treasury nor the Federal Reserve System has any plans to change the denominations in use today."
High-denomination banknote issuing data
Table of banknotes
The National Numismatic Collection at the Smithsonian Institution contains the Bureau of Engraving and Printing certified proofs and the Treasury Department collection of United States currency. Using a combination of proofs and issued notes, a nearly complete type set of high-denomination currency was compiled. Notably missing are several types of Compound and Interest Bearing Notes. Printed during the early to mid-1860s on very thin paper, these high-denomination notes are virtually non-existent. Their issuance predates the BEP's responsibility for U.S. currency, so it is fortunate that any proofs exist in the current archives.| Value | Type | Series | Friedberg number | Image | Portrait/engraving | Comments |
| $500 | LT | 1862–63 | Fr.183c | Albert Gallatin | 4 known 7 known | |
| $500 | LT | 1869 | Fr.184 | John Quincy Adams Justice | 4 known | |
| $500 | LT | 1874–78 | Fr.185b | Joseph Mansfield Victory | ||
| $500 | LT | 1880 | Fr.185l | Joseph Mansfield Victory | 5 known | |
| $500 | CITN | 1864 | Fr.194a Proof | Standard Bearer New Ironsides | Unknown | |
| $500 | SC | 1878 | Fr.345a | Charles Sumner | Unique | |
| $500 | SC | 1880 | Fr.345c | Charles Sumner | 5 known 7 known | |
| $500 | TN | 1891 | Fr.379 Proof | William Tecumseh Sherman | None issued | |
| $500 | NBN | 1865–75 | Fr.464 | :File:BEP-SMILLIE -Civilization.jpg|Civilization Sirius arriving in New York Surrender of General Burgoyne | 2 known 3 known | |
| $500 | FRN | 1918 | Fr.1132d | John Marshall de Soto discovering the Mississippi | ||
| $500 | GC | 1863 | Fr.1166d Proof | Eagle with shield or E Pluribus Unum | Unknown | |
| $500 | GC | 1870–75 | Fr.1166i | Abraham Lincoln | Unique | |
| $500 | GC | 1882–1922 | Fr.1216a | Abraham Lincoln | ||
| $500 | FRN | 1928–34 | Fr.2200g | William McKinley | ||
| $500 | GC | 1928 | Fr.2407 | William McKinley | ||
| $1,000 | LT | 1862–63 | Fr.186e | Robert Morris | Unique 5 known | |
| $1,000 | LT | 1869 | Fr.186f Proof | DeWitt Clinton | 2 known | |
| $1,000 | LT | 1878 | Fr.187a | DeWitt Clinton Columbus in his study | ||
| $1,000 | LT | 1880 | Fr.187k | DeWitt Clinton Columbus in his study | 4 known ~20–25 known | |
| $1,000 | IBN | 1863 | Fr.201 Proof | :File:BEP--Justice.jpg|Justice ; Liberty | Unknown | |
| $1,000 | IBN | 1863 | Fr.206 Proof | :File:BEP--Guerriere and Constitution.jpg|Guerriere and the Constitution and Discovery of the Mississippi by De Soto | Unknown | |
| $1,000 | SC | 1878 | Fr.346a Proof | William Marcy | Unknown | |
| $1,000 | SC | 1880 | Fr.346d | William Marcy | 5 known 5 known | |
| $1,000 | SC | 1891 | Fr.346e | William Marcy Liberty | 2 known | |
| $1,000 | TN | 1890 | Fr.379a | George Meade | 5 known 7 known | |
| $1,000 | TN | 1891 | Fr.379c | George Meade | 2 known 3 known | |
| $1,000 | NBN | 1865–75 | Fr.465 Proof | :File:BEP-JONES-Scott Entering City of Mexico.jpg|Scott entering City of Mexico United States Capitol :File:BEP-DELNOCE & GIRSCH-Washington Resigning his Commission.jpg|Washington resigning his commission | Unknown | |
| $1,000 | FRN | 1918 | Fr.1133d | Alexander Hamilton Eagle | ||
| $1,000 | GC | 1863 | Fr.1166e Proof | Eagle with shield or E Pluribus Unum Justice with scales | Unique | |
| $1,000 | GC | 1870–75 | Fr.1166o Proof | Alexander Hamilton | Unique | |
| $1,000 | GC | 1882 | Fr.1218g | Alexander Hamilton | ||
| $1,000 | GC | 1907–22 | Fr.1219 | Alexander Hamilton | ||
| $1,000 | FRN | 1928–34 | Fr.2210g | Grover Cleveland | ||
| $1,000 | GC | 1928 | Fr.2408 | Grover Cleveland | ||
| $1,000 | GC | 1934 | Fr.2409 | Grover Cleveland | ||
| $5,000 | LT | 1878 | Fr.188 Proof | James Madison Eagle | All notes have been redeemed, none outstanding | |
| $5,000 | IBN | 1863 | Fr.202 Proof | :File:BEP-DELNOCE-The Altar of Liberty.jpg|The Altar of Liberty | Unknown | |
| $5,000 | IBN | 1865 | Fr.212h Proof | Justice New Ironsides | ||
| $5,000 | FRN | 1918 | Fr.1134d | James Madison Washington resigning his commission | Unique 5 known | |
| $5,000 | GC | 1863 | Fr.1166f Proof | Eagle with shield or E Pluribus Unum Female | Unique | |
| $5,000 | GC | 1870–75 | Fr.1166k Proof | James Madison | Unknown | |
| $5,000 | GC | 1882 | Fr.1221a Proof | James Madison | Two known | |
| $5,000 | FRN | 1928–34 | Fr.2220g | James Madison | ||
| $5,000 | GC | 1928 | Fr.2410 | James Madison | ||
| $10,000 | LT | 1878 | Fr.189 Proof | Andrew Jackson | All notes have been redeemed, none outstanding | |
| $10,000 | FRN | 1918 | Fr.1135d | Salmon Chase; Embarkation of the Pilgrims | Unique 5 known | |
| $10,000 | GC | 1863 | Fr.1166g Proof | Eagle with shield or E Pluribus Unum | Unknown | |
| $10,000 | GC | 1870–75 | Fr.1166l Proof | Andrew Jackson | Unique | |
| $10,000 | GC | 1882 | Fr.1223a Proof | Andrew Jackson | Two known | |
| $10,000 | GC | 1900 | Fr.1225 | Andrew Jackson | ||
| $10,000 | FRN | 1928–34 | Fr.2230b | Salmon P. Chase | ||
| $10,000 | GC | 1928 | Fr.2411 | Salmon P. Chase | ||
| $10,000 | GC | 1934 | Fr.2412 | Salmon P. Chase | ||
| $100,000 | GC | 1934 | Fr.2413 | Woodrow Wilson Reverse | Was never in circulation, therefore cannot legally be held |