Hear Ye! Since 1998.
Please note: This post is at least 3 years old. Links may be broken, information may be out of date, and the views expressed in the post may no longer be held.
15
Jan 10
Fri

The story behind large-denomination currency

This is still legal tender:


You wouldn’t want to drop it.

Mental Floss writes:

In 1928, the federal government overhauled its system of printing banknotes. It shaved about an inch of length and just under a half of an inch in width off of the bills and issued the new smaller bills in the $1 to $100 denominations with which we’re familiar. However, the Treasury also issued larger denominations. They featured William McKinley ($500), Grover Cleveland ($1,000), James Madison ($5,000), and Salmon P. Chase ($10,000). …

When the Treasury discontinued the bills, they rapidly fell out of circulation. However, a few are still lingering; as of May 2009, there were still 336 $10,000 bills at large. At the same time, Slate reported that there were also 342 $5,000 bills and 165,732 $1,000 bills still floating around.

The large bills are now worth more than their face value, of course.

There was also a $100,000 bill that was printed, but it wasn’t put into general circulation.

  11:14pm  •  Business & Finance  •   •  Tweet This  •  Add a comment

This post has no comments. Add yours below.

Add a Comment

You must be logged in to post a comment.