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1861: Three-year 100-dollar Interest Bearing Notes were issued that paid 7.3% interest per year. These notes were not primarily designed to circulate and were payable to the original purchaser of the dollar bill. The obverse of the note featured a portrait of General Winfield Scott. 1862: The first $100 United States Note was issued. [3]
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The next series was Series 1918, which contained large-size notes in denominations of $500 bill with John Marshall, the $1,000 bill with Alexander Hamilton, the $5,000 bill with James Madison, and the $10,000 bill with Salmon Chase. One dollar bills featuring George Washington (which were all Silver Certificates) came in Series 1923, as did red ...
In 1945, the Treasury stopped printing $500 and $1,000 bills; and, in 1969, it recalled all remaining $1,000 bills, $5,000 bills and $10,000 bills because of their overwhelming prevalence in money ...
In 1969, the federal government retired the $500, $1,000, $5,000 and $10,000 bills, leaving $100 as the largest denomination of currency in circulation. However, the C-note had more than a century ...
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As of May 30, 2009, only 336 $10,000 bills were known to exist, along with 342 $5,000 bills, 165,372 $1,000 bills and fewer than 75,000 $500 bills (of over 900,000 printed). [ 12 ] [ 13 ] 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.
Bottom line The large denominations that once existed, ranging from $500 to a staggering $100,000, were taken out of general circulation due to minimal usage in 1969.