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The reason so many $50 bills are making the rounds these days mainly has to do with the COVID-19 pandemic, when people started hoarding cash — not so much because they planned to spend it, but ...
The United States fifty-dollar bill (US$50) is a denomination of United States currency. The 18th U.S. president (1869-1877), Ulysses S. Grant, is featured on the obverse, while the U.S. Capitol is featured on the reverse. All current-issue $50 bills are Federal Reserve Notes.
Beginning in July 1969, the Federal Reserve began removing high-denomination currency from circulation and destroying any large bills returned by banks. [11] 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).
Until the pandemic, the $50 had been one of the rarest bills ordered for years, save for the $2 bill. But for 2021 and 2022, the Fed ordered up mor e $50s than $10s and $5s.
Fifty-dollar bills have the second-lowest circulation after the $2 bill. A guide that accompanied the Old Money Prices blog offered values on $50 bills from 1862 to 1923.
They were issued from 1870 to 1875 in denominations of $5, $10, $20, $50, $100 and $500. They are all rare with the $5 being by far the most common, with 427 examples known, and the $50 the rarest, with only 7 examples known. The $500 note is not known to exist.
The new $20 bills entered circulation on October 9, 2003, and the new $50 bills on September 28, 2004. The new $10 notes were introduced in 2006 and redesigned $5 bills began to circulate March 13, 2008. Each has subtle elements of different colors but are still primarily green and black.
In the banking world, some currency denominations are more popular than others. While most people are familiar with the common $1, $5, $10 and $20 bills, the humble $50 often goes overlooked. Find...