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Mad writer Frank Jacobs said that the magazine ran afoul of the US Secret Service because the $3 bill was accepted by change machines at casinos. [4] The United States has never issued a million dollar bill. However, many businesses print million dollar bills for sale as novelties. Such bills do not assert that they are legal tender.
[nb 1] 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 [update] , 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).
One-thousand-dollar United States Note from the series of 1862–63 at Greenback (money), by the American Bank Note Company Ten-dollar interest bearing note from the series of 1864 , by the American Bank Note Company
As a way of honoring more presidents, the U.S. Mint began issuing Presidential Dollar coins in the 2000s. Most are worth about face value, but a couple are valued in six figures due to errors .
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The denominations issued were $1, $2, $5, $10, $20, $50, $100, $500 and $1,000. The $1, $2, $500 and $1,000 notes were only issued in large size until 1882. The $1 and $2 notes are common from most issuing banks. Only three remaining examples of the $500 note are known, with one held privately; the $1,000 note is unknown to exist.
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In 1861, in fact until the mid-1870s, the Treasury Department lacked the facilities or infrastructure to engrave and print the bulk of it financial paper and therefore relied on external contracts with private bank note companies.