In the United States, the largest bill still in use today is the $100 bill. However, the U.S. once printed much larger denominations. These high-value bills were mainly used by banks and large businesses for transactions rather than everyday purchases. Let’s take a closer look at the five largest bills ever printed in U.S. history.
1. The $500 Bill
Portrait: William McKinley
Year Introduced: 1918
Purpose: Used for large transactions between banks
Discontinuation: 1969
The $500 bill featured William McKinley, the 25th President of the United States. It was mainly used by banks for significant financial exchanges. After 1969, the government stopped printing bills larger than $100 to prevent illegal activities like money laundering.
2. The $1,000 Bill
Portrait: Alexander Hamilton and Grover Cleveland (two versions)
Year Introduced: 1918
Purpose: Used for major financial transactions
Discontinuation: 1969
The $1,000 bill had two versions: one with Alexander Hamilton and another with Grover Cleveland. It was used for big transactions and is no longer in use. Today, surviving bills are very rare and highly valuable, often selling for tens of thousands of dollars at auctions.
3. The $5,000 Bill
Portrait: James Madison
Year Introduced: 1918
Purpose: Used for bank-to-bank transfers
Discontinuation: 1969
The $5,000 bill featured James Madison, the fourth U.S. President. It was one of the rarest bills even when it was in circulation and was mainly used for transactions between banks. Today, only a few of these bills still exist, making them highly prized by collectors.
4. The $10,000 Bill
Portrait: Salmon P. Chase
Year Introduced: 1918
Purpose: Used for large financial transactions
Discontinuation: 1969
Salmon P. Chase, who served as Treasury Secretary under President Abraham Lincoln, appeared on the $10,000 bill. It was used mainly for transactions between Federal Reserve Banks. This bill is now extremely valuable, with some selling for six-figure prices at auctions.
5. The $100,000 Bill
Portrait: Woodrow Wilson
Year Introduced: 1934
Purpose: Exclusively for transactions within the Federal Reserve system
Discontinuation: Never available to the public
The $100,000 bill, featuring President Woodrow Wilson, was the largest denomination ever printed by the U.S. government. It was only used for transfers between Federal Reserve Banks and was never available to the public. Collectors are not allowed to own these bills.
Why Were These Large Bills Discontinued?
In 1969, the U.S. government stopped printing high-denomination bills like the $500, $1,000, $5,000, and $10,000 bills. This decision was made to prevent illegal activities such as money laundering. Advances in secure electronic banking made large bills less necessary. By limiting the highest denomination to $100, the government aimed to increase transparency in financial transactions.
Key Facts About the Largest U.S. Bills
| Denomination | Portrait | Year Introduced | Purpose | Discontinuation |
|---|---|---|---|---|
| $500 | William McKinley | 1918 | Bank transactions | 1969 |
| $1,000 | Alexander Hamilton / Grover Cleveland | 1918 | Large financial transactions | 1969 |
| $5,000 | James Madison | 1918 | Interbank transfers | 1969 |
| $10,000 | Salmon P. Chase | 1918 | Federal Reserve transfers | 1969 |
| $100,000 | Woodrow Wilson | 1934 | Federal Reserve internal use | 1934
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1. Why were large bills like the $500 and $1,000 discontinued?
The U.S. government discontinued these bills in 1969 to help prevent illegal activities such as money laundering.
2. Are any of these large bills still in circulation?
No, all high-denomination bills were discontinued in 1969. However, some bills are still held by collectors.
3. Can you own a $100,000 bill?
No, the $100,000 bill was only used for transactions within the Federal Reserve system and was never available to the public.
4. How much are old $1,000 bills worth today?
Old $1,000 bills can be worth tens of thousands of dollars at auction, depending on their condition.
5. What was the highest bill printed by the U.S.?
The highest bill ever printed by the U.S. was the $100,000 bill, which featured President Woodrow Wilson.
