So how many of these large denomination bills are in circulation?
Link to relevant Staff Report: Whose face is on the $1,000 bill? – CKDH
There really aren’t any $1000 bills in circulation. They still exist. But they don’t circulate. The reason being that we coin dealers have been paying the public(and bank tellers) a premium over the face value since 1968(when they were withdrawn).
In the period 1970-1995, we used to buy them for $1025-1100 and sell them for $1075-1250 or so.
Within the last 5 years the premiums have changed, and now we pay $1100-1250 and sell for $1200-1400. All prices are for decent average condition.
If you truly were asking how many $1000 bill still exist? , I’ll try to find you an answer. The answer is probably in the thousands.
That is extremely interesting. I would like to know how many exist total, and if they don’t circulate then do only collectors have them? Also, what about the $5,000 and $10,000 bills?
I know they’re all out of circulation now, but I remember an exhibit of big bills that included, if I recall correctly, a $100,000 bill with the portrait of Grant.
$5000 and $10000 bills are WAY scarcer than $1000’s. To give you an idea of scarcity, while the $1000 sells for a small increase over its face value, a $5000 is worth $20, 000.
I don’t have any reference books at home tonight. If I get ambitious tomorrow at work, and if I remember, I’ll try to get you a statistic about how many conceivably might still be outstanding.
Yes, basically the existing ones are in the hands of dealers and collectors.
Woodrow Wilson is on the $100k note. It is a federal reserve note, and does not circulate. No private collector has one legally.
Grant is on the $50.
My bad. It has been 40 years since I saw that exhibit, and I haven’t had a fifty since then! I like Woodrow better anyway.
But it brings up another interesting question: why do these federal reserve notes even exist anymore? Surely no fund transfers at that level are done with hard currency anymore.
And no. I’m Spartacus.
Thanks,
Jeff
I don’t think they have printed the 100k notes since the 30s. Funds are all wired nowadays.
The largest denomination that you, the public, could have EVER gotten from a bank was a $10,000. note. And 99% of the public didn’t have the money to get one back then.
The $100,000 note was only legal in bank-to-bank transactions.
I was too busy to look up the potential surviving amount of $1000 bill still extant. I’ll try again Monday.
Indeed, there was only one printing of the $100,000 notes, ever, from December 18, 1934 through January 9, 1935. And they were not Federal Reserve Notes, but Gold Certificates; they were used by the Federal Reserve, not issued.
[hijack]Why on Earth would anyone prefer a freewheeling SOB like Woodrow Wilson to Grant. I admit that Grant was an incompetent president, but I generally prefer the incompetent to the downright evil.[/hijack]
<< I admit that Grant was an incompetent … >>
Hey, Grant wasn’t that incompetent, he gave some mighty fine performances, like in NORTH BY NORTHWEST or BRINGING UP BABY, and …
yeah, woodrow wilson sure was evil.
The Mandalay Bay casino in Las Vegas has somebody’s $40 million collection of rare coins and currency on display, including a $100,000 bill. If you don’t gamble and don’t like shows featuring topless JV cheerleader types, it’s one of the more interesting sights in Sin City.
Grant had the better beard. QED.
There’s usually a few $1000 bills for auction on Ebay, if you want one. I’ve never looked for higher denominations (well, except for right now), but there don’t seem to be any at the moment.
“JV”?
Junior Varsity. An athletic team consiting of students in the lower two years of American High School (age 14-16). JV Cheerleaders are very young girls.
Thanks!