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You've got a stash of old US dollar bills and you're wondering what they're worth? Well, you're in luck because I've got the lowdown on the most valuable ones.
The highest denomination of US currency ever printed was the $100,000 gold certificate, which was issued in 1934. It's a collector's dream.
Some of the rarest and most valuable US dollar bills are the $500 and $1,000 bills, which were last printed in 1945. They feature a portrait of President William McKinley.
These large denomination bills were used for transactions between banks and were rarely seen by the general public, which is why they're so valuable today.
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History of Large Denominations
The $5,000 bill was released over 100 years ago and features a Founding Father we no longer see on our bills.
James Madison, the "Father of the Constitution", was on the $5,000 Series 1918 Blue Seal bill, which also showed then-General George Washington resigning his commission as commander-in-chief of the Continental Army.
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The $10,000 bill featured President Abraham Lincoln's Secretary of Treasury, who was only in office for three years but had his face on multiple printings.
Silver Certificates, authorized in 1878, were backed by an equivalent dollar amount of silver deposited into the U.S. Treasury, making them payable to the bearer upon demand for the note's face value in silver.
$500 Bill
The $500 bill is a notable denomination that has had its fair share of unique features. It's not always easy to spot, as not all $500 bills feature a president on the front.
One limited edition $500 bill actually features a Chief Justice instead. This is a great example of how the design of these large denomination bills can vary.
The $500 Series 1918 Blue Seal is a particularly interesting example, featuring John Marshall, the fourth Chief Justice of the United States, on the front.
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$10,000 1928, 1934
The $10,000 bill of 1928 and 1934 was a rare and significant note in U.S. currency history.
The front of these bills features a portrait of Salmon P. Chase, who served as President Lincoln's Secretary of the Treasury from 1861 to 1864.
These bills were part of a series that also included a $10,000 bill produced in 1918, which also featured Chase's likeness on the front.
The back of the 1928 and 1934 bills is quite simple, with the phrase "The United States of America — Ten Thousand Dollars — 10,000" printed on it.
Just like the 1918 $10,000 bill, the 1928 and 1934 bills also bear the likeness of Salmon P. Chase on the front, making him a familiar face on these high-denomination notes.
The fact that Chase's face was on multiple $10,000 bill printings is a testament to his significant role in U.S. history and the importance of these large denomination notes.
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1878-1923
The period from 1878 to 1923 was a significant time for large denominations of U.S. paper currency. Large-Size Silver Certificates were authorized by Congress in 1878 due to the discovery of silver in the American West.
These certificates were backed by an equivalent dollar amount of silver deposited into the U.S. Treasury. The surplus of silver led to their creation.
Their attractive designs have made Silver Certificates one of the most popular types of U.S. paper money to collect.
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Martha Washington 1886
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The Martha Washington 1886 Silver Certificate is a fascinating piece of history. It's the first $1 Silver Certificate ever issued. A must-have for every collection, this note features a portrait of Martha Washington on the face. A highly ornate floral design appears on the back. The note has a large red seal and blue serial numbers.
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Black Eagle 1899
The "Black Eagle" Silver Certificate from Series 1899 is a unique note, featuring an engraving with an obligation on the back. This certificate is part of the larger history of large denominations.
The vignette on this note is titled "Eagle of the Capitol", but it's nicknamed "Black Eagle." The portraits of Lincoln and Grant are prominently displayed beneath the denomination on the face.
The note shown is from Series 1899, and it has a distinctive blue seal and serial numbers. This is a notable characteristic of this particular series.
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Treasury 1890-1891
In 1890, the Treasury Department introduced Large-Size Treasury Notes, also known as Coin Notes, to pay for silver bullion purchases.
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These notes stated that the bearer was to be paid on demand the note's face value in coin, with the decision of whether it was to be silver or gold left to the Secretary of the Treasury.
The Treasury paid for its silver bullion purchases with these notes, which could then be redeemed for gold coin. This process almost bankrupted the Treasury in 1893.
The face of the $1 Treasury Note – Series 1890 features a portrait of Edwin M. Stanton, who served as Secretary of War under both President Abraham Lincoln and President Andrew Johnson.
Rare and Collectible Currency
Old US dollar bills can be a treasure trove of collectible currency, but it's essential to know what you're looking at.
Some old US paper money may be worth around face value, but others can be worth much more.
To determine the value of your old currency, you can use rare currency price guides like PMG World Paper Money Price Guide or the Greysheet Currency Price Guide.
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These guides provide estimated values, but keep in mind that it's difficult to tell the condition of your paper money unless you're an experienced collector.
The values listed in these guides aren't always what someone will pay for your currency, but they're a useful starting point.
You should also consider the rarity and condition of your currency when determining its value.
If your old currency has collector value, it could be worth more than face value.
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Legal Tender and National Bank Notes
Legal Tender Notes were first authorized in 1862 and are the longest-lived type of U.S. paper money. Many collectors have given them popular nicknames due to their distinctive designs.
These notes were issued by the federal government to help finance the Civil War. The government decided to "charter" banks to establish a national banking system and raise money for the war. Local and regional banks became chartered when they purchased government bonds and deposited them into the Treasury to back the "paper" they issued.
The $5 Legal Tender Note, also known as the "Woodchopper" Note, features a famous vignette of a woodchopper and a portrait of Andrew Jackson. The note has an ornately engraved design on the back and a red scalloped seal and serial numbers.
Legal Tender and National Bank Notes
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Legal Tender Notes were first authorized in 1862 and are the longest-lived type of U.S. paper money.
These notes have some pretty cool nicknames among collectors, thanks to their distinctive designs. The "$10 Legal Tender "Rainbow" Note – Series 1869" is a great example of this, with its unusual coloration and engraved portrait of Daniel Webster.
The face of the "$10 Legal Tender "Rainbow" Note – Series 1869" also features a vignette depicting the Indian princess Pocahontas, which adds to its unique charm. The note's intricate engraved design on the back is another notable feature.
National Bank Notes, on the other hand, were authorized by Federal Acts allowing qualified banks to issue their own currency. These large-size notes were issued by chartered banks from 1863 to 1929.
Some National Bank Notes, like the "$2 "Lazy 2" National Bank Note – Series 1875", have become famous among collectors due to their unique designs. The "Lazy 2" or "Lazy Deuce" nickname comes from the large numeral 2 lying on its side on the face of the note.
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$10 Bison 1901
The $10 Bison 1901 note is a unique piece of American currency history. It features an American bison between portraits of Lewis and Clark on the front, and a female figure symbolizing Columbia on the back.
The note is from Series 1901, which is a distinctive characteristic of this particular issue. The red scalloped seal is another notable feature of this series.
The bison itself is a prominent element of the note's design, and its inclusion reflects the importance of wildlife and exploration in American history.
$5 Back
The "$5 Back" is a unique feature of some Legal Tender and National Bank Notes. A portrait of Ulysses S. Grant appears on the face of the note.
Some notes, like the $5 Silver Certificate from Series 1886, feature a highly detailed engraving of five Morgan silver dollars on the back. This design is a notable aspect of these particular notes.
A large red seal and blue serial numbers can be found on the $5 Silver Certificate from Series 1886, which is a distinctive characteristic of this type of note.
$1 Educational 1896
The $1 Educational Series Silver Certificate from 1896 is a notable note. It features a vignette titled History Instructing Youth on the face, with the Washington Monument and Capitol in the background.
This note has a small red seal and blue serial numbers, which are distinct characteristics of this series. The vignette on the face is a great example of the educational theme.
The Educational Series Silver Certificates were a way to educate the public about American history and government. The note shown is a great representation of this theme.
The back of the note features portraits of George and Martha Washington, which adds to the educational value of the note.
$1 Washington 1923
The $1 Washington 1923 note is a distinctive-looking note featuring a portrait of George Washington on its face. This note is from Series 1923 and has a blue seal and serial numbers.
It's worth noting that the denomination is in an engraved design on the back of this note.
$1 Treasury 1890
The $1 Treasury Note from 1890 is a fascinating piece of history. It features a portrait of Edwin M. Stanton, who served as Secretary of War under Presidents Lincoln and Johnson.
This note has a large brown seal and red serial numbers, making it a distinctive collector's item. The intricate engraved design on the back is a testament to the craftsmanship of the time.
The $1 Treasury Note was part of the Large-Size Treasury Notes, also known as Coin Notes, which were used to pay for silver bullion purchased by the Treasury Department. These notes stated that the bearer was to be paid on demand the note's face value in coin, with the option to redeem it for gold coin.
The redemption of these notes for gold almost bankrupted the Treasury in 1893, highlighting the challenges of managing the nation's finances during this period.
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Federal Reserve Bank Notes
These notes were issued by the twelve individual Federal Reserve Banks, and the obligation to pay the bearer was made by the issuing bank, not the Federal Reserve System itself.
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The Federal Reserve Bank of Chicago was one of the banks that issued these notes, and its $20 note from Series 1915 featured a portrait of President Grover Cleveland on the face.
These notes had a blue seal and serial numbers, and the engraved vignettes on the back portrayed modes of land, sea, and air transportation.
Federal Reserve Bank Notes were a significant part of the country's currency during the early 20th century, and their unique features and designs make them interesting to collectors and historians today.
Gold and Color Variations
The 1934 Gold Certificate Series 1934 $10,000 bill featured a portrait of Salmon P. Chase, who served as the Secretary of the Treasury. This series of gold certificates was the largest denomination ever printed.
The 1907 $100 gold certificate had a distinctive red seal, which was a sign of its high value. The red seal was a symbol of the bill's gold backing.
The 1896 $1 silver certificate had a blue seal, while the 1882 $10 gold certificate had a red seal. These color variations helped to distinguish between different types of currency.
1934 Gold
The 1934 Gold Certificate is a unique note with a high denomination. It's worth noting that this particular certificate was used only for official transactions between Federal Reserve Banks and was not circulated among the general public.
This note features a portrait of Woodrow Wilson, the 28th President of the United States, on the front.
Gold 1882-1928
During the late 19th and early 20th centuries, gold coins underwent significant changes in design and color variations.
In 1882, the United States Mint began producing gold coins with a new design, featuring Lady Liberty on the obverse side.
The 1882 gold coins had a distinctive greenish tint due to the presence of copper in the alloy.
The mint continued to produce gold coins with various color variations until 1928.
The 1928 gold coins had a more subtle gold color with a slight yellowish tint, resulting from the use of a different alloy.
The color variations in gold coins from 1882 to 1928 were largely due to changes in the alloy composition and minting processes.
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Technicolor Gold 1905
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The Technicolor Gold 1905 is a real showstopper. It's considered the most beautiful of all Gold Certificates by collectors.
This note has a bright golden-orange back and gold tinting on a portion of the face. The portrait of George Washington is on the face, while the back shows the Great Seal of the United States.
The note shown is from Series 1905 and has a red seal and serial numbers.
Frequently Asked Questions
Are old dollar bills still accepted?
Yes, old dollar bills are still accepted as legal tender. You can continue using them, even if they're no longer the current design.
What dollar bills are no longer in circulation?
The US no longer issues bills in denominations above $100, but larger bills like $500, $1,000, $5,000, and $10,000 are still legal tender and may still be in circulation.
Are the old $100 dollar bills rare?
Yes, some old $100 bills can be rare due to unique serial numbers, printing errors, or historical significance. Check your bills for patterns like star notes, low serial numbers, or misprints to see if you have a collector's treasure.
Sources
- https://www.frbservices.org/resources/financial-services/cash/faq/coin-currency.html
- https://www.bankrate.com/banking/pictures-of-big-bills-500-1000-5000-10000/
- https://www.istockphoto.com/photos/american-one-hundred-dollar-bill
- https://www.bellevuerarecoins.com/is-old-currency-valuable-how-to-sell/
- https://www.littletoncoin.com/shop/Large-Size-US-Paper-Money
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