The Layman’s Guide To 1000 Dollar Bill

The Layman's Guide To 1000 Dollar BillThe $1,000 dollar bill is something that very few people will see let alone own in their lifetime; and even if they do, they may have a little trouble spending it as outlets will struggle to confirm whether the note is genuine or not.

The Important History

The bill itself features Grover Cleveland (the 22nd and 24th U.S. President, who served from 1885 to 89, and 1893 to 97 respectively. The wording (unsurprisingly) states “One Thousand Dollars” and has seen three different designs.

It was first printed as a small Federal Reserve note in 1918, 1934 and 1934A; its second print in 1928 and 1934 saw the bill turned into a gold style certificate; as of 2009 there were 165,372 $1,000 dollar bills in circulation, a surprisingly high figure for such a high value note.

As of today however the note is discontinued, after having seen its last printing nearly 70 years ago in 1934; they were withdrawn from circulation slowly from 1969.

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Originally they were intended for use between banks and other organizations for large value transactions; they were never meant to become publicly circulated notes. In fact, in 1933 a $1,000 bill could buy you 62 ounces of gold, and in todays value would be worth a staggering $62,000.

Whilst many believe the $1000 bill to be the largest one in circulation it is in fact superseded by the $5,000, $10,000 and $100,000 bills.

The $1000 Bill As A Collector’s Item

Given the spasticity of the $1000 dollar bill, unsurprisingly they have a collector’s value. For those that are in extremely good condition you can expect to pay around $4,000 dollars (yes, that’s quadruple their face value!); however for one that is of that age, and for it to be in fine condition, is a rare find indeed. However you can purchase $1000 bills at lesser values, if you are willing to compromise on quality.

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Additionally it should be noted that many an unsuspecting $1000 bill owner has visited the bank to get them exchanged, and happily wandered out with their $1000 in other denominations only to find the true value of their note at a later date!

Unsurprisingly for the $5000, $10,000 and $100,000 bills the collector’s value goes up considerably. Given that there are only 342 of the former, 3 of the $10,000 bills and an extremely meagre 7 of the $100,000 bills, these notes are a lot rarer that their $5000 counterpart.

If you’re thinking about buying any of these, then you may have to think again, as currently the value for the $5000 bill is around $8,000 -$16,000 and the $10,000 and $100,000 dollars bills do not have set prices given their rarity. You will need to search out an auction to gain an idea of value. You can buy these via ebay.com

If you’re think of purchasing one, or even searching out the more exclusive $5000 and $100,000 bills then you should do your research into how to authenticate such a bill. You should also do through research in who you’re buying from, how long they’ve been in business and what sort of reputation they have as a collectibles seller.

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Mike

I love helping people improve their financial situation. I hope that you find here information that will change and enrich your life! Feel free to leave comments, recommend my articles to other people and like this site on social networks. Thanks a lot and take care! This site is for INFORMATIONAL AND ENTERTAINMENT PURPOSES ONLY. Do your own due diligence and seek professional advice when you invest. I get lots of comments on my posts and I can't validate the facts stated there.

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  • MillyM

    Oh, wow. For a moment I thought that they were going to be printed again. I had heard that they were only printed for a short time, but now I know how long. Reminds me that some people wanted to print a $1 Trillion bill for the national debt… as though that would help anything!

    • april

      I would welcome it to be printed. I think it’d make money a lot easier to handle, then again I doubt I’d ever get a $1000 bill to begin with. Would be very nice though. :)

  • nowya882

    I had no idea there was such a thing as a $1000 bill. I wish I had one though, haha! It’s pretty weird that they made a $1000 bill. Have they made any bills higher than that? I heard a while back that there was a $1 million dollar bill out there, but I wasn’t sure if that was a joke or not.

  • Hank

    My father’s friend had a $1000 bill many years ago. He of course made some money off of it and it’s gone now. I was hoping my father would pay him $1000 for it just so I can have it when I got older. It’s pretty cool that money like this was actually done, makes you wonder if the economy was hoping people would be making this kind of money in the future.

  • Anthony

    I knew there was $1000 bills, but I had no idea there was actually anything higher above that. It would be really wonderful to have a $100,000 bill though, would make life a lot easier. Sadly, I doubt I could afford to buy any $1000 bills or anything higher.

    • Phil

      I don’t know how much easier a $100,000 bill would make your life. After all, where in the world would you ever be able to break it? It would be like an albatross around your neck, having all of that money and nowhere possible to spend it, lol.

  • joel

    I imagine a $1000 bill would be fairly hard to come by these days. My father collected money in the past and he came by a $1000 bill by chance, must of been some thrift shop or something, he purchased it and never sold it off. He still has it.

  • Lacey

    Oh wow, that is so cool! I will definitely share this with my friends. :-)

  • Bailey Rahm

    What a cool history! I really love reading about different currency notes and how they came into being.

    I had no idea these high denomination bills were so rare. Seriously only seven $100,000 bills are in existence? I wonder where they are, and if they’re all collectible or if any are being circulated.

  • Jessica K. Parker

    My grandfather collected unique and unusual currency. I believe he had a $1,000 bill. He had lots of silver notes and old bills – I remember that much. When he passed away the collection was given to my uncle. I hope he takes care of them because they were my grandfather’s pride and joy!

  • K. E. Dare

    Alright, you’ve sparked my interest!

    I looked up which presidents were on these large bills and found something that surprised me. The $10,000 bill does not feature a president. Instead it features Salmon P. Chase – the sixth U.S. Chief Justice. Interesting!

    Are he and Franklin the only two individuals featured on bills to have never served as president?

  • Marissa Handler

    I’m a little surprised to see there are so many $1,000 bills in circulation, especially considering they have not been printed in over 70 years. I kind of wonder if they’ll ever print a new $1,000 bill. It would be interesting, and I’m sure the collectors would love to add another to their collections.

  • Ed Roth

    Do you think anyone out there owns all three different designs? I bet someone does, though they’d have to be a very serious collector.

    I don’t think I could ever collect currency… I’d have too hard a time ever parting with it. Some of these bills are just way too cool to cash out.

  • Xavier

    I’m surprised that there are so many $1000 bills out there – I’ve never seen a single one! It would be exciting to have one in my collection, even though that’s quite a bit of money to have just sitting around.