The $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 – Who Is On The Bill?
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of today however the note is discontinued, after having seen its last printing nearly 70 years ago in 1934; they were withdrawn from circulation slowly from 1969.
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Godot13 / Smithsonian Institution [Public domain or CC-BY-SA-3.0], via Wikimedia Commons
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Whilst many believe the $1000 bill to be the largest one in circulation it is in fact superseded by the $5,000, $10,000 and $100,000 bills.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 one thousand 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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How Much Is This Bill Worth? Around $4,000
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.
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Where Can I Buy One?
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 or Apmex.
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.