[WTB] US $500.00 Bill

[Kluge]

I never understood coin/currency collecting, how can a $500 note be worth more than $500? 

It was worth >$8.5k 2014 dollars when it was printed! $900 is a steal!

[eoakland]

in regards to a US $500 bill, am i way off base to say you can walk into your local bank branch and request one  ?  i have heard you can do so, however they don't have them on the spot, they order them.  can anyone tell me if this info is wrong ? 

[Blazed]

They were last made in the 1940's...banks would destroy them if received. Plus why would anyone spend one if it is worth more than face value.

[eoakland]

They were last made in the 1940's...banks would destroy them if received. Plus why would anyone spend one if it is worth more than face value.

thank you for clarifying that.  there is also a 5k, 10k, 100k bill too.  pretty wild.  i have a hard enough time keeping a 100 bill let alone a higher denomination bill.

[Blazed]

Well you are allowed to own 500, 1,000, and 5,000 bills. The 10,000 and 100,000 are not legal to own...plus they are no longer legal tender.

[xjack]

Well you are allowed to own 500, 1,000, and 5,000 bills. The 10,000 and 100,000 are not legal to own...plus they are no longer legal tender.

It is legal to own a $10,000.  The 1928 and 1934 Series $10,000 is absolutely still legal tender.  Don't walk it into the bank, they generally can sell for six figures.

$100,000 bill was never used in commercial banking, and is thus illegal to own.

[Kluge]

$100,000 bill was never used in commercial banking, and is thus illegal to own.

What's the story there? Were they printed just to be physically accounted for when certain types of other IOUs were exchanged?

[xjack]

$100,000 bill was never used in commercial banking, and is thus illegal to own.

What's the story there? Were they printed just to be physically accounted for when certain types of other IOUs were exchanged?

Used for transactions between federal reserve banks when the gold standard was still in place.  The gold was in Knox or NY Fed, the bills moved between fed banks.

[Michail1]

in regards to a US $500 bill, am i way off base to say you can walk into your local bank branch and request one  ?  i have heard you can do so, however they don't have them on the spot, they order them.  can anyone tell me if this info is wrong ? 

Yes, this is wrong.

Only thing you can request a bank to order is Eisenhower dollars and $2 bills.

$500, $1000 bills (although still considered legal tender) are not orderable from a bank.   You CAN still bring them to a bank to deposit and get $500/$1000 for them, but you would be (not smart) to do that since they are worth so much more to any collector (even on ebay).  Once a bank receives such a bill from some idiot bringing it in, they are required to call the Treasury in order to have it picked up.

Hell, if you have enough money to throw around, you can still buy a $5,000 and $10,000 bill.   Highest to exist is a $100,000 bill, but was never issued to public.

I work with a guy that had seen $500 and $1000 bills before.  He is 65.  He worked at the Horse Races as a teller.  So, he accepted them  on rare occasion for betting.

The high range in prices on the bills are due to their quality and issuing rarity.

Buying from ebay?   Ick.   The issue is that you take the risk AND if you're getting ungraded, then you don't know the actual quality.

[marhjan]

My Grandfather used to have a few $1000 bills - I saw them when I was a did.  He must have spent them or something along the way as he and my Nana both passed away and we didn't find them when we cleaned out the house.  I remember thinking it was SOOOO much money when I was a kid.  Not sure if a coincidence but he was big at the local track - owned a few horses on the fair circuit and was a fairly big better.