Large denominations of United States currency greater than were circulated by the United States Treasury until 1969. Since then, U.S. dollar banknotes have been issued in seven denominations: $1, $2, $5, $10, $20, $50, and $100.
Overview and history Large-denomination currency (i.e., banknotes with a face value of or higher)Friedberg & Friedberg, 2013, pp. 232–35. had been used in the United States since the late 18th century.Friedberg & Friedberg, 2013, p. 22. The first note was issued by North Carolina, authorized by legislation dated May 10, 1780.Newman, 2008, p. 326. Virginia quickly followed suit and authorized the printing of and notes on October 16, 1780,Newman, 2008, p. 454. and notes on May 7, 1781.Newman, 2008, p. 455. High-denomination treasury notes were issued; for example, during the War of 1812 ($1,000 notes authorized by an act dated June 30, 1812).Friedberg & Friedberg, 2013, p. 32. During the American Civil War, Confederate currency included and notes.Fricke, 2014, p. 122 & 124. The earliest (1861) federal banknotes included high-denomination notes such as three-year interest-bearing notes of , , and , authorized by Congress on July 17, 1861.United States Congress. Act of July, 17 1861 Chapter V. Washington D.C.: 1861 In total, 11 different types of U.S. currency were issued in high-denomination notes across nearly 20 different series dates. The obverse designs of United States banknotes generally depict either historical figures, allegorical figures symbolizing significant concepts (e.g., liberty, justice), or both. The reverse designs range from abstract scroll-work with ornate denomination identifiers to reproductions of historical art works.
Public versus institutional use Series 1934 gold certificates ($100; ; ; ; and ) were issued after the gold standard was repealed, and more than a small amount of personal gold was compulsorily confiscated by order of President Franklin Roosevelt on March 9, 1933 (see United States Executive Order 6102). Thus, the series 1934 notes were used only for intragovernmental (i.e., Federal Reserve Bank) transactions and were not issued to the public. This series was discontinued in 1940. The series 1928 gold certificate reverse was printed in black and green (see History of the United States dollar).
Passive retirement Although they remain legal tender in the United States, high-denomination bills were last printed on December 27, 1945, and were officially discontinued on July 14, 1969, by the Federal Reserve System because of "lack of use". The lower production and notes had effectively disappeared well before then.
Beginning in July 1969, the Federal Reserve began removing high-denomination currency from circulation and destroying any large bills returned by banks. , only 336 bills were known to exist, along with 342 bills, 165,372 bills and fewer than 75,000 bills (of over 900,000 printed). As to "cereal boxes" as a repository for ill-gotten bribes, compare "Little Tin Box" in the musical Fiorello!. Due to their rarity, collectors pay considerably more than the face value of the bills to acquire them, and some are in museums.
These larger denomination bills were mainly used by banks and the federal government for large financial transactions, which was especially true for gold certificates from 1865 to 1934. The introduction of electronic money systems has made large-scale cash transactions mostly obsolete. Concerns about counterfeiting and the use of cash for unlawful activities such as drug trafficking and money laundering have also caused the U.S. government not to reissue any large-denomination currency.
According to the U.S. Department of Treasury website, "The present denominations of our currency in production are , , , , , and . The purpose of the United States currency system is to serve the needs of the public and these denominations meet that goal. Neither the Department of the Treasury nor the Federal Reserve System has any plans to change the denominations in use today."
Recent proposals In June 2024, Representative Paul Gosar introduced a bill into congress to force the Federal Reserve to restart issuance of $500 bills and adopt a new design that would feature then former President Donald Trump in its portrait. Subsequently, in 2025 a bill was introduced in Congress to issue a $250 note, also with Trump's portrait."Bill calls for $250 note to be issued with Trump portrait", Coin World, March 11, 2025, accessed May 19, 2025
High-denomination banknote issuing data + Key to high denomination banknote type abbreviations Abbr Type Size Series dates High denomination series date Comments LT Legal tender Large 1862–1923 1862186318691874187518781880 18621863186918781880 1878 1878 – CITN Compound interest treasury note Exception 1863–1864 18631864 1864 – – – IBN Interest bearing note Exception 1861–1865 1861186318641865 1861186318641865 1861186318641865 – – SC Silver certificate Large 1878–1923 18781880 187818801891 – – – TN Treasury note Large 1890–1891 1891 18901891 – – – NBN National bank note Large 1865–1875 18651875 18651875 – – – FRN Federal reserve note Large 1914–1918 1918 1918 1918 1918 – NGBN National gold bank note Large 1870–1883 1870 – – – – GC Gold certificate Large 1865–1922 18651870187518821922 186518701875188219071922 1865187018821888 186518701875188218881900 – FRN Federal reserve note Small 1928–present 19281934 19281934 19281934 19281934 – GC Gold certificate Small 1928–1934 1928 19281934 1928 19281934 1934
Table of banknotes The National Numismatic Collection at the Smithsonian Institution contains the Bureau of Engraving and Printing (BEP) certified proofs and the Treasury Department collection of United States currency. Using a combination of proofs and issued notes, a nearly complete type set of high-denomination currency was compiled. Notably missing are several types of Compound and Interest Bearing Notes. Printed during the early to mid-1860s on very thin paper, these high-denomination notes are virtually non-existent. Their issuance (1861–65) predates the BEP's responsibility for U.S. currency (1870s), so very few proofs exist in the current archives.