Do $1,000 dollar bills exist?

Certainly $1,000 bills still exist and there are only about 165,000 of them. Most of them are in museums or in the hands of private collectors. If you are interested in knowing more, we tell you about it below.

History of the $1,000 bill

High-denomination change notes like the $1,000 bill have been circulating in the United States for many years. Thee Continental Congress began issuing them when the American union was barely composed of the original 13 colonies. This occurred from 1,775 to 1,779 and they were used to finance the revolution.

$1,000 dollar billA century later, the federal government reissued them to support the Civil War efforts. At the same time, the Confederacy issued its own version of the $1,000 bill.

Then came the 20th century versions, which we summarize as follows:

  • 1918. The government issues a series of bills with a small size and a blue seal, being more similar to the current ones. There were some in circulation because they were intended for exchange between banks or large purchases, such as real estate. This design had Alexander Hamilton on the front and an eagle on the back.
  • 1928. After 10 years, they released the 'Green Seal' version. On this bank note was the face of President Grover Cleveland, who is the only one to have been in the White House in 2 non-consecutive terms.
  • 1934. This year 2 sets came out, the 1934 and the 1934A, which had a virtually identical design and a pale/lime green seal. According to sources, the last $1000 bill was issued in 1945 and they were discontinued as of 1969.

It should also be remembered that, during the 20th century, the U.S. Central Bank issued bills in the form of gold certificates with a face value of $1000. These issues reflect the gold standard that the Fed used until 1933.

What is the current value of a $1,000 bill?

Although the $1,000 bill has been out of circulation for over 50 years, it remains legal tender. This means that, if you get your hands on one of these currency notes, their face value has not changed.

Of course, their limited availability has made them collector's items. This implies that, depending on certain characteristics, they may be worth more. The essential factor for a $1000 bill to have a higher appreciation is its rarity.

There are 3 elements that determine its rarity:

  • A serial less than 100 indicates one of the first printing. As there are only 99 notes in each series, the lower the serial, the higher the value.
  • Bills with a star in the serial number replace a printing error. This kind of marking is considered unique and increases appreciation.
  • Banknotes from Federal Reserve-associated branches that had a more limited number of impressions are rarer. One such case is those that were issued in Boston, which possess greater value to collectors.

The general appearance of what the bank note looks like also affects its value. Bills in fair condition or showing some deterioration may be worth little more than the nominal $1000. Those in perfect condition can fetch 10 times as much and some rare gold certified notes can fetch up to $100,000 at auctions.

With respect to the above, there is a classification that divides the condition of the bank note into 3 categories:

Very good
This is a banknote that was in circulation for a long time and still retains some crackle. It usually shows some folds and stains. 
Extremely well  Unlike the previous one, this kind of notes has had a smaller circulation. Since it has the original crispness, it has a very clean presentation. It may show a few small creases, but exhibits no discoloration, tears or stains. 
MS 63 without circulation  As the title indicates, this bill has never circulated. Although it does not have the original crispness, it shows no stains, tears or discoloration. 

Why are $1,000 bills no longer used?

Today, you can still pay with a $1,000 bill at any store because they are legal tender. At present, all dollar bills issued since 1861 are still in use, as indicated by the U.S. government on its official website.

As mentioned above, they stopped printing them in 1945 and were taken out of circulation in 1969 because the U.S. Central Bank (the Federal Reserve) considered that their low use did not justify their printing.

Thanks to the advent of electronic systems in the financial world, high denomination bank notes were no longer necessary. Because they can be more easily counterfeited and the fact that they can support illegal activities, they are unlikely to re-emerge.

Another reason why they no longer issue the $1,000 bill has to do with its production cost. In fact, it is cheaper to print the equivalent in $1 notes. Also, in this digital age it is safer to pay with a cell phone or credit card than to carry a high denomination bill.

You can check out more information about other historic U.S. dollar bills on this Wikipedia page.

How can I get a $1,000 dollar bill?

Currently the only way to obtain a $1,000 bill is to buy it from another individual who wants to sell it. On the Internet it is possible to find auctions of these banknotes and sometimes, for very rare specimens, there are face-to-face bids, also accessible online, in prestigious auction houses.

However, do not expect to find bargains. The holders of these rare banknotes are usually well aware of their market value and will not be willing to part with them easily.

Español: ¿Existen los billetes de 1000 dólares?