Are there 500 dollar bills

However, due to the value as a collector's item, it's better to sell the bill to a collector than to actually use it to make a purchase. Over , of these bills were printed; however, less than 75, are believed to still be in circulation today and therefore available to collectors.

Takeaway While the U. That said, don't use it to buy groceries as the bill its worth far more than its face value to a collector. Discounted offers are only available to new members. Stock Advisor will renew at the then current list price. Investing Best Accounts.

Stock Market Basics. Stock Market. Industries to Invest In. The information on this site does not modify any insurance policy terms in any way. After the last printing of those denominations in , the Treasury Department and the Fed discontinued them in These days, most of these increasingly rare bills are owned by collectors.

In fact, if you happen to have a mint condition bill in a rare denomination, it could mean a big payoff. The reverse side of the bill depicts Spanish conquistador Hernando De Soto discovering the Mississippi in He served a full term and then only six months of his second term, before being assassinated.

The back of the bill shows then-General George Washington resigning his commission as commander-in-chief of the Continental Army on December 23, It shows Salmon P. The back of the bill shows the embarkation of the Pilgrims, as they sailed for freedom in North America. Chase on the front. This note cannot be legally held by currency note collectors. Courtesy of US Treasury. How We Make Money. Jennifer Bradley Franklin. Written by. Jennifer Bradley Franklin is a multi-platform journalist and author, often covering finance, real estate and more.

Edited By Megan Harney. Edited by. Megan Harney. Ever wondered if recycling is worth it? Or how store brands stack up against name brands? Check out more from the series here. Seems more appropriate to use them now than back in the early 20th century. The U. Berk Ltd. Lee Ohanian, an economics professor at the University of California, Los Angeles, said the bill was used to rapidly purchase supplies like ammunitions during the war.

Forgue said President Richard Nixon thought these denominations would make it easier for criminals to launder money, which then led to his order for their elimination. Is there a chance we could bring the note back? The circulation of large denominations of currency is almost always due to inflation or depreciation, he said.

Take a look at Zimbabwe, which has issued million-, billion- and trillion-dollar notes. Experts also say they think modern technology renders large bills unnecessary.