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12/6/2019 7:27:02 PM
Posted: 12/13/2013 10:13:29 PM EST
What happened to them? Why did we stop printing them? I would think with the way inflation has been since they stopped printing them that it would make more sense to have them today more than ever. I know with debit cards being the norm for most that it doesn't matter , but I still like cash and sometimes having a $500 or $1,000 bill would be useful.

I remember my grandfather always kept a $500 bill in his wallet for a "just in case" situation till the day he died. My lame uncle got his hands on it and put it in his checking account after he died Shit I would have gladly given him 5 $100 bills for it

I thought I remember reading somewhere that they stopped printing them due to the drug trade, but that can't be the only reason. Any thoughts?
Link Posted: 12/13/2013 10:15:22 PM EST
IIRC they were only for transfers between federal banks, and not for the general public.
Link Posted: 12/13/2013 10:20:33 PM EST
Got change for $1,000?
Link Posted: 12/13/2013 10:20:39 PM EST
Link Posted: 12/13/2013 10:22:17 PM EST
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Originally Posted By krpind:
Moving physical bills in and out of the country was the official story I remember. They say it is too easy to move large amounts with the large denominations?

Sounds plausible. I have no idea if it is true.
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It is.

They haven't made anything larger than a hundred in well over a decade.


Link Posted: 12/13/2013 10:22:24 PM EST
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Originally Posted By WilliamGray:
IIRC they were only for transfers between federal banks, and not for the general public.
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I thought that was the $100K bills, or whatever they had on display in Vegas....
Link Posted: 12/13/2013 10:22:57 PM EST
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Originally Posted By ByNameRequest:

I thought that was the $100K bills, or whatever they had on display in Vegas....
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Originally Posted By ByNameRequest:
Originally Posted By WilliamGray:
IIRC they were only for transfers between federal banks, and not for the general public.

I thought that was the $100K bills, or whatever they had on display in Vegas....



Correct.

Link Posted: 12/13/2013 10:24:33 PM EST
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Originally Posted By krpind:
Moving physical bills in and out of the country was the official story I remember. They say it is too easy to move large amounts with the large denominations?

Sounds plausible. I have no idea if it is true.
View Quote


This. Began using them to move large amounts of cash around when the intent was as use to transfer funds between banks.

As an aside $1,000 bills are worth $1,200- $1,700 to collectors.
Link Posted: 12/13/2013 10:27:06 PM EST
As an aside $1,000 bills are worth $1,200- $1,700 to collectors.
View Quote


Are they considerably more rare than $500 bills?
Link Posted: 12/13/2013 10:27:53 PM EST
Getting about time to bring back $ 500 notes, now that a set of tires or tank of heating oil is over a thousand dollars.
Cant hardly fit more than a couple grand in a wallet
Link Posted: 12/13/2013 10:28:34 PM EST
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Originally Posted By ByNameRequest:

I thought that was the $100K bills, or whatever they had on display in Vegas....
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Originally Posted By ByNameRequest:
Originally Posted By WilliamGray:
IIRC they were only for transfers between federal banks, and not for the general public.

I thought that was the $100K bills, or whatever they had on display in Vegas....


Maybe. I was thinking 10,000 and a few others.
Link Posted: 12/13/2013 10:31:37 PM EST
[Last Edit: 12/13/2013 10:32:03 PM EST by TheYellowThing]
My Dad used to carry a $500 bill around. As I recall it had the shape of a football on one side.
Link Posted: 12/13/2013 10:32:35 PM EST
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Originally Posted By TheYellowThing:
My Dad used to carry a $500 bill around. As I recall it had the shape of a football on one side.
View Quote



Link Posted: 12/13/2013 10:34:59 PM EST
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Originally Posted By WilliamGray:
Originally Posted By TheYellowThing:
My Dad used to carry a $500 bill around. As I recall it had the shape of a football on one side.



http://upload.wikimedia.org/wikipedia/en/9/9f/USA_500-dollar_bill_(front_and_back).jpg



Well, it looked more like a football when I was a kid.
Link Posted: 12/13/2013 10:37:21 PM EST
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Originally Posted By TheYellowThing:



Well, it looked more like a football when I was a kid.
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Originally Posted By TheYellowThing:
Originally Posted By WilliamGray:
Originally Posted By TheYellowThing:
My Dad used to carry a $500 bill around. As I recall it had the shape of a football on one side.



http://upload.wikimedia.org/wikipedia/en/9/9f/USA_500-dollar_bill_(front_and_back).jpg



Well, it looked more like a football when I was a kid.


Kinda looks like a football stadium
Link Posted: 12/13/2013 10:37:50 PM EST
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Originally Posted By TheYellowThing:



Well, it looked more like a football when I was a kid.
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Originally Posted By TheYellowThing:
Originally Posted By WilliamGray:
Originally Posted By TheYellowThing:
My Dad used to carry a $500 bill around. As I recall it had the shape of a football on one side.



http://upload.wikimedia.org/wikipedia/en/9/9f/USA_500-dollar_bill_(front_and_back).jpg



Well, it looked more like a football when I was a kid.



It does kinda look like a football.
Link Posted: 12/13/2013 10:40:35 PM EST
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Originally Posted By WilliamGray:



It does kinda look like a football.
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Originally Posted By WilliamGray:
Originally Posted By TheYellowThing:
Originally Posted By WilliamGray:
Originally Posted By TheYellowThing:
My Dad used to carry a $500 bill around. As I recall it had the shape of a football on one side.



http://upload.wikimedia.org/wikipedia/en/9/9f/USA_500-dollar_bill_(front_and_back).jpg



Well, it looked more like a football when I was a kid.



It does kinda look like a football.



Stadium as well.
Link Posted: 12/13/2013 10:47:07 PM EST
Blame Nixon for that one I believe.
Link Posted: 12/13/2013 10:52:56 PM EST
[Last Edit: 12/13/2013 10:56:27 PM EST by NwG]
Used to work in rare coins and notes.

$500/1000 bliss are pretty common. $500's are usually circulated and only worth face value $1,000's ar worth ~$1200-1500 depending on condition...

Link Posted: 12/13/2013 11:36:53 PM EST
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Originally Posted By NwG:
Used to work in rare coins and notes.

$500/1000 bliss are pretty common. $500's are usually circulated and only worth face value $1,000's ar worth ~$1200-1500 depending on condition...

http://i64.photobucket.com/albums/h191/lsimmons12345/image.jpg
View Quote

Link Posted: 12/13/2013 11:50:09 PM EST
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Originally Posted By Mech2007:



It is.

They haven't made anything larger than a hundred in well over a decade.


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Originally Posted By Mech2007:
Originally Posted By krpind:
Moving physical bills in and out of the country was the official story I remember. They say it is too easy to move large amounts with the large denominations?

Sounds plausible. I have no idea if it is true.



It is.

They haven't made anything larger than a hundred in well over a decade.




I believe it was around 1959 for the Last printing of $1,000.00 and $500.00 bills.

I worked in a Bank when I was 18 back in 1978 or so and I use to "Buy" them whenever a customer brought them in for Change.
The $1,000.00 bill had a Beatiful Printing of the Signing of the Declaration on the Back.
Whenever I went to cash one in the last 35 years I've had to Check in a Nice upscale Hotel like the Hyatt Regency or the Hilton just to get change.

No one will accept them--not even a bank w/o knowing you as a customer--most people 99.9% have never seen one and do not even realize they were ever printed.
Link Posted: 12/13/2013 11:55:46 PM EST
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Originally Posted By WilliamGray:
IIRC they were only for transfers between federal banks, and not for the general public.
View Quote



No, you are thinking of the 10,000 and 100,000 bills. The 1,000 and 500 bills were phased out due to their high value to counterfeiters. There were $1,000.00 and $500.00 bills in circulation until the 1980's. there are still some of them in the hands of collectors.
Link Posted: 12/14/2013 12:02:29 AM EST
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Originally Posted By NwG:
Used to work in rare coins and notes.

$500/1000 bliss are pretty common. $500's are usually circulated and only worth face value $1,000's ar worth ~$1200-1500 depending on condition...

http://i64.photobucket.com/albums/h191/lsimmons12345/image.jpg
View Quote


Gimme all your golds!
Link Posted: 12/14/2013 12:54:49 AM EST
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Originally Posted By WilliamGray:
IIRC they were only for transfers between federal banks, and not for the general public.
View Quote


This is what a bank told me when I tried to get one.
Link Posted: 12/14/2013 2:33:51 AM EST
[Last Edit: 12/14/2013 2:34:51 AM EST by Indrid-Cold]
Discussion reminds me of THE SIMPSON'S episode where Monty Burns
flees to Cuba with the world's only trillion dollar bill.

The Trouble With Trillions
Link Posted: 12/14/2013 2:45:30 AM EST
Originally Posted By mrkma:
What happened to them? Why did we stop printing them? I would think with the way inflation has been since they stopped printing them that it would make more sense to have them today more than ever. I know with debit cards being the norm for most that it doesn't matter , but I still like cash and sometimes having a $500 or $1,000 bill would be useful.

I remember my grandfather always kept a $500 bill in his wallet for a "just in case" situation till the day he died. My lame uncle got his hands on it and put it in his checking account after he died Shit I would have gladly given him 5 $100 bills for it

I thought I remember reading somewhere that they stopped printing them due to the drug trade, but that can't be the only reason. Any thoughts?
View Quote


IIRC, it was during the FDR Administration that they stopped making anything larger than $100 and it was to make it more difficult for criminals to make their payments, etc.
Link Posted: 12/14/2013 2:54:06 AM EST
They used to go I think all the way to $10,000 bill . They are going to need to bring the $500 at least back.

Posted Via AR15.Com Mobile
Link Posted: 12/14/2013 2:55:01 AM EST
Link Posted: 12/14/2013 5:27:13 AM EST
I have a $500, its neat. The story I heard is they stopped printing them because of organized crime.
Link Posted: 12/14/2013 6:11:15 AM EST
$500s were once in common circulation. Got handed lots of them by the AF when I would go TDY to civilian locations for several months. They stopped handing out cash and went to travelers checks around 1990 and then to the credit cards by 1995.

$500s were dropped because they made life easy drug dealers to move large amounts of cash in small packages. The people pushing the issue actually wanted to drop the $100 for the same reason. Make the drug dealers move money around in larger packages and it would be easier to spot was the reasoning.

$1000s were never in common circulation and electronic fund transfers put them into history's scrap heap. The only people I know who ever handled $1000s were folks like my in-laws, who got a home loan in the 1950s (paid in cash), who immediately paid the seller, who promptly deposited it in his bank. I never heard of anyone who carried $1000s and only ever saw one in person. That was when Dad took me to the bank where they were displaying one shortly after it was announced they were being withdrawn from circulation back in the late 1960s.
Link Posted: 12/14/2013 6:15:58 AM EST
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Originally Posted By B2k4E:
Got change for $1,000?
View Quote

I'll take 1 rib.
Link Posted: 12/14/2013 6:18:43 AM EST
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Originally Posted By WilliamGray:
IIRC they were only for transfers between federal banks, and not for the general public.
View Quote


I remember the same, use to see them at coin shows on occasion selling at a steep premium over face value.
Link Posted: 12/14/2013 6:23:17 AM EST
IIRC, it was 100K bills that were not for the general public. I believe that current printing policy is to limit the amount of cash a person can carry.
Link Posted: 12/14/2013 6:31:16 AM EST
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