Everything You Ought To Know About the 500 Dollar Bill
Have you ever wondered if what are the highest denominations of United States (US) currency? In this day and age, it is quite undeniable that the US currency dollar bills available on print are the $1, $2, $5, $10, $20, $50, and $100. However, there are still other US dollar bill denominations higher than $100 available in the olden days. As a matter of fact, one of the largest denominations ever existed in the US currency is the 500 dollar bill. This dollar bill was used mainly for huge financial deals of the Federal Government as well as of the other financial institutions.
In point of fact, the 500 dollar bill was first printed in 1928. It has the portrait of President William McKinley on its front side. Its color on the back side is mostly green. The said dollar bill denomination has been undoubtedly of great help on the government’s financial transactions. Nevertheless, it was also used by bad guys in illegal acts such as in illegal drug trades. In this regard, the Federal Reserve System as well as the Department of the Treasury has arrived at a decision to discontinue the use of $500 bill on July 14, 1969. As a result, the said bill is not anymore in circulation until today.
Indeed, 500 dollar bill was one of the highest denominations of US dollar bills ever existed in the history of US currency. It was halted into the circulation however due to some valid and legitimate reasons. Nonetheless, you can still see some $500 bills today in the hands of some collectors. This is due to the fact that the said dollar bill is barely available in these days as a significant collector’s item only.
Filed under: 500 Dollar Bill Information
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