There Really Was a $100,000 Bill

The largest bill currently printed and circulated by the U.S. Treasury is the $100 bill, but there used to be bills much larger. One was even worth $100,000.

In 1969, the Treasury discontinued the distribution of any bills greater than $100. The $500 bill, the $1,000 bill, the $5,000 bill, and the $10,000 bill had all been printed in one form or another since the late 18th century. The last series, of what were called high-denomination banknotes, were completed in the late 1920s and early 30s. It was during this time that a piece of currency starring President Woodrow Wilson made an appearance; the $100,000 bill.

These bills were used as gold certificates and represented the ownership of gold instead of the owner having to store their gold. The certificates were issued in 1933 when Franklin D. Roosevelt signed an executive order forbidding the hoarding of gold. The order was given in response to people holding their gold during the Great Depression which was believed to be stalling economic recovery. The order was later ratified by Congress in 1934.

The 1934 series of bills were not issued to the public. They were strictly for gold transactions between Federal Reserve…