Yes, a $1,000 bill is still considered legal tender in the United States and can legally be used, but it is highly recommended to sell it to a collector instead of spending it at face value. While banks can legally accept them, they are obsolete, last printed in 1945, and often worth significantly more than $1,000 due to their rarity.
The United States 1000 dollar bill (US$1000) is an obsolete denomination of United States currency. It was issued by the US Bureau of Engraving and Printing (BEP) beginning in 1861 and ending in 1934. Since 1969, Treasury policy is to withdraw any $1000 bills it receives, but they are still legal tender.
The United States no longer issues bills in larger denominations, such as $500, $1,000, $5,000, and $10,000 bills. But they are still legal tender and may still be in circulation. The U.S. Bureau of Engraving and Printing creates U.S. paper currency. Learn about paper money and how to recognize counterfeit currency.
The $500 bill, the $1000 bill, and other higher denomination bills remain legal tender in the US and can be used as a tradeable vehicle for goods and services. So, if you have one of these bills, PLEASE DON'T USE THEM AT FACE VALUE. They are much more valuable as collectors' items than their printed denomination.
With $1,000, you can make money by investing in diversified assets like S&P 500 index funds or robo-advisors, developing high-income skills through courses, starting a small business (like flipping items or social media lead gen), or even using it as seed money for a side hustle. For quicker cash, sell unused items or drive for gig apps, but for long-term wealth, focus on skill-building and low-cost investing.
Since January 1, 2021, the Canadian $1, $2, $25, $500 and $1,000 bank notes are no longer considered legal tender.
Yes, $1,000 bills are extremely rare today, as the U.S. Treasury discontinued printing them and most in circulation were destroyed, making surviving examples highly sought after by collectors and worth significantly more than their face value, especially in good condition or with special features like star notes. While they remain legal tender, you won't find them in everyday transactions.
On July 14, 1969, the Department of the Treasury and the Federal Reserve System announced that currency notes in denominations of $500, $1,000, $5,000, and $10,000 would be discontinued immediately due to lack of use. Although they were issued until 1969, they were last printed in 1945.
The U.S. Treasury officially stopped issuing the $1,000 bill in 1969 as part of a broader effort to combat money laundering and other illicit activities. By that time, electronic banking and wire transfers had largely replaced the need for large-denomination physical currency in legitimate transactions.
The treasury hasn't printed $1,000 bills for over 50 years, so you'd probably get more for it at a rare coin dealer. However, if you had a real $1,000 bill, you could change it at most banks, though perhaps not at one of those little grocery store branches. A bank can almost always cash a check for $1,000.
The largest denomination of U.S. currency you can typically get from a bank is the $100 bill, as larger bills like the $500, $1,000, and $10,000 were officially discontinued in 1969 due to lack of use, though they are still legal tender and can be found in circulation, often with collectors. While the Federal Reserve never issued them for public use, a special $100,000 Gold Certificate existed for internal transactions.
It is U.S. government policy that all designs of Federal Reserve notes remain legal tender, or legally valid for payments, regardless of when they were issued. This policy includes all denominations of Federal Reserve notes, from 1914 to present as per 31 U.S.C. § 5103.
8 smart money moves to make with $1,000 in savings
The "7-3-2 Rule" refers to two main concepts: a financial strategy for wealth building, suggesting it takes 7 years for the first major savings milestone, 3 years for the next, and 2 years for the third, driven by compounding and increasing investments; and a trucking rule (7/3 split) allowing drivers to split their 10-hour mandatory break into 7 hours in the sleeper berth and 3 hours of off-duty rest, offering flexibility.
The $1,000 a month rule is a retirement guideline stating you need $240,000 saved for every $1,000 per month you want from your investments, based on a 5% annual withdrawal rate, offering a simple way to estimate savings goals, but it doesn't account for inflation or market changes and is a starting point, not a complete plan, say SmartAsset, Kiplinger, and Money US News.com. For example, $2,000/month would require $480,000 saved (2 x $240k).