Yes, it is perfectly legal for private individuals to own a $5,000 bill, as these discontinued notes remain legal tender in the United States. Although no longer printed (last issued in 1945 and discontinued in 1969), they are highly valued by collectors and are worth far more than their face value.
The United States 5000-dollar bill (US$5000) is an obsolete denomination of United States currency. The note features president James Madison. It is still legal tender. The United States Department of the Treasury discontinued the note $5000 bill in 1969 and it is now valued by currency collectors.
The United States no longer issues bills in larger denominations, such as $500, $1,000, $5,000, and $10,000 bills.
Lawful holders of mutilated currency may receive a redemption at full value when: Clearly more than 50% of a note identifiable as United States currency is present, along with sufficient remnants of any relevant security feature; or.
The $10,000 note was the highest denomination of US currency to be used by the public. These notes are still legal tender, and thus banks will redeem them for face value. However, their value to collectors is well above their face value.
The $5,000 bills are the rarest of all denominations (including $10,000) and were last issued with the Series of 1934 and remain quite popular today with collectors and investors.
In today's market, a $10,000 Federal Reserve Note would cost anywhere between $125,000 and $200,000. Even ultra-high denoms that are badly damaged have a minimum value of $50,000."
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.
A $1 bill could be worth up to $150,000 if it's part of a rare pair from the 2014-2016 printings that have matching serial numbers, specifically a "Series 2013" bill with a "B" Federal Reserve Seal and a star at the end of its serial number. The real value comes from pairing two of these misprinted bills, as millions were accidentally printed with duplicate numbers, and finding the matching set is the key to the high price.
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As of May 30, 2009, only 336 $10,000 bills were known to exist, along with 342 $5,000 bills, 165,372 $1,000 bills and fewer than 75,000 $500 bills (of over 900,000 printed).
There's a reason we have a centuries-old law banning living presidents on U.S. currency: to avoid the appearance of a monarchy. Today Trump's nominee to lead the Mint assured me he won't violate this law for Trump's latest vanity project. We will hold him to it.
However, by 1969, the Treasury discontinued all high-denomination bills—including the $500, $1,000, $5,000, and $10,000 notes—due to concerns about their potential misuse in illegal activities.
End of Large Denomination Bills
On July 14, 1969, the Federal Reserve and the U.S. Department of the Treasury announced that banknotes in denominations of $500, $1,000, $5,000, and $10,000 would be discontinued due to lack of use. Although they were issued until 1969, they were last printed in 1945.
The $10,000 bill featuring the portrait of President Lincoln's Secretary of the Treasury, Salmon P. Chase, was the highest denomination US currency ever to publicly circulate.
A $1,000 bill is worth significantly more than its face value today, typically ranging from around $1,500 to over $5,000 for common circulated notes, but high-grade or rare examples (like star notes or specific Federal Reserve districts) can fetch tens of thousands or even hundreds of thousands of dollars, as they are popular collector's items.
Is there a $1 million dollar note? The U.S. government has never issued a $1 million note. There are, however, “Platinum Certificates” or "One Million Dollar Special Issue Notes.” These notes are non-negotiable and are not considered legal tender.