No single person "created" the dollar bill, but Salmon P. Chase, as Treasury Secretary, put his face on the first U.S. $1 paper money in 1862, though George Washington replaced him in 1869, and the Treasury's Bureau of Engraving and Printing (BEP) produces it, with Franklin D. Roosevelt significantly influencing the iconic Great Seal design on the back.
The first $1 notes (called United States Notes or "Legal Tenders") were issued by the federal government in 1862 and featured a portrait of Secretary of the Treasury Salmon P. Chase (1861-1864). The first use of George Washington's portrait on the $1 note was on Series 1869 United States Notes.
Congress acted on Hamilton's recommendations, with the Coinage Act of 1792 that established the dollar as the basic unit of account for the United States. The United States Mint was created by Congress following the passing of the Coinage Act. It was primarily tasked with producing and circulating coinage.
The $100,000 Gold Certificate is illegal for private citizens to own because it was never meant for public circulation, used only for large, official transactions between Federal Reserve Banks, and its ownership restrictions stem from the 1933 Gold Reserve Act when the U.S. disconnected from the gold standard. While many were destroyed, a few remain held by the government for educational purposes, but private possession is prohibited, though you might see them in museums like the Smithsonian.
Yes, some rare $2 bills can be worth $5,000 or more, but most are only worth face value; high value depends on age (pre-1900), red/blue seals (not green), perfect condition, or special features like star notes or unique serial numbers, with some 1890 notes fetching over $4,500 and error notes reaching tens of thousands.
Though a gold three-dollar coin was produced in the 1800s, and the Bahamian dollar (which is pegged to the US dollar) has a $3 banknote, no three-dollar bill has ever been produced in the United States.
Most $2 bills are worth face value, but older ones (pre-1928) or those with errors (rare serial numbers, misprints, star notes) can be worth significantly more, from tens to thousands of dollars, depending on age, condition, and unique features like red/blue seals or star symbols, with older, crisp notes fetching the highest prices.
The rarest and most valuable $1 bills are often unique error notes or old, high-grade examples like the 1874 $1 United States Note, which sold for over $26,000, or a 1928D $1 Star Note, fetching nearly $100,000 due to extreme scarcity, with value determined by condition, age, and unique features like misalignments or special serial numbers (low, radar, ladder).
A red seal $2 bill is a United States Note (Legal Tender Note) from the Series 1928, 1953, or 1963, distinguished by its red Treasury seal and serial numbers, featuring Thomas Jefferson and Monticello on the back, unlike modern green-seal $2 bills (Federal Reserve Notes). These older notes were a distinct type of currency backed by the government's "full faith and credit," are no longer issued, and are collectible due to their historical significance and rarity in good condition, though many are common.
Be aware that placing notes in the washing machine may damage security features and affect the accuracy of the bill if it is later fed into a counterfeit detection machine. Let the notes air dry by placing them in the sun, where the ultraviolet (UV) light emitted by the sun will help to disinfect them.
Yes, the U.S. government did issue $1,000 bills, starting in the 1860s and ending with the last print run in 1945, though they were primarily for bank-to-bank transfers, not general public use, and were officially discontinued in 1969 due to lack of use and money laundering concerns. These large-denomination bills, featuring portraits like Grover Cleveland on later versions, are still legal tender but are very rare, with most now held by collectors.
Star Notes are generally worth their printed denomination amount. However, you may be able to find some that command a premium over their stated value if you know where to look.
If you have a $2 bill that was minted and printed before 1976, it's likely worth more than its face value on the collectibles market. In some cases, it might be worth only $2.25. The highest value is $4,500 or more for uncirculated notes from 1890, although most of those bills range from $550 to $2,500.
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.
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.