Franklin Roosevelt On See United States Executive

At one time however it also included five larger denominations High denomination currency was prevalent from the very beginning of US Government issue 1861 $ 500, $ 1,000 $ 5,000 and $ 10,000 interest bearing notes were issued in 1861 and $ 5,000 and $ 10,000 United States Notes were released in 1878. There are many different designs and types of high denomination notes.


The reverse designs are abstract scrollwork with ornate denomination identifiers All were printed in green except for the $ 100,000 The $ 100,000 is an odd bill in that it was not generally issued and printed only as a gold certificate of Series of These gold certificates of denominations $ 100 $ 1,000 $ 10,000 and $ 100,000 were issued after the gold standard was repealed and gold was compulsorily purchased by order of President Franklin Roosevelt on see United States Executive Order 6102 and thus were used only for intra government transactions.


For the most part these bills were used by banks and the Federal Government for large financial transactions This was especially true for gold certificates from 1865 to 1934 However the introduction of the electronic money system has made large scale cash transactions obsolete When combined with concerns about counterfeiting and the use of cash in unlawful activities such as the illegal drug trade it is unlikely that the US government will re issue large denomination currency in the near future.