$1000 One Thousand Dollars Bill Series of 1928, 1934 For Sales

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Did you know that the U.S. currency system used to have bills with denominations as high as $1000? While most people are familiar with the $100 bill as the largest U.S. bill in circulation today, there used to be even higher denominations that were primarily used for large transactions between banks and businesses.

The $1000 bill was one of the highest denominations ever issued by the U.S. government, and its history is a fascinating glimpse into the world of high-denomination currency. Take a closer look at the $1000 bill, its history, and its value as a collectible item by following this blog post.

The History Of The $1000 One Thousand Dollars Bill

The $1000 bill was first issued in 1861 as an interest-bearing note during the Civil War. At the time, the U.S. government needed a quick way to raise funds for the war effort and the $1000 denomination allowed for more efficient borrowing of large sums. These notes were much larger than the modern currency, measuring approximately 7.4218 inches by 3.125 inches.

Throughout history, several types of currency featured the $1000 denomination as large-size paper money, each with its own unique design and features. However, due to their rarity and age, surviving examples from before the 1900s are considered highly collectible and can command astronomical prices at auctions. Despite their historical significance, only a few known to exist, and are typically held in private collections or museums.

One notable $1000 bill is the "Grand Watermelon" bill, named for its ornate design featuring a large green numeral 1,000 with curved edges, resembling a watermelon. This bill was issued in 1890 and is considered the most famous banknote in the U.S. Paper Money history. In 2014, one of the Grand Watermelon bills was sold at auction for a record-breaking $3.3 million, the highest amount ever paid for a piece of US currency.

From Large to Small: The Shrink In Sizing Of The $1000 Bill

In 1928, the $1000 bill was reintroduced in a small-size version as part of a new series of U.S. currency. This new design was intended to make the bills more convenient to use and store. Two different types of $1000 bills were issued: Federal Reserve Notes and Gold Certificates. The first series of small-size Federal Reserve Note $1000 bills was issued in 1928, with subsequent series in 1934 and 1934A.

The front of the $1000 bill features a portrait of Grover Cleveland, the 22nd and 24th President of the United States. The back of the bill features a depiction of the United States of America and the words "One Thousand Dollars" in bold letters. The overall design of the bill is similar to other small-size currency of the time, with intricate scrollwork and borders.

The $1000 bill, along with other high-denomination notes, was discontinued in 1969 due to concerns about their use in illegal activities such as money laundering and tax evasion. Additionally, the Federal Reserve found that these large denominations were not in demand for everyday transactions. Although the notes remained legal tender, they were no longer printed, and any remaining bills were slowly taken out of circulation. When individuals deposited $1000 bills in commercial banks, the banks would then turn the bills over to the Federal Reserve Bank to be destroyed. This process has been ongoing for over five decades, and it is still in effect today.

The $1000 Bill: A Rare and Valuable Piece of U.S. Currency

Despite being discontinued in 1969, high-denomination bills such as the $1000 bill still hold legal tender status in the United States, which means they can be redeemed for their face value. However, the rarity and historical significance of the $1000 bill notes give them significant numismatic value.

Therefore, they are highly sought after by collectors and dealers, and their market prices often exceed their face value by a wide margin. A $1000 bill in average condition can easily sell for around two thousand dollars, while bills in better condition or with unique serial numbers can command even higher prices at auction or from collectors.

At Collectibles & Currency, we take great care in sourcing our $1000 bills and other high-denomination notes. We work with trusted third-party grading companies to ensure that each note is genuine and accurately graded, so you can be confident in the quality of your purchase.

Adding a rare and historically significant $1000 bill to your collection is an excellent way to diversify your portfolio and own a unique piece of American currency history.

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$1000 One Thousand Dollars Bill Series of 1928, 1934 For Sales

The History Of The $1000 One Thousand Dollars Bill

From Large to Small: The Shrink In Sizing Of The $1000 Bill

The $1000 Bill: A Rare and Valuable Piece of U.S. Currency

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