The United States 10,000-dollar bill (US$10000) (1878–1934) is an obsolete denomination of the United States dollar. The $10,000 note was the highest denomination of US currency to be used by the public and was discontinued in 1969. These notes are valuable to collectors and, since they are still legal tender, banks will redeem the notes for face value.
The first ten-thousand-dollar bills were issued as large-size paper money measuring 7.38 in (187 mm) by 3.18 in (81 mm). Following the 1928 series, the size of the bill was reduced to the small-size variety measuring 6.14 in (156 mm) by 2.61 in (66 mm).
Description
The series 1918 version's obverse text reads "Federal Reserve Note" and "The United States of America will pay to the bearer on demand ten thousand dollars" with a portrait of then-Treasury Secretary Salmon P. Chase. Its reverse features a portrait of the early settlers boarding ships and the number 10,000 along with the words "Federal Reserve Note". $10,000 bills were the highest denomination of American currency ever to be used by the public, as the highest denomination issued, the $100,000 bill, was only used for inter-bank transfers and did not circulate. It is illegal for currency collectors to possess the $100,000 note.
History
The United States ten-thousand-dollar bill was printed from 1878 to 1934. The $10,000 notes first appeared in the Series 1878 legal tender notes. It was reissued in the series 1914 and 1918 and in the series 1928 and 1934. The 1878 large-size "Horse Blanket" $1 measured 7.38 in (187 mm) by 3.18 in (81 mm), and the 1928, series measured 6.14 in (156 mm) by 2.61 in (66 mm).
Though originally issued as a gold certificate, the issuance of the 1933 Executive Order 6102 which prohibited the hoarding of gold currency, the note was redesigned and reissued as a Federal Reserve Note. The Bureau of Engraving and Printing continued to issue the notes until 1969, though the notes did not see much circulation among the public because they were printed to facilitate transactions between banks. On July 14, 1969, the United States Department of the Treasury announced that all notes in denominations greater than $100 would be discontinued, and that all banks are required to send them any $10,000 bill for destruction, making the bills increasingly rare.
Highly valued notes have led collectors to pay more than $100,000 for individual graded examples. Having been largely uncirculated outside of banks, many bills remain in pristine condition.
Casino operator Benny Binion displayed one-hundred $10,000 bills at his casino, Binion's Gambling Hall and Hotel. The Binion family sold the $10,000 bills in 2016 for amounts between $112,500 and $188,000 each.
In 2023, a 1934 uncirculated and Paper Money Guarantee (PMG) company graded $10,000 bill sold for $480,000 at Heritage Auctions in Texas.
Gallery
- 1878 $10,000 gold certificate
- 1882 $10,000 gold certificate
- 1917 $10,000 gold certificate
- 1928 $10,000 gold certificate
- 1934 $10,000 gold certificate
References
- Gilkes, Paul (15 July 2016). "When U.S. paper money denominations included $10,000, even $100,000 notes". CoinWorld. Archived from the original on 14 September 2024. Retrieved 13 September 2024.
- "10,000 Dollars, Federal Reserve Note, United States, 1918". americanhistory.si.edu. Smithsonian. Archived from the original on 14 September 2024. Retrieved 13 September 2024.
- Walrath-Holdridge, Mary (21 September 2023). "Talk about inflation: a $10,000 Great Depression-era bill just sold for $480,000". USA Today. Archived from the original on 14 September 2024. Retrieved 13 September 2024.
- "$10,000 Bill Museum of American Finance". www.moaf.org. Museum of American Finance. Archived from the original on 14 September 2024. Retrieved 13 September 2024.
- "$100,000 Gold Certificate Engraving & Printing". www.bep.gov. The Bureau of Engraving and Printing. Retrieved 17 October 2024.
- "All Kinds Of U.S Large-Size Paper Money – Large Bills Currency". Collectibles & Currency. Archived from the original on 14 September 2024. Retrieved 11 September 2024.
- Miller, Zoë (17 October 2018). "How the dollar has changed over the years". Business Insider. Archived from the original on 14 September 2024. Retrieved 10 September 2024.
- "Bureau of Engraving And Printing". www.bep.gov. The Bureau of Engraving & Printing. Archived from the original on 2023-05-16. Retrieved 2024-09-13.
- "Chapter 5. Federal Reserve Notes". Board of Governors of the Federal Reserve System. Federal Reserve. Archived from the original on 14 September 2024. Retrieved 12 September 2024.
- "PMG-graded High-Dollar Notes in the Spotlight at January Heritage Sale". pmgnotes. Paper Money Guaranty. Archived from the original on 14 September 2024. Retrieved 13 September 2024.
- Brean, Henry (8 January 2016). "Someone wants to spend $188,000 for $10,000 cash". Las Vegas Review-Journal. Archived from the original on 14 September 2024. Retrieved 13 September 2024.
- Czachor, Emily Mae (27 September 2023). "$10,000 bill sells for nearly half a million dollars at Texas auction — and 1899 coin sells for almost as much – CBS News". www.cbsnews.com. Archived from the original on 14 September 2024. Retrieved 13 September 2024.
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