Coins Plus, Cincinnati’s leading rare coin dealer, is now buying your large size and high denomination currency. With 44 years of experience, Coins Plus understands not only the physical and sentimental value but also the historical value of these collectibles. Check out these three facts about the history of rare currency from their coin collectors and experts: 

• The Largest Denomination in Existence Is $100,000: While you may have seen one million dollar bills circulating last April Fool’s day, the largest denomination of currency ever issued in the U.S. was a $100,000 gold certificate. The note featured a portrait of President Woodrow Wilson and was only printed between December 18, 1934, and January 9, 1953.  It was never released to the public, but only used for bank transfers. Other rare denominations of currency that were issued to the public include $500, $1,000, $5,000, and $10,000 bills.
• High Dollar Currency Was the Precursor to Wire Transfers: When high denomination currency was first issued in 1928, it served an important purpose. Before secure electronic transferring existed, long distance transactions between banks were risky. Money was often lost between transfers. Thus, the Treasury created high denomination currency to ease this process. With these bills, banks could more easily protect their assets and settle their debts with just one bill. Once money could be electronically transferred, high denomination currency was no longer used by financial institutions and eventually stopped being distributed in 1969. Because of the decline in their use as well as their singular role in bank transactions, these bills became rare in public circulation. 
• Rare Currency Is Still Legal Tender: Although you may get strange looks from the cashier, you are legally allowed to spend large size and high denomination currency. Nonetheless, that may not be the most intelligent option. Due to their rarity, these currencies are worth more than their printed values. Instead of spending or depositing these bills, you can sell them to the coin experts at Coins Plus for a profit. Additionally, selling to Coins Plus protects the bill’s value because circulating high denomination and large size bills are required to be removed and destroyed by Federal Reserve Banks.

If you are interested in selling your rare currency, call Coins Plus at (513) 621-1996 to schedule an appraisal. For more information about the other types of collectibles they buy and sell, visit their website or their Facebook.