Over the years, U.S. currency has changed hands countless times, but it has also changed in shape and form. The country once printed $500 and $1000 dollar bills, though it’s now hard to imagine holding one of these bills in your hand, let alone trying to make change with one at your favorite store. If you’re eager to learn more about this currency phenomenon before heading to a coin dealer, dive into the following overview.

A Coin Dealer’s Guide to the $500 & $1,000 Bills

What Do They Look Like?

The $500 bill has featured William McKinley, the 25th president of the United States, since 1928. The most commonly seen version today is the 1934 Federal Reserve Note, of which 900,000 bills were originally printed. Today, fewer than 75,000 are still floating around.

The $1,000 bill first featured Grover Cleveland, but was replaced with Andrew Jackson in 1928. These bills can be incredibly expensive—an 1891 bill sold for $2.5 million in 2013.

Why Did They Leave Circulation?

The Treasury Department claimed to discontinue large bills because of lack of use. As exciting as it may have been to look at such a large sum on one sheet of paper, imagine the high stakes of handling such bills—years’ worth of savings could fly away in the wind. Unless the country were to enter a major depression in which a $500 bill would be necessary to run errands or shop for groceries, it’s unlikely that such bills will be printed again.

Where Are They Now?

It’s strange to think that, once upon a time, U.S. citizens could pay with $500 and $1,000 dollar bills, but that is just the tip of the iceberg. $5,000, $10,000 and $100,000 bills were also printed and circulated! However, all bills over $100 were last printed in 1946. In 1969, they were discontinued and recalled by the Treasury Department. Today, very few of these large bills are left, which makes them especially sought-after by collectors and numismatics.

If you’re interested in learning more about rare coins and bills, get in touch with Coins Plus of Cincinnati, OH. They’ve been in business since 1972 and are recognized as Cincinnati’s only "National Award Winning and PNG Dealer." This coin dealer offers expert advice to answer all your currency questions and caters to customers looking to buy or sell money of their own. To learn more about their appraisal services, visit the website. You can also call the respected coin dealer at (513) 621-1996 for more insight into rare currency.