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Why aren't 500 1000 5000 and 10000 dollar bills printed anymore?
Wiki User
∙ 9y ago
Printing of higher-denomination bills were discontinued in 1945, and distribution through banks was discontinued in 1969 by executive order of President Nixon in an effort to stop their use in criminal activities. The bills remain legal tender but any that are received by a bank must be turned back to the Treasury Department.
The primary reason was their use by organized crime, but they were also becoming less necessary because of electronic banking.
Wiki User
∙ 9y ago
The production of high denomination bills, such as $500, $1000, $5000, and $10000, was discontinued in the United States for several reasons. Their large values made them convenient for illegal activities like money laundering and tax evasion. Additionally, advancements in electronic payments and the decreasing need for such high denominations led to their discontinuation.
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