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High-denomination bills ($500, $1000, $5000, and $10,000) were first printed because at the time there were few alternatives for conveniently dealing with large amounts of money. Checks were uncommon and of course things like electronic funds transfers were over a century in the future.

The two largest denominations saw limited use, mostly by very wealthy people such as industrialists or, later, casino owners. The other denominations were used by businesses in the days when most transactions were cash-only. For example, a company ordering a large number of supplies might pay for them using $1000 bills rather than multiple fifties or hundreds.

Demand for high-denomination bills remained low into the middle of the 20th century, especially as other, more-secure forms of payment came into wider use. The final series were dated 1934 but remained in print until 1945, at which time the Treasury suspended further production.

Unfortunately the convenience of using just a few bills to carry large amounts of money led to their use in various criminal activities. In 1969 President Nixon issued and executive order permanently ending production, and ordering banks to hold any large-value bills they received for return and destruction by the Treasury.

Large-value bills weren't demonetized and people weren't ordered to turn them in, but this "passive withdrawal" process effectively removed them from circulation within a few years. Any that remain are technically still legal to spend but they're now worth more to collectors.

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Q: Why was the US 1000 dollar bill printed?
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Related questions

When was the first us dollar bill printed?

1862


What is the value of a 1935 US 1000 dollar bill?

Please check again. The last series year for US $1000 bills was 1934. Only $1 silver certificates were printed with a 1935 date.


Is there a US 500 dollar bill or a 1000 dollar bill?

There were $500, $1000, $5000 and $10,000 bills but they were last printed in the 1940s and banks haven't been allowed to carry them since 1969. If you want to get one visit a dealer or a site like eBay.


What color is a US 1000 dollar bill?

US $1000 bills printed during the 20th century were black, white, and green. Printing of denominations higher than $100 ended in 1945 and distribution was halted in 1969.


Is the us 1000 dollar bill still in circulation?

No.


Did the us ever make 1000 dollar billls?

Yes the us mint made a 1000 dollar bill with grover cleveland.


Silver Certificate two dollar bill?

The us hasn't printed a silver certificate 2 dollar bill since 1899 all twos printed after that were either US notes or federal reserve notes.


What was the last year the one thousand dollar bill was printed in the US?

1964


When was the first 5 dollar bill printed in the us?

a long time ago


Is there any us dollar with 1000000 denomination printed in 1996?

No, nor has a genuine million dollar bill ever been printed in any year.


Is there a 1 million dollar bill during 1940?

No. The US has never printed a 1 million dollar bill, and no US bills of any denomination are dated 1940.


What is the value of a 1998 US 10 dollar bill?

No US $10 bills were printed with the 1998 date.