A genuine $1000 bill is worth significantly more than its face value. Most are valued at $1,600 to over $3,0001, depending on their condition. Particularly rare examples—such as "star notes2" or bills from the 1928 series in pristine condition—can sell for tens of thousands of dollars3.
These bills are considered collector's items. Their value is influenced by several factors: rarity, condition, series year, and the issuing Federal Reserve Bank. In this sense, they are more like historical artifacts or works of art than simple currency.
Key Factors That Affect Value
1. Condition
Condition plays a major role in determining a bill’s value. Collectors use a grading scale ranging from “Good” (heavily circulated with noticeable wear) to “Uncirculated” (no folds, creases, or signs of use). Bills in uncirculated condition can be worth multiple times more than worn examples.
2. Series Year
The two most common series for $1000 bills are 1928 et 1934. Generally, 1928 bills are rarer and more valuable due to lower survival rates.
3. Star Notes
Bills with a small star (*) at the end of the serial number are known as star notes. These were printed to replace misprinted bills and are significantly rarer. As a result, they typically command a premium among collectors.
Legality of $1000 Bills
Contrary to common belief, owning a $1000 bill is completely legal. The U.S. government stopped printing high-denomination bills in 1945, and their official use was halted in 1969. However, they remain legal tender and can be owned or collected without any legal issue.
Why Production Stopped
The government discontinued these bills due to limited use and rising concerns over their potential use in illegal transactions. The shift toward electronic bank transfers also made large-denomination bills less necessary. In 1969, President Nixon formally ended their distribution.
Legal Tender vs. Practical Use
Although $1000 bills are technically legal tender, using them in everyday transactions is impractical. Most businesses would not accept them due to concerns about counterfeiting and lack of change. Banks must honor them, but their value lies in the collector’s market.
Authentification
Due to their value, $1000 bills are frequent targets of counterfeiting. Verifying authenticity is essential. Certified currency dealers and grading services can confirm legitimacy through expert analysis and security features.
Who Is Featured on the $1000 Bill?
The most common $1000 bills, from the 1928 and 1934 series, feature President Grover Cleveland, the only U.S. president to serve non-consecutive terms (22nd and 24th). Earlier versions featured other historical figures.
Other Figures Featured
Throughout history, different $1000 bills have featured various prominent Americans:
| Year / Series | Portrait | Note Type |
|---|---|---|
| 1862–1863 | Robert Morris | United States Note |
| 1878, 1880 | DeWitt Clinton | Silver Certificate |
| 1890 | George Meade | Treasury Note |
| 1918 | Alexander Hamilton | Federal Reserve Note (Large) |
| 1928, 1934 | Grover Cleveland | Federal Reserve Note (Small) |
The specific year and type of bill heavily influence its value. For example, a 1918 Alexander Hamilton $1000 bill is a large-size note and significantly more valuable than the smaller, more common Cleveland bills.
Collectibility of $1000 Bills
Yes, $1000 bills are highly collectible. Their scarcity, historical significance, and detailed design make them desirable among collectors.
What Drives the Collector Market?
Rareté
The Federal Reserve routinely destroys any high-denomination bills it receives, reducing the number of surviving examples and increasing their rarity and value over time.
Importance historique
Each bill reflects a historical era when large cash transactions were more common. This connection to the past adds to their appeal for collectors.
Artisanat
These notes are examples of skilled engraving and classic currency design. Many collectors appreciate them not just as currency, but as pieces of monetary art.
Can Banks Accept $1000 Bills?
Technically, yes. Banks are required to honor $1000 bills at face value. However, doing so is not recommended.
What Happens If You Deposit One?
Most bank tellers have never handled a $1000 bill. Expect delays, additional verification steps, and possibly even the filing of a Suspicious Activity Report (SAR), despite there being no wrongdoing. Once deposited, the bill is typically sent to the Federal Reserve and permanently removed from circulation.
Better Alternatives
To preserve and maximize its value, consider the following:
- Get an Appraisal – A professional currency dealer or numismatist can evaluate the bill’s authenticity and condition.
- Sell to a Collector – Use a reputable dealer or auction house to sell the bill for its true collectible value—often far higher than $1000.
Conclusion
A $1000 bill is more than just currency. It’s a collectible artifact from American financial history. While still legal tender, its real value lies in its rarity, story, and design. Before spending or depositing one, consult an expert to ensure you understand its full market worth.
