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The Color Of Money

Happy birthday! You are so money!

Paper money was first introduced today in 1862.

Hand holding out money
Getty Images George Marks

The notes were $5, $10 and $20. These notes were redeemable in coin on demand, which is why they were called “demand notes.” But because of the green ink used to print these notes they became known as “greenbacks.”

The largest denomination ever printed was the $100,000 Gold Certificate of 1934 featuring the portrait of Woodrow Wilson. This note existed only for official transactions and none of them ever circulated outside Federal Reserve banks.

businessinsider.com
businessinsider.com

Currently, the highest denomination bill in circulation is the $100 bill after President Nixon told the Federal Reserve to take the high-denomination bills out of circulation in 1969 as an anti-drug measure.

As of 2009, there were only 336 of the $10,000 bills in circulation,

1928-1000-bill-federal-reserve-note high-denomination-currency_12

342 remaining $5,000 bills; and 165,372 $1,000 bills are still being used.

But they’re NOT really being used! If you have one, it’s worth so much more to collectors than just the face value!

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