Well, they kept Thomas Jefferson on the $2 bill when they reissued it, so, do you think William McKinley stands a chance to keep his place on the $500 bill if it is reissued? I hope they keep him. I also hope they keep the big 500 in the oval on the reverse, just like the old $500 bills, but I have a feeling that, like the Jefferson $2 bill reverse, they would probably change the McKinley $500 bill reverse as well to something "better" but believe it or not, the $500 bill's reverse is my favorite design of all U.S. coins and currency. I know it sounds strange, since there are so many other designs that most people like, and there is not much to the $500 bill's reverse's design, but I just love that oval with the stylish oval with the 500 in it with the middle zero in the 500 slightly bigger than the five and other zero.
I talked with a BEP customer service worker on the phone a while back, and asked if they thought the new $100 bills would be released this year or not, due to the error bills, and she said "I'm not sure, thats not up to me. Thats up to the printers of the currency, but I would say there is a chance of it being this year" and I asked her "One more thing. I know that this is a long shot, but with the growing demand for $100 bills and inflation, and the fact that I read a Congressional testimony back in 1998 that stated reissuing the $500 bill was not on the planning boards yet, but was "on the radar acreen" and "not a front burner item, but definately on the top of the stove" do you think that the Treasury might reissue the $500 bill in the fairly near future?" and she said "Well, judging by what you said, I would say that there is a definate possibility, but the reissue of the $500 bill would be a little ways off due to the current problems with the new $100 bills and we would need to print a lot of new $100 bills first, and feel free to call every month or so to check on the status of the new $100 bill's possible release date" And I told her, "Wow! Thanks for giving me the go ahead to call and ask the status of the new $100 bill's release date every so often" and she said "No problem"
So, maybe there is still a chance for new $500 bills to be issued. I think I am going to stop advocating the $1,000 bill for now, and only advocate the $200 bill if the $500 bill does in fact, get reissued. No point in advocating $200 bills until they are needed to help make change for $500 bills and once the government starts saving money by printing $500s, there would have to be an act to Congress for the $200 bill due to the fact that the U.S. government has never been authorized to print a $200 denomination, and would have to authorize it, however, $500s and $1,000s (as well as $5,000s and $10,000s) can still be printed, should the Secretary of the Treasury or Federal Reserve order them. However, I have heard and read that the Secretary and/or the Fed would likely consult Congress before reissuing any large denominations of U.S. currency. I don't understand why though.
I wish I knew someone high up in the Federal Reserve, who I could get to order some $500 bills, because, according to law, if the Fed orders $500 bills, or any authorized denomination for that matter, the Treasury MUST instruct the BEP to print these bills and they MUST be provided to the Fed.