Are old high denomination notes still legal tender?

Discussion in 'Paper Money' started by Gam3rBlake, Apr 10, 2021.

  1. Gam3rBlake

    Gam3rBlake Well-Known Member

    If you took a note like this into the bank would they seriously deposit $10,000 into your account even though these notes don't circulate and most people have probably never seen one?

    I know they're worth far more as collectibles, and it would be dumb to take one to deposit into the bank, but I'm just curious what would happen in theory if someone brought one into a bank and tried to deposit it into their account?

    1934-k-dallas-10-000-frn-xf-45-pmg_212596_obv.jpg
     
    onecenter and GoldFinger1969 like this.
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. spirityoda

    spirityoda Coin Junky

    They probably would give you $10,000 probably worth 3-5 times that amount ??? Wait for the currency pros opinions to get here..
     
    Last edited: Apr 10, 2021
    Gam3rBlake likes this.
  4. thomas mozzillo

    thomas mozzillo Well-Known Member

    This is on the usa.gov/currency site:
    upload_2021-4-10_1-1-0.png
    I had to smile when I seen "may still be in circulation".
     
  5. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    You can deposit the $10,000 FRN into your account and be credited for that deposit. The bank on the other hand will send the note to the Federal Reserve for credit to their account and then be destroyed. I wouldn't deposit that bill or any other like it ;)

    Here's some info from the Board of Governors of the Federal Reserve System:

    https://www.federalreserve.gov/aboutthefed/chapter-5-federal-reserve-notes.htm
     
    GoldFinger1969 likes this.
  6. GoldFinger1969

    GoldFinger1969 Well-Known Member

    All notes over $500 are to be returned to local Federal Reserve Banks. This applies to $500, $1000, $5000, and $10,000 notes. The $100,000 note was used only for bank-to-bank transactions and did not circulate among the public.

    "Hi, can you break a $100,000 bill ?" :D

    Yes, the bank will give you the face value although it is almost certainly worth a multiple of face value unless it's $500 or $1000 and in very bad shape (still certainly worth more than face).
     
    masterswimmer and Gam3rBlake like this.
  7. Gam3rBlake

    Gam3rBlake Well-Known Member

    I think it would be hilarious for someone to play a joke and walk into like McDonalds and be like:

    “Hey do you have change for a $10,000?”

    Obviously they wouldn’t do there is no risk of losing the bill. But it would be funny to try in my opinion.
     
  8. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    I thought the $100K note with Woodrow Wilson on it was only used for transactions between the Treasury Dept. and the FRB's.
     
  9. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Here's how Kramer handles big bills (first 30 seconds) :D:

     
  10. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Could be...I thought it was also used to settle bank-to-bank transactions but the FRB's could have been involved.
     
  11. stlnats

    stlnats Active Member

    If you could get the bank to "break" the 10k note into two $5k notes it might be worthwhile to try. Not likely to happen unless you can time warp back 50-60 years.

    The $100k Wilson was only used exclusively for transactions between the Federal Reserve Banks and the treasury as backing for FR notes (according to the Hessler/Chambliss catalogue). Being a gold note dated 1934, it was covered by Roosevelt's gold confiscation order and illegal to be owned privately, whether by an individual or a non-FR bank.
     
    hotwheelsearl likes this.
  12. hotwheelsearl

    hotwheelsearl Well-Known Member

    Although it’s illegal to own, is it still legal gender?
     
  13. -jeffB

    -jeffB Greshams LEO Supporter

    This is my favorite typo of the week.
     
    masterswimmer likes this.
  14. Searcher64

    Searcher64 Member

    A few years back a person came into a local bank I go to and made a deposit. The teller called me and I went to see the note. It was $500.00 note and she was going to put a pen on it. I told her NO! I got the note at face. Next a call again this time was a 1929 $100.00 Gold certificate. I got it also at face. I have gotten many "Star Notes" also the same way in the past on several occasions. You have to know your tellers at several banks. Good hunting. Also, I got many "Web Press Notes" the same way when they were out. The teller I knew, I would show and tell them what to look for. Another way to find stuff is at garage/estate sales. You have to ask the people if they have any coins, currency, or weapons to get them to thinking and they will go and bring them out or you can go back later to see and buy.
     
    -jeffB likes this.
  15. Mountain Man

    Mountain Man Supporter! Supporter

    Of course. In today's society, it can chose it's gender. LOL
     
    mrweaseluv likes this.
  16. scottishmoney

    scottishmoney Buh bye

    I've gotten three $1000s, and one $500 from banks that had taken them over the counter in deposits. I live in an area that had a lot of older residents and they tended to stash cash which still comes into banks on occasions. My most interesting find was ca. 2011 got $500 face in $5 bills that were saved by a WWII soldier until his death ca. 1948. His widow brought them to the bank and deposited them ca. 2009 and they sat there until I asked if they had any interesting stuff in the vault. There were lots of red seals, silver certificates, a couple of nationals, and early FRN's. I still have them stashed away.
     
  17. Bradley Trotter

    Bradley Trotter Well-Known Member

    Out of curiosity which banks were the nationals from?
     
Draft saved Draft deleted

Share This Page