Name/Title
moneyEntry/Object ID
96.01.001Description
Framed $500 McKinley Bill. the bill is on top, with two plaques at the bottom, entitled "McKinley Gold Certificate" and "In Memory of Alex M. (7-9-74) and Martha O. Yuhasz (1-19-96)"
The very first $500 note was issued by the Province of North Carolina in May of 1780 with Virginia following with a $500 note of its own later that year. Additional high-denomination notes were issued during the War of 1812 and during the Civil War as Confederate currency. Further, during the Federal banknote period, which began in 1861, Congress authorized the issuance of $500 notes.The last issuance of a $500 bill was a Federal Reserve Note issued in 1934 that features President William McKinley on the front (pictured at the top right).
High-denomination bills, which include the $500 bill were officially discontinued by the Federal Reserve System in July of 1969 when it began to take the bills out of circulation. That being said, these bills are still legal tender. However, due to the value as a collector's item, it's better to sell the bill to a collector than to actually use it to make a purchase.
What a $500 bill is worth today
As with any collector's item, the worth of a $500 bill is determined by a number of factors including its condition and rarity. The most common $500 bill is the aforementioned 1934 Federal Reserve Note featuring McKinley. Over 900,000 of these bills were printed, however, less than 75,000 are believed to still be in circulation today and therefore available to collectors. These bills can be worth anywhere between $600 to over $1,500 apiece with an average worth of about a 40% premium to the bill's face value.Collection
YuhaszAcquisition
Accession
96.01.001Source or Donor
UnknownAcquisition Method
Gift