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Fun Facts about the $1000 Bill

Posted By Jim On 04/24/2012 @ 7:02 am In Personal Finance | 7 Comments

I’m a sucker for trivia and one of the most educational (and fun) posts I wrote was the fun facts about the $500 bill [3], a bill that was no longer used after 1969 in an effort to combat organized crime. There were a lot of interesting facts from the $500 bill so I thought we could have some fun and do the same for the $1000 bill, which was also discontinued that same year.

There were two “modern” versions of the $1,000 bill, one issued in 1918 and again in 1934. The Series 1918 had a Blue Seal and featured Alexander Hamilton while the Series 1934 featured Grover Cleveland. Both are prized by collectors and worth more than $1,000 today.

Fun Facts about the $1000 Bill

  • Like the $500 bill, the 1918 Series had a Blue Seal while the Series 1934 had a Green seal.
  • Both are Federal Reserve Notes, as opposed to Silver Certificates or other types of bills. Today, all US bills are Federal Reserve Notes (FRN).
  • These were not the only versions of the $1,000 bill, they were first introduced in 1861. These are simply the two modern era certificates.
  • According to the BLS’s inflation calculator, a thousand bucks in 1918 is worth $15,077.02 [4] today. A thousand dollars in 1934 is worth $16,989.78 [5] today.
  • They’re still legal tender. If you had one of these, you could go into a bank and deposit them (though you’d get more selling them to a collector).
  • You can find circulated Series 1934 for a few thousand bucks on eBay. Uncirculated bills are worth more, as well as those with stars besides the serial number (replacement note). I couldn’t find anyone selling the 1918 version though.
  • Both bills have much longer “obligation clauses” than what is currently used on today’s bills. Today, the clause simply states “This note is legal tender for all debts, public and private.”

  • 1918 Alexander Hamilton $1,000 Bill

  • Alexander Hamilton [6] is featured on the face of the 1918 $1,000 bill. He was a popular portrait for currency and postage, though this is the highest denomination he appeared on. You may recognize him in your wallet, he’s also on the $10 bill.
  • Hamilton had a distinguished military career, attaining the rank of Major General, but was most well known as the nation’s First Secretary of the Treasury.
  • He’s one of the few non-Presidents to appear on currency, joining John Marshall (who was on the $500) and Benjamin Franklin (on the $100).
  • The obligation clause on the front of the note reads – “This note is receivable by all national and member banks and Federal Reserve Banks and for all taxes, customs and other public dues. It is redeemable in gold on demand at the Treasury Department of the United States in the city of Washington, District of Columbia or in gold or lawful money at any Federal Reserve Bank.”
  • The back of the bill has the profile of a bald eagle, holding arrows and an olive branch, which is similar to the eagle on the Seal of the President of the United States (and other similar images associated with the President).

  • 1934 Grover Cleveland $1,000 Bill

  • Grover Cleveland, the 22nd and 24th President of the United States, graces the front of the Series 1934 $1000 bill.
  • Cleveland was many things but he was the only President to serve two non-consecutive terms.
  • The Secretary of the Treasury who signed the bill was Henry Morgenthau, Jr [7], who served under FDR, and played a major role in the New Deal.
  • The obligation clause on the front of the note reads – “This note is legal tender for all debts, public and private, and is redeemable in lawful money at the United States Treasury, or at any Federal Reserve Bank.”
  • The rear of the certificate is boring – it just prints “The United States of America” on one line and “One Thousand Dolalrs” on the second line.

These bills can be very valuable so if you have one, get it appraised. Don’t just deposit it at the bank!

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[2] Email: mailto:?subject=http://www.bargaineering.com/articles/fun-facts-1000-bill.html

[3] fun facts about the $500 bill: http://www.bargaineering.com/articles/fun-trivia-facts-about-the-500-bill.html

[4] $15,077.02: http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=1000&year1=1918&year2=2012

[5] $16,989.78: http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=1%2C000.00&year1=1934&year2=2012

[6] Alexander Hamilton: http://en.wikipedia.org/wiki/Alexander_Hamilton

[7] Henry Morgenthau, Jr: http://en.wikipedia.org/wiki/Henry_Morgenthau,_Jr.

Thank you for reading!