Currently, the highest denomination for US currency is the $100 bill, although the $500 bill, formally discontinued in 1969, remains legal tender. But, it seems that back in the mid 30's, a $100,000 bills was used for inter-bank transactions. Ah, for life before wire transfers.
I wonder how long it took for the clerk serving the culprit to tumble? I also wonder who still has a $500 or two tucked away in the mattress somewhere.
I don't know how Treasury does these things, ur, but I got to wondering what if somebody actually keyed in $1,000,000, Treasury printed them out and some of them actually found their way into public hands? Would the US be obligated to honor them?
After all, a whole bunch of people from a whole bunch of places got all kinds of rich from one of these.
Well, maybe some collectors could have a good time trading the $1,000,000 note amongst themselves, but I don't think clerical errors are in and of themselves legal tender. Most notes above $500 have been recalled & I can't help believing that the banking industry full understands that. I do understand that such notes still have values amongst collectors.
3 comments:
Currently, the highest denomination for US currency is the $100 bill, although the $500 bill, formally discontinued in 1969, remains legal tender. But, it seems that back in the mid 30's, a $100,000 bills was used for inter-bank transactions. Ah, for life before wire transfers.
I wonder how long it took for the clerk serving the culprit to tumble? I also wonder who still has a $500 or two tucked away in the mattress somewhere.
I don't know how Treasury does these things, ur, but I got to wondering what if somebody actually keyed in $1,000,000, Treasury printed them out and some of them actually found their way into public hands? Would the US be obligated to honor them?
After all, a whole bunch of people from a whole bunch of places got all kinds of rich from one of these.
Well, maybe some collectors could have a good time trading the $1,000,000 note amongst themselves, but I don't think clerical errors are in and of themselves legal tender. Most notes above $500 have been recalled & I can't help believing that the banking industry full understands that. I do understand that such notes still have values amongst collectors.
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