Among the main reasons why the United States Government does not issue high–denomination dollar banknotes are money laundering and low inflation. Even if the $1,000 bill is part and a symbol of American history, it is part of the past. Bear in mind that this bill was first issued during the 1861 Civil War. So, it was a great way to make large financial transactions easier.
The 1,000-dollar bill portrayed Alexander Hamilton. As a matter of fact, it belongs to the 1918 series of banknotes. Nevertheless, there were rumors that there could be fake bills. Counterfeiting could be really bad for the economy, so it had to be replaced by President Grover Cleveland in 1928.
Were there any restrictions for the 1,000-dollar bills?
Apparently, these 1,000-dollar bills were restricted to transactions among large financial institutions and interbank transfers. so, it was an important banknote for financial institutions and banks in the United States.
According to Professional Coin Grading Services, GreatCollections auctioned an extremely rare $1,000 Gold Certificate in 2020. As a matter of fact, it was expected to be sold for about $200,000.
The main reason why it was such a valuable note is because it was the finest-known example. What is more, it featured a youthful Alexander Hamilton. Another common reason for such high prices is the fact that there are just a few specimens left.
Where can I buy 1,000-dollar bills?
Since they are not issued anymore, you need to buy them at auctions or online. Of course, their price may vary depending on their condition and state. No doubt, the date it was issued will also affect its value.
Before looking for an example, make sure you follow some safety tips and you make your you get a 1,000-dollar banknote with a grading certificate. One of the places coin collectors get coins and bills is from eBay.
Prices range from $2,900 through $4,800. All you have to do is search1,000-dollar bill on eBay and check all the possible specimens and the features you would like them to have.