Last Updated on March 29, 2022
Over the years, the monetary system of the United States has witnessed some drastic changes. There was a time when people used to walk around with a chunk of notes folded in their wallets.
However, with rising costs and increasing thefts, paper money has gradually been replaced with its plastic variant. While people still keep some paper bills with them, there are some currency notes which are no longer being produced.
For instance, the dollar bills in denominations of 500$, 1000$, 5000$, 10,000$ have been out of circulation for quite some time.
Although these currency bills were discontinued decades ago, that does not make them worthless in this era. Today, they are revered as highly-valuable collectibles. Due to lack of use, such bills are difficult to get.
How Much is a $500 Bill worth?
The value of a $500 bill is $1000.
It has been reported that around 900,000 of these currency notes were printed initially. Out of which, a total of 70,000 of them are considered to be in use today.
Like any other valuable antiques, the worth of the bill highly depends on its condition and rarity. These bills can be worth somewhere between 600$ to 1,500$ per piece. However, certain series of bill is considered to be highly valuable eventually increasing their worth.
One factor that is taken into account while estimating the worth of currency bills of high grade is the serial number. The bill’s monetary value is likely to increase five times if it consists of a star before the serial number. Such notes are typically referred to as star notes and are extremely limited. Also, a serial number falling under 100 would increase the worth of the currency bill.
Factors like this simply increase the rarity of the bill that is already obsolete. Such out-of-the-ordinary bills are eventually featured as artifacts in a museum and can be auctioned for over a million.
Which Series of 500$ Bill Is More Valuable?
Several series of the bill were issued but there are only a few of them that are too rare to come across. Here are some of the unusual 500$ bills that you’ll ever find;
The 1882 500$ Gold Certificate:
This gold certificate with the front face of Abraham Lincoln is one of the unusual 500$ bills. It can be found in high-end retail establishments with a worth of around 5000$-7000$. The value increases if the bill is in an extremely good state.
The 1934A Series 500$ Bill:
Although there is not much difference in the value of the 1934 and 1934A series 500$ bill, they are still hard to get. The prospect of having this valuable currency bill becomes more limited if you’re looking for that special star note. These bills initially had dark green seals which later on, became much lighter in color. This would be another factor that may affect the bill’s worth.
Out of almost 917,628 of 1934 500$ dollar bills, only 72,000 of them are available to collectors or buyers. The 1934A 500 dollar bill value lies somewhere between 1,100$ to 1,250 per piece in fine condition.
What Is The History Of the 500 Dollar Bill?
The history of the 500$ note dates back to the May of the year 1780 when it was initially issued. The currency bill was introduced by the province of North Carolina later, followed by Virginia.
The large denomination bills of this sort were mainly made, to cover big purchases and down payments. Hence were typically used by finance companies. Even during that time, their use was not regular for many reasons. Eventually, this led to their discontinuation.
Who Is On the 500$ Currency Bill?
Images of the number of US dignitaries have featured on the 500 dollar bill. The first personality to appear as the front face of the bill was Albert Gallatin who was the secretary of treasury then. Since then, various famous leaders of the United States have appeared on the front like Abraham Lincoln and William McKinley.
Is 500$ Bill Easy To Get?
Since this currency bill has been out of circulation for over fifty years, you may need to pull some strings to get it. Due to the cessation of large denominations of America’s currency, the probability of finding them today is pretty low. So instead of looking for them in banks, you should consider approaching coin collectors or currency dealers, or buyers.