The $500 bill is a denomination that has not been printed for several years. In 1969 the U.S. Treasury formally announced that it would no longer be issued, which has since relegated this to the status of being a collector's item. From time to time I read speculation about whether or not this is ever going to return to being printed, but I doubt that it will unless or until we experience hyperinflation. A lot of transactions these days are made using digital means, and especially would be done this way unless you're cashing in a healthy stack of chips at the casino or if you're about to enter into a drug deal.
I remember a conversation with a bank teller back in my college days when I asked if I could get one. I was told that I could order one, and if she was right......and had I done so, I could have scored one of these at face value.
I was thinking about this somewhat recently, not knowing if I should have ordered one. I could have swung such a purchase but I would not have been guaranteed one in pristine condition. I have since seen several of these at coin shows and gun shows, and one could be had if I had been willing to pony up the money. My recollection is that they go for a minimum of $800 and a perusal of today's eBay listings show that they go as high as $1100, depending on condition, serial number (collectors like low serial numbers) and Federal Reserve Bank of issue. Series date also comes into play as that they are dated 1928 and 1934.
No, I am not in the market for one of these. What is driving this post is a forum conversation that I saw where someone broke down and bought one. I can't remember what he paid for it.
It's a nice conversation piece, and although it would be cool to have several of these stashed away in a safe, I personally think that gold coins are a safer investment.
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