500 Dollar Bill: Is It Real and What Is It Worth Today?

The $500 bill is a pretty rare piece of US currency history. Even though it is no longer in circulation, which makes the cost go higher, its presence on the numismatic scene is strong, especially if one has rare pieces to trade. Today, surviving examples are highly collectible and may reach the price of $1,410,000 (as the auction record for the $500 Gold Certificate, produced in 1882).

Nonetheless, each note bears the face value of 500 dollars, and since 1969, the banks have been required to withdraw and destroy bills of this denomination for good. So, how to identify these units of currency? Who is on the 500 dollar bill? How were they discontinued? And what dollar bills are worth the most?

History of the $500 Dollar Bill

The high-denomination notes entered the currency framework of the United States in the 19th century, the 1860s in particular. The earliest units, bearing the face value of 500 dollars, appeared in several forms, i.e., National Bank Notes, Legal Tender Notes, and Gold Certificates, before the modern Federal Reserve Note became the major type.

Who is on the $500 dollar bill? This depends on the period of production, as the denomination featured major figures all over the run. In chronological order, the main 500 dollar bill presidents and other historical figures are as follows:

• Albert Gallatin (1862–1863)

• John Quincy Adams (1869)

• Joseph K. Mansfield (1874–1880)

• Charles Sumner (1878, 1880)

• Abraham Lincoln (1870–1875, 1882)

• John Marshall (1918)

• William McKinley (1928, 1934)

Because of its immense face value, the notes were less used by the general public, but large financial institutions intensively relied on the $500 bills in turn. Nevertheless, the denomination’s decline began after World War II. The Bureau of Engraving and Printing says that although $500 notes remained issuable until 1969, they were last printed in 1945. The reasons and consequences will be covered further, though.

Is a 500 Dollar Bill Still Legal Tender Today?

Yes, the $500 bill is still considered legal tender in the United States, yet in practice, however, this occasion is not so often.

Due to their rarity and value on the collector’s market, $500 bills are not typically spent as currency. Indeed, one is able to find such a note for sale, but most have found their way into private collections, museums, or safe deposit boxes. Using one for a $500 transaction would be like paying for a soda with a vintage Ferrari. What is more wild is to make a Dollar Bill Origami out of this bill. But if you have some less valuable bills, why not?

How Much Is a 500 Dollar Bill Worth?

Although the bill’s face value is obviously $500, its numismatic worth is far higher. Several factors influence the current price:

• Series and seal color. Green seals from 1934 are more common than 1928 versions; the blue-seal 1918 notes are rarer and more valuable.

• Serial numbers. Fancy serial numbers (e.g., repeating digits, low numbers) increase value.

• Issuing bank. Notes issued from certain Federal Reserve districts may command premiums.

…let alone the condition that directly affects the way the note looks. 

“...Each note has a unique serial number. The first letter of the serial number corresponds to the series year. The face plate and back plate numbers identify the specific printing plates used to print the face and back of the note. The face plate number is found on the face of the note and the back plate number is found on the back of the note…”
— Unspecified author, “Dollars in Detail: Your Guide to U.S. Currency” (2018)
U.S. Currency Education Program

500 Dollar Bill Value by Type and Condition

It is rather difficult to define the worth of the 500-dollar note, as it primarily depends on its type (e.g., more commonly traded 1928 or a much rarer nineteenth-century large-size issue) and the condition, i.e., the grade, paper quality, and rarity within the series. Today, when referring to this unit of currency, many mean the small-size 1928 and 1934/1934A issues, and they usually sell for several thousand dollars. Better uncirculated pieces may bring much more in the end. 

When Was the 500 Dollar Bill Discontinued, and Why?

The life of the 500-dollar notes came to an end on July 14, 1969 (the discontinuation date). In fact, the US Department of the Treasury and the Federal Reserve announced that banknotes bearing the face value of $500 (and the rest) were to be withdrawn for good (the last production took place in 1945). Their legal-tender status, however, has never been taken away.

The main reason was obvious: they were discontinued because of a lack of use. The Federal Reserve explained that the large notes had originally been authorized for interbank transactions, but demand later lowered as those payments could be handled by other means, such as checks or $100 bills.

What Makes a Real US 500 Dollar Bill Valuable?

To define the worth, one should take into consideration the series, condition, scarcity, and note-specific qualities/features (e.g., the presence of stars or errors on its sides). These factors, taken together, may shape the status of the bill and turn it into a desirable unit in turn.

How to Identify a Real 500 Dollar Bill US

The bills of this denomination are not really hard to identify because of their unique appearance and distinctive features. However, counterfeits and replicas do exist, and it is vital not to fall into the trap of assuming that every old-looking note is genuine. So, who was on the 500 dollar bill, and how to check it properly? 

1. Check the design to understand if it aligns with the standards of earlier US bills (size, design features, color, etc.). Is a 500 dollar bill real? Distinguish the wrong pieces right on this step. 

2. Look at the portrait. Keep in mind that the main part of small-sized $500 bills carries the portrait of William McKinley. Who is on 500 dollar bill in other years? Older nineteenth-century $500 notes featured other historical figures, but the portrait must match the note type and period.

3. Verify the size and layout, for the notes come in large and small formats. The pre-1928 issues are physically larger, but later versions use the modern small-size format.

4. Examine the paper to locate small embedded red and blue fibers (the characteristic of these coins). 

5. Review the seals and serial numbers. A genuine note should have clean, consistent seals and serial numbers that fit the note’s series and type, which should be sharp. 

6. Do not expect modern security features such as thread, watermark, or color-shifting ink (these appeared in 1990). 

7. Compare it with official reference images or use identification tools like Coin ID Scanner to check the unit on the spot, review its value ranges, and explore origins and backgrounds from deep down.

Can You Still Find a $500 Dollar Bill for Sale?

Yes, indeed. They regularly appear on the numismatic market. Yet, one needs to know where to seek. 

• Reputable auction houses like Heritage Auctions or Stack’s Bowers usually specialize in high-end collectibles and, hence, provide expert grading, authentication, and exposure to serious collectors.

• Numismatic dealers (local or nationwide ones) with currency expertise can help appraise your bill or offer it for sale.

• Currency shows tend to be equipped with in-person opportunities to evaluate, trade, and sell rare notes.

Keep in mind that professional grading services like PMG (Paper Money Guaranty) or PCGS may help one with grading and encapsulation, which may increase their marketability and value.

Fast Facts About the $500 Bill

• The $500 features only deceased individuals, in keeping with U.S. currency policy.

• As of 2025, fewer than 75,000 $500 bills are believed to remain in private hands.

• A pristine $500 bill has sold for more than $20,000 in recent auctions.

• The question “Is the 500 dollar bill real?” comes up often. Yes, it is, but it is now considered obsolete.

• You can read more about paper money errors to see if your 500 dollars are even more unique. 

Was there a 500 dollar bill? Yes, and its influence is still strong. The face value of these units is impressive, but the numismatic value wins.

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