100,000 Dollars, Gold Certificate, United States, 1934 (2024)

FAQs

Is the $100 000 gold certificate real? ›

The $100,000 bill, a gold certificate from Series 1934, is the largest denomination banknote ever produced in the United States; it was printed to facilitate transactions between Federal Reserve Banks, and was never issued for usage by the public.

The $100,000 Gold Certificate was used only for official transactions between Federal Reserve Banks and was not circulated among the general public.

However, the Great Depression and the banking crisis of 1933 forced the U.S. off the gold standard, and Gold Certificates were taken out of circulation. The Gold Reserve Act of 1934 made it illegal for private citizens to hold Gold Certificates.

The U.S. issued gold certificates that were identical in face value to their dollar denominations from 1879 until 1934 when the country abandoned the gold standard. U.S. gold certificates now have only collectible value.

However, all gold certificates are considered legal tender and can be redeemed at any financial institution for their face value in equivalent current coin or paper money.

$1,000 in 1934 has the same purchasing power as $22,450.75 in 2024. Over the 90 years this is a change of $21,450.75. The average inflation rate of the dollar between 1934 and 2024 was 2.29% per year. The cumulative price increase of the dollar over this time was -100.00%.

The $100,000 bill is the highest denomination ever issued by the U.S. Federal Government. Printed in 1934, it was not intended for general use, but instead was used as an accounting device between branches of the Federal Reserve. It is illegal for a private individual to own this banknote.

It is U.S. government policy that all designs of Federal Reserve notes remain legal tender, or legally valid for payments, regardless of when they were issued.

The United States no longer issues bills in larger denominations, such as $500, $1,000, $5,000, and $10,000 bills. But they are still legal tender and may still be in circulation.

Who is on the 100000 gold certificate? ›

Description. Photo of a $100,000 gold certificate (Series 1934) depicting Woodrow Wilson.

These certificates represent ownership of a certain quantity of gold bullion or coins. The owner of the gold certificate gets to save money on gold trading, delivery, storage and insurance costs.

As mentioned before, the ban on private ownership of gold in the United States was implemented as an emergency measure to combat the Great Depression. The U.S. was on a gold standard at the time, meaning that the value of the U.S. dollar was tied directly to a specific amount of gold.

The Government of India mandates a six-digit Alphanumeric HUID Code on all gold jewellery. The HUID Code will be unique to each item of jewellery, and customers will be able to readily verify its authenticity and other details using the BIS Care App.

It's illegal to own a $20 gold coin from 1933 because the U.S. government never officially released these coins into circulation. They were minted but then recalled and destroyed due to changes in currency laws during the Great Depression.

Today, National Gold Bank Notes are rare in the higher denominations (and unknown on some issuing banks) with condition generally falling in the good-to-fine range. Approximately 630 National Gold Bank Notes are known to exist, and roughly 20 grade above "very fine".

The use of large bills in the 21st Century has decreased dramatically, and they've been greater targets for counterfeits versus smaller denominations. They're still legitimate legal tender but are in limited circulation, except for the $100,000 bill, which was only ever used in fiscal channels.

In 1934, the $100,000 Gold Certificate became the highest denomination ever issued. It was never intended for public use. Instead, it was meant solely for official transactions between Federal Reserve Banks.