No, there is currently no such thing as a $200 bill produced by the U.S. Bureau of Engraving and Printing. The highest denomination bill in circulation today is the $100 bill. However, the idea of a $200 bill has been floated at times throughout U.S. history. Let’s take a closer look at whether a $200 banknote could become a reality someday.
Highest Denominations of U.S. Currency
The U.S. Mint produces coins, while the U.S. Bureau of Engraving and Printing produces paper currency. Here is a quick overview of the highest denominations of both coins and paper money:
Coins
The highest value coin currently in circulation is the $1 coin. In the past, the U.S. Mint has produced other high denomination coins including the $2.50 quarter eagle, $3 gold piece, $5 half eagle, $10 eagle, and $20 double eagle gold coins. However, the last time these were minted was in the early 1900s.
Today, the U.S. Mint produces cents, nickels, dimes, quarters, half dollars, and dollar coins for circulation.
Paper Currency
The highest value bill currently in circulation is the $100 bill. Here is a quick history of the highest paper currency denominations in the U.S.:
| $100,000 bill | Produced from December 18, 1934 to January 9, 1935 for Federal Reserve Bank use |
| $10,000 bill | Produced from December 18, 1934 to January 9, 1935 for Federal Reserve Bank use |
| $5,000 bill | Produced from December 18, 1934 to January 9, 1935 for Federal Reserve Bank use |
| $1,000 bill | Produced from July 14, 1969 to May 15, 1969 for Federal Reserve Bank use |
| $500 bill | Produced from October 10, 1934 to 1946 for public use |
| $100 bill | Currently in production since 1996 |
As you can see, the $100 bill is the highest denomination of U.S. currency available for public use today. The larger bills were mainly used for transactions between Federal Reserve banks, not for general public circulation.
History of the $200 Bill Idea
While a $200 bill has never been put into circulation, there have been a few instances where its introduction has been discussed:
Preliminary Design in 1918
In 1918, a preliminary design for a $200 note featuring Daniel Manning was produced by the Bureau of Engraving and Printing as part of a series of new currency. However, these notes never made it past the design phase and were never issued.
Proposed in 1938
In 1938, a $200 United States Note was one of several new bills proposed in Congress. However, none of these denominations ended up being produced.
Discussed in the late 1990s
More recently, during the redesign of U.S. currency in the late 1990s, the idea of a $200 bill was briefly discussed. Economists felt it could be useful with inflation and the need for larger banknote transactions. However, the $100 bill was ultimately kept as the highest denomination note instead.
Considered in 2016
In 2016, the issuance of a new $200 banknote was again considered and the Bureau of Engraving and Printing even created some mock-ups. Supporters argued it would lower costs by reducing the need to handle large stacks of $100 bills. However, after receiving little interest from commercial banks, the idea did not move forward.
Arguments For and Against the $200 Bill
Here are some of the key arguments that have been made both for and against the introduction of a U.S. $200 banknote:
Arguments For:
- It would cut down on the number of banknotes needed for large cash transactions, making counting easier.
- It would be more convenient and cheaper for banks and businesses that handle lots of cash.
- The government could save on production costs by printing more $200 bills instead of $100 bills.
- The existence of a higher denomination note may discourage counterfeiting attempts.
Arguments Against:
- It could facilitate criminal activities and money laundering with large denominations.
- Regular citizens have little use for such a high value banknote in daily transactions.
- It would necessitate upgrades of ATMs and other cash handling machines to dispense $200 bills.
- The additional production costs may not justify the benefits.
There are reasonable arguments on both sides of this debate. However, recent history suggests there simply has not been sufficient demand from banks or the public to justify introducing a $200 banknote.
Possible Future for a $200 Note
While it seems unlikely in the near term, could a $200 bill be introduced down the road? Here are some possibilities:
- If inflation reduces the purchasing power of the $100 note substantially, a new, higher denomination could help fill the gap.
- If counterfeiting of the $100 bill becomes a major problem, a new design above that denomination could prove helpful.
- If the demand for banknotes goes up worldwide, especially in large transactions, the utility of a $200 banknote might become more compelling.
However, even in these scenarios, public demand would need to indicate sufficient usefulness and necessity to justify the expense and logistics of introducing a new high denomination banknote.
For now, the $100 bill seems likely to remain the highest paper currency denomination for the foreseeable future. But only time will tell if a $200 United States banknote eventually becomes a reality.
Conclusion
In summary, while a $200 bill has been proposed and considered a few times in the past, it has never actually been put into circulation. The highest denomination U.S. banknote authorized for public use today remains the $100 bill.
Given the lack of strong demand and compelling need from banks, businesses, and the general public, the introduction of a $200 note seems unlikely in the near future. However, it can’t be ruled out in the more distant future if circumstances substantially change.
While interesting to ponder, the $200 banknote remains more of a conceptual idea than a likely reality at this time. The $100 bill satisfies the current needs of commerce and currency. But if high inflation or large cash transactions become more commonplace, revisiting the possibility of a $200 United States note could make sense down the road.