Quick Answer
No, there is no official US one million dollar bill in circulation. The highest value of US paper currency ever printed for public circulation was the $100,000 gold certificate, with a portrait of Woodrow Wilson, that was printed between December 18, 1934 and January 9, 1935. However, some people have created fake or novelty million dollar bills.
What is the highest value US bill?
The highest value of US paper currency ever printed for public circulation was the $100,000 gold certificate. This gold certificate was printed by the Bureau of Engraving and Printing between December 18, 1934 and January 9, 1935 with a portrait of President Woodrow Wilson on the front.
While the $100,000 bill was a real currency, it was not widely circulated and was mainly used for transactions between Federal Reserve banks. This makes the $100,000 bill extremely rare and valuable for collectors today, with estimated values reaching into the millions of dollars for bills in good condition.
Has the US ever printed a one million dollar bill?
No, the US Treasury has never issued a one million dollar bill for public circulation at any point in history. The Bureau of Engraving and Printing, which produces paper currency for the US Treasury, has never printed any denomination higher than the $100,000 gold certificate.
While a one million dollar bill would be technically possible to print, it would be considered an impractically high denomination for use in regular commerce. The largest bill in active current circulation is the $100 bill.
Do any novelty or fake million dollar bills exist?
Even though the US government has never issued a legitimate million dollar bill, some novelty or fake million dollar bills do exist in the collector market. These are privately made replicas that look like actual US currency but state that they have no monetary value and are not legal tender.
Some key things that distinguish these novelty bills from real US currency:
- They do not have the same high quality engravings and security features like microprinting and watermarks found on genuine US bills.
- They often have words like “copy” or “specimen” written on them to indicate they are not real.
- Images of presidents or figures not found on actual money may appear on them.
- Instead of saying “The United States of America,” the text says “The United States of Fun” or something silly.
These novelty bills are meant for entertainment purposes only. It is illegal to try to pass off fake currency as real.
What’s the most expensive US bill ever sold?
Here are some record sales for extremely high value and rare US paper currency:
| Denomination | Price Sold For |
| $100,000 gold certificate | $2.02 million |
| $10,000 bill | $3.29 million |
| $5,000 bill | $1.41 million |
| $1,000 bill | $2.04 million |
The most expensive US bill ever sold at auction was a $100,000 gold certificate from 1934 that was graded in gem uncirculated condition. It sold for $2.02 million in April 2013.
High denomination bills like these are exceptionally rare and sought after by serious collectors, which drives up their value at auction. Lower denomination antique bills in pristine condition can also fetch very high prices among collectors.
Why were high denomination US bills like the $100,000 bill discontinued?
In 1945, the US discontinued printing of high denomination currency as they were deemed no longer necessary due to the removal of the gold standard and lack of demand in commerce. With all gold confiscated and large transactions done electronically, giant bills lost practicality.
Also, with counterfeiting technology advancing in the digital age, super large denominations posed too great of a risk to be viable. A million dollar bill in particular was seen as too easy to counterfeit.
The Federal Reserve currently only issues general circulation paper money up to the $100 bill, while the $2 bill has much lower production. Higher denominations up to $100,000 are still legal tender but are only used between Federal Reserve banks.
Conclusion
While special one-million dollar bills do exist as novelties, the US Treasury has never officially issued any denomination higher than the $100,000 gold certificate. The highest value paper money printed for public use was the $10,000 bill, last issued in 1945.
Extremely high value bills were discontinued in the mid 20th century as the gold standard ended, transaction methods modernized, and counterfeiting risks increased. Both real and fake super high value bills remain collectible rarities today for their novelty, but no plans exist to reinstate such large denominations for general commerce.