The one million dollar bill question?

Question

Is there such thing as a 1,000,000.00 USD bill?

When people do big money transactions, per instant 8 trillion dollars do they actually use 1,000,000.00 bills? Or do they carry by truck load of suitcases full of 100.00 bills?

Has anyone ever actually seen such thing? (You don't have to answer that)
Maybe know of someone who has? (You don’t have to answer that either)

Answer 1

According to the US Bureau of Printing and Egraving "fun facts" faq at

http://www.moneyfactory.gov/section.cfm/19

What was the highest denomination note ever printed?

The largest note ever printed by the Bureau of Engraving and Printing was the $100,000 Gold Certificate, Series 1934. These notes were printed from December 18, 1934 through January 9, 1935 and were issued by the Treasurer of the United States to Federal Reserve Banks only against an equal amount of gold bullion held by the Treasury. The notes were used for transactions between FRBs and were not circulated among the general public.


You can view images of large denomination bills at http://www.moneyfactory.gov/section.cfm/5/42

Answer 2

There use to be $100,000 bills, they were for transferring funds between Federal Reserve Banks, now it is done electronically.

The largest bills private citizens could use were $10,000 and $5,000 bills, they are no longer used. There are still some $1,000 and $500 bills in circulation, but once they make it to a bank the bank is suppose to turn them in for destruction. The reason the government doesn't promote large bills is to prevent counterfeiting. Plus it is easier to track electronic transactions. If you walk into a bank or business with a suitcase full of hundreds, you will be required to fill out IRS paper work, the IRS will likely want to know where you came up with the cash to insure that you pay the taxes that were required when you obtained the money.

Answer 3

There's no such thing as a million dollar bill and never has been. It's fake, or was made as a joke or an advertising gimmick. Whose picture is on it?

Answer 4

hmm good question, i dont think i would want to carry that much money on me at one time. i would by a huge house then make all the money in to ones and swim in it. oh but anyway there is such thing as checks maybe not a bill but you could right a check and carry that around!

Answer 5

No but I am pretty sure someone tried to make one! I saw lot's of fake ones in stores its was 5.00 for 1,000,000

Answer 6

it's called wire transfer or cashiers check

Answer 7

its called credit and banks, dawg.