Today’s Historical Headline: Big U.S. bills to be dropped
On July 14, 1969, the U.S. government removed the $500, $1,000, $5,000 and $10,000 bills from circulation. None of the bills had been printed since 1946, and had mainly been used for transactions by banks.
In case you were wondering, here’s who graced the banknotes before they were taken out of circulation:
$500: William McKinley, 25th U.S. President
$1,000: Grover Cleveland, 22nd and 24th U.S. President
$5,000: James Madison, fourth U.S. President
$10,000: Salmon P. Chase, sixth U.S. Chief Justice
If you want to learn more about U.S. currency, check out the Richmond Federal Reserve’s FAQ page on currency.
(Photo from here. Headline from the Spokane Daily Chronicle.)