<P> Large - denomination currency (i.e., banknotes with a face value of $500 or higher) had been used in the United States since the late 18th century . The first $500 note was issued by the Province of North Carolina, authorized by legislation dated May 10, 1780 . Virginia quickly followed suit and authorized the printing of $500 and $1,000 notes on October 16, 1780 and $2,000 notes on May 7, 1781 . High - denomination treasury notes were issued, for example during the War of 1812 ($1,000 notes authorized by an act dated June 30, 1812). During the American Civil War Confederate currency included $500 and $1,000 notes . During the Federal banknote issuing period (1861 to present), the earliest high - denomination notes included three - year Interest - bearing notes of $500, $1,000, and $5,000, authorized by Congress on July 17, 1861 . In total, 11 different types of U.S. currency were issued in high - denomination notes across nearly 20 different series dates . The obverse of United States banknotes generally depict either historical figures, allegorical figures symbolizing significant concepts (e.g., liberty, justice), or a combination of both . The reverse designs range from abstract scroll - work with ornate denomination identifiers to reproductions of historical art works . </P> <P> Series 1934 gold certificates ($100, $1,000, $10,000 and $100,000) were issued after the gold standard was repealed and gold was compulsorily confiscated by order of President Franklin Roosevelt on March 9, 1933 (see United States Executive Order 6102). Thus the series 1934 notes were used only for intra-government (i.e., Federal Reserve Bank) transactions and were not issued to the public . This series was discontinued in 1940 . The series 1928 gold certificate reverse was printed in black and green . See history of the United States dollar . </P> <P> Although they are still technically legal tender in the United States, high - denomination bills were last printed on December 27, 1945, and officially discontinued on July 14, 1969, by the Federal Reserve System, due to' lack of use' . The $5,000 and $10,000 effectively disappeared well before then . </P> <P> The Federal Reserve began taking high - denomination currency out of circulation (destroying large bills received by banks) in 1969 . As of May 30, 2009, only 336 $10,000 bills were known to exist; 342 remaining $5,000 bills; and 165,372 remaining $1,000 bills . Due to their rarity, collectors often pay considerably more than the face value of the bills to acquire them . Some are in museums in other parts of the world . </P>

When were 1000 dollar bills taken out of circulation