Richmond, TX asked in Banking and Gov & Administrative Law for Texas

Q: I have a close friend who says he is holding a $100 million Federal Reserve Note that was issued couple decades ago.

I have seen it, it looks like old paper with some endorsements and seals on it. He says his father left it to him and he wants to cash it however I am not sure if it is a legit Federal Reserve Note. Did the Federal Reserve Bank ever print $ 100 million reserve note back in the day? If so, how can he cash it?

1 Lawyer Answer
John Michael Frick
John Michael Frick
  • Business Law Lawyer
  • Frisco, TX
  • Licensed in Texas

A: The United States has never issued a federal reserve note in a denomination larger than $10,000. Denominations of $500 and larger have not been printed since 1945.

There are only a small number of $10,000 notes still in existence. Half are from the Binion hoard.

Your friend’s $100 million note is fake.

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