Grover Cleveland, the 22nd and 24th president of the United States, is the face on the $1,000 bill. His portrait appears on the most commonly encountered version, the Series 1928 and 1934 Federal Reserve Notes with green seals. Earlier versions of the $1,000 bill featured different portraits, and the bill itself hasn’t been printed in over half a century.
Why Grover Cleveland
Cleveland is the only U.S. president to serve two non-consecutive terms (1885 to 1889, then 1893 to 1897), which made him a distinctive historical figure by the time the Bureau of Engraving and Printing designed the Series 1928 note. High-denomination bills traditionally featured presidents or other prominent statesmen, and Cleveland’s portrait carried over into the 1934 series as well. These green-seal Federal Reserve Notes from 1928 and 1934 are the ones that survive in the largest numbers today, so when people talk about “the $1,000 bill,” they’re almost always referring to the Cleveland note.
Earlier Versions Had Different Portraits
The $1,000 denomination existed in several forms before the familiar green-seal note. The 1918 Federal Reserve Note (blue seal) featured Alexander Hamilton. Gold Certificates from 1907 and 1922 also carried the $1,000 denomination. These older versions are far rarer and command significantly higher prices from collectors than the 1928 and 1934 Cleveland notes.
When the $1,000 Bill Was Discontinued
On July 14, 1969, the Department of the Treasury and the Federal Reserve announced that currency in denominations of $500, $1,000, $5,000, and $10,000 would be discontinued immediately due to lack of use. The government had already stopped printing new $1,000 bills decades earlier, but the 1969 decision formally pulled these denominations from production and distribution. The rise of checks, wire transfers, and eventually electronic payments had made carrying large-denomination cash unnecessary for most transactions. There were also concerns that high-denomination bills made it easier to move large sums of money anonymously.
Still Legal Tender
Despite being discontinued, the $1,000 bill remains legal tender. You could technically walk into a bank and deposit one, and it would be credited to your account at face value. In practice, though, spending or depositing a $1,000 bill would almost always be a financial mistake, because these notes are worth far more than $1,000 to collectors.
What a $1,000 Bill Is Worth Today
The collector value of a $1,000 bill depends heavily on its series year, seal color, and physical condition. The most common versions, the 1934 and 1934A green-seal Federal Reserve Notes, sell for roughly $2,400 to $4,600 in circulated condition and $6,000 or more in uncirculated condition. The 1928 green-seal notes run slightly higher, typically $3,600 to $5,600 circulated and $7,000 or more uncirculated.
Rarer varieties command dramatically more. A 1918 blue-seal Federal Reserve Note in circulated condition sells for $16,000 to $40,000, with uncirculated examples reaching $60,000 and up. Gold Certificates are even pricier: a 1907 Gold Certificate ranges from $7,500 to $18,500 in circulated grades, while an 1882 Gold Certificate (red seal) is exceptionally rare, with values reaching $300,000 to $750,000 or more.
Serial numbers, the specific Federal Reserve district that issued the note, and whether the bill is a “star note” (a replacement note, identifiable by a star in the serial number) all influence the final price. If you happen to have one, getting it professionally graded before selling will help you understand exactly what you’re holding.