In 1969, the federal government cut $500, $1,000, $5,000, and $10,000 bills from circulation, making the $100 bill the largest denomination of currency still in circulation. At that time, though, the C-note had in excess of a century of history behind it.
The first national banknotes were issued in 1862 as part of a Civil War funding effort; they became legal tender later that year and were known colloquially as greenbacks. Among the initial offering were $100 notes bearing the portrait of Gen. Winfield Scott.
The first Federal Reserve notes, issued by the government in 1914, featured a portrait of a Founding Father whose name is now synonymous with big bucks: Benjamin Franklin. They coexisted with the previous kind of Treasury notes to become the official currency of the United States.
Fast-forward nearly 110 years, and some Benjamins are worth a whole lot more than a hundred bucks.
1863 $100 Gold Certificate
$2.12 million
This special C-note was among the very first in a series known as gold certificates — and they’re not only called that because they were printed with black ink on gold-tinted paper. The phrase “One Hundred Dollars in Gold Coin” appears on the back.
Originally issued in 1863, there are only three known examples in existence. Two are in the Smithsonian, which leaves just one in private hands.
The extremely high grade non-Benjamin Benjamin sold for $2,115,000 on April 26, 2013 at a Heritage Auctions sale.
1882 $100 Gold Certificate
$822,500
Another example, belonging to the gold certificate series and dated 1882, bearing the portrait of Thomas Hart Benton, became one of the costliest historical currency notes at auction for $253,000 in 1998. On Jan. 10, 2014, it brought more than three times that amount at Heritage Auctions.
Like the 1863 example, it’s one of only three that are known to exist. One of the other two known copies is damaged and secured at the Federal Reserve Bank of New York. The other had been held at the Federal Reserve Bank of San Francisco until it sold for $750,000 at Heritage Auctions on Oct. 26, 2022.
1878 $100 Silver Certificate
$540,000
The first silver certificates followed shortly after the gold notes, and Series 1878 is so coveted that not a single one was publicly shown in the 30 years up until 2019, and none were listed for auction for 40 years.
FAQs
1. Series 1928 $100 Gold Certificate
- Description: These bills are especially rare and feature a gold seal and serial numbers, indicating that they were redeemable in gold. They were only issued for a short period and are highly sought after by collectors.
- Value: Depending on the condition, these can range from $1,500 to $10,000 or more.
2. Series 1934 $100 North Africa Note
- Description: These notes were issued during World War II for use by U.S. troops in North Africa. They feature a yellow seal, which distinguishes them from other bills.
- Value: In good condition, these notes can be valued between $1,000 and $2,500, but uncirculated examples can go much higher.
3. Series 1950 $100 Federal Reserve Note
- Description: While not as rare as some other series, the 1950 series is still of interest to collectors, particularly in uncirculated condition.
- Value: A typical 1950 series $100 bill in uncirculated condition might be worth $150 to $400.
4. Star Notes
- Description: Star notes are replacement notes issued by the Bureau of Engraving and Printing when a bill is found to be defective. These notes have a star (*) at the end of the serial number instead of a letter.
- Value: The value of star notes can vary widely based on the series and condition. For example, a 1966 star note could be worth $200 to $2,000.