Million Dollar Bill: How To Get Yours

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Is the one million dollar bill real?

The thought that a single piece of paper can turn you into a millionaire is pretty alluring. But does the one million dollar banknote really exist? The short answer to this is Yes, it does exist. But, it cannot be used for day-to-day transactions because it’s not an official banknote.  Wait, what does that mean?

The highest denomination banknote that’s printed for public circulation is the $10,000 dollar bill. Even then, there’s a limited number of these notes in circulation.

There’s also the $100,000 dollar gold certificate, but that was not for public circulation.  It was only for transactions between Federal Reserve Banks, not for the general public.

So Where Can I Get a Million-Dollar Bill?

Now as far as the million-dollar bill goes, they are not official banknotes and as such, they are not recognized as legal tender. In case you’re wondering, legal tender refers to any form of payment, which by law, can be used for commercial exchange or clearance of debts.

In the U.S., the only acceptable legal tender are the U.S. banknotes and coins that are issued by the Federal Reserve. The million-dollar bill is not among the banknotes issued by the Federal Reserve.

So who issues these bills? Well, these novelty banknotes are often issued by commercial firms like the Bank of Millionaires.

If you really want your own million dollar bill, you can get them on Amazon pretty cheap.

But it has a “Certificate of Authenticity”

I understand how confusing this can be. The million-dollar bill comes accompanied by the Certificate of Authenticity so it must be legit, right? Wrong.

If you read the fine print carefully, you’ll notice the section that describes the million-dollar banknote as part of the “limited edition of bills which were printed in serial number sequence and issued by the International Association of Millionaires as Collector Series.”

The keyword to note here is that these banknotes are part of the collector series. In other words, this bill is only recognized as a collector item, not legal currency.

What does the million-dollar bill look like?

If you’re keen, you’ve probably noticed that every other currency note comes with a portrait of a president. For instance, the $1 banknote exhibits the face of George Washington while the $100 has a portrait of Benjamin Franklin.

Being that the $1,000,000 dollar bill is not an actual currency, it does not have a portrait of a significant person. Instead, it includes a picture of the Statue of Liberty on the front side and Mt. Rushmore on the back.

Are one million dollar bills regarded as counterfeits?

No, they are not. Since the Federal Reserve does not produce any million-dollar banknotes itself, there aren’t any similar notes to compare them to for them to be considered a counterfeit.

As a result, the Federal Reserve does not consider owning any of the million-dollar bills an illegal activity. The only deal-breaker is that you cannot use them as a medium of exchange as they have no value.

Million Dollar Bill Wrap Up

While the $1,000,000 bill is in existence, it’s not recognized as legal tender. As such, it cannot be used for commercial exchange of goods, neither can it be used to clear a debt. Instead, the million-dollar novelty bill is categorized as a collector item.

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Hi, I'm GP. A personal finance expert with a mission to help Entirely Money readers break free of money worries. Combining a finance-focused education background (B.S. in Finance and MBA with Finance focus) with over 15 years of personal and corporate finance experience to help you achieve your financial best life!