Quote:
This is one of the large denomination banknotes ($500- $100,000)
that were made for bank use only so I doubt if there would be
any counterfeits as there would be no way of distributing them.
All of the larger denomination notes printed and used for public exchange in the US are still legal tender. These include $500 thru $10000 denominations. (The $100,000 denomination was never released into public circulation as those were used for settlements between Federal Reserve Banks.)
Whenever a larger denomination note is deposited in this day and age the note is supposed to be retained for verification and redemption by the Fed. The customer receives a "pending" deposit of the face value pending verification.
I don't think I've seen or heard of one being deposited in the last 25 years.
They are worth much more than face but some people don't know that. Strange things happen.