The E-Sylum:  Volume 6, Number 11, March 16, 2003, Article 8

NOTES ON HIGH DENOMINATION NOTES

  Ken Berger and David Ganz spotted a typo in last's week's
  item by Ron Haller Williams, who noted that "The highest
  denomination issued for public circulation was $10,000 (with
  the portrait of 19th-century U S Supreme Court Judge
  Salmon P Close)."

  The gentleman's name is of course, Salmon P. CHASE,
  whom Ganz notes "... was also Treasury Secretary in
  Lincoln's first term."

  David Ganz continues: "Currency notes of denominations
  above $100 are not available from the Department of the
  Treasury, the Federal Reserve System, or the Bureau of
  Engraving and Printing. On July 14, 1969, the Department
  of the Treasury and the Federal Reserve System announced
  that currency notes in denominations of $500, $1,000,
  $5,000, and $10,000 would be discontinued immediately
  due to lack of use. Although they were issued until 1969,
  they were last printed in 1945.

  The $100,000 Gold Certificate was never released into
  general circulation and was only used in fiscal channels.
  This note cannot be legally held by currency note collectors."

  Kavan Ratnatunga writes: "Promotional $million notes may
  get mistaken for real overseas.  I met the officer in the
  Central Bank of Sri Lanka who had to testify in this fraud
  case few years ago, and gifted him one as a souvenir.
  http://serendib.org/coins/media/cdn_1998.10.11_million.html

  [The link points to a page on Kavan's website containing a
  copy of a newspaper article describing the incident.  Some
  excerpts follow.  -Editor]

  "Police arrested a woman who attempted to encash US
  dollar one million currency note."

  "The suspect had returned from India recently and had
  unsuccessfully attempted to encash it in Chilaw, Negombo,
  Seeduwa and Wattala areas. Chilaw Police, on information
  received, sent a posse of policemen in mufti, posed as rich
  businessmen ..."

  "The broker who mistook the policemen in mufti as genuine
  businessmen, brought forth the woman with the currency
  (Rs.65 million) note to a place in Wattala on Friday afternoon.
  From there she was driven to the Chilaw Police.  The broker
  too was arrested."

  "Sources added that the currency bill looked genuine and is
  expected to be sent to the Central Bank for verification. But
  Police sources further added that even if it is genuine, the
  suspect should have made a declaration with the Customs
  on her arrival."

  Wayne Homren, Editor

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