The smallest denomination issued in the 1918 Federal Reserve Series was the $500 bill. Originally, this note featured the image of John Marshall, but with the 1934 Series redesign, Chief Justice Marshall was replaced by the effigy of President William McKinley for the duration of the note’s existence. Now, certified 1934 $500 Federal Reserve Notes are available to you for purchase online from JM Bullion.
- Notes arrive in plastic currency sleeves!
- Redesigned 1934 Series $500 Federal Reserve Notes!
- Limited availability of certified notes!
- Issued a face value of $500 (USD).
- Bears a Grade of Extremely Fine 40+.
- President William McKinley on the obverse.
- Denomination and nation of issue on the reverse.
When the 1918 Federal Reserve Series was introduced, these large denominations were intended for one purpose. The notes were issued to facilitate bank-to-bank transactions in an era before online banking and electronic wire transfers were possible. The majority of the American public never even saw these notes and they were not intended for use in circulation.
In fact, the $500 note was the only note that wasn’t in excess of the average annual salary of an American in the early 20th century. The $5,000 and $10,000 notes exceeded, or vastly exceeded in the case of the $10,000 note, the income of most Americans in the first half of the 20th century.
President William McKinley is featured on the obverse of the 1934 $500 Federal Reserve Note. This depiction captures McKinley in a slight-right-profile relief inside a porthole frame. McKinley was the 25th President of the United States and oversaw the nation during the Spanish-American War. He served from 1897 until his death in 1901, just after he won reelection in 1900.
The denomination and nation of issue feature as the primary elements on the reverse of 1934 $500 Federal Reserve Notes. This simpler design was common across all denominations with the 1934 Series overhaul. The 1918 Series notes featured ornate vignettes that had gone out of style on American currency by the 1930s.
These 1934 $500 Federal Reserve Notes are available in Extremely Fine 40, or better, condition. Housed in a protective plastic currency sleeve, these notes come with only three or four fold lines, one of which may be horizontal.
JM Bullion customer service is available to assist you with questions at 800-276-6508. You can also chat with us live online or simply send us an email with your inquiries.