(225) $1,000 dollar bills

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Posted By: MVSNYC

i am reading an amazing book on Babe Ruth "Big Bam- the life & times of babe ruth", by Leigh Montville (author of "Ted Williams")...i am about 1/3 of the way thru it, and it is right at the point where he goes to the Yankees...

anyway, just wanted to share a quick story from the book:

Col. Ruppert & Col. Huston purchased the Yankees in 1914 for $450,000. the day of the actual transaction, Col. Ruppert showed up with his lawyer and a certified check for his half...meanwhile, Col. Huston showed up to the meeting by himself, sat down and reached into his pocket and pulled out a roll of cash, and proceeded to count out (225) $1,000 bills for his half of the team...

great book, i highly suggest getting it.

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Posted By: barrysloate

There was a time when large bills were in circulation. I remember when I was a kid my dad got a $500 bill from the bank. I think he had to order it and got it a few days later. I don't believe banks can do that anymore.

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Posted By: ramram

Question No. 1 - If they still had $1,000 bills in circulation, then how big of a coat would a buyer need to pull out enough of those $1,000 bills to buy the Yankees from George Steinbrenner (or, more interestingly, how much more would his coat weigh)?

Question No. 2 - How about if that owner only had $100 bills (which, of course, is the largest denomination available now)?

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Posted By: DJ

...when was the last time a $100,000 bill was offered for auction?

I know they were only issued for the Federal Banks, but is it possible that some could have escaped?

DJ

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Posted By: barrysloate

$100,000 bills, which picture Woodrow Wilson, are not legal tender. They were only used to transfer money from one federal reserve bank to another. I don't believe a private citizen is allowed to own one.

For the record:

$500 William McKinley
$1000 Grover Cleveland (not Alexander!)
$5000 James Madison
$10,000 Salmon P. Chase

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Posted By: boxingcardman

Should be Alexander; he had a better record

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Posted By: MVSNYC

Reporter to Babe Ruth: "do you realize you made more than the president last year?"

Babe Ruth- "i should have, i had a better year."

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Posted By: peter chao

Guys,

When was the last time you have had a $1,000 bill in your hands. I've never had one.

Peter

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Posted By: MVSNYC

if i remember correctly, i think a family friend had both a $1,000 bill & $500 bill. i must have been in my teens when i held them.

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Posted By: Bob Lemke

At the old paper money show in Memphis in the late 1970s I had the opportunity to handle original, genuine $5,000 and $10,000 notes. They were in a display case on the show floor, which was being used to exhibit some of the treasures from the currency collection of Amon Carter, Jr. At the time I was working on compiling the Standard Catalog of U.S. Paper Money, and needed photos of the high-denomination notes. I asked Amon if I could borrow them for a bit to take to our (Krause) booth in the lobby to shoot them. Without taking the cigarfrom his mouth, he reached into the case and tossed me the notes. I'm not even sure he knew who I was at the time. Over the years I spent a good deal of bar time with Amon at the Memphis shows; he could spin yarns for hours about the Texas Rangers players(he was part-owner of the team), about his father's attempts to form the Continental Baseball League in the early 1960s, and about his time in German POW camps in WWII. Superficially he was the epitome, almost a caricature, of a Texas billionaire, but when you got to know him, he was like your favorite (rich) uncle. If he had ever decided to turn his love of baseball and his collector instincts to the baseball card/memorabilia field it would have been awesome to watch the collection he would have built.

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Posted By: Jeff Mohler

I think $500 and $1,000 notes are readily available on ebay.

Back in 1989 the law firm I was working for opened a safe deposit box for a deceased client. There was about $10,000 in US paper currency all dating from the 1930's. Included in the finder were a 500 and two 1000's. Despite my protestations about the collector value, the money was taken to the teller's window and deposited. I guess the big bills were taken back to the Fed and destroyed.

I always wondered what led to the money being left in a safe deposit box for 50 years. Was it prohibition money or perhaps WWII profiteering?

Jeff

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Posted By: peter chao

Jeff,

It was probably some baseball card collector's hidden stash for emergency purchases. Come on admit it, guys, we all have a certain amount of money hidden from our wives in case of a baseball card emergency. Like if you saw a T206 Cobb with a Uzit back or something of that nature, your going to go to your hidden stash and make the payment.

Sure beats trying to explain the purchase to your wife.

Peter

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Posted By: Josh Adams

Montey Burns had in his possession a Trillion Dollar bill.

Go Go White Sox
2005 World Series Champions!

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Posted By: Jay

My father collects currency. He has both a 500 and a 1000 dollar bill. There are very cool, and somewhat tough to find. Would be cool to pay for half of a baseball team in cash today.

Jay

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Posted By: barrysloate

Josh- that is correct. And Homer was sent to spy on him to try to retrieve it!

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Posted By: ramram

Question No. 1 - If they still had $1,000 bills in circulation, then how big of a coat would a buyer need to pull out enough of those $1,000 bills to buy the Yankees from George Steinbrenner (or, more interestingly, how much more would his coat weigh)?

Answer No. 1 - The Yankees are reportedly worth one billion dollars. All US paper currency weighs one gram. There are 454 grams in a pound so 454 currency notes would weigh one pound. One billion dollars would be one million $1000 notes. One million thousand dollar notes would therefore weigh 2200 pounds or just over a ton. So...one ton of $1000 notes might get you the Yankees.

Question No. 2 - How about if that owner only had $100 bills (which, of course, is the largest denomination available now)?

Answer No. 2 - 10 tons.

Ok, now I gotta go find a life again.

Rob M.

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Posted By: George Dreher

Just wanted to personally thank you for all the years of hard work you've put into editing and compiling the various catalogs, price guides, counterfeit guides, etc.
I literally have an entire bookcase here with your publications. You've contributed to so many invaluable hobby publications, there should be a sports hobby Hall of Fame with your plaque at the entrance. Not only are they valuable for reference, many of them are more interesting to read than most novels, at least for this hobbyist.

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Posted By: David Smith

Ah, Ramram, but what if you didn't like the seller and paid in pennies?


David

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Posted By: BcD

this guy has piles and piles of $500 and $1000 bills and some $5 and 10k bills!

http://www.jhonecash.com/home/

there is an uncut sheet of $100,000 bills here-

http://www.money.org/AM/Template.cfm?Section=Home

the 1k and $500 bills are Fed notes not made since 1928
there are also much rarer Gold notes of the same denominations~

this guy sells the above stated bills with regularity at most major coin shows~


http://www.oldcoinshop.com/aboutold.htm







BcD

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Posted By: Paul

A little bit of interesting reading about big bills.

http://en.wikipedia.org/wiki/Large_bills

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Posted By: barrysloate

I like the orange back on that 100K note. I think all of them were gold certificates, while the 10K and 5K notes pictured are silver certificates (blue seal).

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Posted By: BcD

5 and 10k notes were produced as gold notes as well as silver cverts and fed notes!

also,they are "small bills" not big notes to the poster above you.

big bills are like the "wood chopper" series and would not fit in modern day wallets!





BcD

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Posted By: Richard Dwyer

You need a really jacket to carry this:

http://www.latimes.com/news/la-fg-meth17mar17,0,3877797.story?track=mostviewed-storylevel

Click on picture to enlarge.

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Posted By: Paul

Sorry for my poor use of currency terminology. When I said "big bills," I meant "high denomination bills." I didn't mean oversized.

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Posted By: BcD

after nine years of net54 banners!

BcD

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Posted By: Frank Wakefield

Well it seems I need to do 2 things.

First, buy that book, and read it.

Then get on eBay and win me a $1000 bill.


That's 4 things, isn't it.