Currently, the United States Mint issues bills in seven denominations: US$1, US$2, US$5, US$10, US$20, US$50 and US$100. For decades, it stopped making high-denomination currency such as US$500, US$1,000, US$5,000 and US$10,000, although they are still in legal use and continue in circulation. If you get your hands on a $500 bill, check it carefully, because a small detail could make you several thousand dollars.since it is being sought after by collectors.
If you ever have a US$500 bill you will be able to identify it immediately because It is printed on a paper with a different texture than the other coins. But it's actually another detail on the obverse that makes it more valuable. Nicknamed the channel fold bill, this one has an error in its printing which makes it at least four times more valuable than its face value.
The note in question was issued in 1928 and It has one of the most common errors when printing coins and a fold was embedded inside the paper before the ink reached it, so when it is unfolded you can see a blank space in the design, which although, in most cases, is almost imperceptible, in others it is quite visible.
Due to that detail it is that Recently a US$500 bill with the so-called channel fold was sold at Heritage Auctions for US$2,160as reported by the betting house itself on its website.
US$500 bills are worth more than that
As already mentioned, currently The United States Mint no longer issues US$500 bills. or larger denominations, which is why even those that do not have the fold error in the lower margin have a special value, since they are considered exotic. The mint of the North American country printed several editions of this bill in which the portrait of the twenty-fifth president William McKinley was presented.
The last US$500 bills were printed in 1945. and were officially withdrawn from circulation twenty-four years later, in 1969. However, they are still valid and considered legal tender, although, as expected, the majority are in the hands of dealers and collectors, which is why they have become especially valuable.
The value among numismatic lovers of a US$500 bill varies according to their condition and characteristics, but on trading pages such as eBay they can be found between US$600 and up to more than US$16,000.
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