[The U.S. got rid of its $500 note in 1969]
Uhh, I had $500 and $1000 bills in the 1990’s. Several times.
They are still around. You can get a worn-out $500 for $550 and a $1000 for $1100. A bill in better shape will cost more than one in worse shape. You can deposit them in a bank at face value and they will send it in to the Federal Reserve for destruction, although I suppose a smart bank employee would buy it for face value. All bills up to $10k are still as legal tender as the day they were issued. I have never seen a $5k or $10k but have seen tons of 500's and a lot of 1000's.
you should have hung on to them.
http://www.investopedia.com/slide-show/past-us-currency-denominations/
Like all the bills featured here, the $500 bill remains legal tender. Most $500 notes in circulation today are in the hands of dealers and collectors. That being said, should you come into possession of a $500 bill, you’d find that its market value far exceeds its face value, with even worn $500 bills commanding upward of a 40% premium on the open market.
Read more: 5 Famous Discontinued And Uncommon U.S. Currency Denominations http://www.investopedia.com/slide-show/past-us-currency-denominations/#ixzz4qP5P2E4h
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