In the United States, a $10,000 bill issued by the Federal Reserve System in 1934 was sold at auction.

Heritage Auctions writes about it.

It far exceeded its value as it sold for $480,000. The bill was purchased by a private collector.

$10,000 bill / Photo: Heritage Auctions

The company said the rare bill depicting Treasury Secretary Salmon P. Chase is one of the highest quality specimens still in existence. The banknote put up for auction was never in circulation, and it was given a rating of exceptional paper quality.

$10,000 bill / Photo: Heritage Auctions

In 1969, the U.S. discontinued all banknotes over $500 due to low usage. $10,000 bills have ever only been used to transfer money between Federal Reserve banks.

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