Banks can order $500 bills, but you may not be able to get one

The U.S. stopped printing $500 bills in 1969. If your bank has one, it came from an old collection or estate, not from the Federal Reserve's current supply. Most banks will not have $500 bills on hand, and many will refuse to sell you one even if they do, because these bills are rare and their value to collectors often exceeds face value.

If you need $500 in cash, your bank can give you five $100 bills or ten $50 bills the same day. If you specifically want a $500 bill as a collectible or for its historical value, you will need to contact a currency dealer or collector, not your bank.

Key Takeaways

  • The Federal Reserve stopped printing $500 bills in 1969, so banks cannot order new ones from the Fed.
  • If a bank has a $500 bill in inventory, it is usually kept as a collectible item and priced above face value.
  • For $500 in cash, your bank can provide it in smaller denominations ($100, $50, or $20 bills) within one business day.
  • Currency dealers and online marketplaces are the correct source if you want to buy a $500 bill as a collectible.

Why banks stopped stocking $500 bills

The $500 bill, along with the $1,000, $5,000, and $10,000 denominations, was discontinued by the Federal Reserve in 1969. The government decided these high-value bills were not necessary for everyday commerce and were sometimes used to move large sums of money in ways that were hard to track. Since then, the Fed has not printed any new $500 bills, and banks can only order from the existing supply in circulation.

That existing supply is tiny. Most $500 bills that are still around are held by collectors, museums, or banks that treat them as rare items. A typical bank branch will never see one in its entire operating history. Even if a bank did have one, the teller would likely flag it as unusual and might refuse to hand it over without manager approval.

What happens if you ask your bank for a $500 bill

If you walk into your bank and ask for a $500 bill, the teller will check the vault and the system. In almost every case, they will tell you the bank does not have one. If they do have one—which is extremely rare—they will likely tell you it is not for sale at face value, or they will refuse to sell it at all.

Some banks treat old high-denomination bills as collectibles and keep them in a safe deposit box or special inventory. If the bank does own a $500 bill, it may be priced at $600, $800, or more, depending on the bill's condition and rarity. The bank is under no obligation to sell it to you, and most will not.

How to get $500 in cash from your bank instead

If you need $500 in cash for a legitimate transaction, your bank can provide it the same day in standard denominations. Call ahead or visit a branch and ask for $500 in cash. The teller will count out five $100 bills, or ten $50 bills, or any mix you prefer. There is no fee for this, and no waiting period.

For larger amounts, some banks may ask you to give 24 hours' notice so they can make sure they have enough cash on hand. For $500, this is rarely necessary at a full-service branch, but it does not hurt to call first. If you are withdrawing from a savings account, the transaction will post immediately and the cash will be yours.

Where to buy a $500 bill as a collectible

If you want a $500 bill for its value as a rare item, currency dealers and online marketplaces are your only real option. Websites like eBay, Heritage Auctions, and specialized currency dealers list $500 bills for sale. Prices vary widely depending on the bill's series, condition, and rarity—a common $500 bill from the 1960s might sell for $600 to $1,000, while a rare series or one in exceptional condition could cost much more.

Before you buy, research the bill's authenticity. Counterfeit high-denomination bills do exist, and a dealer with a good reputation and authentication guarantees is worth the extra cost. Many dealers will provide a certificate of authenticity with the purchase.

Why $500 bills are still legal tender

Even though the $500 bill has not been printed since 1969, it is still legal tender in the United States. You can spend it at face value ($500) if you find a merchant willing to accept it, though most will not recognize it and may refuse. Banks are required to accept $500 bills if you bring them in, though they may ask questions about where you got it.

The reason banks and merchants are wary is that $500 bills are so rare that most people have never seen one. A teller or cashier might suspect it is counterfeit or stolen, even if it is genuine. If you own a $500 bill and want to deposit it, bring it to your bank with a clear explanation of where it came from.

Frequently Asked Questions

Can I order a $500 bill from the Federal Reserve?

No. The Federal Reserve stopped printing $500 bills in 1969 and has not resumed production. Banks cannot order new $500 bills from the Fed. If a bank has one, it came from an old collection or was obtained from another source.

Is a $500 bill worth more than $500?

Usually yes. Because $500 bills are rare and no longer printed, collectors pay a premium. A $500 bill in average condition typically sells for $600 to $1,000 or more, depending on its series and rarity. The exact price depends on what a buyer is willing to pay.

What if I found a $500 bill?

You can deposit it at your bank or spend it at face value. If you found it and want to keep it, the bank will accept it. If you think it might be valuable as a collectible, you can have it appraised by a currency dealer before deciding whether to spend it or sell it.

Can I use a $500 bill to pay for something at a store?

Technically yes, but most stores will not accept it. Cashiers are trained to recognize common denominations ($1, $5, $10, $20, $50, $100) and will likely refuse a $500 bill out of unfamiliarity or suspicion. Your best option is to exchange it at a bank for smaller bills first.