US $500 Dollar Banknote (William McKinley) Issued 1934

United States dollar banknotes have been issued in a wide range of denominations and series by the Federal Reserve, including this US $500 banknote featuring President William McKinley, issued in 1934. This note belongs to the era of large-denomination US currency that was primarily intended for interbank transfers and institutional use rather than everyday public circulation.

The $500 banknote is printed mainly in black and green ink on light-coloured paper and carries the distinctive design characteristics of high-value US notes of the period. Issued during the early years of the Great Depression, this series reflects a time when large denominations played a practical role in the American banking system before advances in electronic settlement reduced their necessity.

Although marked as legal tender in the United States, the $500 banknote was officially withdrawn from circulation in 1969. It is no longer distributed by banks and is rarely accepted in everyday financial transactions. Today, it is widely regarded as a withdrawn or legacy banknote, with most examples held by collectors, institutions, or discovered as long-stored assets.

On the obverse of the banknote is an engraved portrait of William McKinley, the 25th President of the United States. His portrait is centrally positioned within an ornate oval frame, surrounded by intricate linework and formal decorative elements. The denomination “Five Hundred Dollars” is prominently displayed, alongside the Federal Reserve seal, Treasury seal, and serial numbers.

The reverse of the note features a large engraved denomination design, with “500” repeated in bold numerals and framed by elaborate scrollwork. Unlike lower denominations, the reverse prioritises denomination clarity and anti-counterfeiting complexity over pictorial scenes, reinforcing its role as a high-value financial instrument.

This $500 series is notable for its rarity, historical importance, and museum-grade engraving. While it remains legal tender by definition, it is no longer in circulation and is treated as a withdrawn banknote for practical exchange purposes.

• Indicate the quantity of US $500 banknotes you want to exchange

• Click the ‘Add to your account’ button

• Your online account now shows the exchange value

If you are looking to exchange withdrawn or high-denomination US dollar banknotes, we provide a secure and specialist UK service for legacy United States currency. Many banks no longer accept large-value US notes, particularly older series such as the $500 denomination, but we regularly assess and handle historic US banknotes on a case-by-case basis.

Please note that high-value and withdrawn US banknotes may require additional authentication checks before an exchange can be approved. Rarer or higher-denomination notes may take longer than five working days to process due to enhanced verification requirements.

For all high-value transactions, we will require valid identification in order to comply with Anti-Money Laundering Regulations (AMLR).