US $5000 Dollar Banknote First Issued 1918

The US $5000 banknote first issued in 1918 is one of the highest denomination notes ever produced for public use in the United States. Created during a period of financial modernisation following the establishment of the Federal Reserve System, these large denomination notes were primarily intended for interbank transfers and large commercial transactions rather than everyday spending.

Printed in finely engraved black and green ink, the note is a classic example of early twentieth-century American banknote craftsmanship. The obverse features a portrait of James Madison, the fourth President of the United States and principal author of the US Constitution. His portrait is set within an ornate oval frame, surrounded by intricate scrollwork, bold denomination numerals and the distinctive blue Treasury seal used on Federal Reserve Notes of this era.

The reverse displays an elaborate historical engraving titled “Washington Resigning His Commission”, depicting George Washington formally relinquishing his military command after the American War of Independence. This detailed scene reflects the tradition of using grand historical tableaux on high-value US notes to convey stability, heritage and national identity.

Although these $5000 notes remain technically legal tender at their face value, they were withdrawn from general circulation in 1969 and are no longer distributed by banks. In practice, they are treated as rare collector pieces rather than spendable cash, and most banks will not accept them for deposit or exchange.

For customers wishing to exchange this note, we provide a specialist UK service for historic and withdrawn US banknotes:

• Indicate the quantity of US $5000 banknotes you want to exchange

• Click the ‘Add to your account’ button

• Your online account now shows the provisional exchange value

Because of the rarity of this denomination, all notes are subject to extended verification and authentication checks on receipt. We will carefully review and assess the banknote before confirming whether we are able to proceed with an exchange. This careful process is designed to protect both you and us from counterfeit or altered notes and to ensure a fair and accurate valuation.

These notes are withdrawn from normal circulation and not generally accepted by banks or retailers, but we specialise in handling historic high-denomination US currency and will always review genuine examples submitted to us.

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

Image: National Museum of American History