When Was the First Time the US Treasury Created $100 Bills and Other Fascinating Facts
When was the first time the US Treasury created $100 bills? This question, paired with other intriguing facts about the US $100 bill, provides a fascinating journey through the rich history of American currency. This article delves into the origins of the $100 bill and many lesser-known details about one of the most recognized and iconic denominations in the US.
Origins of the $100 Bill
The first United States Note with a denomination of $100 was issued in 1862. However, the $100 bill as we know it today did not come into existence until 1914 when the Federal Reserve Notes were introduced. These notes, featuring portraits of prominent American figures like Benjamin Franklin, became the standard form of $100 bills used in everyday transactions.
Benjamin Franklin and the $100 Bill
Benjamin Franklin is a familiar figure on the $100 bill today. His portrait, which has been used since 1914, sets him apart from many other US currency designs. While Franklin's inclusion on the $100 bill is widely known, there's more to his legacy in American currency than meets the eye.
Other Historical Notes About the $100 Bill
1861 Interest-Bearing Notes: There were $100 Interest-Bearing Notes first issued in 1861, making that the first time $100 bills were created by the US Treasury, albeit not in the form of Federal Reserve Notes. Changes in Design: The newest design for the $100 bill, featuring a portrait of Alexander Hamilton, was introduced in 2013. This replaced the Franklin bill due to increased security features and anti-counterfeiting measures. Frequency of Use: Despite its value, the $100 bill is one of the most commonly used denominations in the US. It is often used for large transactions such as real estate payments or significant business deals. Pop Culture References: The $100 bill has become a cultural icon, featured in numerous movies, TV shows, and books. It is often used as a symbol of financial success and wealth.Lesser-Known Facts About the $100 Bill
Here are some lesser-known facts about the US $100 bill that might surprise you:
Alternative Designs: The current design featuring Alexander Hamilton has been in use since 2013. However, before that, a portrait of a Native American on the obverse and a portrait of the Supreme Court on the reverse was used until 1929. This was the longest-used U.S. bill design featuring statutory (legal) restrictions on private individuals. Anti-Counterfeiting Measures: The latest design of the $100 bill includes numerous security features such as holograms, watermarks, and color-shifting ink, making it one of the most secure bills in circulation. International Perception: The $100 bill is not the highest denomination in terms of purchasing power within the United States, but it is one of the most widely recognized and used denominations, which has led to it being more commonly used in international transactions.Conclusion
The $100 bill, first created in 1862 and standardized in 1914, is a testament to the rich history and evolving nature of American currency. From its humble beginnings to its current state of high security and cultural significance, the $100 bill continues to play a crucial role in the financial landscape of the United States and the world beyond.