We were in Philadelphia for 5 days, and while walking around downtown on Saturday, we saw the Federal Reserve Bank, with a sign to come in and see the Money in Motion exhibit. It was free, so I joked that maybe they'll give us free money for going in..and they did! One hundred dollars each..check out the picture......
It was a very interesting and informative tour. There is one of the money carts they use, filled with neatly wrapped stacks of 5 dollar bills, that is 1.35 million dollars right before your eyes.
There are also displays of the big notes, like the 5,000, 10,000 and the 100,000 dollar bills.
The 100,000 dollar bill was printed only from 1934 to 1935. It was never publicly circulated and was only used for transactions between Federal Reserve Banks.
Although they are still technically legal tender in the United States, the high-denomination bills, including the 5,000 and 10,000 were last printed on December 27, 1945, and officially discontinued on July 14, 1969, by the Federal Reserve System, supposedly due to 'lack of use'. The $5,000 and $10,000 effectively disappeared well before then.
We also learned a lot about how US monetary policy is set, and the history of the Federal Reserve. No picture taking is allowed inside, because of the security, but it is well worth the free admission.
And, the Philedelphia Federal Reserve shreds 2.5 billion dollars per year in old, worn out bills, so i don't think they'll run out of the cool momentos!
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