‘It’s All About the Madisons’ doesn’t have quite the same ring

The Cotton Boll Conspiracy

$5000 bill1

The likelihood of coming across a $5,000 bill is infinitesimally minute. Banks don’t carry them, the US Department of the Treasury hasn’t produced any in more than 80 years and, besides, I personally can’t remember the last time I received more than 5K in change on a purchase.

Actually, the $5,000 bill, featuring diminutive Virginian James Madison, was recalled from circulation in 1969.

As with other large-denomination notes such as the $500, $1,000 and $10,000 bills, the $5,000 note served mainly for bank-transfer payments. With the arrival of more secure transfer technologies, however, they were no longer needed for that purpose, according to the US Department of the Treasury.

“While these notes are legal tender and may still be found in circulation today, the Federal Reserve Banks remove them from circulation and destroy them as they are received,” according to the Treasury website.

Not surprisingly, such notes tend to go for…

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