6 Discontinued and Uncommon U.S. Currency Denominations

Throughout its history, the United States has issued a variety of currency denominations. Some of these have become discontinued or are considered uncommon today. These unique banknotes provide insight into the nation’s monetary evolution and offer collectors a glimpse into the past.

These discontinued and uncommon currencies offer a glimpse into the evolution of money in the United States. It showcases the creativity and challenges faced by the nation’s financial system.

Let’s take a closer look at six discontinued and uncommon U.S. currency denominations.

6 Discontinued and Uncommon U.S. Currency Denominations – Overview

Denomination	Years in Circulation	Description
One Cent Coin	1793 – present	Also known as the penny, featuring Abraham Lincoln.
Two Cent Coin	1864 – 1873	First U.S. coin to bear the “In God We Trust” motto.
Five Cent Coin	1866 – present	Commonly referred to as the nickel.
Zero Cent Coin	2021 – 2021	A novelty coin issued for symbolic purposes.

Values Of Coins

• One Cent Coin: 1 cent
• Two Cent Coin: 2 cents
• Five Cent Coin: 5 cents
• Zero Cent Coin: Not a legal tender; symbolic value.

Current Denomination Being Used in the U.S.

The current denominations being used in the US include the penny (one cent), nickel (five cents), dime (ten cents), quarter (twenty-five cents), half dollar (fifty cents), and dollar coins (Susan B. Anthony, Sacagawea, and Presidential dollars).

Discontinued and Uncommon U.S. Currency Denominations

1. Two Dollar Bill

The two-dollar bill is one of the most recognizable discontinued denominations in U.S. currency. Although still in circulation, it is relatively uncommon compared to other denominations. It features a portrait of Thomas Jefferson on the obverse and an image of the signing of the Declaration of Independence on the reverse. The two-dollar bill has a rich historical significance and is often taken care after by collectors.

2. Three Dollar Bill

The three-dollar bill is a discontinued denomination that the United States issued in the 19th century. While it may sound like a novelty, three-dollar bills were once circulated alongside other denominations. However, due to their limited use and confusion at the time, they were eventually out of circulation. This makes them rare finds for collectors today.

3. Five Hundred Dollar Bill

The five-hundred-dollar bill is another discontinued denomination that was last printed in 1945. It was officially withdrawn from circulation in 1969. It features a portrait of President William McKinley on the obverse. The five-hundred-dollar bill was primarily used for large transactions between banks and businesses. Today, these banknotes are highly sought after by collectors and can fetch significant premiums at auctions.

4. One Thousand Dollar Bill

The one-thousand-dollar bill is among the highest denominations ever issued by the United States. It features a portrait of President Grover Cleveland on the obverse. These banknotes were primarily used for interbank transactions and were not commonly circulated among the general public. Like the five-hundred-dollar bill, the one-thousand-dollar bill was withdrawn from circulation in 1969 but remains highly collectible today.

5. Five Thousand Dollar Bill

The five-thousand-dollar bill is an extremely rare and valuable denomination that was last printed in 1945. It was officially withdrawn from circulation in 1969. It features a portrait of President James Madison on the obverse. The five-thousand-dollar bill was primarily used for large financial transactions between banks and government institutions. Today, surviving specimens of this banknote are highly prized by collectors and command significant prices in the numismatic market.

6. One Hundred Thousand Dollar Gold Certificate

While not technically a banknote, the one-hundred-thousand-dollar gold certificate is one of the rarest and most valuable pieces of U.S. currency ever produced. Issued during the Great Depression in 1934, these certificates were used by the Federal Reserve to transfer gold reserves between its regional banks. Featuring a striking design with a portrait of President Woodrow Wilson on the obverse, the one-hundred-thousand-dollar gold certificate is considered a numismatic treasure and is highly coveted by collectors worldwide.

Discontinued and Uncommon Coin Denominations in the U.S.

Discontinued and uncommon coin denominations in the U.S. are Once Cent Coin, Two Cent Coin,, Five Cent Coin, and Zero Cent Coin.

One Cent Coin

The one cent coin, commonly known as the penny, has been in circulation since 1793. Featuring the profile of Abraham Lincoln on its obverse, it is one of the most recognizable coins in the US.

Two Cent Coin

Introduced during the Civil War in 1864, the two cent coin was the first US coin to bear the motto “In God We Trust”. However, it was only minted for a short period until 1873 due to low demand.

Five Cent Coin

The five cent coin, commonly referred to as the nickel, has been in circulation since 1866. Initially made of nickel and copper, its composition changed over time due to metal shortages during war periods.

Zero Cent Coin

In 2021, the United States Mint released a novelty coin known as the zero cent coin. Although not intended for circulation, it served as a symbolic representation of the concept of zero and was only available for purchase through the US Mint.

American Coins which are not in Use

Apart from the aforementioned discontinued denominations, several other coins have been issued by the US Mint but are not currently in use. These include the half cent, twenty cent piece, three cent coin (both silver and nickel versions), and the gold dollar coin.

6 Discontinued and Uncommon U.S. Currency Denominations – Interesting Facts

1. The half cent, discontinued in 1857, had its production cost higher than its face value, leading to its eventual discontinuation.
2. The twenty cent piece, minted from 1875 to 1878, was often confused with the quarter due to its similar size and design, leading to its short-lived existence.
3. The three cent coin, introduced during the Civil War, was primarily used for small transactions and postage payments.
4. The gold dollar coin, minted from 1849 to 1889, featured various designs reflecting the changing times and political landscapes of the United States.
5. The Susan B. Anthony dollar, minted from 1979 to 1981 and again in 1999, was the first US coin to honor a woman’s achievements in American history.
6. The Presidential dollar series, launched in 2007, features portraits of former US Presidents and their notable achievements, aiming to educate the public about American history through circulating currency.

Conclusion

Each coin and bill has its own story to tell, showing how money changed over time in America. The big bills, like the $500 and $1,000 ones, were used for big deals back in the day.

These old coins and bills aren’t just about money. They’re like little time capsules, showing us what people cared about and how they saw the world. The designs on them, like eagles and famous faces, tell stories of patriotism and pride.

But times change, and so does money. Some of these old currencies aren’t around anymore. In the end, exploring these unique U.S. money stories is like taking a trip through time. They show us how money wasn’t just about buying things – it was about history, innovation, and the spirit of a nation. And even though our money might look different today, the stories behind it will always be part of our country’s rich heritage.

FAQs on 6 Discontinued and Uncommon U.S. Currency Denominations

Why were two-cent coins made?

Ans.Two-cent coins were introduced during the Civil War to address a shortage of small coins. They’re not used anymore because as the economy evolved, there was less need for such a small denomination.

What is fractional currency?

Ans. Fractional currency was paper money issued in fractions of a dollar, like 3 cents or 50 cents. It was important during the Civil War because there weren’t enough coins available due to the war effort, so this paper currency filled the gap.

Why were $500 and $1,000 bills made?

Ans. $500 and $1,000 bills were made for large transactions, primarily for banks and businesses. They’re not in circulation anymore due to concerns about their potential use in illegal activities like money laundering.

What is the significance of the $100,000 gold certificate?

Ans. The $100,000 gold certificate was the highest denomination ever printed, but it was only used for transactions between Federal Reserve Banks. It was never used by the public because it represented an extremely high value and was more of a symbol of the gold standard rather than practical currency.

Why do some old coins and bills feature unique designs?

Ans. The designs on old coins and bills reflect the cultural and historical values of their time. For example, symbols like eagles and famous faces represent patriotism and national identity, while other motifs might symbolize important events or ideals cherished by society during that era.