This $500 Federal Reserve Note is from the 1934-A series issued by the San Francisco district. This particular note is a mule and has the EPQ (Exceptional Paper Quality) designation, which further adds to its collectibility.
- Second highest denomination used in circulation.
- Sealed in an inert mylar currency holder certified by PCGS.
- Graded Gem New-65 PPQ (Premium Paper Quality) by PCGS.
- 93,000 notes printed.
- Signatures: Julian/Morgenthau. Friedberg #2202-L.
- Face: Portrait of William McKinley (25th U.S. President).
- Back: Numeral 500 and the phrase “Five Hundred Dollars”.
Federal Reserve Notes are a great part of history that can easily be added to any collection. Add these great conversation pieces to your cart today!
Mule notes are created when there are changes to the note's plate number, and occur on large and small notes. Mules are produced in several ways. The first and most common mule is leftover stock of backs that were already printed from the previous series. The second occurs when old plates are reused.
PPQ stands for premium paper quality. This is the graders way of saying that the note is completely choice and original with no problematic condition issues like rust, stains, pinholes, etc. In theory PPQ could be found on any grade from 1 to 70. PMG has a similar qualifier. It is called EPQ, which stands for exceptional paper quality. PMG only uses the EPQ qualifier for grades 30 to 70. And notes graded 65 and higher have to have EPQ to get the designation.
Small size $500 Federal Reserve Notes were printed for three different Series. 1928, 1934 and 1934-A. There are a total of 35 different Series/District combinations available. That is 12 different districts from all three Series with the exception of Series 1934-A Boston $500s where none were printed.
Although they are still technically legal tender in the United States, high-denomination bills 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".