When was the last time you looked—really looked—at a $100 bill? Most of us take them at face value, assuming that a Benjamin is worth precisely $100. No more, no less.
But to currency collectors, the value of a $100 bill can far exceed what‘s printed on the note. In fact, some of the rarest and most sought-after $100 bills are worth tens of thousands or even millions of dollars to the right buyer.
In this in-depth guide, we‘ll explore the fascinating world of collectible $100 bills. You‘ll learn about the history of the denomination, see some record-breaking examples, and find out what makes certain bills so darn valuable. By the end, you‘ll know how to spot a treasure in your wallet—and maybe even be inspired to start collecting yourself!
The Evolving Benjamin: $100 Bill Designs Through the Years
The $100 bill as we know it today looks quite different than it did when first issued during the Civil War in 1862. That initial design, known as a Legal Tender or United States Note, featured a portrait of Revolutionary War general Winfield Scott.
In 1869, a new $100 United States Note swapped out Scott for Abraham Lincoln‘s portrait. Then in 1878, the first $100 Silver Certificates were issued. These notes featured James Monroe on the front and were redeemable for silver dollars.
It wasn‘t until the Series of 1914 that the $100 Federal Reserve Note was born, featuring founding father Benjamin Franklin on the obverse. Though the backdrop and border designs have changed over the years, Franklin‘s iconic portrait remains on the $100 FRN to this day.
Here is a quick timeline of the major design changes to the $100 bill:
- 1862 – First $100 Legal Tender issued with Winfield Scott
- 1869 – New Legal Tender design features Abraham Lincoln
- 1878 – First $100 Silver Certificates issued with James Monroe
- 1890 – $100 Treasury or "Coin" Notes issued with Admiral David Farragut
- 1914 – First $100 Federal Reserve Notes feature Benjamin Franklin
- 1990 – Security features like microprinting and color-shifting ink added
- 1996 – Larger off-center portrait and additional security updates
- 2009 – New design released early to circumvent counterfeiting
- 2013 – Current design with a blue ribbon, color-shifting bell, and 3D security strip
Today‘s $100 bill incorporates a dizzying array of anti-counterfeiting measures, from tiny text microprinted on Franklin‘s collar to a color-shifting liberty bell. But collectors tend to prefer older notes in all their ornate glory.
"For most people, modern notes lack the aesthetic appeal of earlier ‘vintage‘ designs with their intricate engraving and use of color. There‘s also more historical significance to owning an obsolete note that was once a redeemable claim for gold or silver."
– Jacob Lipson, Currency Specialist, Heritage Auctions
What Makes a $100 Bill Valuable to Collectors?
So what separates an average $100 bill from one that a collector would pay big bucks for? While there‘s no hard-and-fast formula, most valuable notes share some combination of the following traits:
1. Rarity
As with most collectibles, a $100 bill is generally more valuable the scarcer it is. Bills with very low print runs due to limited demand or printing errors can command huge premiums on the secondary market.
For example, only about 24,000 Series 1890 $100 Treasury Notes were printed in total. By comparison, over 13 billion Series 2009 $100 bills have been printed to date. Even in perfect condition, a 2009 note is unlikely to ever be "rare."
2. Condition
The physical condition of a note has a huge impact on its collectible value. Notes are graded on the 70-point Sheldon Scale, with 70 representing an absolutely perfect note.
At a bare minimum, most collectors look for notes in Extra Fine (XF40) condition or better, meaning that they are clean, bright, and have clear creases. Notes graded New (60) or better are very desirable.
It‘s counter-intuitive, but higher denominations like the $100 bill are often easier to find in uncirculated condition than $1s or $5s. That‘s because lower value bills see much more use in circulation.
3. Serial Numbers
Collectors really geek out over serial numbers. Each bill has a unique combination of 11 numbers and letters representing the series and issuing district.
Low serial numbers (00000001-00000100) are very popular, especially on modern notes. So are essential repeaters (11111111), radars (12344321), binary (01010101), and other "fancy" numbers. A "special" serial number can bump up the value 10-50% vs a note with an ordinary number.
4. Misprints and Errors
Some of the most valuable $100 bills are the result of mistakes made during the production process. Minor errors like an insufficient inking, misaligned serial numbers, or cutting outside the normal dimensions are fairly common.
But major errors can be extremely rare and sought after by error note specialists. Bills that are missing serial numbers, have blank backs, or have been folded during printing are considered holy grails for serious error collectors.
5. Provenance and Pedigree
Sometimes a note‘s value has more to do with who owned it than what it looks like. Bills known to have famous owners, like celebrities or politicians, can fetch serious premiums.
For example, a fairly ordinary Series 1934 $100 bill that was signed by baseball legends Babe Ruth and Lou Gehrig recently sold at auction for over $125,000! Tracing back a note‘s history through censuses and population reports can also boost its value and appeal.
"Unless it‘s a super rare type or an amazing error, most vintage notes trade based on their numeric grade. But a great backstory can make an otherwise common bill really special. I‘ve heard of people paying stupid money for a bill that can be traced to a notable shipwreck or outlaw."
– John Krupka, President, Professional Currency Dealers Association
5 of the Most Valuable $100 Bills Ever Sold
Now that we‘ve covered the basics of what makes a bill valuable, let‘s take a look at some of the most incredible $100 notes to ever cross the auction block.
These ultra-rarities represent the pinnacle of paper money collecting:
1. 1890 $100 Treasury Note – $1,092,500
Nicknamed the "Baby Watermelon" for its green and reddish tints, the 1890 $100 Treasury Note is one of the most iconic U.S. designs. This superb gem example graded About New 50 by PMG sold in an August 2018 Stack‘s Bowers Galleries auction for $1,092,500. That makes it one of only five banknotes to sell for over $1 million at public auction.
2. 1863 $100 Legal Tender – $862,500
The Series 1863 $100 Legal Tenders were the very first national currency notes in the denomination. Today only two are known to exist, and they are both forever ensconced in government collections. But in October 2005, a previously unknown specimen graded Very Fine 35 by PCGS unexpectedly surfaced and caused a sensation when it sold for $862,500.
3. 1869 $100 "Rainbow" Legal Tender – $517,000
The Series 1869 $100 United States Notes are popular for their colorful tinting, hence the "Rainbow" nickname. The very finest known $100 Rainbow, graded Gem New 65PPQ by PCGS, realized $517,000 in a January 2014 Heritage Auctions sale. That note traced its pedigree to the collection of noted Baltimore numismatist Louis E. Eliasberg, Sr.
4. 1934 $100 Federal Reserve Note Signed by Babe Ruth and Lou Gehrig – $125,000
In February 2020, Heritage Auctions sold a seemingly unassuming Series 1934 $100 FRN for an astonishing $125,000. The reason? The otherwise average note boasted the signatures of not one but two baseball legends: Babe Ruth and Lou Gehrig. Endorsed notes from celebrities command crazy premiums.
5. 1996 $100 Federal Reserve Note Missing Entire Back Printing – $57,500
At first glance this 1996 $100 looks like a blank piece of paper. That‘s because it is missing the entire reverse design due to a catastrophic printing error. Considered the "king" of BEP errors, notes missing fronts or backs usually only trade hands in private sales. But this note surfaced in a July 2019 Heritage Auctions event where it brought $57,500.
"When you‘re talking about these kinds of elite-level notes and errors, it‘s almost pointless to estimate a value. The sky‘s the limit for what a motivated collector will pay for the right piece."
– Jamie Franki, Vice President, Paper Money Guaranty (PMG)
Frequently Asked Questions About Collectible $100 Bills
We get a lot of questions about the value and collectibility of $100 bills. Here are quick answers to some of the most common:
What is the most common $100 bill?
The most frequently encountered $100 bill is the Series 2009A Federal Reserve Note. Over 13 billion of these notes have been printed since 2013, so they are extremely common in circulation. Even in perfect condition, a 2009A note only sells for a small premium over face value.
Are old $100 bills worth more?
As a general rule, the older a $100 bill is, the more likely it is to have collectible value. Bills from the late 19th and early 20th century are getting scarcer and more popular with collectors. Even a well-worn Series 1914 $100 FRN has a market value of about $200. Uncirculated examples can go for more than $1,000.
How can I tell if my $100 bill is valuable?
The best way to gauge your note‘s value is to have it evaluated by a professional currency dealer or third-party grading service like PMG or PCGS. They‘ll examine the note‘s condition, rarity, serial number and any other relevant factors. Most will provide this service for a small fee, which is well worth it for peace of mind.
Where can I sell my valuable $100 bill?
Once you‘ve had your note authenticated and graded, you have a few different options for selling it. Many collectors use online marketplaces like eBay. Others prefer to consign their notes to established auction firms like Heritage, Stack‘s Bowers or Lyn Knight. For a quicker and easier sale, you can also work with a trusted dealer or coin shop in your area.
"Don‘t get discouraged if your $100 bill turns out to be nothing special. The thrill of finding a ‘sleeper‘ is part of what makes this hobby so exciting. Every note has a story to tell if you‘re curious enough to listen."
– Fred Bart, Editor, Paper Money Values Magazine
The Bottom Line
Most people will go their whole lives without ever seeing a truly rare and valuable $100 bill. But now that you know what to look for, maybe you‘ll get lucky and find a diamond in the rough.
Remember, not every old or unusual bill is automatically worth a fortune. Collectible value ultimately depends on a combination of rarity, condition, serial number and other factors. When in doubt, always get your note checked out by an expert.
At the end of the day, collecting currency is about more than just the monetary value. It‘s a tangible way to hold history in your hands and marvel at the artistry and evolution of paper money.
Whether you‘ve got a stack of Benjamins or just one special bill, take a moment to appreciate them for the miniature works of art they are. After all, you never know what yours could be worth someday!
