Cops: Man tried to use $1M bill at NC Walmart

Cops: Man tried to use $1M bill at NC Walmart

Cops: Man tried to use $1M bill at NC Walmart

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by The Associated Press and azfamily.com

azfamily.com

Posted on January 3, 2012 at 7:43 AM

Updated Tuesday, Jan 3 at 7:44 AM

LEXINGTON, N.C. (AP) -- Do you have change for a million-dollar bill?

Police say a North Carolina man insisted his million-dollar note was real when he was buying $476 worth of items at a Walmart.

Investigators told the Winston-Salem Journal that 53-year-old Michael Fuller tried to buy a vacuum cleaner, a microwave oven and other items. Store employees called police after his insistence that the bill was legit, and Fuller was arrested.

The largest bill in circulation is $100. The government stopped making bills of up to $10,000 in 1969.

Fuller was charged with attempting to obtain property by false pretense and uttering a forged instrument. He is in jail on a $17,500 bond, and it isn't clear if he has an attorney. He is scheduled to be in court Tuesday.

Currency facts from the U.S. Bureau of Engraving and Printing

United States currency denominations above $100 are not available from the Department of the Treasury, the Federal Reserve System, or the Bureau of Engraving and Printing. On July 14, 1969, the Department of the Treasury and the Federal Reserve System announced that currency notes in denominations of $500, $1,000, $5,000, and $10,000 would be discontinued immediately due to lack of use. Although they were issued until 1969, they were last printed in 1945.

These notes are legal tender and may be found in circulation today; however, most notes still in circulation are probably in the hands of private numismatic dealers and collectors. If you are interested in purchasing or learning more about these larger denominations, more resources may be available online or at your local library.

The largest note ever printed by the Bureau of Engraving and Printing was the $100,000 Gold Certificate, Series 1934. These notes were printed from December 18, 1934 through January 9, 1935 and were issued by the Treasurer of the United States to Federal Reserve Banks (FRB) only against an equal amount of gold bullion held by the Treasury. These notes were used for transactions between FRBs and were not circulated among the general public.

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