United States one-hundred-dollar bill
The United States one-hundred-dollar bill ($100) is a denomination of United States currency. The first United States Note with this value was issued in 1862 and the Federal Reserve Note version was launched in 1914, alongside other denominations. Statesman, inventor, diplomat, and American founding father Benjamin Franklin has been featured on the obverse of the bill since 1914. On the reverse of the banknote is an image of Independence Hall in Philadelphia, which has been used since 1928. The bill is the largest denomination that has been printed and circulated since  July 13, 1969, when the denominations of , , , and were retired. As of December 2018, the average life of a bill in circulation is 22.9 years before it is replaced due to wear. The bills are also commonly referred to as "Bens", "Benjamins", or "Franklins", in reference to the use of Benjamin Franklin's portrait by the French painter Joseph Duplessis on the denomination, as "C-Notes", based on the Roman numeral for 100, or as "blue faces", based on the blue tint of Benjamin Franklin's face in the bill's current design. The bill is one of two denominations  printed today that does not feature a president of the United States; the other is the $10 bill, featuring Alexander Hamilton. It is also the only denomination today to feature a building not located in Washington, D.C., that being Independence Hall located in Philadelphia on the reverse. The time on the clock of Independence Hall on the reverse, according to the U.S. Bureau of Engraving and Printing, showed approximately 4:10. It has been suggested this may refer to 4/10, or April 10, the 100th day of the year. The newer colorized notes show 10:30. The "Series 2009" bill redesign  was unveiled on April 21, 2010, and was issued to the public on October 8, 2013. The new bill costs 12.6 cents to produce and has a blue ribbon woven into the center of the currency with "100" and Liberty Bells, alternating, that appear when the bill is tilted. As of June 30, 2012, the bill comprised 77% of all US currency in circulation. Federal Reserve data from 2017 showed that the number of bills exceeded the number of bills. However, a 2018 research paper by the Federal Reserve Bank of Chicago estimated that 80 percent of bills were in  other countries. Possible reasons included economic instability that affected other currencies, and use of the bills for criminal activities. History. Large size notes. "( 7.4218 × 3.125 in ≅ 189 × 79 mm)" Small size notes. "(6.14 × 2.61 in ≅ 157 × 66 mm)" Removal of large denomination bills ($500 and up). The Federal Reserve announced the removal of large denominations of United States currency from circulation on July 14, 1969. While larger denominations remained legal tender, with their removal the one-hundred-dollar bill was the largest denomination left in circulation. All the Federal Reserve Notes produced from  Series 1928 up to before "Series 1969" (i.e. 1928, 1928A, 1934, 1934A, 1934B, 1934C, 1934D, 1950, 1950A, 1950B, 1950C, 1950D, 1950E, 1963, 1966, 1966A) of the denomination added up to billion. Since some banknotes had been destroyed, and the population was 200 million at the time, there was less than one banknote per capita circulating. As of June 30, 1969, the U.S. coins and banknotes in circulation of all denominations were worth of which was circulating overseas. So the currency and coin circulating within the United States was per capita. Since 1969, the demand for U.S. currency has greatly increased . The total amount of circulating currency and coin passed one trillion dollars in March 2011. Despite the degradation in the value of the U.S. banknote (which was worth about $ in 1969), and despite competition from some more valuable foreign notes (most notably, the 500 euro banknote), there are no plans to re-issue banknotes above . The widespread use of electronic means to conduct high-value transactions today has made large-scale physical cash transactions obsolete and therefore, from the government's point of view, unnecessary for the conduct of legitimate business. Quoting T. Allison, Assistant to the Board of  the Federal Reserve System in his October 8, 1998 testimony before the U.S. House of Representatives, Subcommittee on Domestic and International Monetary Policy, Committee on Banking and Financial Services: