Q:

Is there a Canadian $1,000 bill?

A:

Quick Answer

There are Canadian $1,000 bills. Although Canada stopped producing this bill in May 2000, it remains legal and in circulation as of 2012. However, banks are required to eradicate any such bills deposited with them.

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Full Answer

Canada stopped producing the $1,000 bills due to concerns they were being overused in criminal transactions. As of 2012, a little less than $1 billion of the bills were still somewhere in the market, and experts believe criminals continue to be their main users. The Bank of Canada tracks these outstanding bills on its books as a liability. The bills are pink and are convenient for transporting large amounts of cash.

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