Former U.S. President William McKinley is featured on the $500 bill. The U.S. Bureau of Engraving and Printing stopped printing the $500 bill in 1945 and discontinued issuing the banknote in 1969. As of 2014, the $500 bill is still legal tender, but is worth several times its face value.
The federal government redesigned the banknotes of the United States in 1928, making them physically smaller. During this currency redesign, the government also issued large denomination bills, such as the McKinley $500 bill. Other large-denomination notes included the $1,000 bill, the $5,000 bill and the $10,000 bill. They printed and issued these banknotes to make transfers between banks and other financial institutions easier.