Million dollar bill by American Bank Note Company
This is a special page prepared to handle the frequent inquiries I receive from people who ask how they can redeem their $1,000,000 bills printed by the American Bank Note Company. Here is a picture of that note.
No doubt about it, this is a great-looking, professionally engraved and printed note. It ought to be; it was designed and printed by the American Bank Note Company, the preeminent printer of paper money since its founding in 1858.
The note was printed for an organization called the International Association of Millionaires (IAM). When initially released in 1988, IAM sold these notes for around $25 each. At that time, the notes were accompanied by a certificate of authenticity and a full-color explanatory brochure.
The International Association of Millionaires still exists. As of October, 2022, IAM offered uncirculated examples of million dollar notes for about $110 apiece, with discounts for quantity purchases. 825,000 notes were printed and sold out to collectors, investors and dealers. IAM is currently selling a limited supply from a single private source that procured quantities from the original offering.
People frequently write and ask how these notes can be "redeemed." The short answer is:
THESE NOTES ARE NOT REDEEMABLE, PERIOD.
THEY ARE NOT, NOR HAVE THEY EVER BEEN, LEGAL CURRENCY.
In fact, there are notices on both the fronts and backs of IAM Million Dollar Bills that specifically state that the notes are not real money.
This notice can be found on the front, directly above the 'seal' of the IAM organization. It says:
This certificate of wealth is not a representation or facsimile
of any past or present U.S. financial obligation.
Another notice can be found on the back, in bold block lettering that says:
This certificate is backed and secured only
by confidence in the American dream.
Approximately 4,000 people come to this page each year, generally with one of these questions.
- Can I redeem this note for a million dollars? — No. Absolutely not! These notes were printed and sold as souvenirs. They have absolutely no value as currency.
- How much can I sell this note for? — I cannot say exactly, but suggest you search on eBay for "million dollar bills." That will indicate possible resale value.
- I have one of these notes; where can I sell? — Again, I suggest looking on eBay for guidance. There are also a handful of dealers in the paper money hobby that sell these notes. You might ask one of them if they are interested in buying yours.
- What about all the other "million dollar notes" out there? Are any of them valuable? — Some of them are fairly good quality and might have some collectible value. Remember, however, that collectible value is in the eye of the beholder. Considering that some million dollar notes can be acquired for pennies apiece, they can be collected very cheaply. Selling them at a profit sometime later, however, seems likely to be challenging.
- I want to learn more about American Bank Note Company. — Great! I have a special page dedicated to ABNCo and all its predecessor companies.
I hope this informational page has answered all your questions about this $1,000,000 fantasy note.
If there are questions I have not answered clearly, feel free to write. If pertinent, I might add additional commentary on this page for other visitors to see. However, please understand that this website is dedicated to collectible stocks and bonds. I do NOT have time to answer inquiries about million dollar notes. Souvenirs are not my specialty.