Strange New Cash Policy at Michigan Walmart and Target Stores

Beginning December 1st, all Walmart and Target locations in Michigan will no longer accept specific denominations of U.S. currency.

Back in July Target announced they would no longer accept personal checks as payment.  Fun fact, I had no idea people still used checks for shopping.  I digress.  Now Target, along with Walmart are no longer accepting certain high denomination bills according to us.as.com,

While $500, $1,000, and $10,000 bills are no longer produced, they remain in circulation. However, these high-denomination notes can be rejected if they meet the “mutilated” criteria, just like any other bill.

Wait, what?  Am I the only one who didn't know that $500, $1,000, and $10,000 bills were a thing?  It turns out, we even had $100,000 bills back in the day.  However, the United States Department of the Treasury hasn't issued those large bills in the last 55 years according to 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.

High denomination bills the U.S. Department of the Treasury printed in the early 1900s.

$500

There were two $500 bills printed.  The first one was printed in 1918 and featured the face of John Marshall with a blue seal. The other was printed in 1928 & 1934 with William McKinley's portrait and a green seal as seen below.

$1,000

The U.S. had two $1,000 bills printed.  The blue seal bill was printed in 1918 featuring the face of Alexander Hamilton as seen below.  The green seal bill was printed in 1928 with Glover Cleveland's face on the front.

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$5,000

James Madison was the face of the $5,000 printed in 1918.

$10,000

The U.S. printed two $10,000 bill series.  The first (seen below) was printed in 1918 featuring the face of Salmon P. Chase and a blue seal.  The second bill with a green seal also had the face of Salmon P Chase and was printed in 1928 and 1934.

$100,000

The $100,000 bill was printed in 1934 with Woodrow Wilson's face on the front.  This bill was not in regular circulation and was for Federal Reserve Banks only.

Target and Walmart are not alone in this possibly unnecessary policy.  Many other supermarkets, banks, and ATMs will also stop accepting these large bills in December.