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Why Is a $100,000 Bill on a Billboard in New York?

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Photo by Friends of the High Line, Courtesy of John Baldessari and Marian Goodman Gallery

There's a big $100,000 bill plastered on a billboard near the High Line in New York. This raises several questions, which we'll try to answer here.

Who plastered a big $100,000 bill on a billboard near the High Line in New York?

"The First $100,000 I Ever Made" is the work of John Baldessari. The 25'-by-75' billboard is next to the High Line at West 18th Street. According to Cecilia Alemani, Curator and Director of High Line Art, it's the first in a new series called High Line Billboard.

Was there ever really a $100,000 bill?

Yes — the Series 1934 $100,000 gold certificate. The Bureau of Engraving and Printing only made these notes during a three-week stretch during December 1934 and January 1935. Even the few plutocrats who had that much cash during the Depression couldn't carry one of the $100K bills, though. They were only used for official transactions between Federal Reserve Banks, and the Treasurer of the United States only issued them to Fed banks that had an equal amount of gold in the Treasury. The note featured a picture of Woodrow Wilson.

What other big bills has the U.S. issued?

high-denomination-currency

In 1928, the federal government overhauled its system of printing banknotes. It shaved about an inch of length and just under a half of an inch in width off of the bills and issued the new smaller bills in the $1 to $100 denominations with which we're familiar. However, the Treasury also issued larger denominations. They featured William McKinley ($500), Grover Cleveland ($1,000), James Madison ($5,000), and Salmon P. Chase ($10,000).

Who the heck was Salmon P. Chase?

chase-10000

His name might not be as familiar as those of the Presidents featured on the other big bills, but once upon a time Chase was a big wheel in American politics. Chase, a mid-19th century politician, served as Chief Justice of the United States, spent stints as Ohio's governor and senator, and was Lincoln's first Secretary of the Treasury.

Nice resume. But how did Chase end up on the $10,000 bill?

He was in the right place at the right time. When the federal government started issuing greenback notes in 1861, Chase, as Secretary of the Treasury, was in charge of designing and popularizing the new currency. The politically ambitious Chase had to pick a portrait subject for the first $1 bill, and he chose ... Salmon P. Chase.

Although putting his face in everyone's pocketbooks never propelled Chase to the presidency, when the Treasury started issuing the new $10,000 bills in 1928 they put Chase's portrait on the obverse to honor the man who helped introduce modern banknotes.

Even if you don't have a $10,000 bill Chase's name might still be in your wallet. Chase National Bank, the forerunner to Chase Manhattan Bank, was named in his honor.

Why on earth was the government printing such giant bills in the first place?

Believe it or not, it wasn't just to save space in fatcats' wallets. When the Treasury started printing these giant bills, their main purpose was making transfer payments between banks and other financial institutions. Before sophisticated wire transfer systems were fully developed, it was apparently easier and safer just to fork over a $5,000 bill to settle up with a fellow bank. Once transfer technology became safer and more secure, there really wasn't much need for the big bills anymore.

Are any of these bills left in circulation?

There are, but don't expect to find a $500 bill the next time you make an ATM withdrawal. The Treasury announced on July 14, 1969, that it would quit issuing the $500, $1,000, $5,000, and $10,000 notes immediately, since the bills were so sparsely circulated. It's not like the Bureau of Engraving and Printing had to stop the presses, either; the bills hadn't seen an actual print run since 1945.

When the Treasury discontinued the bills, they rapidly fell out of circulation. However, a few are still lingering; as of May 2009, there were still 336 $10,000 bills at large. At the same time, Slate reported that there were also 342 $5,000 bills and 165,732 $1,000 bills still floating around.

If they're out of circulation, can you still spend them?

Although the Treasury is no longer issuing these bills, according to the Fed they're still legal tender. So yes, although it would probably raise some eyebrows, you could walk into Best Buy and plunk down a $1,000 bill to pay for a new plasma TV.

That wouldn't be the smartest move, though. Most of the high-denomination bills that are left in circulation are in collectors' safes, and at auction the bills tend to fetch prices that far exceed their face values. For instance, a pristine $10,000 bill can command a price as high as $140,000 on the open market.

What happens if you bring one of these big bills to a bank?

If you put it in your safety deposit box, your bill will be safe. Chase Bank actually acquired one of the $10,000 bills in its currency collection when a deceased customer's family found the bill in her deposit box and traded it for $10,000 in cash. Deposit the historical loot into your checking account, though, and it's bad news for the bill. You'll get the cash deposited in your account, but since the 1969 order to stop distributing these bills, Fed banks have been pulling the notes from circulation and destroying them whenever they are received.

Of course, there are other potential pitfalls to depositing a big bill, like blowing your cover when you're on the lam. Last February, three teenagers in Texas Township, Michigan, swiped one of their parents' safes and drove to Birmingham, Alabama, with their booty. Their downfall came when they tried to change an antique $1,000 bill from the safe at a bank. The police nabbed the thieves after a call from a suspicious teller.

So there was never a real $1 million bill?

million-dollar-billNope, but that doesn't mean that people haven't tried to make one. In 2004, a woman in Covington, Georgia, tried to pick up a $1,675 tab at a local Wal-Mart with a forged $1 million bill featuring a picture of the Statue of Liberty. Police quickly arrested her. It's hard to say what's more ludicrous: trying to pass off a million-dollar bill or thinking that Wal-Mart would just fork over $998,325 in change.

Someone gave me a fake $1 million bill as a joke"¦was that illegal?

As long as you don't try to spend it or deposit it, you're in the clear. Gag makers and some religious and political groups have printed novelty $1 million bills for decades. In 1982, these novelty bills came to the attention of the Secret Service, which ruled that since there wasn't a real $1 million bill, these joke versions weren't technically forgeries or violations of any laws.

Where can I find out more about that billboard and the artist?

Try here.

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10 Surprising Facts About The Babadook
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IFC Films

In 2014, The Babadook came out of nowhere and scared audiences across the globe. Written and directed by Aussie Jennifer Kent, and based on her short film Monster, The Babadook is about a widow named Amelia (played by Kent’s drama schoolmate Essie Davis) who has trouble controlling her young son Samuel (Noah Wiseman), who thinks there’s a monster living in their house. Amelia reads Samuel a pop-up book, Mister Babadook, and Samuel manifests the creature into a real-life monster. The Babadook may be the villain, but the film explores the pitfalls of parenting and grief in an emotional way. 

“I never approached this as a straight horror film,” Kent told Complex. “I always was drawn to the idea of grief, and the suppression of that grief, and the question of, how would that affect a person? ... But at the core of it, it’s about the mother and child, and their relationship.”

Shot on a $2 million budget, the film grossed more than $10.3 million worldwide and gained an even wider audience via streaming networks. Instead of creating Babadook out of CGI, a team generated the images in-camera, inspired by the silent films of Georges Méliès and Lon Chaney. Here are 10 things you might not have known about The Babadook (dook, dook).

1. THE NAME “BABADOOK” WAS EASY FOR A CHILD TO INVENT.

Jennifer Kent told Complex that some people thought the creature’s name sounded “silly,” which she agreed with. “I wanted it to be like something a child could make up, like ‘jabberwocky’ or some other nonsensical name,” she explained. “I wanted to create a new myth that was just solely of this film and didn’t exist anywhere else.”

2. JENNIFER KENT WAS WORRIED PEOPLE WOULD JUDGE THE MOTHER.

Amelia isn’t the best mother in the world—but that’s the point. “I’m not a parent,” Kent told Rolling Stone, “but I’m surrounded by friends and family who are, and I see it from the outside … how parenting seems hard and never-ending.” She thought Amelia would receive “a lot of flak” for her flawed parenting, but the opposite happened. “I think it’s given a lot of women a sense of reassurance to see a real human being up there,” Kent said. “We don’t get to see characters like her that often.”

3. KENT AND ESSIE DAVIS TONED DOWN THE CONTENT FOR THE KID.

Noah Wiseman was six years old when he played Samuel. Kent and Davis made sure he wasn’t present for the more horrific scenes, like when Amelia tells Samuel she wishes he was the one who died, not her husband. “During the reverse shots, where Amelia was abusing Sam verbally, we had Essie yell at an adult stand-in on his knees,” Kent told Film Journal. “I didn’t want to destroy a childhood to make this film—that wouldn’t be fair.”

Kent explained a “kiddie version” of the plot to Wiseman. “I said, ‘Basically, Sam is trying to save his mother and it’s a film about the power of love.’”

4. THE FILM IS ALSO ABOUT “FACING OUR SHADOW SIDE.”

IFC Films

Kent told Film Journal that “The Babadook is a film about a woman waking up from a long, metaphorical sleep and finding that she has the power to protect herself and her son.” She noted that everybody has darkness to face. “Beyond genre and beyond being scary, that’s the most important thing in the film—facing our shadow side.”

5. THE FILM SCARED THE HELL OUT OF THE DIRECTOR OF THE EXORCIST.

In an interview with Uproxx, William Friedkin—director of The Exorcist—said The Babadook was one of the best and scariest horror films he’d ever seen. He especially liked the emotional aspect of the film. “It’s not only the simplicity of the filmmaking and the excellence of the acting not only by the two leads, but it’s the way the film works slowly but inevitably on your emotions,” he said.

6. AN ART DEPARTMENT ASSISTANT SCORED THE ROLE AS THE BABADOOK.

Tim Purcell worked in the film’s art department but then got talked into playing the titular character after he acted as the creature for some camera tests. “They realized they could save some money, and have me just be the Babadook, and hence I became the Babadook,” Purcell told New York Magazine. “In terms of direction, it was ‘be still a lot,’” he said.

7. THE MOVIE BOMBED IN ITS NATIVE AUSTRALIA.

Even though Kent shot the film in Adelaide, Australians didn’t flock to the theaters; it grossed just $258,000 in its native country. “Australians have this [built-in] aversion to seeing Australian films,” Kent told The Cut. “They hardly ever get excited about their own stuff. We only tend to love things once everyone else confirms they’re good … Australian creatives have always had to go overseas to get recognition. I hope one day we can make a film or work of art and Australians can think it’s good regardless of what the rest of the world thinks.”

8. YOU CAN OWN A MISTER BABADOOK BOOK (BUT IT WILL COST YOU). 

IFC Films

In 2015, Insight Editions published 6200 pop-up books of Mister Babadook. Kent worked with the film’s illustrator, Alexander Juhasz, who created the book for the movie. He and paper engineer Simon Arizpe brought the pages to life for the published version. All copies sold out but you can find some Kent-signed ones on eBay, going for as much as $500.

9. THE BABADOOK IS A GAY ICON.

It started at the end of 2016, when a Tumblr user started a jokey thread about how he thought the Babadook was gay. “It started picking up steam within a few weeks,” Ian, the Tumblr user, told New York Magazine, “because individuals who I presume are heterosexual kind of freaked out over the assertion that a horror movie villain would identify as queer—which I think was the actual humor of the post, as opposed to just the outright statement that the Babadook is gay.” In June, the Babadook became a symbol for Gay Pride month. Images of the character appeared everywhere at this year's Gay Pride Parade in Los Angeles.

10. DON'T HOLD YOUR BREATH FOR A SEQUEL.

Kent, who owns the rights to The Babadook, told IGN that, despite the original film's popularity, she's not planning on making any sequels. “The reason for that is I will never allow any sequel to be made, because it’s not that kind of film,” she said. “I don’t care how much I’m offered, it’s just not going to happen.”

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Space
NASA Is Posting Hundreds of Retro Flight Research Videos on YouTube
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Bruce Weaver / Stringer / Getty Images

If you’re interested in taking a tour through NASA history, head over to the YouTube page of the Armstrong Flight Research Center, located at Edwards Air Force Base, in southern California. According to Motherboard, the agency is in the middle of posting hundreds of rare aircraft videos dating back to the 1940s.

In an effort to open more of its archives to the public, NASA plans to upload 500 historic films to YouTube over the next few months. More than 300 videos have been published so far, and they range from footage of a D-558 Skystreak jet being assembled in 1947 to a clip of the first test flight of an inflatable-winged plane in 2001. Other highlights include the Space Shuttle Endeavour's final flight over Los Angeles and a controlled crash of a Boeing 720 jet.

The research footage was available to the public prior to the mass upload, but viewers had to go through the Dryden Aircraft Movie Collection on the research center’s website to see them. The current catalogue on YouTube is much easier to browse through, with clear playlist categories like supersonic aircraft and unmanned aerial vehicles. You can get a taste of what to expect from the page in the sample videos below.

[h/t Motherboard]

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