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$1000 Federal Reserve Note

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As it says right on the note, "The United States Of America Will Pay To The Bearer On Demand One Thousand Dollars". But what is it redeemable in? "Lawful Money".

It says so right on the note: "This Note Is Legal Tender For All Debts Public And Private And Is Redeemable In Lawful Money At The United States Treasury Or At Any Federal Reserve Bank".

In 1934, Gold was no longer "lawful money". In fact, this note was "redeemable" in another note just like it, or 10 "$100s", or 50 "$20s", or 1000 "$1s" - you get the picture.