What Is a C-Note?

C-note is a slang term for the $100 banknote in U.S. currency. The C in C-note refers to the Roman numeral for 100, which was printed on $100 bills at one time. The term came to prominence in the 1920s and 1930s, and it was popularized in a number of gangster films.

Understanding C-Notes

C-note is used less frequently in contemporary slang than it once was. It has been replaced by the term "Benjamin." This latter term comes from the name of Benjamin Franklin, one of the founding fathers of the U.S., whose portrait is on the front of the $100 bill. Other slang terms for a $100 bill are "Franklins" and "Bens."

The Evolution of C-Note

The $100 bill featured a capital C in its upper-left corner from 1869 to 1914, denoting the Roman numeral for 100. In 1914, the U.S. government introduced 澳洲幸运5官方开奖结果体彩网:Federal Reserve notes to replace older 澳洲幸运5官方开奖结果体彩网:Treasury notes. The letter C no longer appeared as it once had.

This actual printed letter C, rather than knowledge of the letter's meaning of 100, may be the source for the term "C-note." It may also support why the term gained prominent use in the 1920s and 1930s. This wasn't long after the U.S. Bureau of Engraving and Printing stopped issuing $100 banknotes with the letter C, which people had been accustomed to seeing for many decades.

The 1878 and 1880 editions of the C-note featured a portrait of Abraham Lincoln on the left. The 1890 version featured Admiral David Farragut to the right. On the back of the Farragut banknotes were two zeros that looked like watermelons. Hence, the nickname "watermelon notes."

Contemporary $100 Bills

Contemporary $100 bills ℱshow an enlarged portrait of Franklin on the front and a 100 in each corner.

The 100 in the bottom right corner changes color depending on the angle of light. A blue 3-D motion strip runs down the middle, an effort to prevent 澳洲幸运5官方开奖结果体彩网:counterfeiting. A watermarked portrait of Franklin appears on the right side when the banknote is held up to the light.

The $100 bill has been the largest printed denomination since 1969. Larger bills, such as the $500, $1,000, $5,000, and $10,000 bills 澳洲幸运5官方开奖结果体彩网:were previously retired.

Special Considerations

The estimated lifespan of a $100 bill is around 22.9 years—if it stays in circulation for that long. The average lifespan of a $1 bill, in contrast, is just 6.6 years. It's estimated that roughly two-thirds of $100 bills in circulation circulate outside the U.S.

There were around 18.5 billion $100 bills in circulation in 2022, valued at about $1.84 trillion. By contrast, around 14.3 billion $1 bills were in circulation.

The number of C-notes in circulation has doubled since the 2007-2008 financial crisis. It's said that the rise in the use of $100 bills is a result of the rising mistrust of the financial system, with more individuals choosing to keep their assets outside the system.

The 澳洲幸运5官方开奖结果体彩网:Federal Reserve System distributes $100 bills as the demand for this value of currency changes. Demand peaks around the winter holidays and Lunar, or Chinese, New Year because crisp C-notes serve as good gifts inside of greeting꧒ cards.

When the redesigned $100 bills came out in 2013, 28 reserve bank cash offices stockpiled 3.5 billion of them. Those bills went to some 9,000 banks as the revamped C-notes entered circulation for the first time.

The Bottom Line

C-note is a term that still refers to the $100 bill. It may derive from the letter C printed on the $100 banknote from 1869 to 1914. The letter C is the Roman numeral for the number 100. C-note i🔴s no longer used as prevalently as it once was.