Deputies sent to elementary school over fake $1 million bill

DELTONA, Fla. - Volusia County deputies were sent to Timbercrest Elementary School Tuesday after a student was found holding what appeared to be a $1 million bill.

According to Central Florida News 13 , school officials said the money looked very real and they were worried that it could be in circulation. However, $1 million bills were never in print or circulation to begin with.

The bill was only a novelty item, and a parent provided News 13 with a similar bill.

Parent Lisa Malinowski told the station that the million dollar bills came from a monster truck bash near Deltona, and many kids received similar bills.

Malinkowski said she didn’t understand how school officials could fear that the money would be used for something other than a novelty item.

"It's got all kinds of words written on the back…it's not even close to being real. Whoever did that (confused it with real currency) did not take a good look at what they had in their hand," Malinowski said.

According to the Federal Reserve, the largest note ever printed by the Bureau of Engraving and Printing was the $100,000 gold certificate from 1934, and this was only issued to Federal Reserve Banks in exchange for equal amount of gold bullion.

The largest bills that ever made it into circulation were in denominations of $500, $1,000, $5,000, and $10,000. They were discontinued due to lack of use. These bills were issued until 1969, and they may be found in circulation, but most are likely in the hands of collectors.