Federal Reserve data show 19.9 billion US $100 bills in circulation at the end of 2025, versus 15.2 billion $1 bills.
There are more US $100 bills in circulation than $1 bills. At the end of 2025, the Federal Reserve counted 19.9 billion $100 notes in circulation and 15.2 billion $1 notes.
The numbers
The Fed's table counts every note in circulation, in billions, as of December 31 each year. For 2025:
- $100: 19.9 billion notes, the most of any denomination.
- $1: 15.2 billion.
- $20: 11.0 billion.
- All notes: 56.6 billion.
That means about 35% of all US notes in circulation are $100s (our math: 19.9 divided by 56.6).
How it flipped
Twenty years ago, the $1 was far ahead:
- 2005: 8.8 billion $1 notes, 5.4 billion $100s.
- 2016: 11.7 billion $1s, 11.5 billion $100s. Still a $1 lead, barely.
- 2017: 12.5 billion $100s, 12.1 billion $1s. The $100 pulls ahead.
- 2025: 19.9 billion $100s, 15.2 billion $1s.
From 2005 to 2025, the number of $100 notes grew about 3.7 times, while $1 notes grew about 1.7 times (our math from the Fed table).
Why $100s pile up
The Fed's answer is in how people use them. On its page about note lifespans, it says "larger denominations such as $100 notes are often used as a store of value, which means they pass between users less frequently than lower-denominations such as $5 notes, which are more often used for transactions."
That shows up in how long notes last. The Fed estimates, as of May 2025:
- $100 note: 24.0 years on average.
- $1 note: 7.2 years.
- $5 note: 5.8 years, the shortest of any denomination.
The limits
- The count is notes in circulation, not notes in daily use. The Fed's table does not say where the notes are held or how often they change hands.
- The Fed says its lifespan figures are estimates of average life, and that it updated its method in 2025. Actual life varies with how a note is used.
- This is US currency only.
Sources
- Board of Governors of the Federal Reserve System, Currency in Circulation: Volume. federalreserve.gov
- Board of Governors of the Federal Reserve System, How long is the lifespan of U.S. paper money? federalreserve.gov
