Record Number of $50 Bills Printed in 2022

According to Yahoo News, the U.S. Bureau of Engraving and Printing produced a record-breaking 756 million $50 bills in 2022, the highest nominal value printed in over 40 years, totaling approximately $37.8 billion. In comparison, only 3.5% of U.S. banknotes were $50 in 2019, compared to 8.5% in 2022. The increase in $50 bills is attributed to the U.S. Federal Reserve Service finding that people have started saving more money and prefer to save larger bills. During the pandemic, Americans began carrying more cash, leading the Fed to increase the rate of $50 bills printed. Prior to the pandemic, the $50 bill was one of the rarest bills ordered, with the exception of the $2 bill. However, in 2021 and 2022, the Fed ordered more $50 bills than $10 and $5 bills. Data reported by CNN shows that Americans use less cash for daily purchases and hold more cash than pre-pandemic levels. The Federal Reserve's 2024 order plans to print a range of roughly 99 to 211 million $50 bills, which is less than a third of what was printed in 2022. A report from the San Francisco Fed suggests that American households still have high levels of cash holdings compared to pre-pandemic times. Some people avoid handling $50 bills due to superstitions about bad luck, which are often derived from cultural and historical factors rather than concrete evidence. The 18th U.S. president, Ulysses S. Grant, is featured on the bill, and some people associate him with bad luck and disappointment, believing that has cursed the bill. However, Grant was a respected military general and played a significant role in the post-Civil War era during his presidency.