Banknotes, or paper money, in America can take the form of several different
denominations – $1, $5, $10, $20, etc.. These denominations are assigned value through the
U.S. central bank and grant a certain amount of buying power.
These denominations are far from universal; they can change from country to country.
Often the buying power of a country’s paper money is tied to a specific standard – like gold or
copper. Many countries have set records by printing banknotes, that have been considered the
largest in the world. These records were tied to the buying power given to each banknote, not
the quality or size of the paper itself. Although it might seem strange to carry such large
denominations of cash, many countries print large banknotes for display or novelty.

• From 1967 – 1976 Singapore released an S$10,000 banknote (Approximately $7,300
  USD)

Image source: Leftover Currency

• In 1988, the Philippines released a 100,000 peso banknote in order to celebrate a century free from the Spanish rule. (Approximately $3,700 USD)

Image source: Time Magazine

• In 1907 the Swiss National Bank released a 1000 franc banknote that has been in and out of circulation ever since (Approximately $1005 USD)

Image Source: Nomad Capitalist

• In 2002 a €500 euro was introduced into circulation. Although no longer in print it is still accepted as currency. (Approximately $571 USD)

Image source: Wikipedia

These are just a few of the largest banknotes in the world. Find more information on the origins of paper money here.