The US is kind of funny, we've (as far as i know) never withdrawn backing for a bill. If you have a silver certificate, you can spend it on a pack of gum. If you have a $1000 bill, you can deposit it in the bank.

You might have some hassle getting the bank to believe you, of course, those bills are probably in pretty poor shape. But you should be able to exchange them for new currency. Although, it might be worth more to sell to a collector. there aren't that many around.

I think a private enterprises in the U.S. can refuse money, so your bank can refuse that 1000$ bill at their discretion (and pissing you off as a customer in the process).

However, the government probably is required to take that money to pay nay taxes, although I do not know how you can pay any taxes to the federal U.S. by cash. Maybe a customs duty at a border crossing?

And India doing it in 1978 (http://www.thehindubusinessline.com/money-and-banking/highva...)

The difference is in the sheer volume of currency being taken out of / replaced from circulation almost 80% of the value.

https://twitter.com/d_jaishankar/status/796012168873320448

>replaced from circulation almost 80% of the value.

Not only replacing 80% of the value, but also added 220 Million bank accounts in a span of 15 months. 2/3 of the US population.

https://www.reddit.com/r/worldnews/comments/5btovy/indian_ru...