The 1918 Five Hundred dollar bill is rare type note. The amount of money this represented in 1918 was immense and as a result not many survived. Most were redeemed when the currency size changed. There are fewer than 200 of these notes in collectors hands so if you have one it's meaningful. The value of an 1918 $500 dollar bill is based on the district, condition and other factors. A average 1918 $500 dollar bill will sell for between 7500 and 20000. Send me images of yours for a valuation. New York, Chicago and San Francisco are the three most common districts. As of this writing Richmond, VA is the rarest.