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No, there is no official million-dollar bill in circulation, nor has one ever been commissioned by the Federal Reserve. While some novelty items or bills may feature a picture of a million-dollar bill, they hold no value and cannot be used as legal tender.
The story takes place in Victorian London, where two very rich, eccentric brothers give the penniless story protagonist, Henry Adams, one million pounds of money in the form of a single peerless bank note.
In Mark Twains The 1,000,000 Bank-Note, one instance of satire that can be identified is the portrayal of social status and wealth. Twain humorously highlights how peoples perceptions of worth and character are often based on outward appearances and the amount of money they possess.
Portia reveals, with a good sense of humor, that she knew what was going on the entire time because Brother B is actually her beloved stepfather. Henry and Portia marry. The brothers take the banknote to the bank to get it cashed in and voided. The framed banknote is given to the happy couple as a wedding gift.
The theme of The Million Pound Bank Note by Mark Twain is the influence of wealth on human behavior and social status. The story explores how possessing a large sum of money can alter ones social standing and the perceptions of others, as well as the personal impact on ones behavior and life choices.

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Strictly speaking there are no bank notes to the value of 1,000,000, however, as part of the Marshall Plan, where the US helped prop up the UK economy, there were 9 1,000,000 treasury notes issued by the Bank of England, although these were never in circulation.
Bank of England 1,000,000 notes, also referred to as Giants, are non-circulating Bank of England sterling banknotes that were used to back the value of Scottish and Northern Irish banknotes in 1948. They were cancelled after six weeks, and only two are known to still exist.
The plot is based on a bet between two brothers (Ronald Squire and Wilfrid Hyde White) that a man with a million pound bank note in his possession could live on the of the land for a month without having to break into it. The guinea pig for their wager is Gregory Peck, a penniless American stranded in London.

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