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Its history is that it was printed by a novelty company. They cost a couple of dollars and are used as joke items, a lot like the "$3" bills that are printed by the same companies.

The US never printed a real million-dollar bill; the highest circulating denomination was $10,000 and the largest bills ever printed were special $100,000 gold certificates used for intra-governmental transactions.

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Q: What is the history of the 1923 1 million dollar silver certificate?
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If a picture of Woodrow Wilson was on the front of a million dollar silver certificate what was on the back?

There never was such a thing as a million dollar bill.

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The silver certificate and the gold certificate were replaced by the Federal Reserve Dollar.

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The oldest dollar bill is a 1935 Silver Certificate.

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What is the value of a 1928 US 1 million dollar silver certificate?

The U.S. has never issued a $1,000,000 bill, ever. Even if it did, it would have been a gold certificate, not silver. As such, it would receive very little value, since it is fake.

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Check that bill again. There was no $1 silver certificate dated 1931.

How rare is a 1935 1 dollar silver certificate?

Most of them aren't rare. There's more information at the question "What is the value of a 1935 US 1 dollar silver certificate?"

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