It is my understanding that the usage of the word denomination is basically defined as:

a value or size of a series of values or sizes (as of money) or a name, designation; especially: a general name for a category

So with this in mind the phrase of :

Quote:

Participants can register a dollar bill, of any denomination, and monitor its geographic circulation.



Is correct for it is specifically stating that the amount, or denomination, can be anything with in a dollar format, as opposed to say coin, check or cash format.

Just my opinion

Rev. Alimae