According to this release, as of April 2012, the money supply measure M1 (currency + check-like thingies) consisted of $1707.9 billion, of which $1036.9 billion was actual circulating currency (not in vaults). So, yes. There is roughly $1 trillion USD currency circulating.
If you include savings-account-like thingies, M2, there is $9842.2 billion in money.
According to this release, as of April 2012, the money supply measure M1 (currency + check-like thingies) consisted of $1707.9 billion, of which $1036.9 billion was actual circulating currency (not in vaults). So, yes. There is roughly $1 trillion USD currency circulating.
If you include savings-account-like thingies, M2, there is $9842.2 billion in money.