Maybe because in Roman numerals C is 100. Then again, maybe not.
The Roman reference is correct but the slang came from an actual 'C' printed on the upper left hand corner of circa 1900's treasury bills. I actually have one of these collectible $100 Bills, but sadly it is a reproduction.
Why'd they put the C on it? Or did it have something to do with century?
They put on the 'C' to represent the Roman numeral for 100 just as you suspected. The $1,000 had an 'M' on it but I think it was in a different spot.
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