Seventeen PMG-certified Notes Realize Over $100,000 Each in Heritage Sale
Posted on 1/17/2023
A stunning 17 notes that are certified by Paper Money Guaranty® (PMG®) each realized prices over $100,000 in a recent Heritage Auctions sale. The FUN Currency Signature Auction #3591 was held January 11-13, 2023.
The top price realized in the auction was $360,000, which was achieved by a seldom-seen 1880 $1,000 Legal Tender graded PMG 35 Choice Very Fine (lot 21469). The high-denomination note features the portrait of New York Governor DeWitt Clinton and a vignette of "Columbus in His Study." There are only 14 known serial numbers of this Friedberg number, according to the auction house. Out of eight examples in the PMG Population Report, this particular note is tied for the highest-graded among the group.
Meanwhile, an 1890 $100 Treasury Note graded PMG 30 Very Fine (lot 21529) sold for an impressive $336,000. This scarce "Watermelon Note" was issued in honor of Union Admiral David Farragut, whose portrait is featured on the obverse.
The third note to realize over $300,000 in the Heritage sale was an 1878 $10 Silver Certificate (New York) graded PMG 30 Very Fine (lot 21496) that sold for $312,000. This is one of only four reported examples that feature the extremely rare triple signature, including J.C. Hopper's countersignature, according to the auction house.
The auction also offered a rare 1878 $500 Legal Tender graded PMG 25 Very Fine (lot 21468), which realized $240,000. PMG has only certified two of these scarce notes that feature the portrait of Union Major General Joseph K. Mansfield.
Also in the spotlight was an example of some of the earlier US paper money available to collectors. An 1863 $100 Legal Tender graded PMG 53 About Uncirculated (lot 21460) realized $204,000. There are only 23 known serial numbers of this catalog number known to exist today, according to the auction house, including five in museum collections.
A high-denomination note rounded out the six that realized over $200,000 in this auction. The 1934 $5,000 Federal Reserve Note (St. Louis) graded PMG 53 About Uncirculated (lot 21606) realized $204,000. Featuring a portrait of the fourth US President, James Madison, these denominations of Small Size Federal Reserve Notes (the same used today in US currency) generally share the spotlight in whatever auction they are part of. They were issued only in the 1928 and 1934 series before being discontinued.
|1934 $5,000 Federal Reserve Note (St. Louis) graded PMG 53 About Uncirculated.Click images to enlarge.|
- a First National Gold Bank, San Francisco 1870 $50 graded PMG 10 Very Good (lot 20272) that realized $192,000
- an 1882 $1,000 Gold Certificate graded PMG 25 Very Fine (lot 21563) that realized $180,000
- an 1891 $100 Treasury Note graded PMG 25 Very Fine (lot 21530) that realized $168,000
- a Walla Walla, Territory of Washington 1875 $5 National Bank Note graded PMG 30 Very Fine EPQ (lot 20978) that realized $168,000
- a First National Bank, Philadelphia 1875 $100 graded PMG 35 Choice Very Fine (lot 20755) that realized $144,000
- a San Juan, Island of Porto Rico 1902 $10 National Bank Note graded PMG 12 Fine (lot 20805) that realized $144,000
- a First National Gold Bank, San Francisco 1870 $100 graded PMG 12 Fine (lot 20273) that realized $132,000
- a 1928 $1,000 Gold Certificate graded PMG 63 Choice Uncirculated EPQ (lot 21617) that realized $132,000
- an 1869 $50 Legal Tender graded PMG 35 Choice Very Fine (lot 21452) that realized $117,000
- a 1928 $500 Gold Certificate graded PMG 64 Choice Uncirculated EPQ (lot 21614) that realized $114,000
- an 1891 $50 Treasury Note graded PMG 20 Very Fine (lot 21528) that realized $108,000
Prices realized include buyer's premium.
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