Large-denomination Notes Graded by PMG Realize Six Figures Each in Stack's Bowers Auction
Posted on 11/20/2023
Three high-denomination notes certified by Paper Money Guaranty® (PMG®) took the top spots in a Stack's Bowers auction of US currency that was held November 17, 2023. In all, nine of the top 10 lots in the sale were PMG-certified.
The top lot in the auction was an 1882 $1,000 Gold Certificate graded PMG 25 Very Fine (lot 20236), which realized $204,000. Only five examples of this catalog number are listed in the PMG Population Report, and a total of a mere 11 examples are known to exist, according to the auction house.
Meanwhile, a 1934 $10,000 Federal Reserve Note (Philadelphia) graded PMG 45 Choice Extremely Fine (lot 20294) realized $180,000. The note is pedigreed to Johnny Chan, a professional poker player who has won 10 World Series of Poker bracelets, the most recent in 2005. Only three examples of this catalog number appear in the PMG Population Report.
Also realizing $180,000 was a 1934 $5,000 Federal Reserve Note (Chicago) graded PMG 45 Choice Extremely Fine (lot 20293). PMG has certified just 42 examples of the 1934 Series $5,000 denomination from the Chicago Federal Reserve District, and only 124 $5,000 Small-Size Federal Reserve Notes in all. The Small-Size $5,000 and $10,000 Federal Reserve Notes are major trophies for advanced collectors and tend to share the spotlight in whatever auction they appear in.
Other PMG-certified notes in this auction included:
- a 1775 Continental Currency $20 graded PMG 58 Choice About Uncirculated EPQ★ (lot 20008), which realized $156,000
- a 1918 $500 Federal Reserve Note (San Francisco) graded PMG 64 Choice Uncirculated (lot 20209), which realized $150,000
- a Carmen, Oklahoma 1902 Red Seal $10 National Bank Note graded PMG 50 About Uncirculated (lot 20340), which realized $57,600
- a Pennsylvania Colonial Note 1739 20 Shillings graded PMG 35 Choice Very Fine (lot 20006), which realized $55,200
- an 1880 $100 Silver Certificate pedigreed to the Mike Coltrane Collection graded PMG 30 Very Fine (lot 20178), which realized $51,600
- a group of five 1934 $1,000 Federal Reserve Notes (Boston) with consecutive serial numbers graded PMG Choice Uncirculated 63 EPQ to PMG 64 Choice Uncirculated EPQ (lot 20285), which realized $51,600
- a group of four 1934 $1,000 Federal Reserve Notes (Boston) with consecutive serial numbers graded PMG 63 Choice Uncirculated EPQ to PMG 64 Choice Uncirculated EPQ (lot 20286), which realized $51,600
- a 1918 $500 Federal Reserve Note (Kansas City) graded PMG 30 Very Fine (lot 20208), which realized $36,000
Prices realized include buyer's premium.
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