Stack’s Bowers Offers PMG-certified $5,000 Federal Reserve Note Expected to Sell for Six Figures

A high-denomination rarity is among more than 600 US banknotes certified by Paper Money Guaranty® (PMG®) that are available in a pair of Stack’s Bowers Galleries auction sessions. Bidding is already underway for the Spring 2024 Auction, which includes Session 6 - U.S. Currency Part 1 on March 27 and Session 10 - U.S. Currency Part 2 on March 28, 2024.

The top PMG-certified lot in the two sessions is a 1934 $5,000 Federal Reserve Note (Chicago) graded PMG 35 Choice Very Fine (Part 2, lot 21376) with an estimate of $125,000 to $175,000. One of the rarest notes ever issued in the United States, this $5,000 denomination is highly sought-after by serious collectors along with its $10,000 counterpart. The front features the portrait of James Madison, Founding Father and the fourth president of the United States, who is recognized as the "Father of the Constitution." There are only 42 examples of this catalog number in the PMG Population Report, which together comprise about a third of the 125 total examples of $5,000 Small Size Federal Reserve Notes listed there.

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PMG-certified banknotes from Part 1 include:

• an Ashland, Wisconsin 1882 $5 National Bank Note with Serial Number 1 graded PMG 40 Extremely Fine (lot 20428), with an estimate of $20,000 to $30,000
• a Sylvania, Georgia 1902 $20 National Bank Note graded PMG 25 Very Fine (lot 20253), with an estimate of $10,000 to $15,000
• a Paris, Illinois 1875 $20 National Bank Note graded PMG 58 Choice About Uncirculated EPQ (lot 20260), with an estimate of $8,000 to $12,000
• an Ohio, Kirtland 1837 $1 "Anti-Banking Note" graded PMG 35 Choice Very Fine (lot 20131), with an estimate of $7,000 to $10,000
• a Tallahassee, Florida 1829-31 $2 graded PMG 63 Choice Uncirculated (lot 20031), with an estimate of $5,000 to $10,000

Other PMG-certified banknotes from Part 2 include:

• an 1862 $50 Legal Tender graded PMG 30 Very Fine NET (lot 21084), with an estimate of $60,000 to $80,000
• an 1891 $50 Silver Certificate graded PMG 66 Gem Uncirculated EPQ (lot 21174), with an estimate of $60,000 to $80,000
• an 1880 $50 Silver Certificate graded PMG 30 Very Fine (lot 21173), with an estimate of $50,000 to $75,000
• an 1890 $20 Treasury Note graded PMG 65 Gem Uncirculated EPQ (lot 21182), with an estimate of $50,000 to $75,000
• an 1862 $10 Legal Tender graded PMG 64 Choice Uncirculated EPQ (lot 21053), with an estimate of $30,000 to $50,000
• an 1891 $20 Silver Certificate graded PMG 65 Gem Uncirculated EPQ (lot 21170), with an estimate of $30,000 to $50,000

Estimates are provided by the auction house. The $ symbol indicates US Dollars.