PMG-certified US Gold Certificates Offered in Stack's Bowers Sale

Posted on 2/24/2026

A trio of notes are expected to sell for six figures each in the March 12 auction.

Stack’s Bowers Galleries is offering dozens of rare US banknotes that are certified by PMG®, including three that are expected to realize six-figure prices. Bidding is already underway for the Spring 2026 Showcase Auction - Session 7 - Rarities Night, which will be held on March 12, 2026.

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Among the featured notes is a 1928 $100 Gold Certificate graded PMG 63 Choice Uncirculated EPQ (lot 7057), with an estimate of $200,000 to $300,000. This note was spared from the sweeping redemption that followed Executive Order 6102, issued in 1933 by President Franklin D. Roosevelt at the height of the Great Depression, requiring the surrender of most privately held gold and gold-backed currency. The order removed Gold Certificates from circulation and signaled the federal government’s shift away from the gold standard. This is also a Replacement note; these were issued in limited numbers to substitute for notes unfit for circulation.

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Adding to the excitement are more Gold Certificates from the 1928 series: a $500 Gold Certificate graded PMG 65 Gem Uncirculated EPQ (lot 7058), with an estimate of $150,000 to $250,000, and a $1,000 Gold Certificate graded PMG 63 Choice Uncirculated EPQ (lot 7059), with an estimate of $100,000 to $150,000. Within the same Series of 1928, the $500 and $1,000 Gold Certificates represent the highest denominations of gold-backed paper money ever intended for public circulation.

Issued in extremely limited numbers and used almost exclusively for large interbank and commercial transactions, these notes had little opportunity to circulate before Executive Order 6102 effectively sealed their fate. As a result, the vast majority were swiftly redeemed and destroyed, leaving only a handful of survivors today.

Other PMG-certified US banknotes in this sale include:

  • a 1934 $100 Federal Reserve Note (Cleveland) with Serial Number 1 graded PMG 66 Gem Uncirculated EPQ (lot 7028), with an estimate of $75,000 to $125,000
  • a 1929 $100 Federal Reserve Bank Note (Chicago) graded PMG 65 Gem Uncirculated EPQ (lot 7018), with an estimate of $50,000 to $75,000
  • a 1928 $50 Gold Certificate graded PMG 63 Choice Uncirculated EPQ (lot 7056), with an estimate of $50,000 to $70,000
  • a 1928 $1 Legal Tender Note graded PMG 66 Gem Uncirculated EPQ (lot 7001), with an estimate of $40,000 to $60,000
  • a 1933 $10 Silver Certificate graded PMG 66 Gem Uncirculated EPQ (lot 7012), with an estimate of $40,000 to $60,000
  • a 1934A $5 Hawaii - World War II Emergency Issue with Inverted Overprint Error graded PMG 65 Gem Uncirculated EPQ (lot 7063), with an estimate of $40,000 to $60,000
  • a 1935A $1 Experimental (R) Silver Certificate graded PMG 66 Gem Uncirculated EPQ (lot 7009), with an estimate of $30,000 to $50,000
  • a 1934 $1,000 Federal Reserve Note (Philadelphia) graded PMG 66 Gem Uncirculated EPQ (lot 7041), with an estimate of $30,000 to $50,000
  • a 1934 $5 Hawaii – World War II Emergency Issue graded PMG 65★ Gem Uncirculated EPQ (lot 7046), with an estimate of $30,000 to $50,000
  • a 1928 $10 Gold Certificate graded PMG 66 Gem Uncirculated EPQ (lot 7052), with an estimate of $30,000 to $50,000

Estimates are provided by the auction house.


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