PMG Notes Lead the Pack at Heritage Auction’s 2013 FUN Currency Auction

Posted on 1/22/2013

Demand for PMG graded material was easily apparent at Heritage Auction's recent $13.4 million FUN Currency Auction held in Orlando, Florida, Jan. 9–14.

The auction was the second highest grossing paper money auction of all time and offered collectors and dealers an abundance of both rare and high grade notes unseen at auction in recent years. Among the 4,408 lots offered in the auction were more than 1,800 lots encapsulated by PMG.

Image Courtesy of Heritage Auctions.
Click image to enlarge.

The auction's top performing lot was a Fr#185l $500 1880 Legal Tender note housed in a PMG Choice Very Fine 35 holder. Unique in private hands, the pinnacle lot from the Greensboro Collection (Ex- Dr. Edward & Joanne Dauer Collection) realized an impressive $411,250. In all, nine PMG graded lots eclipsed the six-figure mark including a $235,000 price realization for a Fr#341 $100 1880 Silver Certificate PMG graded Choice Uncirculated 64 and $182,125 for a Fr#150 $50 1863 Legal Tender note, PMG graded Extremely Fine 40.

PMG notes were also top performers in several individual categories including national banknotes, where a unique serial number 1 $5 Original Black Charter Number Fr#399 from Red Oak, IA sold for $99,875. Small size notes were led by a fantastic Fr#2221-H $5000 1934 Federal Reserve Note graded PMG Choice Uncirculated 64 EPQ which topped its high estimate with a realization of $141,000. Both notes were also from the spectacular Greensboro Collection. The top Confederate lot sold in the auction was a gorgeous T-3 1861 $100 note issued at Montgomery from the Old Tennessee Rebel Collection. The PMG Choice About Uncirculated 58 EPQ graded note realized $27,025. In fractional currency, a rare Fr#1354 Third Issue 50 Cent Justice from the Paragon Collection, PMG graded Choice About Uncirculated 58 EPQ and likely the finest known for the number, realized a remarkable $28,200.

Image Courtesy of Heritage Auctions.
Click image to enlarge.

Another notable offering from the auction was a fascinating collection of United States Treasury artist’s renditions of 22 different notes Ca. 1908-1909. Encapsulated without grades by PMG, the renderings realized a combined $90,475 in three separate lots. The lots contained hand drawn renderings of the basic designs for all denominations of Legal Tender notes, Gold Certificates and Silver Certificates current at the time.

Other notable price realizations from the auction:

  • Fr#187k, $1,000 1880 Legal Tender PMG Extremely Fine 40 Net – $330,000 From The Greensboro Collection
  • Fr#1192a, $50 1882 Gold Certificate PMG Very Fine 25 – $200,000 From The Greensboro Collection
  • Fr#1219b, $1,000 1907 Gold Certificate PMG Very Fine 25 – $176,250 From The Greensboro Collection
  • Fr#187j, $1,000 1880 Legal Tender PMG Very Fine 30 Net – $176,250 From The Greensboro Collection
  • Fr#377, $100 1890 Treasury Note PMG Very Fine 30 – $129,250 From The Greensboro Collection
  • Fr#1201, $100 1882 Gold Certificate PMG Very Fine 25 – $117,500 From The Greensboro Collection
  • Fr#127, $20 1869 Legal Tender PMG Superb Gem Uncirculated 67 EPQ – $105,750 From The Greensboro Collection

*All prices realized include a 17.5% Buyer’s Premium.

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