Two PMG-certified Notes Each Realize Six Figures in Heritage Currency Sale

Two rare large-denomination US banknotes certified by Paper Money Guaranty® (PMG®) each realized six figures at a Heritage Auctions US currency sale in April 2020.

1934 $5,000 Federal Reserve Note (Philadelphia) graded PMG 55 About Uncirculated. Realized: $138,000. Click image to enlarge.

A 1934 $5,000 Federal Reserve Note (Philadelphia) graded PMG 55 About Uncirculated realized $138,000. A 1934 $10,000 Federal Reserve Note (Boston) graded PMG 55 About Uncirculated realized $132,000. That both notes brought six-figure sums is a testament to the strength of the market for PMG-certified rarities.

A Zanzibar 1908-28 20 Rupees Front Color Trial Specimen graded PMG 64 Choice Uncirculated. Realized: $72,000. Click image to enlarge.

In the Heritage world currency sale, 19 of the top 20 lots were PMG-certified. They were led by a Zanzibar 1908-1928 20 Rupees Front Color Trial Specimen graded PMG 64 Choice Uncirculated that realized $72,000.

The strength of PMG-certified lots could be seen throughout the auction. For instance, A Kuwait 1960 (ND 1961) 1/4 Dinar graded PMG 70 Gem Uncirculated EPQ★ realized $7,800.

The currency sales were supposed to coincide with the Central States Numismatic Society convention in Chicago, one of the premiere annual events on the numismatic calendar. Instead, because of the coronavirus situation, they were conducted over the phone and online, underscoring the importance of PMG's expert and independent authentication, grading and encapsulation services in this new era of remote sales.

Other PMG-certified US highlights included:

• a 1918 $1,000 Federal Reserve Note (San Francisco) graded PMG 55 About Uncirculated that realized $40,800
• a Texas 1840s $2 graded PMG 4 Good that realized $36,000
• a 1928 $500 Federal Reserve Note (Philadelphia) graded PMG 30 Very Fine that realized $33,600
• a Mississippi 1902 $10 graded PMG 20 Very Fine that realized $33,600
• an 1862 $50 Legal Tender graded PMG 20 Very Fine that realized $32,400
• a $500 1922 Gold Certificate graded PMG 30 Very Fine that realized $31,200
• a 1918 Federal Reserve Note (St. Louis) graded PMG 30 Very Fine that realized $31,200
• an 1882 $50 Gold Certificate graded PMG 64 Choice Uncirculated that realized $28,800
• a 1918 $1,000 Federal Reserve Note (San Francisco) graded PMG 35 Choice Very Fine that realized $25,200.

Other PMG-certified world highlights included:

• a Lebanon 1939 250 Livres graded PMG 40 Extremely Fine that realized $57,600
• a Zanzibar 1908-28 5 Rupees graded PMG 25 Very Fine that realized $38,400
• a Russia 1787-1801 10 Rubles graded PMG 15 Choice Fine that realized $26,400
• a Turks and Caicos 1918 1 Pound graded PMG 20 Very Fine and pedigreed to the Dauer Collection that realized $26,400
• an Australia undated (1918) 50 Pounds graded PMG 55 About Uncirculated and pedigreed to the Dauer Collection that realized $26,400
• a Canada 1844-61 $1 (5/- Shillings) graded PMG 12 Fine that realized $21,600
• a French India 1915 50 Roupies graded PMG 25 Very Fine that realized $14,400
• a Cuba 1872-91 25 Pesos graded PMG 20 Very Fine that realized $14,400
• a Southern Rhodesia 1939 5 Pounds graded PMG 50 About Uncirculated that realized $13,200
• a Cuba 1872-90 50 Pesos graded PMG 20 Very Fine that realized $10,800.