The banknote was issued in 1934 and features the face of late US president Abraham Lincoln’s treasury secretary, Salmon P. ChaseA $10000 Great Depression-era banknote has fetched a whopping $480,000 at the Long Beach Expo currency auction in Dallas, Texas on Friday. The expo was hosted by Heritage Auctions. It’s grading was done by Paper Money Guarantee Vice president of currency at Heritage Auctions, Dustin Johnston highlighted how large-denomination notes are a hot favourite among collectors(PMG)third-party organisation that analyses and certifies paper money. The banknote was certified to be
Large-denomination notes always have drawn the interest of collectors of all levels said Johnston The $10,000 trails only the $100,000 gold certificate issued in 1934, and of the 18 examples graded by PMG, this example is tied for the highest-graded. Among all small-size $10,000 FRNs, PMG has graded only four equal and five higher, so this is an absolute prize that will command a share of the spotlight in its new collection home,” added JohnstonNotably, the banknote was issued in 1934 and features the face of late US
Earlier, during the Heritage Auctions’ Long Beach Expo US Coins Signature® Auction, an 1899 Twenty Dollar coin had got sold for $468,000It takes an extraordinary coin to rise to the top of an auction with such consistent high quality, and this 1899 double eagle is that kind of coin. It is such an exceptional rarity — the recorded original mintage was just 84 proofs— and over time, that total is dwindled to somewhere around 30Of the survivors this example carries the highest grade, and that includes the one that is in the Smithsonian Institution It takes an extraordinary coin to rise to the top of an auction with such consistent high quality, and this 1899 double eagle is that kind of coin,” said
The winning bidder acquired an exceptional trophy-level coin that immediately becomes a collection centerpiece,” said Todd Imhof, Executive Vice President at Heritage AuctionsThe unusual bill, issued in 1934, features the face of late US president Abraham Lincoln’s treasury secretary, Salmon P. ChaseIt was graded by Paper Money Guarantee (PMG), a third-party organization that assesses and certifies paper money, and was found to be in the highest-grade conditionLarge-denomination notes always have drawn the interest of collectors of all levels,” said Dustin Johnston, vice president of currency at Heritage Auctions, which hosted the expo
he $10,000 trails only the $100,000 gold certificate issued in 1934, and of the 18 examples graded by PMG, this example is tied for the highest-gradedIt was the largest amount for which a 1934 $10,000 bill has sold, beating the previous record of US$384,000 set in September 2020, a spokesman for the auction house saidMr Johnston called the note “an absolute prize that will command a share of the spotlight in its new collection homeThe $10,000 bill was the highest denomination banknote ever to circulate publicly in the US, with the now-defunct $100,000 bill only used to transfer funds between Federal Reserve banks, according to the Museum of American Finance website
Previously, $500, $1000, $5000 and $10,000 notes were in circulation in the US. Although they are still legal tender, these high-denomination bills were last printed in 1945 and officially discontinued in 1969 due to “lack of useThe $100 bill has been the highest denomination banknote issued by the US ever sinceParallel to Heritage Auction’s banknotes auction was a coins auction, where a rare 1899 double eagle $20 gold coin was the star of the showThe coin, which featured a portrait of the head of Lady Liberty, of New York’s Statue of Liberty, fetched US$468,000 (A$729,600) on ThursdayOnly 84 coins of its kind were issued, and only about 30 are thought to still be around, according to the auction house