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$500 Interest Bearing Note surpasses $350,000

An 1864 $500 Interest Bearing Note, one of only two of its design type known, sold for $352,500 in Stack’s Bowers Galleries’ November Baltimore official currency auction of the Whitman Coin & Collectibles Winter Expo, Nov. 5 and 9.

The front side of the top lot $500 Interest Bearing Note.

The front side of the top lot $500 Interest Bearing Note.

Reverse side of the note.

Reverse side of the note.

The rarity is unique for the Friedberg number, Fr. 212b, and has been off the market since 1971. The PMG Very Fine 25-graded note, which also serves as the Friedberg plate note, was estimated to sell for $300,000 to $500,000.

Prices include the 17.5 percent buyer’s premium.

A newly discovered Raphael Thian, “The Currency of the Confederate States” Master Album, sold for $49,937.50 on a pre-sale estimate of $60,000 to $80,000. The album was discovered earlier this year after more than 50 years of storage and is one of only around a half dozen known.

There's big money in rare United States currency. Learn all you can by checking out the Standard Catalog of United States Paper Money.

There’s big money in rare United States currency. Learn all you can by checking out the Standard Catalog of United States Paper Money.

Other top lots included:

• $5 Treasury Note, Feb. 24, 1815, Fr. TN-15a, PCGS Extremely Fine 45 Apparent, $28,200;

• 1929 Type 1 $5 The First National Bank of Hamilton, Mont., serial No. 1 uncut sheet of six notes, charter 9486, Fr.1800-1, PMG About Uncirculated 55 EPQ, $28,200;

• 1886 $5 Silver Certificate, “Silver Dollar Back,” Fr. 263, PCGS Gem New 66 PPQ, $24,675;

• 1896 $5 Silver Certificate, “Educational,” Fr. 268, PCGS Superb Gem New 67 PPQ, $24,675;

• 1929 Type 2 $10 The First National Bank of Lake Providence at Lake Providence, La., serial No. 1 uncut sheet of six notes, Fr. 1801.2, charter 6291, PMG Choice About Uncirculated 58, $23,500;

• 1891 $2 Silver Certificate, “Windom,” Fr. 245, PCGS Superb Gem New 67 PPQ, $22,912.50;

• 1899 $5 Silver Certificate, Fr. 271, PGCS Superb Gem New 68 PPQ, $21,150.

For additional information, visit www.stacksbowers.com.

This article was originally printed in Bank Note Reporter.
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More Collecting Resources
• Come on down to the Chicago International Coin Fair in Rosemont, Ill. on April 14 to 17, 2016 to see impressive world coins, meet new collectors and participate in Heritage Auction’s fantastic coin auction.
• Are you a U.S. coin collector? Check out the 2016 U.S. Coin Digest for the most recent coin prices.

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