Skip to main content

Top price for 1934 FRN

  • Author:
  • Publish date:

Bringing $152,750 was this 1934 $5,000 Federal Reserve Note, Fr. 2221-H.

A 1934 $5,000 Federal Reserve Note, Fr. 2221-H, brought the top price in Heritage Auctions’ Platinum Night American Numismatic Association Currency Signature Auction, Aug. 11 in Anaheim, Calif.

The PMG Choice Uncirculated 64 note went for $152,750.

Prices listed here include the 17.5 percent buyer’s premium.

According to the lot description, “The print run for 1934 St. Louis $5,000’s was incredibly small, just 2,400 notes, with just the Cleveland district issuing fewer notes.”


Bringing $129,250 was a 1934 $10,000 Federal Reserve Note, Fr. 2231-A, in PMG About Uncirculated 55. “Gem sized margins frame this beautifully printed note. The design elements are all perfectly printed, highlighted by the vivid Light Green seal and serial numbers.”

Another Fr. 2231-A 1934 $10,000, this one in PMG About Uncirculated 55 Net, found a new home for $99,875.

Two Chicago district $5,000s, Fr.2221-G, were also offered. A PMG Choice About Uncirculated 58 sold at $99,875 and a PMG Extremely Fine 40 brought $88,125.


Garnering $129,250 was a scarce 1864 Compound Interest Bearing Note, Fr. 192b, graded PNG Very Fine 30 Net. “The example offered here this evening is a new discovery, previously unknown to currency census takers,” wrote the cataloger. “Just one note in the census is recorded by serial number in a grade higher than Extremely Fine that piece has yet to face the scrutiny of today’s third party grading services. Neither service has graded anything above the Very Fine 30 level, making this piece one of the [finer] examples available to collectors.”


The Katherine Davalos Ortega Serial No. 1 Presentation Set, highlighted in the front-page story in the August issue of Bank Note Reporter, was let go for $35,250. It featured a complete denomination set of serial No. 1 Series 1985 FRNs from the Cleveland district ($1, $5, $10, $20, and $50), each with courtesy autographs of Treasurer Ortega and Treasury Secretary James Baker III.

For additional information on this sale and a full list of prices realized, visit

This article was originally printed in Bank Note Reporter.
>> Subscribe today or get your >> Digital Subscription

More Collecting Resources

• The Standard Catalog of United States Paper Money is the only annual guide that provides complete coverage of U.S. currency with today’s market prices.

• Order the Standard Catalog of World Paper Money, General Issues to learn about circulating paper money from 14th century China to the mid 20th century.