A consecutive pair of 1934 $5,000 Federal Reserve Notes, Fr. 2221-E, were the stars of the Stack’s Bowers Galleries sale held Aug. 10 at the American Numismatic Association’s World’s Fair of Money in Anaheim, Calif.
Bringing $258,500, the auction lot description noted of the pair, “This consecutive pair of 1934 $5000’s from the Richmond district could very well be one of the most important High Denomination notes this hobby has ever seen. Not because of the sequential order, but because we believe that the second note of this pair is a replacement.” Unlike other denominations, where replacement notes have stars added to the serial number, “it was more cost effective to reissue the same exact serial number of the damaged note at a later time period when the blueish/green seals were being issued.”
The notes offered were serial No. E00000077A in PMG About Uncirculated 55 with a vivid light green seal, which is correct for regular issued $5,000s and $10,000s, and serial No. E00000078A in PMG Choice Uncirculated 63 Net, which has a blue/green seal “which is NOT correct for regular issues $5,000 and $10,000s.”
Still, PMG, the cataloger observed, “reviewed this note for its replacement possibility and deemed it inconclusive for being as such.”
Bring $111,625 was a 1934 $10,000 Federal Reserve Note, New York, Fr. 2231-B, PCGS Very Choice New 64. The ex-Binion Hoard note was described as “A trophy note that will most certainly be a highlight of any collection.”
All prices listed here include the 17.5 percent buyer’s premium.
A 1928 $5,000 Federal Reserve Note, Atlanta, Fr. 2220-F, went for $117,500 in PCGS Very Fine 35 Apparent Minor Restorations. “The 1928 series notes are vastly more scarce than their 1934 counterparts. PCGS has graded a scant five pieces for the catalog number. It lands in the middle of the known grades and it has been a few years since we offered any $5000’s from the 1928 series.”
A newly discovered Original Series $100 on The Salem National Banking Co., Salem, N.J., Fr. 454a, brought $164,500 in PMG Choice Very Fine 35 Net. Restoration. It is the only known Original Series $100 from New Jersey.
Sold $105,750 was a 1933 $10 Silver Certificate, Fr. 1700, in PMG 67 EPQ. The note is the top graded example by PCGS or PMG.
Among the Military Payment Certificates offered in the Paymaster Collection, a one-of-a-kind Series 701 Specimen Book featuring progressive impressions, composite impressions and specimen certificates brought $70,500.
For additional information on this sale, visit www.stacksbowers.com.
This article was originally printed in Bank Note Reporter.
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