Rare PMG-certified Vintage US Note Sells for $492,000 in Heritage Sale

Eight US numismatic rarities certified by Paper Money Guaranty® (PMG®) each realized more than $100,000 in a recent Heritage Auctions sale, including a Gold Certificate that sold for just shy of half a million dollars. More than 1,000 PMG-graded notes were offered during the Central States US Currency Signature Auction, which concluded May 7, 2022.

The top note was an 1882 $1,000 Gold Certificate graded PMG 30 Very Fine (lot 20909), which realized $492,000. It is believed to be one of only two of this catalog number in private hands.

1882 $1,000 Gold Certificate graded PMG 30 Very Fine. Realized: $492,000 Click images to enlarge.

Several high-denomination banknotes graded by PMG had a strong showing in the sale, including a 1934 $10,000 Federal Reserve Note (Chicago) graded PMG 64 Choice Uncirculated EPQ (lot 20944), which realized $300,000. This is the highest denomination of Federal Reserve Note ever printed, and they were mainly used in transactions between financial institutions.

1934 $10,000 Federal Reserve Note (Chicago) graded PMG 64 Choice Uncirculated EPQ. Realized: $300,000 Click images to enlarge.

Also realizing $300,000 was a 1934 $5,000 Federal Reserve Note (Chicago) graded PMG 64 Choice Uncirculated EPQ (lot 20943). It earned one of the highest grades of the 116 Small Size $5,000 Federal Reserve Notes listed in the PMG Population Report.

1934 $5,000 Federal Reserve Note (Chicago) graded PMG 64 Choice Uncirculated. Realized: $300,000 Click images to enlarge.

Other PMG-certified highlights in the auction included:

• a 1934 $5,000 Federal Reserve Note (Dallas) graded PMG 64 Choice Uncirculated (lot 21047), which realized $264,000
• a 1934 $10,000 Federal Reserve Note (Boston) graded PMG 55 About Uncirculated (lot 21048), which realized $253,615
• an 1869 $50 Legal Tender graded PMG 55 About Uncirculated (lot 21001), which realized $216,000
• an 1880 $1,000 Legal Tender graded PMG 30 Very Fine NET (lot 20836), which realized $216,000
• an 1865 $50 Interest Bearing Note graded PMG 20 Very Fine NET (lot 20838), which realized $138,000
• an 1899 $1 Silver Certificate with a Solid-9 Serial Number graded PMG 64 Choice Uncirculated EPQ (lot 21003), which realized $90,000
• a 1918 $500 Federal Reserve Note (Cleveland) graded PMG 40 Extremely Fine (lot 20881), which realized $52,800
• a 1918 $500 Federal Reserve Note (Chicago) graded PMG 35 Choice Very Fine EPQ★ (lot 20884), which realized $48,000
• an 1899 $5 Silver Certificate with a Solid-1 Serial Number graded PMG 64 Choice Uncirculated (lot 21011), which realized $48,000
• a Kahului, Territory of Hawaii 1902 $10 National Bank Note graded PMG 25 Very Fine (lot 21029), which realized $48,000

All prices include a buyer’s premium.