PMG-certified High-denomination US Banknote Sells for Over $250,000

A $5,000 Federal Reserve Note and a set of US banknotes featuring Solid-9 Serial Numbers, all certified by Paper Money Guaranty® (PMG®), each achieved bids in the six figures in a recent sale. The World Banknote Auctions US Currency Sale 1 was held on February 24, 2023.

At center stage in the auction was a 1934 $5,000 Federal Reserve Note (Dallas) graded PMG 64 Choice Uncirculated (lot 1164) that realized $270,250. These high-denomination notes were typically used for transactions between financial institutions. According to the auction house, only 28 examples of these 1934 $5,000 notes from Dallas are known to exist. The PMG Population Report lists 19 examples of this note, with only five graded higher.

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Meanwhile, the fancy serial number set realized $149,000. It comprises 12 PMG-graded 1999 $10 Federal Reserve Notes with Solid-9 Serial Numbers (lot 1146), which includes one note from each Federal Reserve District bank. Because of a policy adopted by the Bureau of Engraving and Printing after the 1974 Series that halted all print runs at 96 million, Solid-9 Serial Numbers on $10 notes from the last few decades are extremely rare.

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The PMG-certified 1999 $10 Federal Reserve Notes included in this lot were:

• a Boston district note with serial number BA99999999Y graded PMG 67 Superb Gem Uncirculated EPQ
• a New York district note with serial number BB99999999Y graded PMG 67 Superb Gem Uncirculated EPQ
• a Philadelphia district note with serial number BC99999999Y graded PMG 67 Superb Gem Uncirculated EPQ
• a Cleveland district note with serial number BD99999999Y graded PMG 67 Superb Gem Uncirculated EPQ
• a Richmond district note with serial number BE99999999Y graded PMG 65★ Gem Uncirculated EPQ
• an Atlanta district note with serial number BF99999999Y graded PMG 65★ Gem Uncirculated EPQ
• a Chicago district note with serial number BG99999999Y graded PMG 65★ Gem Uncirculated EPQ
• a St. Louis district note with serial number BH99999999Y graded PMG 66★ Gem Uncirculated EPQ
• a Minneapolis district note with serial number BI99999999Y graded PMG 67 Superb Gem Uncirculated EPQ
• a Kansas City district note with serial number BJ99999999Y graded PMG 64 Choice Uncirculated EPQ
• a Dallas district note with serial number BK99999999Y graded PMG 66 Gem Uncirculated EPQ
• a San Francisco district note with serial number BL99999999Y graded PMG 66 Gem Uncirculated EPQ

Prices realized include buyer’s premium.