Seldom-seen Gold Certificates Among PMG-certified US Banknote Rarities in Heritage FUN Auction

A dazzling array of seldom-seen Gold Certificates is among more than 1,600 historic American banknotes certified by Paper Money Guaranty® (PMG®) that are available in an upcoming Heritage Auctions sale. Online bidding is already underway for the FUN Currency Signature Auction, which will be held on January 10-12, 2024.

The top highlight in this auction is an 1863 $20 Gold Certificate graded PMG 25 Very Fine (lot 22178) with an estimate of at least $600,000. Authorized amid the economic instability associated with the Civil War, the Series 1863 Gold Certificates were the first printed and issued by the United States. The Gold Certificates of 1863 were intended to bring some stability to interbank trading since they were backed by gold on deposit with the Treasury.

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Today, only five 1863 Gold Certificates are available to the collecting community, according to the auction house: a single $100 and four $20 notes. The example in the sale is one of just two 1863 $20 Gold Certificates in the PMG Population Report, and this particular variety features the engraved signature of the Assistant Treasurer.

Also offered is a 1928 $500 Gold Certificate graded PMG 66 Gem Uncirculated EPQ and pedigreed to The Jupiter Collection (lot 22594) with an estimate of at least $500,000. A little more than 100 examples of the 1928 $500 Gold Certificate appear in the PMG Population Report, and this is the single-finest example. Small-size Gold Certificates were only made available to the public from the 1928 Series. After public ownership of gold was effectively banned early in the Great Depression, a 1934 Series was authorized, but was used only for transactions between institutions.

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Another standout PMG-certified banknote in this auction is a 1907 $1,000 Gold Certificate graded PMG 25 Very Fine and pedigreed to The Jupiter Collection (lot 22205) with an estimate of at least $250,000. According to the auction house, this note is believed to be unique for this signature combination, which includes Register of the Treasury James Carroll Napier and Treasurer of the United States Lee McClung, whose terms overlapped for only about 20 months in 1912 and 1913.

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Another key rarity is an 1882 $100 Gold Certificate graded PMG 40 Extremely Fine EPQ and pedigreed to the Albert A. Grinnell Collection (lot 22195), with an estimate of at least $250,000. The note is the finest graded of only three collectible examples, according to the auction house. It completes a stunning group of four PMG-certified Gold Certificates that each have estimates of at least a quarter-million dollars.

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Other PMG-certified banknotes offered in this auction include:

• a 1934 $10,000 Federal Reserve Note (Dallas) graded PMG 64 Choice Uncirculated and pedigreed to D. Brent Pogue (lot 22585) with an estimate of at least $300,000
• a 1928 $5,000 Federal Reserve Note (Atlanta) graded PMG 30 Very Fine EPQ (lot 22583) with an estimate of at least $250,000
• a 1934 $10,000 Federal Reserve Note (New York) graded PMG 64 Choice Uncirculated (lot 22274) with an estimate of at least $250,000
• a 1934 $5,000 Federal Reserve Note (Dallas) graded PMG 55 About Uncirculated EPQ (lot 22584) with an estimate of at least $225,000
• a 1934 $5,000 Federal Reserve Note (Chicago) graded PMG 50 About Uncirculated EPQ (lot 22273) with an estimate of at least $200,000
• a 1928 $1,000 Gold Certificate graded PMG 64 Choice Uncirculated (lot 22595) with an estimate of at least $125,000
• an 1880 $10 Legal Tender graded PMG 69 Superb Gem Uncirculated EPQ (lot 22056) with an estimate of at least $125,000
• an 1880 $10 Legal Tender graded PMG 40 Extremely Fine (lot 22057) with an estimate of at least $100,000
• an 1875 $50 Legal Tender graded PMG 15 Choice Fine (lot 22066) with an estimate of at least $80,000
• an 1864 $50 Interest Bearing Note graded PMG 20 Very Fine (lot 22075) with an estimate of at least $60,000

Estimates are provided by the auction house. The $ symbol indicates US Dollars.