PMG-certified Gold Certificate Realizes $480,000 in Heritage FUN Auction

A seldom-seen Gold Certificate was among 11 historic American banknotes certified by Paper Money Guaranty® (PMG®) that each realized six figures in a recent Heritage Auctions sale. The FUN Currency Signature Auction was held January 10-12, 2024.

The top six lots in the auction were PMG-certified — a stunning group that was led by an 1863 $20 Gold Certificate graded PMG 25 Very Fine (lot 22178) that realized $480,000. Amid the economic instability caused by the Civil War, the United States tried to help stabilize interbank trading by introducing the Series 1863 Gold Certificates, which were backed by gold deposited in the Treasury. Only five 1863 Gold Certificates are accessible to collectors today: a lone $100 note and four $20 notes, according to the auction house. The example in this sale is one of only two 1863 $20 Gold Certificates listed in the PMG Population Report, distinguishing itself by having the engraved signature of the Assistant Treasurer.

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Also finishing strong was a 1934 $10,000 Federal Reserve Note (Dallas) graded PMG 64 Choice Uncirculated and pedigreed to D. Brent Pogue (lot 22585), which realized $453,600. Only 1,200 of these notes were printed and circulated for the Dallas Federal Reserve, contributing to its rarity. Banknotes from certain districts, including Dallas, tend to be avidly collected and retained for extended periods. The scarcity of the 1934 Dallas $10,000 note is enhanced not only by its low production quantity but also by the limited number of surviving examples.

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Other PMG-certified banknotes in this auction included:

• a 1928 $500 Gold Certificate graded PMG 66 Gem Uncirculated EPQ and pedigreed to The Jupiter Collection (lot 22594), which realized $384,000
• a 1928 $5,000 Federal Reserve Note (Atlanta) graded PMG 30 Very Fine EPQ (lot 22583), which realized $360,000
• a 1934 $5,000 Federal Reserve Note (Dallas) graded PMG 55 About Uncirculated EPQ (lot 22584), which realized $336,000
• a 1934 $10,000 Federal Reserve Note (New York) graded PMG 64 Choice Uncirculated (lot 22274), which realized $270,000
• an 1882 $100 Gold Certificate graded PMG 40 Extremely Fine EPQ and pedigreed to the Albert A. Grinnell Collection (lot 22195), which realized $180,000
• a 1934 $5,000 Federal Reserve Note (Chicago) graded PMG 50 About Uncirculated EPQ (lot 22273), which realized $168,000
• a 1907 $1,000 Gold Certificate graded PMG 25 Very Fine and pedigreed to The Jupiter Collection (lot 22205), which realized $150,000
• a 1928 $1,000 Gold Certificate graded PMG 64 Choice Uncirculated (lot 22595), which realized $132,000
• an 1875 $50 Legal Tender graded PMG 15 Choice Fine (lot 22066), which realized $108,000

Prices realized include a buyer’s premium. The $ symbol indicates US Dollars.