From the Grading Room

Rare 1928 $500 Star Note from the San Francisco district.

Recently we had the privilege to see a 1928 $500 star note from the San Francisco district. Among some of the rarest of the high denominations, this 1928 star note is the first PMG has seen from the San Francisco district. Only four other examples of this type of note have been recorded with each coming from Philadelphia, Cleveland, Chicago and St. Louis. Recent sales have been outstanding when these notes surface, as a PMG 25 Net Cleveland district note brought $41,125 at a 2013 Heritage Auction. The rarity alone of 1928 $500 star notes has demanded strong prices in the past, and one would only expect the same when this San Francisco piece hits the market.