Unique $3 US Note Certified by PMG Realizes $168,000

A unique piece of paper money — a fully issued and uncanceled 1815 $3 Treasury Note — realized $168,000 to lead the way at the first auction of the renowned Mike Coltrane Collection. Paper Money Guaranty® (PMG®) certified the note and virtually all of the other 484 lots in the November 4-5, 2020, sale organized by Heritage Auctions.

The fully issued and uncanceled 1815 $3 Treasury Note graded PMG Very Fine 25 realized $168,000. Printed as the costly War of 1812 drew to a close, it is the only known example of the only $3 bill ever issued by the United States government.

1815 $3 Treasury Note graded PMG Very Fine 25 and pedigreed to the Mike Coltrane Collection, as well as FCC Boyd, JJ Ford, Jim O'Neal and Donald Kagin. Realized: $168,000. Click images to enlarge.

Another note in the sale also realized six figures. An 1875 $100 National Gold Bank Note issued by Union National Gold Bank of Oakland graded PMG 12 Fine NET realized $144,000. National Gold Bank Notes were issued by nine National Gold Banks that were chartered in California in the 1870s. This is the only known $100 National Gold Bank Note from this bank.

1875 $100 National Gold Bank Note issued by Union National Gold Bank of Oakland graded PMG 12 Fine NET and pedigreed to the Mike Coltrane Collection. Click images to enlarge.

Boasting some of the greatest rarities in American numismatics, the first sale of the Mike Coltrane Collection realized over $2.5 million in total. Bidding is already underway for another auction of Mike Coltrane Collection notes, focused on North Carolina currency. PMG also certified the vast majority of the notes in this sale, scheduled to end November 29, 2020.

Other PMG-certified highlights from the November 4-5 sale included:

• An 1863 $50 Interest Bearing Note graded PMG 30 Very Fine that realized $96,000
• an 1863 $20 Interest Bearing note graded PMG 35 Choice Very Fine that realized $90,000.
• an 1891 $50 Treasury Note graded PMG 25 Very Fine that realized $87,000
• an 1863 $100 Legal Tender graded PMG 35 Choice Very Fine that realized $87,000
• an 1875 $50 issued by The Second National Bank of Danville, Illinois, graded PMG 30 Very Fine that realized $78,000
• an 1861 Demand Note (New York) graded PMG 25 Very Fine that realized $72,000
• an 1875 $100 issued by The City National Bank of Williamsport, Pennsylvania graded PMG 30 Very Fine that realized $66,000
• an 1864 $50 Compound Interest Treasury Note graded PMG 30 Very Fine that realized $52,800
• an 1880 $100 Silver Certificate graded PMG 30 Very Fine that realized $52,800

Prices realized include buyer's premium.