Heritage October Long Beach Currency Auction Features Magnificent Notes

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A magnificent hand-signed, triple signature 1882 $100 gold certificate, one of just two known examples, will become a centerpiece of a new collection when it is sold in Heritage Auctions’ Long Beach Expo US Currency Signature® Auction – Long Beach Oct. 5-7.

Fr. 1202 $100 1882 Gold Certificate PMG Very Fine 30
Fr. 1202 $100 1882 Gold Certificate PMG Very Fine 30

The Fr. 1202 $100 1882 Gold Certificate PMG Very Fine 30 (estimate: $700,000+), with serial number A3386, is one of two known to exist, and the only privately owned example. The other is in a much lower grade and was transferred in 1978 from the Treasury Department to the Smithsonian Institution.

"The first emissions of Series 1882 Gold Certificates were printed in minuscule numbers and saw extensive circulation," says Dustin Johnston, Vice President of Currency at Heritage Auctions.

"Only the first 9,000 printed and issued were hand signed by Thomas C. Acton. Two are known to have survived — a microscopic survival rate. With the other known survivor in the National Numismatic Collection at the Smithsonian, this offering is incredible, perhaps once in a generation or even lifetime. Hailing from The Allan J. Goldman auction, its last offering was 20 years ago."

Another magnificent note that is unique in private hands is a Fr. 1203 $100 1882 Gold Certificate PMG Choice Fine 15 (estimate: $500,000+). Series 1882 $100 Gold Certificates were issued for more than three decades. However, there was a huge gap between 1891 and 1898 when no new plates or print runs were ordered for a number of the denominations, creating two distinct Gold Certificate issuing periods.

Fr. 1203 $100 1882 Gold Certificate PMG Choice Fine 15
Fr. 1203 $100 1882 Gold Certificate PMG Choice Fine 15

With no new notes being issued, those already in circulation were used heavily to meet the needs of the channels of commerce, even though hoarding of metal-backed notes was popular. All of the major Gold Certificate rarities offered in this auction are from that first issuing period, when print runs were miniscule compared to the second issuing period.

Among the most important of these rarities is the Fr. 1203, featuring the Signatures of Blanch Bruce and A.U. Wyman, who served jointly in the Treasury from April 1883 to April 1885. Three examples are known; the two others are part of the Federal Reserve Bank Collections in Richmond and New York. Major paper rarities are rarely in original and unaltered condition.

A Fr. 2230-E $10,000 1928 Federal Reserve Note. PMG Choice About Unc 58 is the finest-graded example and is one of just 10 known for its type, two of which are in museum collections.

Fr. 2230-E $10,000 1928 Federal Reserve Note. PMG Choice About Unc 58
Fr. 2230-E $10,000 1928 Federal Reserve Note. PMG Choice About Unc 58

Series 1928 $10,000 FRNs are far rarer than Series 1934 pieces of the same denomination.

"When this note was last offered, it set a price record for a Small Size type note," Johnston says. "As the finest graded example of this massive 20th century type rarity, it should easily reclaim that title."

The record price "title" was only recently eclipsed by its brethren, a discovery 1928 $10,000 from the Kansas City district, which Heritage sold in early 2021 for $456,000.

"It is the ultimate combination of rarity and condition," Johnston said.

Another high-denomination note featured in the auction is a Fr. 2220-F $5,000 1928 Federal Reserve Note. PMG Choice Very Fine 35 (estimate: $150,000+). Like the 1928 FRN $10,000s, far fewer of the 1928 $5,000 FRNs remain compared to their 1934 counterparts. Track & Price has enumerated just 19 serial numbers for the 1928 Series as compared to 109 for the 1934 Series.

Fr. 2220-F $5,000 1928 Federal Reserve Note. PMG Choice Very Fine 35
Fr. 2220-F $5,000 1928 Federal Reserve Note. PMG Choice Very Fine 35

The serial number in this lot is F00000077A and has been included in the census data for many years. The 1928 notes have the "redeemable in gold on demand" obligation clause, while the 1934 notes sport the "redeemable in lawful money" obligation clause. Neither clause is valid today, but the earlier "gold" clause always has been more of a draw to collectors.

A Fr. 2231-B $10,000 1934 Federal Reserve Note. PCGS Banknote Choice Unc 64 (estimate: $150,000+) once was a part of the famed $1 million display at Binion’s Horseshoe Casino in Las Vegas.

Fr. 2231-B $10,000 1934 Federal Reserve Note. PCGS Banknote Choice Unc 64
Fr. 2231-B $10,000 1934 Federal Reserve Note. PCGS Banknote Choice Unc 64

This nicely preserved banknote, with serial number B00003059A, was part of the renowned display that was composed of a total of 100 Series 1934 $10,000 FRNs on the New York district framed by a large gold-color horseshoe. The open end of the horseshoe was on the bottom and the notes were exhibited in five columns of 20 notes each; the note offered in this auction is one of the nicest examples featured in the display.

Other top lots in the auction include, but are not limited to:

A Fr. 172 $100 1880 Legal Tender PMG Choice Uncirculated 64 — one of 11 known (estimate: $125,000+)

Fr. 172 $100 1880 Legal Tender PMG Choice Uncirculated 64
Fr. 172 $100 1880 Legal Tender PMG Choice Uncirculated 64

A Fr. 1204 $100 1882 Gold Certificate PMG Very Fine 25, from the Allan H. Goldman Collection, with the rare large red spiked seal (estimate: $125,000+)

Fr. 1204 $100 1882 Gold Certificate PMG Very Fine 25
Fr. 1204 $100 1882 Gold Certificate PMG Very Fine 25

A Fr. 1218f $1,000 1882 Gold Certificate PMG Very Fine 25 from the Allan H. Goldman Collection (estimate: $125,000+)

Fr. 1218f $1,000 1882 Gold Certificate PMG Very Fine 25
Fr. 1218f $1,000 1882 Gold Certificate PMG Very Fine 25

A Fr. 2231-G $10,000 1934 Federal Reserve Note. PMG Extremely Fine 40 (estimate: $120,000+)

Fr. 2231-G $10,000 1934 Federal Reserve Note. PMG Extremely Fine 40
Fr. 2231-G $10,000 1934 Federal Reserve Note. PMG Extremely Fine 40

Information and images of all lots can be found at HA.com/3589.

About Heritage Auctions

Heritage Auctions is the largest fine art and collectibles auction house founded in the United States, and the world’s largest collectibles auctioneer. Heritage maintains offices in New York, Dallas, Beverly Hills, Chicago, Palm Beach, London, Paris, Geneva, Brussels, Amsterdam and Hong Kong.

Heritage also enjoys the highest Online traffic and dollar volume of any auction house on earth (source: SimilarWeb and Hiscox Report). The Internet’s most popular auction-house website, HA.com, has more than 1,500,000 registered bidder-members and searchable free archives of five million past auction records with prices realized, descriptions and enlargeable photos. Reproduction rights routinely granted to media for photo credit.

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c_q

definitely out of my price range. heck, even the face value of most of these is out of my price range. years ago (way before covid) you could sign up to get a free tour of the paper money collection at the SF federal reserve bank – they had a front and back example of pretty much every denomination and major type of paper money issued (without going into the weeds about plate-block number location changes and stuff) including the not-privately-ownable 100,000 note (so they actually had 2 on display). i’m sure it is all still there, but the lobby… Read more »

Kaiser Wilhelm

It’s sad, c_q, that so many public spaces are now closed due to security concerns.

Antonio

I always found these notes curious. Canada still produces a $1000 note with the queen’s portrait on it. Soon it’ll be replaced by one with King Charles’ portrait.

c_q

actually, canada stopped making $1000 notes quite a while back, and just last year they removed their legal tender status (though you can still exchange them for current smaller notes). so unlikely they will make any $1000 notes with charles on them – at least, not until inflation goes up 1000% or so.

Last edited 2 months ago by c_q
Kaiser Wilhelm

No, but considering his age, the RMC might be printing notes with William on them.

Antonio

Can I hear one for George?

Kaiser Wilhelm

Unless the Queen’s diehard supporters arrange a posthumous return.

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Last edited 2 months ago by Kaiser Wilhelm
Antonio

Of the Canadian $1000 note?

main-qimg-f0267b5ca8bcac1fac99f4f8a6612272-pjlq.jpg
Kaiser Wilhelm

Not exactly what I was deliriously imagining, but it will certainly do.

Kaiser Wilhelm

I wish our bland U.S. currency could be at least somewhat near as attractive as that of just about every other country on earth.

Kaiser Wilhelm

I wasn’t previously aware of how long it had been since there was a King Charles on the Royal Throne in Great Britain. Here below, for example, is a King Charles II coin representative of his reign, one that lasted from 1660 to 1685…

OIP (1).jpg
Last edited 2 months ago by Kaiser Wilhelm