PMG-certified Banknotes Top Heritage ANA Auction

Two rare banknotes certified by Paper Money Guaranty® (PMG®) each realized more than $100,000 at the Heritage Auctions ANA World's Fair of Money Currency Platinum Night Auction held August 15 in Chicago.

A 1928 $5,000 Federal Reserve Note (Atlanta) graded PMG Very Fine 30 EPQ realized $117,000, the highest price at the currency auction. Fewer than 20 examples are known of all districts of this issue.

1928 $5,000 Federal Reserve Note graded PMG 30 Very Fine EPQ realized $117,000. Click image to enlarge.

The other note that broke the $100,000 mark was a 1934 $1,000 Federal Reserve Note (San Francisco) graded PMG 25 Very Fine that realized $114,000. It is the only reported serial number 1 $1,000 Federal Reserve Note outside of government hands, with the Smithsonian having a number 1 from the Chicago district for the 1928 and 1934 Series in that denomination.

An 1880 $50 Silver Certificate graded PMG 20 Very Fine realized $84,000. Only six examples are known, one of which is permanently in the San Francisco Federal Reserve Bank Collection.

Another $5,000 Federal Reserve Note, this one a 1934 example from Chicago graded PMG 45 Choice Extremely Fine, realized $60,000.

Other significant PMG-graded banknotes sold at the auction included:

• A 1918 $1,000 Federal Reserve Note graded PMG 53 About Uncirculated EPQ, which realized $48,000.
• An 1882 $500 Gold Certificate graded PMG 30 Very Fine, which realized $30,000.
• An 1861 Confederate States of America $500 graded PMG 25 Very Fine, which realized $28,800.
• A 1934 $10 Silver Certificate graded PMG 30 Very Fine, which also realized $28,800. The note was part of an emergency issue for US troops involved in the North Africa and Mediterranean campaigns of World War II. It also is what is called a “mule,” meaning its back plate and front plate were not intended to go together.
• A 1934 $500 Star Federal Reserve Note (Dallas) graded PMG 53 About Uncirculated, which realized $25,200.

All prices realized include buyer's premium.