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1934 PMG 66 Gem Uncirculated EPQ $10,000 Note Realizes $384,000 At Heritage Sale

 
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 Posted 09/23/2020  4:58 pm Show Profile   Bookmark this topic Add CCFPress to your friends list Get a Link to this Message
PMG - A record-setting rarity was among the notes graded by PMG that dominated the results of auctions of US and world currency.

A rare banknote certified by Paper Money Guaranty® (PMG®) realized $384,000 to lead the way at a pair of Heritage Auctions currency sales held September 17-18, 2020. The result set a world record for any piece of small-size US currency, according to Heritage Auctions.

In a reflection of collectors' clear preference for PMG-certified notes, 23 of the top 25 lots in the Heritage Auctions Currency Sale and 23 of the top 25 lots in the Heritage Auctions World Paper Money Sale were certified by PMG.



The top lot was a 1934 $10,000 Federal Reserve Note (Kansas City) graded PMG 66 Gem Uncirculated EPQ that realized $384,000. Unsurpassed in the PMG Population Report for 1934 $10,000 notes from all districts, this example easily exceeded its pre-auction estimate of $200,000 to $300,000.

"This is the finest example ever offered of a perennial trophy note, and we were pleased to offer it at auction," said Dustin Johnston, Director of U.S. Currency at Heritage Auctions. "I have no doubt that PMG certification helped give bidders the confidence to bid this note to its record-setting price."

Another PMG-certified 1934 $10,000 Federal Reserve Note - this one from New York and graded PMG 63 Choice Uncirculated - realized $144,000. These notes were initially used for high-dollar transactions between financial institutions, but some of them, like this one, found their way into a display of $1 million in cash at the fabled Binion's Casino in Las Vegas.

A PMG-certified 1934 $5,000 Federal Reserve Note (New York) graded PMG 63 Choice Uncirculated EPQ realized $138,000. Like the $10,000 notes, these $5,000 notes are rare and attract lively bidding from devoted collectors whenever they are offered at auction.

Meanwhile, a PMG-certified East Africa, Currency Board 1921 10,000/- Shillings = 500 Pounds graded PMG Choice Very Fine 35 realized $63,000, topping the world paper money sale. The banknote is the highest denomination issued in British East Africa and was one of the highest denominations issued in the world at the time.

"Results from these and other paper money auctions shows the importance of PMG certification," said Mark Salzberg, Chairman of PMG. "The accuracy, consistency and integrity of PMG's expert grading team help bidders feel more confident, especially when bidding online."

Other PMG-certified highlights in the US paper currency sale:

1902 Cheyenne, Wyoming Citizens National Bank $20 Serial Number 1 graded PMG 35 Choice Very Fine that realized $43,200
1902 Cheyenne, Wyoming Citizens National Bank $10 Serial Number 1 graded PMG 35 Choice Very Fine that realized $43,200
1886 $5 Silver Certificate graded PMG 66 Gem Uncirculated EPQ that realized $36,000
1891 $100 Silver Certificate graded PMG 30 Very Fine that realized $33,600
1882 $500 Gold Certificate graded PMG 30 Very Fine that realized $30,000
1863 $20 Interest Bearing Note graded PMG 25 Very Fine that realized $22,800

Other PMG-certified highlights in the world paper currency sale:

India / British Administration 1861-1865 10 Rupees graded PMG 20 Very Fine that realized $45,600
China, Bank of China Complete Set of 1917 Front and Back Proofs ($1, $5, $10, $50, $100), all graded PMG 63 Choice Uncirculated, PMG 64 Choice Uncirculated or PMG 64 Choice Uncirculated NET, that realized $43,200
Canada 1870 Toronto, Manitoba $1 graded PMG 6 Good that realized $36,000
India / British Administration 1913 500 Rupees graded PMG 30 Very Fine that realized $31,200
East Africa, Currency Board 1920 50 Florins = 5 Pounds graded PMG 45 Choice Extremely Fine that realized $30,000
Japan / Constitutional Monarchy ND (1873) 10 Yen graded PMG 20 Very Fine that realized $30,000.
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 Posted 09/23/2020  5:17 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
$384,000 ! But the note only says $10,000 . Sorry , I'm just a coin collector .
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 Posted 09/23/2020  7:57 pm  Show Profile   Bookmark this reply Add southsav to your friends list Get a Link to this Reply
Big bucks, I guess if you got the resources go for it.

Beautiful bill nonetheless. My personal preference is PMG.
Edited by southsav
09/23/2020 7:58 pm
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 Posted 09/23/2020  8:11 pm  Show Profile   Bookmark this reply Add jasper62 to your friends list Get a Link to this Reply
I had to look up who was on the Ten thousand dollar bill. Not a president but was a politician among other things.
Salmon Portland Chase was a U.S. politician and jurist who served as the sixth Chief Justice of the United States. He also served as the 23rd Governor of Ohio, represented Ohio in the United States Senate, and served as the 25th United States Secretary of the Treasury.
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 Posted 09/30/2020  9:22 pm  Show Profile   Bookmark this reply Add Hunter611 to your friends list Get a Link to this Reply
What's the take home after fees and taxes on something like this?
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