A $10,000 banknote from the Great Depression era has fetched a remarkable $480,000 at the Long Beach Expo currency auction in Dallas, Texas, hosted by Heritage Auctions. The banknote received the highest-grade certification from Paper Money Guarantee (PMG), a third-party organization specializing in the analysis and certification of paper money.
Dustin Johnston, Vice President of Currency at Heritage Auctions, highlighted the enduring appeal of large-denomination notes among collectors. He stated, "Large-denomination notes always have drawn the interest of collectors of all levels."
This particular $10,000 banknote is of exceptional rarity. It ranks second only to the $100,000 gold certificate issued in 1934. Among the 18 examples graded by PMG, this banknote shares the highest-graded status. For small-size $10,000 Federal Reserve Notes (FRNs), PMG has graded only four as equal and five as higher. As a result, this banknote is considered a highly prized item destined to become a centerpiece in its new collection home, according to Johnston.
Issued in 1934, the banknote features the portrait of Salmon P. Chase, the Treasury Secretary under President Abraham Lincoln. Its historical significance and rarity make it a sought-after item among collectors of currency and memorabilia.
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In addition to the banknote sale, the Heritage Auctions' Long Beach Expo US Coins Signature® Auction saw the sale of an 1899 Twenty Dollar coin for $468,000. The coin's exceptional rarity and high grade contributed to its prominent position in the auction, making it a prized centerpiece for collectors.
Todd Imhof, Executive Vice President at Heritage Auctions, described the 1899 double eagle coin as an "extraordinary coin" and emphasized its rarity and historical value.
These impressive sales reflect the enduring fascination with rare and historically significant currency and coins among collectors.
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