$10,000 bill from Great Depression sells for $480,000 at auction.
A Rare $100,000 Bill Sells for a Whopping $480,000 at Auction
In a thrilling auction, a $100,000 bill from the Great Depression era has fetched an astonishing $480,000. This exceptional 1934 Federal Reserve note, certified by the Paper Money Guaranty, was deemed to be of Exceptional Paper Quality.
The bill, featuring the image of former Secretary of the Treasury Salmon P. Chase, who served under President Abraham Lincoln, was sold through Heritage Auctions. It took center stage at the Long Beach Expo currency auction and achieved a record-breaking sale price.
A Coveted Collectible
“Large-denomination notes always have drawn the interest of collectors of all levels,” said Dustin Johnston, vice president of currency at Heritage Auctions. “The $10,000 trails only the $100,000 gold certificate issued in 1934, and of the 18 examples graded by PMG, this example is tied for the highest-graded.”
This remarkable bill surpasses the previous sale of a 1934 $100,000 bill, which went for $384,000 in September 2020. According to Johnston, the most recent record-setting note is “an absolute prize that will command a share of the spotlight in its new collection home.”
A Piece of Monetary History
The $100,000 bill holds a significant place in history as the highest denomination note ever circulated publicly. Its purpose was to facilitate fund transfers between banks of the Federal Reserve, as explained by the Museum of American Finance.
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What was the final auction price for the 1934 $100,000 bill and how does it compare to previous sales?
In a thrilling auction, a $100,000 bill from the Great Depression era has recently fetched an astonishing $480,000. This exceptional 1934 Federal Reserve note, certified by the Paper Money Guaranty, was deemed to be of Exceptional Paper Quality.
The bill features the image of former Secretary of the Treasury Salmon P. Chase, who served under President Abraham Lincoln, and was sold through Heritage Auctions. It took center stage at the Long Beach Expo currency auction and achieved a record-breaking sale price.
“Large-denomination notes always have drawn the interest of collectors of all levels,” said Dustin Johnston, vice president of currency at Heritage Auctions. “The $10,000 trails only the $100,000 gold certificate issued in 1934, and of the 18 examples graded by PMG, this example is tied for the highest-graded.”
This remarkable bill surpasses the previous sale of a 1934 $100,000 bill, which went for $384,000 in September 2020. According to Johnston, the most recent record-setting note is “an absolute prize that will command a share of the spotlight in its new collection home.”
The $100,000 bill holds a significant place in history as the highest denomination note ever circulated publicly. Its purpose was to facilitate fund transfers between banks of the Federal Reserve, as explained by the Museum of American Finance.
Collectors and enthusiasts alike continue to be drawn to rare and valuable pieces of monetary history. The sale of this $100,000 bill serves as a testament to the enduring interest in and appreciation for unique and valuable collectibles. Items like these not only hold intrinsic historical and monetary value but also offer glimpses into the economic and political landscapes of their respective eras.
As more and more collectors seek out exceptional pieces like this $100,000 bill, it becomes increasingly important to preserve and document these artifacts for future generations. Auctions and exhibitions provide platforms for these rare and valuable items to be showcased and properly appraised.
In conclusion, the sale of the $100,000 bill for an astounding $480,000 at auction highlights the timeless appeal and enduring value of rare and historical currency. As individuals continue to appreciate and seek out rare collectibles, it is through these auctions that significant pieces of history find new homes and continue to be cherished for generations to come.
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