Talk about a return on investment.
This fall, Heritage Auctions is hosting its Long Beach Expo U.S. Currency Signature Auction from September 13 to 15, which will offer a $1,000 Federal Reserve Note as its top lot. It’s the first time the company has ever offered a note from 1918 with an EPQ (exceptional paper quality) grade by PMG. Having been off the market for roughly 30 years, it hails from the Thomas Collup Collection, one of the “finest assemblages, in terms of eye appeal and technical grades, ever handled at Heritage,” the house says. Experts estimate the note could fetch over $250,000.
Fourteen examples of the bill have been enumerated by Track & Price, while PMG examined just three Fr. 1133-D copies, the auction house claims. This lot and three others received the highest grade by T&P, but the offering headed to auction proved to be the finest and was passed on to PMG for grading. The first and last time it appeared at auction was in a September 1997 sale whose catalog gave it a glowing description.
“Beautifully bright and strictly original, this is the equal of any $1,000 Federal Reserve Note that could exist,” it stated. “It is fresh with its embossing effect readily apparent to even the untrained eye.” Its key attributes range from embossed serial numbers, bold “The United States of America” text, a natural paper wave, and an ideal color on its well-centered plate letter C example.
“This is an exceptional note,” says Dustin Johnston, vice president of currency at Heritage Auctions, in a statement. He goes on to say it’s “an absolute must-have for collectors of large-denomination notes.” If that’s you, you can start placing bids now on the $1,000 1918 Federal Reserve Note via the company’s website, where it’s being offered alongside other top lots such as a $2 1875 The La Crosse National Bank Ch. and a $10 1908 Silver Certificate. There are 16 days left on the auction calendar to secure one of these vintage relics, so don’t miss out.
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