Rare $10,000 note from 1934 sells at auction for a hefty price | Trending - Hindustan Times
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Rare $10,000 note from 1934 sells at auction for a hefty price

ByVrinda Jain
Sep 26, 2023 10:15 AM IST

The note bears the image of President Lincoln's Secretary of the Treasury, Salmon P. Chase.

A rare $10,000 note dating back to the Great Depression went up for auction and was sold for $480,000 (approximately. 3.9 cr). According to Dallas-based auction house Heritage Auctions, the 1934 Federal Reserve note was evaluated as having exceptional paper quality (EPQ) and was certified by the Paper Money Guaranty (PMG).

$10,000 that was sold at an auction. (Image/@Heritage Auctions)
$10,000 that was sold at an auction. (Image/@Heritage Auctions)

The note bears the image of President Lincoln's Secretary of the Treasury, Salmon P. Chase. It topped the house's Long Beach Expo currency auction. (Also Read: Rare 150 million-year-old dinosaur to be auctioned in Paris)

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"Large-denomination notes always have drawn the interest of collectors of all levels," said Dustin Johnston, Vice President of Currency at Heritage Auctions in a press release.

Johnston also said, "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. Among all small-size $10,000 FRNs, PMG has graded only four equal and five higher, so this is an absolute prize that will command a share of the spotlight in its new collection home."

According to the Museum of American Finance, the $10,000 bill, was the highest denomination US currency ever to publicly circulate. Although a $100,000 bill bearing Woodrow Wilson's image was printed, it was intended for transfers of money between Federal Reserve Banks rather than for use in everyday transactions. The $100 bill has been the largest note printed in the US since 1969.

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