1880 $500 banknote offered for $500,000+ at Heritage

paulfrasercollectibles

2015-06-26 13:06:32

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1880 $500 banknote offered for $500,000+ at Heritage

Heritage Auctions is to offer a rare example of the $500 banknote from the 1880 series

As part of Heritage Auctions' January 9-14 Currency FUN Signature Auction, which will be held in Florida, a rare example of the 1880 series $500 banknote will be offered from the illustrious Greenboro Collection.

1880 $500 Legal Tender noteThere are less than five known examples in existence

TheFreebird 185l $500 note will be sold with a pre-sale valuation of $500,000+. It was last sold by Heritage Auctions in September 2007 from the Dr Edward and Joanne Dauer Collection, when it brought $690,000. Until then, no collector had been given the chance to acquire the note for 22 years.

The note is one of just five Bruce-Roberts signed $500 Legals known to exist, with this being the only example available to private collectors. It was one of just 8,000 printed in four months from late 1897-1898.

1880 $500 note Lega Tender Bruce RobertsPMG has noted 'splits' marring the note's condition, though these are barely visible

Of all the $500 notes from the years 1874-1880, there is a total of just 36 known to have survived, of which 25 are in government hands. The example at auction has been graded PMG Choice Very Fine 35, and boasts broad margins and great eye appeal.

Its vignette depicts General Joseph King Mansfield, a Union officer who was killed at the Battle of Antietam during the American civil war. To his left sits a bare-breasted allegory of victory, symbolising the defeat of the Confederate forces.

Paul Fraser Collectibles will be bringing you the results of this sale in the near future, so be sure to check back with us regularly.

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