First ever US banknote could hit $250,000 at Heritage Auctions



2015-06-26 11:35:08

The first US federal banknote ever issues last appeared at auction in 1970

The first banknote ever issued by the United States federal reserve will make its first auction appearance since 1970 in Heritage Auctions’ ANA Platinum Night on August 7-8 in Chicago.

The note, a Series 1861 Demand note, is one of only three and is the only serial number 1 example with the handwritten “For The” text known from any of the issuing locations. It is estimated at $125,000+, though Heritage states it could hit $250,000 come sale day.

According to Heritage Auctions, many notes claim the title of the first issued by the United States, especially the “Greenback” legal tender notes that were not issued until 1862.

This note was presented to the secretary of the treasury Salmon P Chase in 1861, and was then sold to Philadelphia banker Jay Cooke, who was instrumental in financing the US civil war.

Also starring with a $125,000+ estimate is the finest $20 1882 Gold Certificate known, one of only two examples. Countersigned by hand by Thomas C Acton, only 14,000 were ever issued before the plates were changed to include his engraved signature.

Heritage states that this is the last opportunity to acquire such a piece “for the remainder of this generation”.

"This auction features The Greensboro Collection Part IV," said Dustin Johnston, director of currency auctions at Heritage. "We don't use the phrase 'museum-quality' lightly; however collectors will find many cornerstone pieces in Chicago."

Paul Fraser Collectibles has a fantastic selection of rare coins available.

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