A $1,000 bill is worth way more than $1,000 and a $500 bill is worth way more than $500. Early examples of American Currency sold in Heritage Auctions Tuesday U.S. Currency Select Auction. This was the investors opportunity to own a PMG graded $1,000 Bill. Collectors Dashboard wanted to explore both the featured examples in this sale but also types of currency we have featured before.

Collectors Dashboard evaluates high-end collectibles as an alternative asset class. This means collectibles are attracting the same capital that could have been invested into stocks or bonds. Many collectibles now cost thousands of dollars (or much more). Currency that trades at multiples of its face value would definitely fit into the theme of an alternative asset class.

While most of the focus was on the larger notes, we did allow the featured note to be given a broader up-front description. It’s also worth learning about these types of notes.

The featured bill in this auction is for a fractional note. These old relics from the past are rather unusual and would be hard to fathom in modern fiat paper money. The Fr. 1286 25¢ Second Issue Inverted “S” Surcharge PMG Choice About Unc 58 EPQ estimated at $400.00+ sold for $324.00 after 5 bids including Buyer’s Premium. (Image below by Heritage Auctions)

Heritage said:

“The Fr. 1286 Inverted “S” variety comes both on regular issue and Experimental notes. Interestingly, the Experimental notes are quite a bit more common than the regular issue notes. There are only about a half dozen known examples of the regular issue inverted “S” notes. The last example that we sold from the Tabacco Family collection only graded PMG Extremely Fine 40 and sold for $384.”

We have identified how and why all collectors want to own a $1,000 bill. The price is only part of it. (Image below by Heritage Auctions)

Here are the $1,000 Bill examples that sold on December 7, 2021. Prices realized include Buyer’s Premium:

• PMG Graded Choice About New 55PPQ 1934A San Francisco $1,000 Bill L00096536A estimated at $3,750+ sold for $4,560.00 after 10 bids.
• PMG Graded Choice Extremely Fine 45 1934 Kansas City $1,000 Bill J00018121A “light green variety” estimated at $3,000+ sold for $3,600.00 after 12 bids.
• PMG Graded Extremely Fine 40 1934A Chicago $1,000 Bill G00171839A estimated at $3,000+ sold for $3,360.00 after 10 bids.

Other PMG graded notes, including $500 bills, worth mentioning in this auction include the following:

• PMG Graded About Uncirculated 50 1928 Chicago $500 Bill G00055801A estimated at $2,000+ sold for $2,640.00 after 8 bids.
• PCGS Graded About New 53 1934A Chicago $500 Bill G00271967A “mule” estimated at $1,750+ sold for $2,040.00 after 6 bids.
• PMG Graded Very Fine 30 1928 Philadelphia $500 Bill C00015125A estimated at $1,500+ sold for $1,800.00 after 10 bids.
• PMG Graded Choice Uncirculated 63 1934A San Francisco $500 Bill L00128650A estimated at $2,250+ sold for $2,100.00 after 7 bids.
• PMG Graded Very Fine 25 1934 Chicago $500 Bill G00012733A “Light Green Variety” estimated at $1,300+ sold for $1,500.00 after 9 bids.
• PCGS Graded Gem Uncirculated 65 PPQ 1928 $10 Gold Certificate estimated at $900+ sold for $1,320.00 after 8 bids.

Collectors Dashboard recently profiled and updated eBay sales of $1,000 Bills. The bills sold through Heritage are high end examples that are seen as more scarce to the collecting community. Graded examples and those in better condition sell for higher prices. Heritage Auctions has sold some of the most unique and finest examples known to Investors. Collectors want to own a $1,000 Denomination, Investors are hunting for the highest known grades.