The rarest was the $ 500 (Friedberg reference Fr. 1215d), the only known copy of this variant apart from another one which is permanently kept in the collection of the Federal Reserve Bank. The other three notes in the hoard were $ 1000 in variants Fr. 1218d, 1218e and 1218f.
They were sold by Heritage on January 10, 2014 : $ 1.4M for the $ 500, $ 880K each for the first two $ 1000 and $ 294K for the latest $ 1000. These figures include the premium. The $ 500 was illustrated by a video.
Their emission dates are as follows :
$ 500, Fr. 1215d with Rosecrans-Hyatt signatures : 1887-1889
$ 1000, Fr. 1218d with Rosecrans-Huston signatures : 1889-1891
$ 1000, Fr. 1218e with Rosecrans-Nebeker signatures : 1891-1893
$ 1000, Fr. 1218f with Lyons-Roberts signatures : 1898-1905
The Fr. 1215d $ 500 gold certificate is now estimated $ 1M for sale by Stack's Bowers in Baltimore on October 25, lot 3044.
I positioned their scarcity as follows before the 2014 sale :
Conceived in 1863, the Gold certificate is originally a recognition of a nominative debt by the US government, redeemable at face value against gold coins. At the time of the Civil War, it was a way to better control the circulation of dollars.
The process changes in 1882, when these notes are no longer individual but become payable to the bearer.
American people are pragmatic. The paper currency of the nineteenth century was not hoarded. The scarcity of Gold certificates increased further in 1933 during the great offensive by Roosevelt to revive the economy, when it became illegal to own them as for gold metal in coins and bullion.
The Series of 1882 included a wide range of monetary values. The $ 5,000 and $ 10,000 are known only in two copies each, according to the Friedberg guide. The classification of this author includes eight variants in a single type for the $ 1000 certificate and seven variants divided into two types for the $ 500.
SOLD for $ 900K including premium