The note discussed below in 2017 is now for sale online by GreatCollections, item 545678.
2019 result : 0 bid
In the United States the first modern paper currency is the Demand note issued in 1861 to finance the war effort. From that date all federal notes bear the signature of the Register of the Treasury, a position created in that year, and of the Treasurer of the United States. In practice these signatures are marked on the bills by a team of employees.
Some types of notes remained unchanged for several decades. The conjunction of the two signatures makes it possible to identify the period of emission. The Friedberg (Fr.) classification records for each type the sub-variants defined by the signatures. The serial number can provide information on the chronology of the printing but is of a lesser appeal to the specialists.
The Bills of Exchange Act 1882 transforms the Gold certificates into notes payable to the bearer. They are withdrawn from circulation and prohibited after the Gold Reserve Act of 1934. Owners hurry to exchange these notes while there is still time and the surviving examples of large denominations become highly rare.
On June 14, 2013 in Memphis during the International Paper Money Show, Heritage Auctions revealed a treasure discovered in an old box by an owner who was unaware of its value : four gold certificates of 1882 type in $ 500 and $ 1000 in very fine condition :
$ 500, Fr. 1215d, Rosecrans-Hyatt (1887-1889) No. C13680
$ 1000, Fr. 1218d Rosecrans-Huston (1889-1891) No. C23668
$ 1000, Fr. 1218e Rosecrans-Nebeker (1891-1893) No. C26834
$ 1000, Fr. 1218f Lyons-Roberts (1898-1905) No. C65825
After being graded VF35 or Apparent VF35 by PCGS, the four tickets were sold by Heritage on January 14, 2014. The results including premium were : $ 1.4M (1215d), $ 880K (1218d), $ 880K (1218e) and $ 294K (1218f).
With a population of ten later increased to eleven, the 1218f was the least rare of the four pieces of the treasure. This note graded VF35 is however the finest known Fr. 1218f. It is estimated $ 300K for sale by Heritage in Denver on August 3, 2017, lot 20078.
2017 result :
SOLD for $ 270K including premium