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Stack’s Bowers and Ponterio   |   The August 2018 ANA Auction   |   23 August 2018 Sort by Lot-NumberSort by Estimate
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Session 4, Lot 2056

Estimate: 600'000 USD   |   Starting price: 360'000 USD Price realized: 720'000 USD
Gold Certificates
Incredible Large Brown Seal 1882 $1000 Gold Certificate
One of Two in Private Hands
Friedberg 1218d (W-4618). 1882 $1000 Gold Certificate. PCGS Currency Extremely Fine 45.
This incredible example of a prohibitively rare 1882 $1000 Gold Certificate is the finest known for this type and seal combination and one of only two such examples in private hands. This note all by itself in any other major currency sale would make that sale one for the record books. How amazing it is to have this note share the limelight with so many other treasures!

A portrait of Alexander Hamilton is seen at right. At center is a large brown spiked Treasury Seal with GOLD overprinted in gold letters. A large 1000 counter is found at left. Bold blue serial numbers are seen within gold panels at lower left and upper right. The engraved signatures of Rosecrans and Huston are along the bottom frame line. The back design is elaborate and executed in vibrant orange-gold. A bald eagle with shield is at center while a large Roman numeral M counter is seen at left.

Just four examples of this catalog number are recorded, two of which are permanently impounded in the National Numismatic Collection and in the collection of the Federal Reserve Bank of San Francisco. This note was the only privately held example known until another was discovered in 2013. That example was graded Very Fine 35 by PCGS and sold for $881,250 in a January 2014 auction.

The present piece is far more attractive with bright paper, strikingly bold inks and only slight hints of circulation. It was first offered as part of the Albert A. Grinnell Collection, sold by Barney Bluestone in March 1945 where it brought $1,250. It was most recently acquired for $1,092,500 in a June 2006 auction and has been off the market ever since.

As noted earlier, in retrospect the Grinnell Collection is amazing to contemplate. If offered today it would bring multiple tens of millions of dollars! A good study project for an article in Paper Money magazine would be a narrative describing the offering of this incredible cabinet.

PCGS Population: 1; none finer.
From Limpert & Kemm Illustration; Barney Bluestone's sale of the Albert A. Grinnell Collection, March 1945, lot 566; Currency Auctions of America's sale of January 2000, lot 2311; Lyn Knight's sale of June 2006, lot 326.

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