LOT #14469 |
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Fr. 2200-D* $500 1928 Federal Reserve Note. PMG Very Fine 25 Net.. ...
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Sold on Sep 19, 2008 for:
$97,750.00
Bid Source: Internet bidder
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Description
Newly Discovered 1928 $500 Star Note-One of Three Known
Fr. 2200-D* $500 1928 Federal Reserve Note. PMG Very Fine 25 Net.An incredible rarity which may well be the most significant small size note we have offered in recent years. Both the Sullivan census and the new edition of the Schwartz and Lindquist reference list just two 1928 $500 star examples known, one from the Philadelphia district and one from the Chicago district. This piece, which was discovered earlier this year and is offered here to the numismatic fraternity for the first time, is the first 1928 $500 star to be uncovered in many years, and, judging from the miniscule production figures for stars in this series, might well be the last for an equal number of years. It is the only star known from the Cleveland district, which had a total production of only 1080 pieces, with several districts printing even fewer stars. The note itself is an evenly circulated and well centered piece with a bright green overprint and plenty of eye appeal for the grade. PMG has net graded the note Very Fine 25 because of an "Internal Split Repair," which we can not locate even when the note is held up to a light source. Whatever the grade, this is one of the most significant small size rarities to be offered this decade, and one which might not be available again to collectors for the better part of a generation, if even then. Any estimate here is a total guess, as a 1928 $500 star has been on every serious small size collector's wish list for eons, but we would not be at all amazed to see a six-figure realization for this incredible note.
Auction Info
2008 September Long Beach, CA CAA Signature Auction #3502 (go to Auction Home page)
Auction Dates
September, 2008
17th-21st
Wednesday-Sunday
Bids + Registered Phone Bidders: 3
Lot Tracking Activity: N/A
Page Views: 2,113
Buyer's Premium per Lot:
15% of the successful bid per lot.
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