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Fr. 841a $5 1914 Red Seal Federal Reserve Note PCGS About New 50.. ...
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Sold on Apr 29, 2011 for:
$18,400.00
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Description
Serial Number One Kansas City $5 1914 Red Seal
Fr. 841a $5 1914 Red Seal Federal Reserve Note PCGS About New 50.Serial number J1A, the first Kansas City district $5 Red Seal issued. Several two digit serial number examples with the lowest J15A are listed in the census, but all are circulated, with grades ranging from Fine to Very Fine. Several serial number 1 $5 Red Seal Fed examples exist, with most in institutional collections. The New York district number 1 is housed in the collection of the New York Federal Reserve Bank, the Chicago district number 1 can be found in the holdings of the San Francisco Fed, and the Minneapolis number 1 $5 is in the collection of the Minneapolis Federal Reserve Bank. The St. Louis district number 1 $5 exists, and was pictured in the September-October 1989 issue of Paper Money magazine, but its whereabouts are unknown and it has never been offered at public sale. The Dallas district serial number 1 $5 (and the $10 and $20 Red Seals) was said to have been presented as a Christmas present by Secretary of the Treasury McAdoo to Texas politician Albert Sidney Burleson according to a story by William Philpott, but the accuracy of that story is called into serious question by the appearance of the $10 Dallas serial number 1 Red Seal which is offered below, and came from the same estate of a San Francisco Federal Reserve Bank officer as all seven of the number 1 Red Seals offered here tonight, especially since Philpott claimed that Burleson had passed all three notes on to an Austin banker some years later. The newly discovered San Francisco serial number 1 $5 appears below. It appears, with the possible exception of the St. Louis district number 1 note, that all of the reported number 1 1914 Red Seal fives save for the Kansas City and San Francisco specimens offered here are in government hands at this writing, and that collectors have never before enjoyed the opportunity to obtain any serial number 1 $5 Red Seal at public sale prior to tonight's offering. This example is well margined, bright and only lightly handled, with no flaws whatever beyond a couple of minor storage bends. If rarity, desirability and condition are any guide here, our estimate might well prove conservative in the extreme.
Auction Info
2011 April Rosemont CSNS Signature Currency Auction #3513 (go to Auction Home page)
Auction Dates
Apr-May, 2011
27th-2nd
Wednesday-Monday
Bids + Registered Phone Bidders: 2
Lot Tracking Activity: N/A
Page Views: 3,153
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