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Fr. 1218d 1882 $1000 Gold Large Brown Seal One of Four Known With Two in Private HandsFr. 1218d $1000 1882 Gold Certificate PCGS Very Fine 35.
The first of the three incredible 1882 Thousands to have turned up along with the Red Seal Five Hundred last Spring. This Large Brown Spiked Seal note now resides in a comment-free PCGS VF 35 holder. In our opinion, the grade is exactly correct. Prior to the appearance of this note, only three examples were known, two of which are permanently impounded in government hands. One is held by the Federal Reserve Bank of San Francisco where it was examined in 1993 and graded Fine. The second was delivered by the Treasury Department to the Smithsonian Institution in 1978, and has been graded as Very Fine. The third and finest of the three known is an About New, that was initially owned by Albert Grinnell and sold on March 10, 1945 as lot 566 by Barney Bluestone. That note has changed hands twice privately in the last 15 years. CAA/Heritage sold it on January 7, 2000 for a then record price of $935,000 and it was re-sold at the 2006 Memphis auction for $1,092,500. It has been off the market since that time. The currently offered note is now the second piece in private hands. It has incredible color with the basic black printing razor sharp, the large brown spiked seal fully fresh, and the all important gold overprint on the face at its full original brilliance. Most importantly, the bright orange back with its stately spread eagle has retained 100% of its original, bright color and every minute detail of the fabulous engraving is easily seen. A difficult note to estimate with the newly entered collectors in the high-end market, but we would certainly expect this note to reach seven figures.
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