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Lot
17046

Fr. 185m $500 1880 Legal Tender About New....

2005 (CAA) Fort Lauderdale, FL (FUN) Signature Sale #362

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Auction Ended On: Jan 14, 2005
Item Activity: 9 Internet/mail/phone bidders
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Description:
Fr. 185m-The Finest Known Example
Fr. 185m $500 1880 Legal Tender About New. Only five examples of this incredible rarity are known to exist from the original printing of 20,000 pieces. Three of those five are permanently impounded. The first, the ex-Bebee example, is ensconced in the ANA museum in Colorado Springs, and two others are in government hands, one in the Smithsonian and the second in the collection of the Federal Reserve Bank of San Francisco. The only note other than the presently offered example in collector's hands is an Extremely Fine that last sold in a February, 2000 auction for $231,000. Surprisingly, all five existing pieces are reported to be in decent grade. The San Francisco Fed piece grades Very Fine, and the other three all grade Extremely Fine. This note grades a full About New, and is problem free save for a consummately expert repair to the left edge which is undetectable short of extremely close examination. With the only other privately owned Fr. 185m now off the market for an extended period of time, this may well offer the last opportunity for this generation of collectors to acquire a Lyons-Roberts signed $500 Legal.

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