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Lot
16539

Fr. 2221-K $5000 1934 Federal Reserve Note. PCGS Very Choice New 64PPQ.. ...

2012 October 17-23 ANA Currency Signature Auction- Dallas #3520

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Auction Ended On: Oct 19, 2012
Item Activity: 5 Internet/mail/phone bidders
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Location: Dallas Convention Center
650 S. Griffin Street
Dallas, TX 75202

Description:
Lovely and Original Uncirculated Dallas $5000
Fr. 2221-K $5000 1934 Federal Reserve Note. PCGS Very Choice New 64PPQ.
A little more than six years ago, a small cache of seven Dallas $5000s were discovered and offered to collectors. The group included some of the nicest examples of the denomination now available to collectors and they were quickly ensconced in collections. This piece was one of the examples that never saw public auction until now.

Though one finer example from this district has been graded, this is the lone and highest graded example to be offered at auction. As with all the 1934 $5000s printed for the Dallas Federal Reserve, this piece features a lime green overprint. The color is vivid and the two digit serial number K00000055A is a subtle reminder of how few high denomination notes were printed for each district. In this case, the print run was just 2400 notes. Since they were mainly used in bank-to-bank transactions, most were redeemed at the Treasury when cash reserve requirements were lowered and other advancements were made in transferring funds from one bank to another. Each of the margins is full and individually worthy of a Gem grade. The embossing and original paper wave is easy to see even in the confines of the third party holder. Some minor handling is noted and likely the deciding factor keeping it from a full Gem grade. It is typical of many high denominations that spent most of their life in bank vaults only to be counted by bank clerks during audits. No finer $5000s have been offered by us in at least four years, and the last similarly graded example was a PCGS Very Choice New 64PPQ from New York that cracked the $130,000 mark in our 2011 September Long Beach Signature Auction. This is a lovely $5000 that is rarely available in any finer condition.
From The John Henderson Collection

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