Auction Name: 2026 January 13 - 16 FUN U.S. Currency Signature® Auction

Lot Number: 22174

Shortcut to Lot: HA.com/3600*22174

Fr. 1132-L $500 1918 Federal Reserve Note PCGS Banknote Very Fine 25.
The design features a portrait of Chief Justice John Marshall and a panoramic vignette of DeSoto Discovering the Mississippi on the back. The note is well printed with good color, on paper with decent margins and centering. PCGS Banknote mentions some mounting residue, minor restorations, and some minor masking of small stains, none of which are overly distracting. Only 20,400 examples were issued by the Federal Reserve Bank of San Francisco and while the Track & Price Census includes 23 notes, nearly one third of them, seven examples, are in the Smithsonian (1) and Federal Reserve Bank of San Francisco (6) collections, leaving only 16 in public hands. This note's last recorded public auction appearance was in 2017 when it crossed the auction block for $24,675. More recently, we auctioned a PCGS Banknote Very Fine 30 note with some closed pinholes for $18,000 in our 2024 CSNS US Currency Signature Auction. Our conservative low estimate should allow the market to determine its present value in today's market environment.
From The Louis H. Geser Collection

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