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Fr. 2220-E $5,000 1928 Federal Reserve Note. PMG Gem Uncirculated 65 EPQ.. ...
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Sold on Sep 13, 2024 for:
$780,000.00
Bid Source: Internet bidder
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Description
Sole Finest PMG Graded Series 1928 $5,000
Fr. 2220-E $5,000 1928 Federal Reserve Note. PMG Gem
Uncirculated 65 EPQ.Our consignor astutely outbid the competition at our May 1996 Spring Auction in order to bring home this lovely Richmond $5,000 with the redeemable in gold obligation clause. We were able to examine the note in hand without encapsulation long ago and our description from 28 years ago reads, "To our best knowledge this magnificent Richmond district note is the only truly Uncirculated 1928 $5,000 known from any district. It shows full original embossing, is well centered, beautifully bright, and printed both front and back with the quality one associates with Proof notes. We have seen a fair number of high grade $5,000s in the past few years, all of which have been from the 1934 Series, and none of which could compare in quality with this magnificent 1928." As we jump ahead to the present and examine once again this regal note with the modern tools of today, we find our statements still hold fast. First, PMG has confirmed our grade assessment and second, the PMG Population Report has graded 22 Series 1928 $5,000s for all districts and the sole finest is the note in this lot. Our most recent experience auctioning a Series 1928 $5,000 was an example from the Atlanta district graded PMG VF 30 EPQ that realized $360,000 in January 2024. With that in mind, maybe our estimate is too low, but when the dust settles, the underbidder will be the one who determines the winning bid, albeit without ownership of this great note.
From The Ronald R. Gustafson Collection
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Auction Info
2024 September 11 - 13 Long Beach Expo US Currency Signature® Auction #3596 (go to Auction Home page)
Auction Dates
September, 2024
11th-13th
Wednesday-Friday
Bids + Registered Phone Bidders: 9
Lot Tracking Activity: N/A
Page Views: 6,756
Buyer's Premium per Lot:
20% of the successful bid per lot.
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