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Press Release - April 5, 2016
About Uncirculated ‘Rainbow $50,’ PMG 55 tops Heritage CSNS Currency Auction offerings in ChicagoApril 27-May 2, 2016, CSNS Currency Signature® Auction held in conjunction with the annual Central States Numismatic Society Convention at the Renaissance Schaumburg Convention Center and Hotel, 1551 Thoreau Drive North, Schaumburg, IL.
"Only a grand total of 64 examples of the Rainbow $50 are enumerated in the Track & Price Census," said Dustin Johnston, Director of Rare Currency at Heritage Auctions. "PMG and PCGS combined statistics show that they've graded only four pieces higher with none equal to this one. It's just a superb AU note and we expect top collectors will stretch a bit to get it."
A famed "Watermelon" 1890 Fr. 377 $100 Treasury Note PMG Very Fine 25 Net, off the market for two decades, makes an appearance in the auction, with an estimate of $150,000+, a pre-auction calculation equaled by a beautifully and broadly margined 1934 Dallas Fr. 2221-K $5,000 Federal Reserve Note PMG Choice Uncirculated 64, part of rare run that was discovered in the Lone Star State a decade ago.
A bright 1934 St. Louis District Fr. 2221-H $5,000 Federal Reserve Note PMG Choice Extremely Fine 45, one of just five known examples from the St. Louis District, has drawn early collector buzz with a pre-auction estimate of $115,000+, while an 1886 Fr. 313 $20 Silver Certificate PMG Extremely Fine 40, with a $60,000+ pre-auction estimate offers collectors a chance to acquire the finest offering of its kind in almost a decade.
Further highlights include, but are certainly not limited to:
Rare 1902 Murray, UT $20 Red Seal Fr. 639 The First NB Ch. # (P)6558 PMG Very Fine 25 Net: An exceptionally rare note which is one of only six Red Seals from all Utah banks combined, and the only $20 extant from the entire state. Estimate: $35,000+.
Fr. 2071-K $20/$10 1974 Double Denomination Federal Reserve Note PMG Choice Uncirculated 64 EPQ: A lovely example of what has come to be known as "The King of Errors," a double denomination 1974 $20/$10. Estimate: $35,000+.
1902 Scotland, SD $10 Red Seal Fr. 613 The First NB Ch. # (W)7048 Pen signed PMG Very Fine 20: A true miracle of survival, with this note the only example extant from a bank which issued a miniscule 452 sheets of Red Seals during its fewer than four years in existence. Estimate: $20,000+.
1902 Salem, OR $20 Red Seal Fr. 641 The United States NB Ch. # (P)9021 PCGS About New 53PPQ: A spectacular Serial Number 2 Forbidden Title Red Seal note. Estimate: $17,500+.
Washington, OH $2 Original Fr. 389 The Fayette County NB Ch. # 1972 PMG Very Fine 25 Net: A great serial number 1 Lazy Deuce from this short-lived Washington bank that was only in business from 1872 until 1875. It is one of only about three dozen number 1 deuces known for the entire country. Estimate: $17,500+.
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Noah Fleisher, Public Relations Director
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