Skip to main content
Go to accessibility options


    One of Two Known

    Fr. 322 $20 1891 Silver Certificate PCGS Extremely Fine 40.
    A simply great note which is perhaps the most desirable piece in the Merlau Silver Certificate holdings. Two examples are known for this Friedberg number, both in virtually identical grade, along with one other specimen from this design type, which is a Fr. 321 in considerably lower grade which was part of the Grinnell holdings and has not resurfaced since. We have had the privilege of selling both of the known Fr. 321's, one of which was part of our "Greatest Invert Collection" in 2000, when it realized $12,650 and this example, which was obtained by Richard in 2005 from our sale of the Taylor Family collection, where it fetched $9775. With the other example having been in exceptionally strong hands since its last appearance seventeen years ago, and with the Grinnell example long since lost in the wind, this may well be the last opportunity for any collector to obtain a $20 Silver Certificate invert for many years to come.
    From The Richard Merlau Collection of Large Size Errors, Part II

    View all of [The Richard Merlau Collection of Large Size Errors, Part II ]

    Auction Info

    Auction Dates
    January, 2017
    4th-10th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 1
    Lot Tracking Activity: N/A
    Page Views: 393

    Buyer's Premium per Lot:
    17.5% of the successful bid (minimum $19) per lot.

    Sold on Jan 6, 2017 for: Sign-in or Join (free & quick)
    Track Item

    Heritage membership

    Join Now - It's Free

    1. Past Auction Values (prices, photos, full descriptions, etc.)
    2. Bid online
    3. Free Collector newsletter
    4. Want List with instant e-mail notifications
    5. Reduced auction commissions when you resell your
    Consign now
    • Cash Advances
    • More Bidders
    • Trusted Experts
    • Over 200,000 Satisfied Consignors Since 1976
    Consign to the 2022 April 22 Paper Money Fair - Netherlands World Banknote Signature® Auction - .

    Learn about consigning with us

    I think heritage is the best auction house and has the best service - that’s why I use you. 
    Sara B.,
    Dubai, UAE
    View More Testimonials receives more traffic than any other auction house website. (Source:

    Video tutorial

    Getting the most out of search