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    Uncirculated Binion Hoard $10000 Note

    Fr. 2231-B $10000 1934 Federal Reserve Note. PMG Uncirculated 62.
    From our April 2012 Signature auction where it was described, "Gem sized margins frame this attractive Binion Hoard $10000. Many of the Binion Hoard notes are flat with poor centering, though this piece exhibits original paper wave and fully pronounced embossing. The number of issued notes varied from district to district with 11,520 printed and issued for the New York district, a dismal sum compared to print runs for other Federal Reserve Notes of the time period. It is estimated that the M1 money supply (defined in economics as the coin and currency circulation total and easily accessible bank funds such as checking accounts) totaled $22 billion or more for any given year of the early 1930s. The 1928 and 1934 $10,000s would have accounted for a very small percentage of the M1 total, if they were all in circulation at that time. That amount of notes, which were used primarily in bank to bank transactions, would have still been far from sufficient to meet deposit requirements for most of the approximately 16,000 banks in business at the time." It still remains one of the nicer examples from this famed display available to collectors.

    Auction Info

    Auction Dates
    January, 2014
    8th-13th Wednesday-Monday
    Bids + Registered Phone Bidders: 6
    Lot Tracking Activity: N/A
    Page Views: 2,109

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