Skip to main content
Go to accessibility notice


    Ex: Grinnell, Dauer $20 Demand Note

    Fr. 13 $20 1861 Demand Note PMG Very Fine 20 Net.
    Our previous description for this note, when it sold in September 2008 was,"Only four Fr. 13s are known from a total of twenty-six $20 Demand Notes reported for all numbers combined. Ten of those are Fr. 12. Twenty dollar Demand Notes reach the market with such infrequency that most collectors enter and leave the hobby without ever having the opportunity to purchase one. The three $20s in the Dauers' magnificent collection afford a once-in-a-lifetime opportunity for the advanced collector of Large type. This is the first Fr. 13 to be third-party graded by either major service--none has been graded higher than 20 when sold raw in any of the very few auction appearances that these notes have had. This note last sold at auction in May 1999 when it realized $36,800. It is the ex-Grinnell note, and while it does have a few minor restorations, they have been done with consummate skill and are undetectable to all but the most trained eye. The highest price recorded for a Fr. 13 at auction was in November 2006 when a note, somewhat lower than this in quality, realized $92,000. This piece should certainly equal, and will very likely exceed that realization." At that sale, it realized $74,750, a figure that should be just about equaled this evening.
    Previously from The Dr. Edward and Joanne Dauer Collection.
    From The Greensboro Collection

    View all of [The Greensboro Collection ]

    Shipping, Taxes, Terms and Bidding
    Calculate Standard Domestic Shipping

    Sales Tax information

    Important information concerning Sales Tax and Resale Certificates. Learn More

    Terms and Conditions

    Bidding Guidelines and Bid Increments

    Glossary of Terms

    Auction Info

    Auction Dates
    January, 2013
    9th-14th Wednesday-Monday
    Bids + Registered Phone Bidders: 4
    Lot Tracking Activity: N/A
    Page Views: 606

    Buyer's Premium per Lot:
    17.5% of the successful bid (minimum $14) per lot.

    Sold for: Sign-in or Join (free & quick)

    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
    Only 45 days left to consign to the 2019 June 26 - 28 HKINF World Currency Signature Auction - Hong Kong!

    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

    Recent auctions

    2019 January 10 - 14 FUN World Currency Signature Auction - Orlando
    2019 January 10 - 14 FUN World Currency Signature Auction - Orlando
    REALIZED $2,397,231