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    Fr. 1191 $50 1882 Large Red Seal Gold Certificate--The Only Example in Collector's Hands

    Fr. 1191 $50 1882 Gold Certificate PCGS Extremely Fine 40. In its most recent auction appearance, we sold this note as lot 1578 of the Lawrence Cookson Collection in January 1999. It was described there as, "One of the most spectacular rarities in this or any collection, and the only example of its type in private hands. Four notes are known to exist, three of which are permanently impounded in government hands and this note, the fourth example, which is far and away the finest known. Its pedigree traces it from the Barney Bluestone sale of the Albert A. Grinnell Collection on March 10, 1945, where it realized $95, to the collection of James Stack. It reappeared as Lot 1799 of the Stack's March 15, 1990 sale where it realized $28,600. While at the viewing for that sale, this note and the matching Hundred (also in Dr. Cookson's collection, Lot number 1590) caused dealer/friend Lyn Knight to remark, 'What are these? I didn't even know they made these.' Neither Lyn, this cataloger nor anyone else in attendance at that sale had ever seen a Gold Certificate with the Large Spiked Seal. Few if any U.S.notes have the visual impact of this note and its companion Hundred. Four separate colors are used for the face printing, and all are at their full brightness on this magnificent note: the basic black background, blue for the serial numbers, orange for the overprint on the face and bright red for the seal in the center. Both the face and the back are perfectly centered among large, even margins. When last on the market, there were a few small pinholes and a tiny edge split which have now been so expertly repaired that this cataloger is unable to locate either minor problem. This is the first and very likely only time that this generation of collectors will have an opportunity to add this singularly rare and beautiful number to their holdings." In the Cookson sale, the note was estimated at $100,000 up and realized $165,000 after heated floor bidding. Neither the rarity, nor desirability of this note has changed in the last 70 years, but the market for incredibly significant rarities sure has. We would expect this note to well more than double its previous realization.

    Auction Info

    Auction Dates
    January, 2006
    5th-7th Thursday-Saturday
    Bids + Registered Phone Bidders: 22
    Lot Tracking Activity: N/A
    Page Views: 9,186

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