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    Very Rare Fr. 1225a $10,000 Gold Certificate of Deposit

    Fr. 1225a $10,000 1900 Gold Certificate PMG Very Fine 30.
    This unusual and distinctive Federal series, created by the Act of March 14, 1900, is canceled and non-negotiable. These notes did not circulate on demand; instead they were held as deposit certificates until paid out in gold by the Assistant Treasurer's office. All the 1900-series signature combinations (Fr. 1225a-1225h) known today were canceled in some manner, archived, and apparently once part of documents thrown out the windows during the 1935 Post Office fire in Washington, D.C. The notes were printed uniface on bond paper, and the blank backs were used for future endorsements such as redemptions. They are bigger than the large size currency in circulation at the time. At the upper left is the traditional Alfred Sealey-engraved Andrew Jackson portrait. The yellow-gold overprints, red treasury seal, and blue serial numbers are similar to regular Gold Certificates. This initial Lyons-Roberts signature example is one of the rarest. The Chambliss-Hessler reference reports only six known from the 36,000 authorized, with that number confirmed in Track & Price. This example, with serial number E28328, is unlike two others we have offered in recent years in several respects. Both of those pieces (each PMG Extremely Fine 45 with fault comments) were heavily punch-canceled and quite water stained. This piece has hard creases and some soiling, but it retains strong colors. There are no signs of the commonly seen water damage (from firefighters' hoses). The only comment by PMG is "Cancelled" referring to the three well-spaced purple ink stamps on the face. This example has an interesting series of verso endorsements. The note was originally made payable to the "Northwestern National Bank, Minneapolis, Minn. / Chicago, Ill." and dated September 26, 1905. It was evidently held by the bank for quite some time as the redemption stamps on the back are by the Federal Reserve Bank of Minneapolis, which was not established until 1914. Ex: our 2020 FUN sale, lot 22193; previously the Coral Gables Collection, Part II. We consider it the finest known of the rare and initial Series of 1900 type. A significant rarity, tremendously interesting, and underrated.
    From The Mike Coltrane Collection.

    Estimate: $8,000 - $12,000.

    Auction Info

    Proxy Bidding Ends
    4th Wednesday 4:50 pm CT
    Auction Dates
    4th-5th Wednesday-Thursday
    Proxy Bidding Time Remaining
    3 Days 23h 19m 18s
    Bids + Registered Phone Bidders: 7
    Lot Tracking Activity: 26
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    This lot is in: 1 - Heritage Signature® Auctions Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live):
    (Lots 25001-25282) - 5:00 PM Central Time, Wednesday, November 4, 2020.
    (Proxy bidding ends ten minutes prior to the session start time. Live Proxy bidding on Heritage Live starts 24 hours before the live session begins and continues through the session.)

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    Additional Location Info:
    Heritage Auctions
    2801 W. Airport Freeway
    Dallas, TX 75261

    Current Bid:
    w/ Buyer's Premium (BP) : $3,120.00 Minimum Next Bid: $2,700 ($3,240.00 w/ BP)
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