Skip to main content
Go to accessibility notice

    Description

    Discovery Note -1928 St. Louis $500 Star

    Fr. 2200-H* $500 1928 Federal Reserve Note. PCGS About New 53.
    This numismatic rarity may be the biggest currency discovery of 2010. It was a part of a handful of $500s and $1000s that was secreted away decades ago, with little thought given to the star at the end of the serial number. Until now, only three 1928 $500 Stars were known to collectors. The survivors, one each from Philadelphia, Cleveland, and Chicago have all made just one auction appearance. As the second finest of the four survivors, this example packs all the eye appeal of a fully uncirculated note. Hints of handling account for the grade as the note is free of folds, with one partial bend that does not rise nearly to the level of a fold. The embossing is so prominent that even the finest details of the seal are easily seen through the open fields of the back design. Four solid margins, a deep green overprint, and fresh bright paper all add to the note's wonderful eye appeal.

    In 2001, the Philadelphia note was the first of the three previously known notes to be offered at auction. It sailed past its $10,000 to $15,000 estimate and settled at $41,800. The other two pieces were offered late in 2008. That September, we featured the Cleveland note, a PMG Net graded VF 25, an attractive note with a hint of an internal repair. Against an estimate of $60,000 to $100,000, it realized $97,750, no surprise given the number of devoted Cleveland collectors who competed for a chance to own the ultimate note from their favorite district. One month later, the Chicago example, a PCGS Apparent 40 Net appeared in another auction. Despite an appearance that fell far short of the Cleveland note and a repaired tear as noted by PCGS, it still realized $34,500. With the stunning appearance and high grade of this note, the popularity of the St. Louis district, and a total print run of a miniscule 720 pieces, we would not be at all surprised to see this note realize...


    Shipping, Taxes, Terms and Bidding
    Calculate Standard Domestic Shipping

    Sales Tax information  |  Terms and Conditions

    Bidding Guidelines and Bid Increments

    Glossary of Terms

    Auction Info

    Auction Dates
    January, 2010
    7th-11th Thursday-Monday
    Bids + Registered Phone Bidders: 1
    Lot Tracking Activity: N/A
    Page Views: 4,480

    Buyer's Premium per Lot:
    15% of the successful bid (minimum $14) per lot.

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

    Heritage membership

    Join Now - It's Free

    VIEW BENEFITS
    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
      winnings 
    Consign now
    • Cash Advances
    • More Bidders
    • Trusted Experts
    • Over 200,000 Satisfied Consignors Since 1976
    Only 41 days left to consign to the 2019 April 24 - 29 Central States Currency Signature Auction - Chicago!

    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

    HA.com receives more traffic than any other auction house website. (Source: Similarweb.com)

    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 $2,452,107