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Fr. 2210-J $1,000 1928 Federal Reserve Note. PCGS Gem New 66PPQ.. ...
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Lone Finest Known Kansas City District 1928 $1000 Federal Reserve Note
Fr. 2210-J $1,000 1928 Federal Reserve Note. PCGS Gem New
66PPQ.Since the late 1980's when high denomination notes ceased being merely cash and started being bona fide collectables, Gem 1928 $1,000s were quickly observed to be much rarer than their 1934/34A $1,000s counterparts by the numismatic community. The advent of the currency grading companies provided undeniable evidence of this fact, as their census data confirms that 1928 Gem $1,000s are indeed 8 to 10 times scarcer than Gem 1934/1934A $1,000s. A review of population reports at the two major currency grading companies shows there have been no Gems graded for four districts of 1928 Thousands -- Boston, New York, Minneapolis, and San Francisco. The Kansas City district, from which our present lot hails, also showed no Gems in its Pop Report with a lone AU 58 as Top-Pop until a few years ago, when the 66PPQ being offered here tonight and two additional 65PPQ Gem 1928 Kansas City $1,000s fortuitously appeared as part of a Midwest estate. The 66PPQ here and one of the 65PPQs were sold immediately in private transactions to top collectors; the other 65PPQ sold at auction in October 2018 for $20,400.00.
As we quickly approach the 2028 centennial of the first issuance of small size U.S. currency, Gem $1,000 notes have become popular items on the radar of advanced collectors and investors, with recent auction realizations for gem Top Pop $1,000s bearing proof of their value and rarity. Prices realized for gem Top Pop $1,000s from rare districts have recently surged beyond $50,000 twice. A Top Pop 1928 Cleveland $1,000 graded PCGS 67PPQ sold several years ago in a private transaction at a price rumored to be in the mid $50s and a Top Pop 1934 Minneapolis $1,000 graded PMG 66 EPQ, sold in spirited bidding for $57,600.00 at public auction in August 2018. Tonight's final hammer for the lovely note offered here will serve as testament to just how special this finest known Kansas City district, Series 1928 $1,000 Federal Reserve Note is.
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