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    Vibrant and Attractive 1928 Chicago $5,000

    Fr. 2220-G $5,000 1928 Federal Reserve Note. PMG About Uncirculated 55.
    Series 1928 $5,000s were printed for only nine of the twelve Federal Reserve Banks. Today, no survivors are known from three of those districts. The print runs were tiny compared to most 20th century printing totals, with just 3,480 notes printed and released through the Chicago District. About two dozen survivors are known from all the banks combined and at least two of those, both Chicago survivors are locked up in the collections of the San Francisco Federal Reserve and Smithsonian. Track & Price tracks only one other Chicago note from the census to an auction appearance. That piece, a PMG 50 Net went unsold in a 2011 auction.

    Original embossing of the serial numbers, seal, and even the fine lines in Madison's jacket can be seen in the open spaces on back. The paper is the vibrant white, that was used for a short time on Series 1928 and 1929 notes. Four healthy margins frame the deeply printed design that is complemented by a pine-green overprint. The minor bend in the body of the note is so faint it is difficult to see through the holder. With a stunning appearance for the grade, one would be hard pressed to find a finer example any time soon. In fact, we see no record of any third party graded examples being offered at auction. In 2013, a couple of Boston 58PPQs sold, including one in our Central States Auction for $176,250. A realization in that neighborhood is again a possibility with the surge in interest in $5,000 and $10,000 notes over the past few years.

    Auction Info

    Auction Dates
    September, 2016
    7th-12th Wednesday-Monday
    Bids + Registered Phone Bidders: 9
    Lot Tracking Activity: N/A
    Page Views: 2,415

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