LOT #21291 |
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Fr. 2230-E $10,000 1928 Federal Reserve Note. PMG Choice About Unc 58.. ...
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Description
Sole Finest Graded 1928 $10,000 Federal Reserve Note
One of Only Ten Known For Type
Fr. 2230-E $10,000 1928 Federal Reserve Note. PMG Choice About
Unc 58.Series 1928 $10,000 FRNs are many times scarcer than Series 1934 pieces of the same denomination. A total of ten documented 1928 examples for all districts are known. Two notes are housed in museum collections, leaving just eight examples for collectors. The disparity in rarity is perfectly illustrated when that number is compared to the 119 different 1934 $10,000 notes enumerated in Track & Price.
In our 2005 offering of the Taylor Family Collection, we offered the other known Fr. 2230-E, serial number E00000178A. In the census and in our auction, that note was graded Uncirculated, a grade bestowed on it before the rigorous third-party grading standards that triaged many notes down a few points to fit the 70-point Sheldon scale. Examination outside of the holder revealed this note has a counting bend at center. The bend could not be considered a fold, and it does not extend through the entire body of the note. Herein lies the problem with the grading scale for grading; we have a note that clearly escaped being used in circulation but is graded 58 for the purest definition of a fold limiting a note from a fully uncirculated grade. We know from the population reports that serial number 78 has not been graded by either PMG or PCGS. The likelihood that the note earns an Uncirculated grade is unknown, but we know today's services are very conservative compared to collector accepted standards from decades ago.
The piece in this lot is an attractive example with embossing found in the upper right serial number and in the Treasury seal. Add dark inks and white paper, and you have a great note on the highest denomination that one can own.
Auction Info
2022 October 5 - 7 Long Beach Expo US Currency Signature® Auction - Long Beach #3589 (go to Auction Home page)
Auction Dates
October, 2022
5th-7th
Wednesday-Friday
Bids + Registered Phone Bidders: 7
Lot Tracking Activity: N/A
Page Views: 4,708
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20% of the successful bid (minimum $29) per lot.
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